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What is an ICHRA? 5 Questions Employees Have About ICHRAs

Most healthcare consumers know about Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs). These popular healthcare benefit accounts allow individuals and families to cover out-of-pocket healthcare costs by setting aside money before taxes are taken out. There are rules about account eligibility, contribution limits, and more. Plus, the funds must be spent on IRS-approved healthcare products. If they spend funds on ineligible items and services, account holders could face taxes or penalties. These accounts

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Keys to Increasing HDHP and HSA Adoption: An Infographic

Offering HSAs paired with a High Deductible Health Plan are an important part of many employer-sponsored benefit plans. To improve plan and account adoption, employers, brokers, and third party administrators need to understand employees’ concerns and how an HSA with HDHP can address them.

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HRA Plan Types: A Breakdown (Infographic)

HRA infographic

Breaking Down HRA Plan Types A Health Reimbursement Arrangement (HRA) is a tax-advantaged health benefit funded and owned by employers. Depending on the type of HRA, employees can use money from the account to pay for IRS-approved healthcare expenses and health insurance premiums and it does not count toward their taxable income. Learn more about HRA plan types: HRA Plan Types Standard HRA Individual Coverage HRA (ICHRA) Excepted Benefits HRA (EBHRA) Qualified Small Employer HRA

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New DataPath Whitepaper Identifies Student Loan Repayments as Emerging Market for TPAs

Whitepaper focuses on developing market for student loan repayment assistance plans, which impacts nearly 45 million Americans LITTLE ROCK, ARKANSAS (July 7, 2020) – DataPath, Inc., a leading developer of technology solutions for employer-sponsored benefits administration, has published a whitepaper titled, “Flexible Compensation: More than Healthcare.” The whitepaper examines the positive effect that benefits such as health insurance, healthcare spending accounts, and retirement planning have on employers and workers. In particular, one benefit program rapidly

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Conversations with the CEO: Customer Support, Client Experience, and Company Identity

John Robbins, Jr., DataPath President and CEO, shares his thoughts on DataPath’s commitment to customer support and the client experience What does customer support mean to DataPath? When I think about customer support, it means going beyond the software solution. Yes, we are a solutions developer. But we are more than that. We could just sell the license to the solution and leave it at that. But since day one, DataPath has been client-focused. In

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CARES Act: HDHPs and Telemedicine; OTC Medications Become Eligible Healthcare Expenses

relief

On Friday, March 27, 2020, Congress passed the CARES Act (H.R. 748) and the President signed it into law. The $2 trillion bill was designed to provide economic relief for American citizens and business due to the COVID-19 healthcare emergency that has greatly impacted the U.S. economy. In addition to the stimulus checks and unemployment benefits the bill provided, the legislation also expanded how workers can use their healthcare benefits accounts. CARES Act Expands HDHP

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2020 Tax Deadline and HSA Contribution Deadline Extended to July 15

In response to the ongoing COVID-19 (coronavirus) pandemic, Congress and the Internal Revenue Service (IRS) have taken some key steps to ease specific concerns about taxes and healthcare benefits. Learn more about the 2020 tax deadline extension, HSA contribution extension, and HDHP updates for coronavirus treatments. 2020 Tax Deadline Extended by 3 Months The IRS officially extended the tax filing deadline, moving the date from April 15 to July 15, 2020. Tax payers (including individuals,

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HSA Excess Contributions – What Should You Do?

The federal government recognizes the strain of healthcare costs on Americans. To help ease this burden they created tools like Health Savings Accounts (HSAs), which allow healthcare consumers on high deductible health plans to set aside tax-free money to pay for medical expenses. But, as with any tax-advantaged financial tool, there is a limit on how much account holders can contribute to their HSAs every year. If you go over the annual contribution limit, the

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