we design, implement and administer flexible benefit plans so you can take care of what matters most.
Unity Benefit Services, Inc., is a public accounting firm specializing in complete Flexible Benefit Plan, Cafeteria Plan, Health Reimbursement Arrangement (HRA), and Health Savings Account (HSA) administrative services to both employers and their employees.
We benefit employers who want to increase profit, save taxes, control health insurance costs and offer meaningful employee benefits.
We partner with insurance professionals who desire a trusted business partner in helping clients address rising health insurance costs and financial professionals who understand the power of tax savings in helping businesses and individuals achieve their financial goals.
Medical Mileage Rate Increases Today
Gas prices have risen to such an extent that the IRS has adjusted the medical mileage rate for use of personal vehicles to obtain medical care. The IRS announced on June 23 that the standard rate of a personal vehicle for mileage incurred in obtaining medical care will be 27 cents per mile. The new rate goes into effect on July 1 and will remain in place until the end of 2008. However, the mileage rate effective January 1 - June 30, 2008 remains at 19 cents per mile for obtaining medical care. Ordinarily, the IRS issues the new medical mileage rate only once, and it is applicable throughout the calendar year. The last time the IRS adjusted the rate during the year was in 2005; it increased the rate by 8 cents that year as well.
Assuming medical mileage is an eligible expense under your employer’s benefit plan, you can use the medical mileage rate to claim the qualified expense of using your vehicle for obtaining medical care.
2008 HSA Limits Announced
The IRS has announced the 2008 HSA limits adjusted for cost of living increases as follows:
HSA Contribution Limit: $2,900 self-only; $5,800 family
Out-of-pocket Maximum: $$5,600 self-only; $11,200 family
President Bush signs HSA legislation today as part of the Tax Relief and Health Care Act of 2006
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