916-886-5699

2100 Douglas Blvd, Roseville, CA

Estate Planning, Charitable Giving
And The Northern California Conference

The Planned Giving Department provides information to individuals that will assist them in using gift planning documents such as Wills, Trusts, Gift Annuities, Power of Attorney and Health Care Directives; that will provide for and protect family members and support God's work in Northern California and beyond.

Our department has received the highest possible accreditation by the North American Division of the General Conference of Seventh-day Adventists and certification for all of our planned giving professional staff. We are committed to assisting you with helpful information regarding the best way for you to benefit through a planned gift and to assist you with planning for the distribution of your estate. Please give us a call at 916-886-5699 and we will be happy to assist you.

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Thursday June 17, 2021

Washington News

Washington Hotline

Flexible Spending Account Options for 2021

A flexible spending account (FSA), also known as a "cafeteria" plan, enables individuals to pay for medical or dependent care expenses. There are at least 33 million employees in the U.S. who use their FSA to pay for various medical expenses.

An FSA is sponsored by many employers and allows contributions of pretax funds to the account. In 2021, an individual may contribute a maximum of $2,750. In most years, unused funds over 20% of the contribution limit are not permitted to be carried forward to the following year. This is often called the "use–it–or–lose-it" rule.

However, the Consolidated Appropriations Act of 2021 was passed in December 2020 to provide COVID–19 pandemic relief. This bill permits employers to amend FSA plans and allows an unlimited carryover of funds from 2020 to 2021 and from 2021 to 2022. Individuals are permitted to make plan changes during 2021 and 2022.

The most popular use for FSAs is for the purpose of healthcare expenses. These funds can be used to cover out–of–pocket expenses for doctors, dentists, optometrists or ophthalmologists, pharmacy prescriptions and over–the–counter medications. Many FSA accounts issue an FSA debit card or permit account holders to submit medical statements for reimbursement.

Editor's Note: The new option to carry forward an unlimited FSA balance in 2021 and 2022 is a welcome expansion of FSA benefits. Individuals who use these plans will be able to build up larger funds to protect them from potential increased medical expenses. With the increase in hospitalizations due to COVID-19, this benefit will be helpful to many individuals.

Published February 19, 2021
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Power of Attorney

If you want to be sure that a person you trust will be able to make decisions for you when you are unable to do so, you can create a power of attorney agreement for healthcare or finances. A power of attorney for healthcare allows a person (known as your agent) to make decisions about the medical care you will or will not receive. A power of attorney for finances allows your agent to manage your financial affairs. Your agent must make decisions consistent with what they know your wishes are, even if they personally disagree. If they do not know your wishes on a particular matter, they must act in your best interest. You can give your agent broad authority to make decisions related to your financial or health care needs, or you can limit their authority to certain types of decisions. Depending on your needs, we can help you create a power of attorney agreement that will be active immediately, will go into effect if you become incapacitated, or will only be in effect for a limited time or under specific circumstances.

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