HRA Quarterly Contribution Date Change
Beginning with the HRA quarterly contribution for October 2017, HRA quarterly contributions will be made on the first pay date of that month or Jan. 15, April 15, July 15 and Oct. 15. If the 15th falls on a weekend then the pay date will be on the date of the Friday prior to the 15th, just like your paycheck. This process is changing in order to improve file transmissions and the reconciliation process.
What Does “DO NOT USE” Mean on My Account Information?
The “DO NOT USE” account shown in your account information was the original account created for the HRA, which had dates that restricted reimbursements. Because some employees received reimbursements prior to this issue being corrected, the account had to be renamed, as it must now remain due to IRS regulations and audit requirements. Unfortunately, 121 Benefits is unable to put these accounts “in the background” during this plan year, but the “DO NOT USE” accounts will be set to archive at the beginning of the 2018-19 benefit plan year and will disappear. In the meantime, please disregard these accounts.
As always, if you have any questions, contact Juliette Houseman, Benefits Specialist.
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