On July 21, 2010, President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into Federal Law. A component of this legislation, the “Durbin Amendment,” specifically targets the processing transactions originating from debit cards and prepaid cards, this includes HRA, FSA, and HSA benefit cards.
NGE recently completed an internal wellness competition called our annual “Get Moving Charity Challenge.” Those choosing to participate were split into 3 teams. The team that exercised the most over the 8 week challenge selected a charity and NGE made a $250 donation in honor of the winning team.
Part of Healthcare Reform is the Patient Center Outcomes Research Institute (PCORI) $1.00 tax per plan participant. For HRA plans with greater than a $500 employer contribution, the employer has to pay this tax on the employees only, not on all plan participants.