Plan now for new Flexible Spending Account limits...

Employers should start planning now for the new $2,500 Flexible Spending Account (FSA) limit that takes effect January 1, 2013, especially if their group health plan is a calendar-year plan that renews mid-year.

Contributions to a Health Savings Account (HSA) can be made until April 17, 2012 for employees eligible during the 2011 tax year.

An HSA is a tax-advantaged savings account available to employees covered under a High Deductible Health Plan (HDHP). The employee typically sets up their own account and earnings are tax free. Employers often contribute to an employee’s HSA account.