The Wagner Law Group Description
Wagner Law Group, A Professional Corporation, is a nationally
recognized ERISA & employee benefits, estate planning,
employment, labor & human resources practice.
in 1996, The Wagner Law Group has 23 attorneys engaged
exclusively in employee benefits, estate planning and
employment law. Seven of our attorneys are AV rated by
Martindale-Hubbell as having very high to preeminent legal abilities
and ethical standards. The firm is among the largest ERISA boutiques
in the country. Our practice is national in scope, with clients in
more than 40 states and several foreign countries.
Wagner Law Group
Fax: (561) 293-3591
7108 Fairway Drive
Palm Beach Gardens, FL 33418
Francisco, CA 94104
West Deerpath Road
Lake Forest, IL 60045
May 29, 2014
State and Federal Law
The IRS has released the 2015 dollar limits for health
savings account ("HSA") contributions, and the minimum
deductible amounts and maximum out-of-pocket expenses for high
deductible health plans ("HDHPs"). By law, these limits are
indexed annually to adjust for inflation.
The 2015 limit on contributions to HSAs is $3,350 for a
self-only HSA and $6,650 for a family HSA.
To qualify as a HDHP in 2015, a plan must have a minimum
deductible of $1,300 for self-only coverage, and $2,600 for family
coverage. The maximum out-of-pocket expenses permitted for a HDHP
(including deductibles, co-payments and other amounts, but not
premiums) is $6,450 for self-only coverage and $12,900 for a family.
IRS Reiterates Its Position on Individual Insurance
In Notice 2013-54, the IRS had stated that, beginning in
2014 (with transition rules for non-calendar year plans), PPACA
prohibits employers from reimbursing employees for the purchase of
individual health insurance contracts, unless the employer's
contribution is taxable to the employee. This guidance is broad
enough to encompass even employee-pay-all premium conversion plans
and prohibit their use to purchase individual contracts.
Now IRS has issued a Q&A on its website reiterating
its position on these arrangements, which it calls "employer
payment plans" and warning employers that "such an
arrangement fails to satisfy the [PPACA] market reforms and may be
subject to a $100/day excise tax per applicable employee."
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Pursuant to Internal Revenue Service Circular 230, we
hereby inform you that any advice set forth herein with respect to US
federal tax issues is not intended or written by The Wagner Law Group
to be used and cannot be used, by you or any taxpayer, for the purpose
of avoiding penalties that may be imposed on you or any other person
under the Internal Revenue Code.
This Newsletter is provided for information purposes by
The Wagner Law Group to clients and others who may be interested in the
subject matter, and may not be relied upon as specific legal
advice. This material is not to be construed as legal advice or
legal opinions on specific facts. Under the Rules of the Supreme
Judicial Court of Massachusetts, this material may be considered