Status Change

FSAs, Status Changes, and Contributions

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…

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FSA Furlough

How Work Furloughs Affect FSA Accounts

…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…

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HSA FAQs

HSA FAQs

change HSA contributions mid-year? Yes. You may change the amount you deposit into your HSA account anytime during the plan year. If you make contributions from your paycheck, be sure…

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How much should I contribute to my HSA?

How Much Should I Contribute to My HSA?

…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…

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COVID-19 relief health plans

Where We Are: COVID-19 Relief and Health Plans

…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…

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DataPath Granted Non-Bank HSA Custodian Status

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…

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FSA FAQ

FSA FAQs

…enroll in an FSA during their employer’s open enrollment period. New hires generally have a 60-day window to enroll in an FSA. If an employee’s family status changes, they may…

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Summit HSA Disclosure Statement

…(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…

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Health FSA and DCAP Carryover Rules Approved for 2021

…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…

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Summit: National Advisors Trust

…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…

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