Health Reimbursement Arrangements, better known as HRAs, are an important piece of the consumer driven healthcare market. The employer-funded account is one arm of healthcare consumerism which enables individuals to take better control of their personal medical decisions. Here are the pros and cons of this benefit account.
Already a popular consumer driven health account, HSA enrollment could see a significant boost during the Trump Administration. Now that the election is over, one thing on many people’s minds is President-elect Donald Trump’s healthcare plan. According to GreatAgain.gov, the incoming administration’s transition website, “A Trump Administration will work with Congress to repeal the ACA … More >>
Some plans require participants to spend FSA funds before the end of the plan year or risk losing the funds altogether; others allow carryover to the next plan year. If uncertain of your plan’s requirements, check with your benefits administrator. Flexible Spending Accounts (FSAs) are a popular employer-sponsored benefit. According to a 2015 survey by … More >>
Newly released IRS inflation adjustments increase the FSA contribution limit in 2017. The Internal Revenue Service (IRS) released its inflation adjustments for 2017, which affect more than 50 tax provisions, including several consumer directed healthcare (CDH) and employer-sponsored benefit accounts. Those who participate in Flexible Spending Accounts (FSAs) and Transit accounts will see some changes. … More >>
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 >>
As part of its annual participation in Breast Cancer Awareness month, DataPath and its team members came together to raise funds for the Arkansas affiliate of Susan G. Komen® through a chili cook-off and bake sale. Headquartered in Little Rock, DataPath’s team participates in charitable events throughout the year to support various causes around central … 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 >>
LITTLE ROCK, Ark., — DataPath, Inc. today announced the availability of two new value-added services, ZendyHealth and WiserHealth®, for its comprehensive HSAToday® solution to help healthcare savings account (HSA) owners make informed healthcare decisions. DataPath added these two popular consumer healthcare decision-making tools into HSAToday to give account holders a single, easy-to-use platform that allows them to … 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, they can also become a money-smart tool for … More >>
by Art Aldridge, Vice President of Technology DataPath has been innovating software solutions for over three decades. Our founder saw potential in the benefits administration market, and under his guidance, we began blazing a path to new frontiers by developing software for tax-advantaged employer benefits back in the 1980s. Over the course of the company’s … 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 >>
Believe it or not, August is here! For many Flexible Spending Account (FSA) holders, there are only five months left before the end of their plan year and the FSA “use or lose it” policy has people thinking about how to make the most of their tax-free contributions. The great news is that back-to-school shopping … 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.