October 2016
 In This Issue:
 2017 HSA and HDHP Contributions For calendar year 2017, the annual limitation on HSA contributions for an individual with self-only coverage under a high deductible health plan is \$3,400 and those with family coverage can contribute \$6,750.    For calendar year 2017, a "high deductible health plan" is a health plan with an annual deductible that is not less than \$1,300 for self-only coverage or \$2,600 for family coverage, and the annual out-of-pocket expenses (deductibles, copayments, and other amounts, but not premiums) do not exceed \$6,550 for self-only coverage or \$13,100 for family coverage.
Question of the Month

Q: How are health savings account (HSA) contributions calculated?

A: HSA contributions are calculated by month. In 2016, if an individual who moves from family coverage to single coverage, the individual's maximum contribution amount is calculated as:

(X/12 x \$6,750) + (Y/12 x \$3,350) = \$____. The dollar figures used in the formula will change annually based on the IRS contribution limits.

X represents the number of months the individual was eligible under family coverage; Y represents the months the individual was eligible for single coverage.

Volunteerism in the Workplace

Did you know that providing an opportunity for your employees to give back to the community boosts engagement? At Benefits Done Right we support our employees and their desire to volunteer in our local community.

This past weekend some of our team attended the Sacramento SPCA Black and White Fur Ball. Not only did we get to dress up and enjoy a night out, but it was for a great cause - giving back to support the four-legged members of our community! How does your company incorporate volunteerism in the workplace?

Social Security Requirements for Employee Name Changes
With the end of the year approaching, it is a best practice for employers to confirm that each employee's name and Social Security Number (SSN) as displayed on his or her Social Security card, matches the employer's payroll records and year-end Forms W-2.

Is your company compliant?  Rea d our most  recent blog on  HR Done Right for all the details.
 If you missed our September newsletter, click the link below to read our December renewal reminders. These important updates will answer many questions about carrier processing times and what you and your employees can expect during this busy open enrollment season.
 Please mark your calendar for our 2017 compliance seminar, to be held January 19, 2017. You will want your entire executive team to attend. More information to follow.
 info@benefitsdoneright.com | 800-482-1817 | benefitsdoneright.com
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