…May $7,300 (family) June $7,300 (family) July $3,650 (change to individual) August $3,650 (change to individual) September $3,650 (change to individual) October $3,650 (change to individual) November $3,650 (change to…
Changes in family status can change health insurance eligibility. But they can also affect consumer-directed healthcare accounts, prompting questions about mid-year status changes. Here’s how family status changes can affect…
…an employee’s job status changes due to layoff, termination, or retirement, FSA benefits stay behind. Furloughed employees may wonder how their status impacts FSA availability. How is a furlough different…
…update in marital status, addition or loss of a dependent, change in employment status or becoming eligible for Medicare or Medicaid. For Dependent Care FSAs, participants could update elections based…
…year. This allows you the flexibility to change as your financial needs change. How Much Should I Contribute to My HSA: Other Factors to Think About What else should you…
…and benefits consultant: Public Health Emergency Status In January 2020, a Public Health Emergency (PHE) was declared by the Secretary of the Department of Health and Human Services (HHS). During…
LITTLE ROCK, AR (November 7, 2023) – DataPath Financial Services, Inc. (DFS) announced today its approval by the Internal Revenue Service (IRS) as a Non-Bank Custodian for Health Savings Accounts…
…Many of these changes continue to have far-reaching effects on our living standards and some of them likely will become permanent. One change that falls into the latter category is…
…how they manage their healthcare during the pandemic will retain those behavioral changes. If true, then a brief examination of what’s driving changes in our industry, the technology enabling those…
…flexibility for carryover, the IRS has increased flexibility in dealing with dependents who “aged out” of the normal eligibility during the pandemic. Can I change my elections? Notice 2021-15 also…
…(see your Plan Service Provider for current limits). The annual contribution limit is the sum of the limits determined separately for each month based on the individual’s status and health…
…years ending in 2021 without a corresponding qualifying life event (change to marital status, birth/adoption or death of a dependent, change in employment status, etc.) Plan Amendments Required These changes…
…no use-it-or-lose-it rule associated with HSAs. HSAs are owned by the account holder and roll over year after year. Even if your employment status changes, the money in the account…
