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The U.S. Treasury Department and the Internal Revenue Service (IRS) have issued Notice 2005-42, which will allow employers to extend the deadline for employees to spend funds held in Flexible Spending Arrangements (FSAs) by up to 2½ months after the end of the calendar year. Benefits Providers Missing Out On Cross Selling Opportunities Just 14% of 401(k) plan participants currently own additional products and services from their retirement plan provider, but as many as two-thirds of these employees are open to the idea of purchasing other benefits, according to a study by financial services consulting firm Spectrem Group. Early Adopters Of HSAs Report On Lessons Learned The Health Savings Account (HSA), a tax-advantaged medical expenses account that has been available since January 2004, is becoming increasingly popular with employers looking for ways to reduce their health insurance expenditures. States Threatening To Compel Employers To Provide Health Insurance Pressure on employers is mounting as 30 states consider legislation that would require businesses to provide health insurance to workers, contribute to the cost of covering the uninsured, or otherwise penalize companies employing uninsured workers, according to a report released by the HR Policy Association. |
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