Latest News

Senate Health Reform Bill

On December 24th, with a vote of 60 to 39, the Senate passed the “Patient Protection and Affordable Care Act” after nearly one month of floor debate. A 383-page manager’s amendment was added to the original bill containing a variety of provisions to secure the support of 60 Senators, thus allowing a final vote on the bill.

Here are some details of the Senate Bill:

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COBRA Premium Assistance Program - Extended

This week, President Obama signed a measure to extend the ARRA subsidy. The law extends the subsidy an additional six months.

Eligibility for the subsidy had been due to expire on December 31 but has been extended up to February 28, 2010.

This allows for the Federal Government to pay 65% of the insurance premiums for an employee that has lost employer sponsored insurance.

The following is a basic overview of the law:  More...

2010 HSA CONTRIBUTION LIMITS

The IRS announced the new 2010 HSA contribution limits. Maximum contribution for a Single is $3,050, while Family is $6,150. The Catch up rule for those over age 55 remains the same at $1,000.

Remember - participants may now contribute up to the annual limit regardless of the amount of their deductible or when they enrolled in an HDHP.

The contribution limits include all contributions made on behalf of the individual. If an indivdiual has more than one HSA, the annual maximum limit applies to all the HSA's,

If you have any questions about a HSA Plan - please contact our office.

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