IIAS Merchant List Grows - Update 9-20-07

The following merchants will add the Inventory Information Approval System (IIAS). Merchants using IIAS approve eligible FSA and HRA expenses at the point of purchase. No additional substantiation is required.

The merchant list is dynamic. There are additional merchants preparing to implement the standard solution, but at this time they are uncomfortable committing to details or an implementation date, and are therefore not represented on the list. The merchants that are listed have stated their intention to implement, however it is important to understand that the implementation dates are not guaranteed and could change. As we learn of additional merchants, we will share this information with you.

September 20, 2007 · Categories: General, HSA, HRA, FSA · Read article »

IRS Issues New Proposed Regulations for Cafeteria Plans

On August 6, 2007, the IRS released new Section 125 proposed regulations to clarify and update cafeteria plan rules that have been in place for the last 23 years. The New Proposed Regulations replace previous "dash one" (1984) and "dash two" (1989) regulations. The New Proposed Regulations confirm what we already know, clarify rules and add new regulations. Below is a summary of the regulations as they are now published. The IRS has requested comments by November 5, 2007 in preparation for a hearing scheduled November 15, 2007. Final regulations will be released once the input has been reviewed. The effective date is for plan years beginning on or after January 1, 2009. However, the regulations may also be depended upon now.

September 11, 2007 · Categories: General, FSA, Consultants · Read article »