Got a Solution? by Dwyer Dale J.;Caldwell Sheri A.;

Author:Dwyer, Dale J.;Caldwell, Sheri A.;
Language: eng
Format: epub
Publisher: Society For Human Resource Management
Published: 2014-08-15T00:00:00+00:00

Extension of Benefits to Children Up to 26-Years-Old

Health coverage for an employee’s unmarried children until the month they attain 26 years of age is tax-free to the employee. This allows employers with cafeteria plans to permit employees to make pretax contributions to pay for this expanded benefit. This benefit also applies to self-employed individuals. The limit on pretax contributions to a health savings account, however, will be $2,500.

What this means in plain language: Employees or self-employed persons can keep their children on their employer’s health plan through the end of the month that the children turn 26. Pretax dollars (up to $2,500) can be used to pay into health savings accounts or other employer-sponsored plans for these children, just as they had been doing all along for the rest of their families.

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