What You Need To Know About Compliance For Your Tax Advantaged Reimbursement Plans
Many employers seek to provide extra financial support to their employees through one or more tax-advantaged reimbursement programs.
THESE MIGHT INCLUDE:
• Health Reimbursement Arrangements (“HRAs”)
• Health Savings Accounts (“HSAs”)
• Health Care Flexible Spending Accounts (“HCFSAs”)
• Limited Purpose (and Post-Deductible) Health Care Flexible Spending Accounts (“LPFSAs”)
• Dependent Care Flexible Spending Accounts (“DCFSAs”), aka Dependent Care Assistance Programs (“DCAPs”)
While each of these accounts provide valuable benefits to employees and share many structural similarities, they differ dramatically in administrative and compliance requirements.
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