Important Benefits Info for our Chamber Members involved with ChamberChoice
On October 30, 2014, the Internal Revenue Service (IRS) announced annual inflation adjustments providing for an increase in voluntary employee contributions to employer-sponsored healthcare flexible spending arrangement (FSA) to $2,550 for tax year 2015, up from the 2014 limit of $2,500.
The IRS also announced no increases from 2014 for the 2015 qualified transportation fringe benefits under IRS Section 132. For transportation in a commuter highway vehicle and any transit pass, the amount remains at $130 and the monthly limits for qualified parking continues to be $250.
- Health FSA 2015 Maximum Annual Contribution - $2,550
- Commuter/Transit - 2015 Maximum Monthly Pre-tax - $130
- Qualified Parking - 2015 Maximum Monthly Pre-tax - $250
Open enrollment for the Health Insurance Marketplace, also known as the Exchange, opens November 15, 2014, and continues until February 15, 2015. Employees are likely to hear about the Exchange open enrollment and may have questions.
If your company offers affordable, minimum value health coverage, employees may still choose to enroll in a plan through the Marketplace, but they will not be eligible for premium tax credits and other savings.
A recent report from the National Highway Traffic Safety Administration found that the annual economic cost of vehicle crashes is $277 billion, which is almost $900 for each person living in the United States.
In an effort to improve driving safety, the Network of Employers for Traffic Safety created a safe driving toolkit designed to help employers introduce a new road safety program or to refresh their existing one. The toolkit is free and can be found at trafficsafety.org/drive-
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Contact us for more information or for access to employee education materials.
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