On March 5, 2018, the IRS released Revenue Procedure 2018-18 to announce changes to certain tax limits for 2018, including a reduced HSA contribution limit for individuals with family coverage under an HDHP. Employers with HDHPs should inform employees about the reduced HSA contribution limit for family HDHP coverage. Employees may need to change their HSA elections going forward to comply with the new limit. HSA Update 3.18
In the midst of receiving massive medical plan increases, this educational institution was seeking alternative solutions to reducing costs or cutting departmental funding. Lack of risk management were leading to six figure increases year over year, causing the group to take action to mitigate out of control cost increases.
HR departments must constantly adapt to new requirements from both internal and external sources. Unexpected factors like new regulations from the White House and additional workplace responsibilities commonly disrupt HR departments. These disruptors can influence HR’s trajectory for the rest of the year. 6 HR Trends to Monitor in 2018