December Benefits Buzz (2)
Posted on: November 20, 2014Categories: HR & ComplianceHPID Requirement Delayed Indefinitely
On Oct. 31, 2014, the Centers for Medicare & Medicaid Services (CMS) announced a delay in enforcement of the Health Plan Identifier (HPID) requirement until further notice.The HPID is a standard, unique health plan identifier required by the Health Insurance Portability & Accountability Act of 1996 (HIPAA).The delay, which was announced five days before the initial deadline to obtain an HPID, means that for the foreseeable future, health plan sponsors are not required to obtain an HPID or use it in HIPAA standard transactions.CMS has not indicated if there will be a new deadline for obtaining the HPID, or when the new deadline will be. Health plan sponsors who have already obtained HPIDs should maintain records of their identifiers.This enforcement delay applies to all HIPAA-covered entities, including health care providers, health plans and health care clearinghouses. Officials responsible for enacting the delay released a statement explaining their decision was based on recommendations by a separate advisory body. Those recommendations will be reviewed while the delay is in effect.
DID YOU KNOW?
The IRS recently announced a new annual contribution limit for health Flexible Spending Accounts (FSAs) starting in 2015.
According to this guidance, for taxable years beginning in 2015, the dollar limitation on employee salary reduction contributions to health FSAs will be $2,550, an increase of $50 from the amount for 2014.
The FSA dollar limit first became effective in 2013, as part of the Affordable Care Act (ACA).
Prior to the end of 2014, cafeteria plan documents should be updated to reflect the ACA’s new health FSA dollar limit.
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