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New Jersey Commuter Law
On Friday, March 1, 2019, New Jersey became the first state to adopt a commuter benefit ordinance with the passage of S.1567. https://www.njleg.state.nj.us/2018/Bills/S2000/1567_R1.PDF
While some of the details regarding the implementation are still outstanding, there are a few things we do know.
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IRS Announces 2019 Adjustments
Today, the IRS announced Revenue Procedure 2018-57 which provides the 2019 cost-of-living increases for inflation for certain items. In 2019, the:
- Annual healthcare flexible spending account (FSA) contribution limits will increase $50 from the current amount of $2,650 to $2,700
- Monthly limit for transit and parking will increase $5 from the current amount of $260 to $265
- Annual maximum reimbursement for a qualified small employer health reimbursement arrangement (QSEHRA) will increase $100 for individual coverage from the current amount of $5,050 to $5,150, and the maximum reimbursement amount will increase $200 for family coverage from the current amount of $10,250 to $10,450
As a reminder, on May 10, 2018, the IRS announced 2019 health savings account (HSA) contributions limit increases. In 2019, the annual HSA contribution limit for individual coverage will increase $50 from the current $3,450 to $3,500, and the family coverage contribution limit will increase $100 from the current $6,900 to $7,000.
If you have any questions, please contact your Service Delivery Manager for more information.
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ABG Presents Donation to Safe Passage
The senior management team at American Benefits Group was pleased to present this contribution on July 26th, to Sarah Smith, Director of Development, Safe Passage, an organization dedicated to the prevention and protection from domestic violence. In recognition of ABG being recognized as the 2018 Alegeus APEX winner for Operational Excellence and Efficiency, we were honored to select Safe Passage as our charitable recipient.