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OVER 30 YEARS of Advancing Healthcare Consumerism
Since 1979, ECFC has been advancing and advocating for working families through healthcare consumerism. Here are some of the milestones that have shaped our organization and the healthcare consumerism landscape.
The Tax Equity and Fiscal Responsibility Act (TEFRA) amends ERISA.
Mobile phones introduced.
Employers gain relief through Deficit Reduction Act. IRS introduces "Use it or lose it" rule.
The Tax Reform Act establishes tighter non-discrimination rules for employee benefits.
Proposed $500 cap on cafeteria plans is left out of Omnibus Budget Reconciliation Act.
IRS provides relief with respect to 1989 W-2 reporting for dependent care expenses.
World Wide Web is created.
The Family and Medical Leave Act is introduced. ECFC efforts get favorable guidance in IRS regulations.
Dolly, the first cloned animal is born.
The Health Insurance Portability Act (HIPAA) imposes limits on the stand alone FSA and new privacy rules.
Y2K bug fails to bite.
IRS finalizes election change regulations, significantly expanding allowable changes based on ECFC input.
HRS open new doors for health care consumerism. ECFC efforts with IRS and Treasury are recognized for changing adverse IRS position.
The Medicare Prescription Drug, Improvement and Modernization Act passed. The HSA is created.
Facebook is launched.
ECFC efforts result in acceptance of electronic payment cards.
After extensive efforts, IRS loosens "Use or Lose" provision for an FSA with the incorporation of the grace period.
HSA guidelines become more flexible, with the added ability to contribute funds via health FSA rollovers and one-time HRA transfers.
IRS proposes comprehensive regulations for cafeteria plans reflecting ECFC input.
Apple unveils the first iPhone.
Affordable Care Act is signed into law. Significant ECFC effort preserves FSAs and allows for COLA adjustment to $2,500 cap. Potentially harmful "Cadillac Tax" becomes focus.
Private health insurance benefits exchanges emerge.
After years of ECFC effort, IRS finally allows $500 carryover for the medical FSA.
"Cadillac Tax" is delayed.
ECFC celebrates 35th Anniversary.
The 21st Century Cures Act, which allows for a Qualified Small Employer HRA (QSEHRA), was enacted.
"Cadillac Tax" is given another two-year delay.