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Stories and news to know
May 2020
IRS announces HSA limits for 2021
The Internal Revenue Service (IRS) just announced the new limits for 2021 within Revenue Procedure 2020-32. This update impacts both health savings accounts (HSAs) and high-deductible health plans (HDHPs). Due to the cost-of-living adjustment rules, the HSA contribution limits and maximum out-of-pocket amounts will increase. The minimum annual deductibles and HSA catch-up contribution amount will remain the same as last year.
December 2019
PayFlex named one of the 30 Smartest Companies to watch
PayFlex is promoted in CIO Bulletin as one of the 30 Smartest Companies to watch. In this online article, we share our core purpose: making it simple to plan, save, and pay for personal well-being. We’re bringing that purpose to life through innovation, technology and our obsession with the consumer experience.
December 2019
Transit benefit ordinances across the country
Various cities and states across the country are passing transit benefit ordinances. These require employers to offer pretax transportation benefits (also known as a commuter benefit plan) to their employees.
November 2019
2020 limits for FSAs, adoption assistance and transit and parking benefits
The Internal Revenue Service (IRS) recently announced annual inflation adjustments for 2020. This includes contribution limits for health care flexible spending accounts (FSAs), limited purpose FSAs, adoption assistance and transit/vanpool and parking benefits.
November 2019
Helping participants make the most of their paycheck
In conjunction with the Plan Sponsor Council of America (PSCA) HSA Committee, Cherie Moser, PayFlex Director of Consumer Solutions, shares her insights on how technology can help address one of the biggest problems with optimizing HSA adoption and use — employee education.
June 2019
PayFlex recognized as one of the top 20 most promising payment and card solution providers
In the June 2019 edition of CIOReview magazine, PayFlex is featured as an innovator in the card and payment space. PayFlex CEO and President Mike DiSimone talks about how his “no holding back” approach to leadership supports the company’s belief in experimenting and trying out new things without the fear of failure — all in support of helping members on their health care journey.
May 2019
IRS announces HSA limits for 2020
The Internal Revenue Service (IRS) recently released Revenue Procedure 2019-25. It provides the 2020 calendar year limits for health savings accounts (HSAs) and high-deductible health plans (HDHPs). Due to the cost-of-living adjustment rules of Internal Revenue Code (IRC) Section 223, HSA contribution limits, minimum annual deductibles and maximum out-of-pocket amounts will increase.
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