News and Analysis
The ACA imposes a dollar limit on employees’ salary reduction contributions to health flexible spending arrangements (health FSAs) offered under cafeteria plans. This dollar limit is indexed for cost-of-living adjustments.
In November 2018, the IRS increased the health FSA contribution limit from $2,650 to $2,700 for taxable years beginning in 2019.
Employers should ensure that their health FSA will not allow employees to make pre-tax contributions in excess of $2,700 for 2019, and they should communicate the 2019 limit to their employees.
Questions? Contact One Source Advisors, OMA’s endorsed health care broker. 1/6/2019
From OMA Connections Partner Dinsmore: “April 1, 2019 is the first day U.S. Citizenship and Immigration Services (USCIS) may accept H-1B specialty worker petitions for the next fiscal year, which begins October 1, 2019. …
“Due to the overwhelming demand for the annual allotment of 85,000 new H-1B slots, employers who wish to file new H-1B petitions for current or future employees should do so April 1. … Last year, USCIS received 190,098 petitions within the first week of the petition period, then conducted a random lottery to determine which petitions would take the 85,000 slots.”
More from Dinsmore. 1/7/2019
Our friends at OMA Connections Partner GBQ recap the 2019 contribution limits for 401(k) and other retirement savings plans here. 1/10/2019