The IRS has provided the inflation-adjusted maximum dollar amount that may be made available for excepted benefit Health Reimbursement Arrangements for the 2021 plan year beginning after Dec. 31, 2020, and before Jan. 1, 2022. For the 2021 plan year, this amount remains $1,800. An HRA is an arrangement that’s paid for by an employer and not provided according to a salary reduction election or otherwise under a cafeteria plan. It provides reimbursements up to a maximum dollar amount for a coverage period. Any unused portion of the maximum dollar amount at the end of a coverage period is carried forward to increase the maximum reimbursement amount in subsequent coverage periods. Call or visit our website for more information! www.mjscpa.com/
