AgriPlanNOW and BizPlanNOW HRAs are alive and well!

IRS Notice 2013-54 has caused a great deal of confusion and misinformation in the marketplace — even among industry experts. Providers are asking if they can continue to offer AgriPlanNOW and BizPlanNOW to their self-employed business owners. The answer is a resounding YES!

Most of your AgriPlanNOW and BizPlanNOW Clients won’t experience any change. Despite what you may have heard, Health Reimbursement Arrangement Plans (HRAs) that cover one employee will experience no change. It doesn’t matter if the Plan is paired with Group or Individual insurance, is for medical, dental or vision expenses, includes or doesn’t include a maximum limit cap, and so on. Simply put, most AgriPlanNOW and BizPlanNOW HRAs are not affected by this guidance.

Owners with multiple employees should still renew their Plans. A small number of TASC’s AgriPlanNOW or BizPlanNOW Clients have multiple employees and will likely experience some impact as a result of IRS Notice 2013-54. Please encourage these Clients to renew their Plan anyway! TASC will reach out to these Clients soon to learn more about their individual circumstances and will transition them to a different tax-advantaged benefit Plan if necessary. Plus we’ll ensure that your Clients’ Plans are in compliance. Please stress with your small business owners that they should not compromise their tax savings by dropping their HRA Plans. TASC will continue to monitor and respond to the nation’s Healthcare Reform legislation. As we implement necessary changes and administrative process updates to comply, we will make every effort to accomplish these changes without posing financial harm to our customers. As always, TASC will guarantee and defend Clients with compliant Plans.

Stay tuned for future updates!

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s