On Friday, March 20, the Treasury Secretary announced the 2020 tax filing deadline was extended from April 15 to July 15. It’s everyone’s “favorite” time of the year – tax season! If you’re wondering how to handle your HSA expenses at tax time, we’ve got the information you need about taxes, HSA tax forms, and … More >>
Benefits brokers and consultants are in prime position to help their clients reshape and take a proactive approach to employee benefits. Historically, employee benefits strategies have focused on traditional healthcare and retirement offerings, but today’s employees expect a broader and more flexible benefits package.
Mental health currently represents one of the biggest healthcare challenges in the U.S. It is estimated that: One out of every five adults in the U.S. experiences a mental illness at some point in their lives Nearly 10 million adults live with a serious mental illness One-half of all chronic mental illnesses begin by the … More >>
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 … More >>
What is PCORI? Learn more about the research institute that seeks to improve patient outcomes. 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 … More >>
Health Reimbursement Arrangements (HRAs) are employer-sponsored benefit plans that allow employees to withdraw tax-free money to pay for qualified medical expenses. Unlike other types of employer-sponsored healthcare benefits, the employer owns the HRA and completely funds it; employees do not make contributions. If your employer offers an HRA, here are some important things to know about the accounts.
From an administrative standpoint, COBRA can be one of the more complex aspects of offering healthcare benefits. Complying with all the COBRA regulations is a time-consuming and often confusing task. Furthermore, businesses that fail to comply with COBRA requirements put themselves at risk of legal issues and financial penalties. Learn more about the importance of … More >>
In a new spending bill approved last week, the controversial Cadillac Tax has been permanently repealed. On December 17, 2019, the House of Representatives passed an appropriations bill that approved federal funding for 2020, repealed the Cadillac Tax, and extended PCORI, among other things. The Senate approved two days later, and then on Friday, December … More >>
LITTLE ROCK, ARKANSAS (December 12, 2019) – DataPath, Inc., a leading developer of technology solutions for employer-sponsored benefits administration, announced today the release of a whitepaper titled, “Addressing Education Gaps is Key to TPA Growth.” In the whitepaper, DataPath summarizes findings from a survey they conducted in August 2019 that focuses on employees and their … More >>
In the healthcare world, a deductible is the amount consumers must pay out-of-pocket before their health insurance coverage begins paying for covered medical services. That’s why, assuming your plan offers choices, selecting the right deductible amount is an important decision. If you own a Health Savings Account (HSA), it’s vital that you know the impact … More >>
During enrollment season, people who own a Health Savings Account (HSA), or have recently opened one, wonder, “How much should I contribute to my HSA?” HSAs are a unique tax-advantaged tool for healthcare consumers to pay for qualified healthcare expenses. Understanding how funding works with this account is key to answering the contribution question. HSA … More >>
As working parents know: childcare is expensive! Whether the kids are in daycare, before or after school care, day camps, or other care, it can put a big dent in your wallet. Costs can range from $199 – $596 per week, depending on who cares for your child. While most people think about getting healthcare … More >>
The IRS announced on November 6, 2019, contribution limits for Flexible Spending Accounts (FSAs) and other tax-advantaged benefits will go up next year. Learn more about 2020 FSA contribution limits below. 2020 FSA Contribution Limits According to the IRS, the 2020 FSA contribution limits have been increased by $50. Next year, those who participate in … More >>
DataPath employee engagement program earns gold award for HRA video LITTLE ROCK, ARKANSAS (November 7, 2019) – DataPath, Inc., a leading technology solutions provider in the employer-sponsored benefits industry, announced today that its employee education and engagement program, The Adventures of Captain Contributor, has received a 2019 Marcom Gold Award. The technology firm was cited … More >>
For most people, the transportation costs associated with getting to and from work aren’t in the same ballpark as healthcare costs. Yet, fuel costs, vehicle maintenance, parking fees, transit fares, and other associated expenditures can still add up to a sizeable expense for many. To ease this financial burden for America’s workers, the IRS created … More >>