Annual Election FSA Election Increase and Final Details

On November 15, 2018, the IRS announced an increase in the health care FSA limit to $2,700 for 2019 from the 2018 limit of $2,650. Even though the annual enrollment period ended on November 15, we are offering participants who elected the maximum contribution the opportunity to increase their election for 2019. Later today, plan sponsor benefits staff will receive an e-mail from Wespath with a spreadsheet and a list of the portion of the 641 impacted individuals who are in your conference, if any. Please notify your affected participants—if desired—and return the completed spreadsheet by e-mail to Wespath by COB on Wednesday, November 28.

Between now and November 28 we are also performing audits and taking additional steps to finalize 2019 elections, which includes the following on behalf of your participants:

• This letter and document will be sent to people who enrolled in the HSA plan but didn’t complete an election for an HSA
• This letter and document will be sent to people who enrolled in an HSA plan, did elect an HSA and are 64 or older
• Notify and adjust personal contributions for anyone who exceeded the IRS’s HSA limit due to not factoring in excess premium credit
• Identification of individuals who enrolled different dependents for dental-vision and medical plans (their elections will be adjusted to match their medical plan election), and
• Identification/outreach to people who elected an FSA but did not maximize their HSA contributions for 2019

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