Palmetto Benefit Management

The Patient Protection and Affordable Care Act (PPACA) amended Section 125 to instate a $2,500 maximum contribution limit for all Flex Spending Accounts (FSA) whose taxable year begins after Dec. 31, 2012.  Currently there are no maximum levels imposed by the federal government, and most contribution caps are made by employers.  Even plans grandfathered under other provisions of health care reform cannot exceed this limit of $2,500. However, employers still have the option of lowering the employees' annual elections even further.   To ensure your company stays compliant with health reform guidelines and learn more, please give our office a call.