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.
Over the years, unrealistic body standards have increased with the rise of social media. Yet despite all the pressure, obesity in America has never been higher and is a significant health concern. The impact of obesity on healthcare needs and demand is actually considered a factor in rising healthcare costs. What causes obesity in America? … More >>
Do you know how PCORI affects patients and employers? Learn more here. Two of the biggest drivers of escalating healthcare costs are the lack of knowledge about the cost of medical services and the low levels of engagement from patients in their healthcare decisions. Thanks to healthcare consumerism, this is starting to change. Healthcare consumerism … More >>
DataPath garners 10th national award for employee education and engagement program LITTLE ROCK, ARKANSAS (June 17, 2022) – DataPath, Inc., a leading developer of technology solutions for third party benefits administration, has been selected for a Bronze Award in the 24th annual Digital Health Awards® program. The company was honored for a comic book about Health Reimbursement … More >>
Attractive benefits plans are essential in today’s labor market. Smaller businesses in particular often struggle to find affordable group health insurance plans that comply with ACA regulations. Take a look at how an Individual Coverage Health Reimbursement Arrangement, or ICHRA, can help businesses. What is an ICHRA? ICHRAs are an attractive option for both employers and their … 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 a Medicare Set Aside Account? A Medicare Set Aside Account (MSA) is a settlement … More >>
Many employers are having trouble filling job openings. Avenues to attract new employees – from signing bonuses to additional paid time off – haven’t solved the problem. Human resources experts suggest looking within to see how current employees may be able to help. Reconsider Job Requirements In 2021, Forbes reported that only 36% of Americans 25 and … More >>
Linking tax-advantaged benefits accounts such as FSAs and HSAs to benefits debit cards is more convenient for everyone concerned. Employees are able to make eligible purchases without having to front the expense, file a claim, and wait for a reimbursement. Employers and TPAs usually do not have to manually process a claim due to the … More >>
Health Savings Accounts (HSAs) can help pay for health care expenses now, and both health care and other expenses in retirement. By Candy Darr Originally Published by BenefitsPROMay 18, 2022 There was a time when many American workers could anticipate sailing into retirement with profit sharing and investments, pension, Social Security benefits, and Medicare coverage. They … More >>
If your employer offers both Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs), you may be wondering if it’s possible to have both an HSA and an FSA account at the same time. HSA/FSA Accounts If you are enrolled in an HSA-eligible health plan, you can enroll in an HSA account as long as … More >>
The average American worker spent between $2,000 and $5,000 commuting to work in 2019, and the average one-way commuting time increased to nearly 30 minutes. As of early May 2022, gas prices nationwide averaged $4.37/gallon, compared to $2.94/gallon in May 2019. That has added to the resistance of many employees over returning to the … More >>
Did you know you can use your Flexible Spending Account (FSA) or Health Savings Account (HSA) for some certain nutritional expenses? Qualified medical expenses for these tax-advantaged accounts include “the costs of diagnosis, cure, mitigation, treatment, or prevention of disease, and the costs for treatments affecting any part or function of the body.” Simply put, the … More >>
For 2023, Health Savings Account (HSA) owners will be able to contribute significantly more to their accounts. For those with self-only coverage, the annual limit will be $3,850, an increase of $200. HSA owners with family coverage will be able to contribute up to $7,750, a $450 increase.
Full-featured debit card will support wide range of employee benefits programs LITTLE ROCK, ARK. (May 4, 2022) – DataPath, Inc., a leading provider of technology solutions for employee benefits administration, announced today the highly-customizable COMPASS™ debit card. COMPASS™ enables third-party administrators (TPAs) to utilize a full-featured debit card in support of almost any type of … More >>
Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), and Health Reimbursement Arrangements (HRAs) have similar acronyms, and the confusion doesn’t end there. While they all offer valuable benefits, some of those benefits overlap. If these are available, be aware of their differences and similarities to determine which is best for your needs. What are HSAs, … More >>