IRS Announces 2020 Contribution Limits

Good news! With Rev. Proc. 2019-44 the IRS has announced the annual inflation adjustments for 2020, which include increased contribution limits for the following benefit accounts:

  • Healthcare FSA annual contribution limit: $2,750 (increase of $50)
  • Transit Account monthly maximum: $270/month (increase of $5)
  • Parking Account monthly maximum: $270/month (increase of $5)

The annual limits for Dependent Care FSA will remain unchanged at $5,000 per year; $2,500 if married filing single.

Keep track of all current IRS limits at www.tasconline.com/benefits-limits.

There’s still time to earn the Provider Incentive Program trip to Killarney

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This is an exciting year at TASC as hundreds of thousands of customers are now enjoying the benefits of Universal Benefit Account! Are you making the most of this revolutionary offering? Are you on your way to earning our Provider Incentive Program trip? Top 2019 distributors will be shouting the good news from the hilltop hamlets of Killarney, Ireland!

Guests will enjoy one of the best-known five-star luxury hotels in Ireland, the Europe Hotel & Resort, overlooking the world-famous Lakes of Killarney. The Europe offers a wide range of wonderful leisure activities on the extensive grounds to help you unwind, including golf, fishing, hiking, swimming, and spa treatments.

Killarney is well known for its excellent shops, restaurants, and cosmopolitan appeal. Browse in a bookstore, admire art, or savor the delights of homemade ice cream or a pint of Guinness. You may even take an excursion to Killarney National Park, tour the nineteenth-century Victorian mansion Muckross House, visit the Gap of Dunloe and the fifteenth-century Ross Castle, and explore Ireland’s Wild Atlantic Way with stunning views on the Ring of Kerry or Dingle Peninsula.

What will you experience on the Emerald Isle?

  • VIP-style treatment at The Europe Hotel & Resort, Ireland’s Best Resort Hotel (2018 National Hospitality Award).
  • The inside scoop on latest TASC news, benefit accounts, and innovations.
  • Valuable industry “insider” meetings that will give you an edge on the competition.
  • Fine food and excellent service.
  • Exclusive excursions where you can enjoy the best of Ireland’s culture and attractions.
  • An opportunity to establish lifelong friendships with peers in the industry.

If you haven’t already done so, contact your Regional Sales Director (RSD) to create an end-of-the-year sales plan! For more information about our Provider Incentive Program, view the 2019 Rules Flyer at tascpip.com.

TASC to send multi-employee Microbusiness clients PCORI information in June

Due to requirements resulting from the Patient Protection and Affordable Care Act (PPACA), employers who offer employer-sponsored benefits are required to file IRS Tax Form 720 and pay a small fee. This will impact Plan years ending 2012-2019. Don’t worry; TASC has your multi-employee AgriPlan, BizPlan and No Limit Plan clients covered!

Fee helps to fund research and consumer-based health decisions

Established by PPACA, the Patient-Centered Outcomes Research Institute (PCORI) is charged with examining the relative health outcomes, clinical effectiveness, and appropriateness of different medical treatments by evaluating existing studies and conducting its own. The Institute will be funded in part by employer-paid fees.

This means your multi-employee AgriPlan, BizPlan, and No Limit Plan clients will have to file an additional tax form and pay a small fee by July 31st each year. The fee total will be $2.26 per Plan Participant.

What do your clients need to do?

TASC is committed to keeping your clients in compliance and backs every Plan with our Audit Guarantee. To help ensure compliance, please ask these clients to watch their mail early-June for a pre-filled IRS Tax Form 720 and instruction from TASC regarding the required PCORI information.

  • Completed form with payment should be mailed to the IRS and postmarked no later than July 31, 2018
  • Mail to the Department of Treasury, Internal Revenue Services, Cincinnati, OH 45999-0009

If you are already filing IRS Tax Form 720 for your clients, please include the PCORI calculation and fee that was sent to your client.

 

 

Building a Bright Future

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Get ready for a vibrant mountain destination! As part of our Provider Incentive Program, top 2018 distributors will earn a trip to the beautiful and charming city of Asheville, North Carolina, and stay at the grand Omni Grove Park Inn!

With its innovative culture and breathtaking mountain scenery, it’s no surprise that Asheville was named by National Geographic Travel as an “up and coming” city in its new book, World’s Best Cities: Celebrating 220 Great Destinations.

Build a bright future with us in 2018, and experience abundant rewards in Asheville:

  • Visit a welcoming, vibrant location offering adventure and tranquility.
  • Be treated VIP-style treatment at an exquisite 4-diamond property.
  • Get the inside scoop on latest TASC news, service offerings, and innovations.
  • Gain an edge on the competition via valuable industry “insider” meetings.
  • Savor some of the best regional fare—a mecca of high southern cuisine.
  • Absorb the area’s culture and attractions via exclusive excursions.
  • Establish lifelong friendships with peers in the industry.
  • Celebrate the mountain scenery in the breathtaking Blue Ridge Mountains.
  • Rejuvenate in luxury at the The Spa at Omni Grove Park Inn.

Click here to view the PIP Asheville brochure.

Be sure to work with your Regional Sales Director on how to earn the trip.

We look forward to a great year together and hope to see you in Asheville.

Balistreri – Graduate of the Leadership Greater Madison Program

Congratulations to Mario Balistreri, TASC’s most recent participant and graduate of the Leadership Great Madison program.  Leadership Greater Madison (LGM) provides advanced leadership training to help future community leaders become more aware of the issues affecting our area and the opportunities that exist to get involved. The program focuses on helping participants learn how to develop in-depth analysis of, identify resolution management approaches to, and communicate about, critical public issues while placing special emphasis on contemporary issues, challenges and opportunities, as well as “real world” options and experiences. Over a period of 10 months participants serve on an “Issue Team” and focus on specific issues facing the Dane County area. To see and learn more about what Mario’s team did, you can watch the video they prepared for their final project. Click Here to watch the video.

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