Federal Announcements on ACA, FSA, and HSA

By March 31, 2014Blog
Healthcare.gov logo

ACA in the News

Healthcare.gov logoToday is the day. Well, it was the day, but the day’s been extended.  What are we talking about?

March 31 is technically the last day of open enrollment for the Affordable Care Act’s health insurance marketplace.

So what happens if you miss the deadline?

First off, don’t panic. The Obama administration has agreed to let people sign up after open enrollment if they started their application online but got caught up with technical problems. The federal website where you can sign up for Affordable Care Act plans,was down for maintenance for several hours on Monday morning.

And there are several other exceptions that will allow you to sign up later, including “exceptional circumstances” like a natural disaster, enrollment errors and unresolved casework. Married victims of domestic abuse also can apply for an extension. See more details here.

The marketplace also will accept applications outside of the normal enrollment period for people who experience certain qualifying life events, like getting married, having a child or losing a job that provided insurance.

FSA and HSA in the News

IRS logoFurther news, the IRS released a memorandum that confirms that employees who retain any carryover in a general purpose health FSA can’t contribute to an HSA. Employees may contribute, however, if the funds are moved to an HSA-compatible health FSA or they waive carryover. You can view the official publication here

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