RxDC Reporting Due Dec 2022 | 2023 Health FSA Limits
At Berg Benefits we value our clients and want to keep you updated on important current events relating to your benefit plans. The content below was selected to provide timely information for you and your employees.
*Please note that the Compliance Bulletin below describes in detail some action steps that your medical plan carrier (for fully insured plans) will accomplish on your behalf. For self-funded plans, most of the claims paying entities (TPAs) in conjunction with your pharmacy vendor (PBM) will do his required reporting. Berg Benefits will be in touch with all clients who need to engage this issue.
The No Surprises Act includes transparency provisions requiring group health plans to report information on pharmacy benefits and prescription drug costs to the DOL, HHS and the Treasury. This Health Care Overview provides detailed information on this reporting requirement.
On Oct. 18, 2022, the IRS announced that the dollar limit on employees' salary reduction contributions to a health FSA will increase to $3,050 for plan years beginning in 2023. Also, the health FSA carryover limit will increase to $610 for 2023. This ACA Legal Update explains the new health FSA limits for 2023.
The Live Well, Work Well newsletter is an employee newsletter produced monthly and covers topics like health, wellness, fitness, nutrition and personal finance. This month's newsletter highlights the 2022-23 flu season, medicine cabinet essentials and planning for a stress-free holiday season.