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The "New" Use-It-or-Lose-It Rule: How the May 2005 IRS Guidance Affects Employers, Health FSAs, and DCAPs Training Class |
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The "New" Use-It-or-Lose-It Rule: How the May 2005 IRS Guidance Affects Employers, Health FSAs, and DCAPs Training Seminar
Under IRS guidance issued May 18, 2005, employers are permitted to design their cafeteria plans so that participants can be reimbursed for claims incurred up to 2-1/2 months after the close of a plan year.
This extended "grace period" for participants to use up their health FSA or DCAP balances will reduce forfeitures, but will cause administrative and compliance headaches for employers and administrators.
We invite you to attend our 90-minute webcast on this late-breaking development. Whether you're an employer or administrator, you need to get up to speed fast on the "new" use-it-or-lose-it rule and the numerous challenges it presents.
Here's some of what is covered:
- How does IRS Notice 2005-42 (May 18, 2005) modify the current use-it-or-lose-it rule for health FSAs and DCAPs?
- What's the deadline to adopt the necessary plan amendment? If the plan is amended during the current plan year, can the amendment apply to the current plan year?
- What should a cafeteria plan administrator do to keep the carryover pot of benefits and contributions separate from the current year's pot of benefits and contributions? What other changes will administrators need to make to their recordkeeping systems? How should a grace period and any run-out period be coordinated?
- How and when should the new use-it-or-lose-it rule be communicated to participants?
- What are the accounting concerns? What ERISA and other compliance issues are lurking? How will COBRA work?
- What issues should employers consider when deciding whether andhow to implement the new optional use-it-or-lose-it rule?
Handouts: A 22-page handout of the seminar slides and otherinformation is provided through download.
Speakers: Thomas P. McCormick, Esq. and Jody L. Dietel. Mr. McCormick is the founder of EBIA and a Contributing Author of several of EBIA's manuals, including the Cafeteria Plans manual. Ms. Dietel is President of Creative Benefits, Inc., a third-party administrator with a nationwide client list.
System Requirements: WebEx software is required to view this recorded Web seminar. If you do not already have the WebEx software installedon your system, it will be automatically downloaded and installed when you click on the link to access the seminar. Please make sure that Javascript and cookies are enabled, and that pop-up blockers are disabled.
For one registration fee ($195), you and your co-workers can gather in one office or conference room to attend the seminar. (A separate registration fee is required for each additional telephone or Web connection.) Payment is required before seminar date. If you wish to invite others to attend the seminar with you (e.g., clients, association members, or anyone else who is not employed by your employer), there's a charge of $20 per invitee-please contact us for details.
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Price |
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$195.00
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