If you get injured this Halloween, look to your consumer directed healthcare (CDH) account to take the scare out of treating your boo-boo. Halloween is magical! All week long, people get festive by decorating their houses and lawns, carving pumpkins, and dressing up in their favorite costumes. However, when someone gets injured, Halloween can be … More >>
Flu season is upon us, which means you have two good reasons to visit your doctor or other vaccination provider to get your annual flu shot. One, it just might protect you from a miserable and potentially fatal case of the flu. Two, if you have a Flexible Spending Account (FSA) or Health Savings Account … More >>
The thought of losing health insurance coverage is scary. This informative blog answers the most frequently asked questions (FAQs) about COBRA by participants. If you’re a COBRA administrator, this page is a great resource for your employer groups. This extensive list of FAQs describes what COBRA is, who qualifies, how coverage works and more.
IRA, 401(k), HSA? You may be thinking that one of these is not like the others. But, Health Savings Accounts (HSAs) are more valuable than you may think. While most people tend to regard HSAs solely as a way to counter the rising costs of medical care, an HSA account can also help you generate … More >>
The United States Department of Labor (DOL) finalized a conflict of interest rule designed to ensure that investment advisors deliver the best available investment information to their clients. A fact sheet published by the Department of Labor states, the “conflict of interest final rule and related exemptions will protect investors by requiring all who provide … More >>
A Medicare Set Aside account, also known as an MSA, is an important component of the workers’ compensation payment landscape. Here’s the essential information you need to know about who qualifies for them, how they work, approved expenses, etc.: What is an MSA? An MSA is a settlement resulting from a workers’ compensation or personal … More >>
Since they were enacted in 2003, Health Savings Accounts (HSAs) have become an integral part of the consumer directed healthcare landscape for those with a high deductible health plan. One of the chief benefits of having an HSA is that account holders can use that money to pay for a wide range of eligible medical expenses for themselves, their spouses, and their tax dependents.
The alphabet soup of consumer directed healthcare (CDH) – FSAs, HRAs, HSAs, MERPs, MSAs – can be confusing. Some are strictly employee- or employer-funded, while others may be funded by any party. Some accounts offer rollover. Others do not. Knowing the differences – like an HSA vs FSA – is important when it comes time … More >>
Flexible Spending Accounts, known as FSAs, are an important part of consumer directed healthcare. The tax-advantaged accounts allow participants to pay for out-of-pocket medical expenses that may not be covered by their health insurance plans. Many companies offer FSAs as part of their employer-sponsored benefits packages.
Today’s monetary environment highlights the need for benefits debit cards. In a 21st century, first-world society, card payments became the norm rather than the exception. Card payment terminals are found just about everywhere – doctors’ offices, pharmacies, grocery stores, retail shops, taxicabs, subway stations, and more. With consumers utilizing debit and credit cards more and … More >>
Since its inception in 2003, the Health Savings Account (HSA) is more popular than ever. HSAs are attractive across age ranges. According to Devenir’s 2020 demographic survey, Americans over 50 hold over 50% of HSA’s assets. And millennials are embracing the concept with almost 1 in 5 Americans in their 30s holding accounts. The 2020 … More >>
DataPath has listened to the needs of TPAs everywhere to design an employee benefits administration platform that is everything they could ever need. From one simple, cloud-based platform, TPAs can now manage FSAs, HRAs, HSAs, Transit Accounts and Benefits Debit Cards from one simple centralized location.
The cost of work travel for commuters is high and hits them in time and in their wallets. According to Business Insider in 2019, workers spent between $2,000 and $5,000 annually on transportation. And as far as time spent, the U.S. Census Bureau calculated the average one-way commute went up to almost 30 minutes in … More >>
During back-to-school planning, if you are shopping for supplies and things to make the school year easier, consider looking at your FSA (Flexible Spending Account). This is a great time to put your remaining FSA dollars to good use to make the most of your contributions. Families may be asked to provide some basic first … More >>
As part of Notice 2015-7, the IRS issued guidance on Feb. 18 providing limited transition relief for certain premium reimbursement plans, including: Individual market premium reimbursement arrangements (PRAs), also known as employer payment plans as defined in Notice 2013-54; Medicare premium reimbursement arrangements; and, Reimbursement arrangements supplementing Tricare. The relief does not extend to stand-alone HRAs or … More >>