Cadillac Tax: What the Impending Tax Means for Businesses and Employees

FSA, HRA, HSA, COBRA, Insurance Payments

In recent weeks, financial experts have been discussing the Cadillac Tax that applies to health care programs, including pre-tax contributions to HSA accounts. The tax, according to Bruce Japsen of Forbes.com, “was created as part of the Affordable Care Act largely as a way to help fund subsidized benefits to the uninsured under the law. Starting … More >>

IRS Announces 2016 HSA Contribution Limits

The Internal Revenue Service (IRS) recently announced new 2016 HSA contribution limits. HSA plans are popular among workers who are enrolled in high-deductible health plans (HDHP) because they can make untaxed contributions into an account for medical expenses, reducing their overall tax bill to the IRS. In addition, account holders can roll over unused funds … More >>

Utilizing Your FSA For Back-To-School Shopping

FSAStore

August is nearly upon us which means that back-to-school shopping is right around the corner. You may realize that you still have a large sum in your Flexible Spending Account (FSA) and its “use or lose it policy” has you considering how to make the most of your contributions. This is a great time to … More >>

The Hidden Costs of Indemnity Payments

RenewCard

A recent white paper published by DataPath finds that traditional processing methods for indemnity payments may be costing claimants and businesses more than they anticipated. In an evolving 21st century world, people move frequently or work remotely, and some do not have easy access to their home banks. A staggering number of workers, an estimated 25 million people, … More >>

IRS Guidance Provides Limited Transition Relief

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 >>

DataPath Provider Payments Simplifies Reimbursements for Workers’ Compensation Payers

DataPath Provider Payments reduces expenses, potential errors and centralizes tracking LITTLE ROCK, AR (December 3, 2014) – Managing provider payments can prove both challenging and costly for workers’ compensation payers. To help streamline this process, DataPath, Inc. announced today that it has launched an electronic provider payment solution for workers’ compensation. “We discovered that a significant … More >>

RenewCard Automates Workers’ Compensation Indemnity Payment Processing

DataPath RenewCard reduces indemnity payment expenses, manual errors; simplifies tracking. /PRNewswire/ — Indemnity payments not only represent a sizable portion of workers’ compensation expenses, they also require significant administrative resources. DataPath announced today that it is introducing RenewCard, a card-based indemnity payment solution designed to streamline the process for workers’ compensation payers. “Our discussions with payers uncovered … More >>