The pandemic has caused changes in so many areas, including the way we work. Without warning, millions of Americans found themselves working remotely, became teachers at home, and were isolated from colleagues and friends. The isolation and lack of camaraderie affected people differently. So, as employers aim to reopen offices, how can they keep employees … More >>
Throughout the coronavirus pandemic, many relief measures have been enacted, from stimulus payments to extended deadlines to COBRA subsidies. Keeping up with these relief measures, how long they apply and what employers need to do to stay compliant can be most challenging. With expiration dates right around the corner, it’s important to know what’s coming … More >>
On November 10, 2021, the Internal Revenue Service (IRS) published Rev. Proc. 2021-45, in which it announced annual limits for Flexible Spending Account (FSA) contributions, maximum carryover amounts, Transportation benefit (Transit/Commuter/Parking) contribution limits and Qualified Small Employer Health Reimbursement Arrangement (QSEHRAs) limits. 2022 FSA Contribution Limit The annual maximum 2022 FSA contribution limit will be … More >>
As pandemic-related losses have driven business owners to cut costs, High Deductible Health Plans (HDHPs) have enabled them to provide healthcare options to employees while minimizing premium expenses. Due to the higher deductibles and out-of-pocket costs, HDHPs require some adjustment on the part of employees. To help, these health plans are often coupled with Health … More >>
LITTLE ROCK, ARKANSAS (Nov. 1, 2021) – DataPath, Inc., a leading developer of technology solutions for employee benefits administration, has published a whitepaper titled, “Eleven Years After the Affordable Care Act, The Consumer-Directed Healthcare Market Thrives.” The paper explores the health of CDH accounts after a decade of the ACA – and concludes that it … More >>
Flu season is miserable even in a normal year. During a pandemic, it can be even scarier, especially if you are in a vulnerable population. It’s more important than ever to have the latest information on the available vaccinations, corresponding costs and how to pay for them. Many health insurance plans cover routine vaccinations such … More >>
Most FSA participants are familiar with the “traditional” health care expenses that qualify for FSA reimbursement. But there are other eligible expenses that you may not have heard about. Read on to learn more ways to maximize your FSA spending and lower your net healthcare costs. Flexible spending accounts (FSAs) have been around since the … More >>
Cycling is a form of exercise, a hobby, a sport, and even a means of getting back and forth to work. By 2017, more than 47.5 million Americans rode bicycles on a regular basis. As a means of exercise, it can provide high calorie burning and cardiovascular benefits. As a hobby, cycling is a great … More >>
As Americans have navigated the pandemic, we’ve had to work through many complexities. The almost immediate quarantine and shift in work environments shook our sense of security; not just of job security, but of financial security and health security as well. As part of that, it has become evident that the pandemic has changed the … More >>
Nearly 6.2 million workers were on furlough from their jobs in August 2020, according to the U.S. Bureau of Labor Statistics (BLS). While that number decreased to 1.25 million by August 2021, between 15-22% of all unemployed persons throughout 2021 were on furlough. A Flexible Spending Account (FSA) is a financial tool that helps workers … More >>
For many employees, the COVID-19 pandemic has added financial stress that can harm their ability to stay motivated and productive in their jobs. Employers can help ease the burden by including emergency savings accounts (ESAs) in their benefits package. ESAs are funded by employees through automatic payroll deductions, just as they do with healthcare spending … More >>
Cafeteria Plans are an employer-sponsored benefit that lets employees pay certain qualified medical expenses – such as health insurance premiums for medical, dental, and vision coverage – on a pre-tax basis. They are sometimes called Section 125 Cafeteria Plans. “Section 125” refers to the portion of the Internal Revenue Code (IRC) that regulates these pre-tax … More >>
Families with young children can face enormous childcare costs. It’s not uncommon for daycare fees to add up to one of the family’s largest recurring expenses each month. Fortunately, there are several ways to offset a portion of childcare expenses, including Dependent Care Flexible Spending Accounts (DCFSA), also known as Dependent Care Assistance Programs (DCAP), … More >>
With one in five U.S. adults experiencing some form of mental illness in any given year, the need for mental health care impacts many families. Yet, according to the National Alliance of Mental Illness (NAMI), 55 percent of adults and 49 percent of children ages 6-17 with a mental health issue don’t receive care. NAMI estimates that untreated … More >>
COBRA coverage can work with healthcare benefit accounts such as HSAs, HRAs, and FSAs to help former employees meet their eligible medical expenses.