PCORI fee-Bukaty-Hubsopt-Winter-2022

    2022 compliance corner

    Authored by Bukaty Companies on January 31, 2022

    From labor law posters to FSA limits, we have you covered. Be sure to start you new year off strong with the essential information you need to remain compliant. 

    • Labor law posters. Employers with at least one or more employees must post certain Department of Labor workplace posters in visible areas of common workspaces, typically in the breakrooms. Employers who fail to display the required posters risk penalties ranging from $110 to $10,000. If your current posters have been gathering dust, consider verifying you are displaying all the latest editions.
    • PCORI fee. Employers subject to the Patient-Centered Outcomes Research Institute (PCORI) fee should take note that the fee for plan years ending on or after October 1, 2021, and before October 1, 2022, is $2.79. This is an increase from the previous year of $2.66. To calculate the amount owed, due by July 31, multiply the fee amount by the average number of lives covered under the plan.
    • Standard mileage rates. As of January 1, 2022, the standard mileage rate for using certain transportation vehicles for work use is 58.5 cents per mile. Permitted vehicles include include car, van, pickup, or panel trucks. This new rate is a 2.5 cent increase from 2021’s rate of 56 cents. Vehicles driven for medical or moving purposes for qualified active-duty Armed Forces members have a standard mileage rate of 18 cents per gallon. The standard mileage rate for vehicles driven for charitable organization purposes is 14 cents.
    • FSA limits. Health flexible spending accounts (FSAs) traditionally accompany high deductible health plans (HDHPs) and are designed to provide members a cushion to pay for medical and prescription expenses. Contributions are deducted from employee paychecks each pay period. Each year the IRS set limits on how much an individual is allowed to contribute.
        2022 limit 2021 limit
      FSA contribution maximum $2,850


      Dependent FSA contribution maximum* $2,500 $2,500
      Maximum carryover amount $570 $550

      *if married, filing separately. $5,000 maximum per household.