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IRS Announces Indexed Welfare and Fringe Benefit Plan Amounts for 2015

In Revenue Procedure 2014-61, the IRS announced indexed amounts for 2015. Among other limits, the dollar limitation on employee pre-tax payroll contributions to health flexible spending arrangements will increase to $2,550. The monthly qualified parking fringe benefit exclusion amount will be $250, while the commuter highway vehicle and transit pass amount will be $130. A ?Ç£high deductible health plan?Ç¥ must have, for self-only coverage, an annual deductible between $2,200 and $3,300, with annual out-of-pocket expenses of not more than $4,450, and for family coverage, an annual deductible between $4,450 and $6,650, with annual out-of-pocket expenses of not more than $8,150.

IRS Revenue Procedure 2014-61 can be found here.

The lawyers of our Employee Benefits and Executive Compensation Practice Group are readily able to assist companies on a nationwide basis with implementing sophisticated benefit plans and providing answers to their most challenging compensation issues. Additionally, our lawyers are well aware of the daily employee benefits challenges facing companies of all sizes and are capable of helping in-house lawyers and human resources personnel with the day-to-day advice and guidance necessary to properly administer employee benefits plans.

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