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IRS Adjusts Health Flexible Spending Account - Barkley Risk Management

IRS Adjusts Health Flexible Spending Account and Other Benefit Limits for 2023

On October 18, 2022, the Internal Revenue Service (IRS) released Revenue Procedure 2022-38, which increases the health flexible spending account (FSA) salary reduction contribution limit to $3,050 for plan years beginning in 2023, an increase of $200 from 2022.  Thus, for health FSAs with a carryover feature, the maximum carryover amount is $610 (20% of the $3,050 salary …

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HR|Bizz Joins Alera Group

We are thrilled to announce…. Through Barkley Risk Management & Insurance, HR|Bizz has joined Alera Group, bringing over 10 years of HR experience and expertise. Lead by Rodney Bolton, HRBizz is a premier consulting firm, working with businesses across the country, providing customized human resources solutions for small to mid-sized businesses.   Barkley is always …

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Legal Alert: 6th Circuit Court of Appeals Dissolves 5th Circuit’s Stay of COVID-19 ETS

On December 17, 2021, the United States Court of Appeals for the 6th Circuit (6th Circuit) dissolved the stay of OSHA’s November 5, 2021 Emergency Temporary Standard (ETS) for private employers with 100 or more employees issued by the United States Court of Appeals for the 5th Circuit (5th Circuit).  As a result of the 6th Circuit’s …

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2021 ACA Reporting Refresher

As we get nearer to the deadline for 2021 ACA reporting, we wanted to provide you with a refresher of some of the requirements for the reporting year.  IRC Section 6055 requires insurance carriers and self-funded employers to report to the IRS and to covered individuals that the persons were covered by minimum essential coverage. …

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