News Archives

Student Loan Assistance and Financial Well-Being

Student loan debt continues to be a significant financial burden for millions of Americans. More than half of college students finance their education with loans, whether they attend public or private four-year institutions. As of 2023, according to Forbes, total student loan debt (including federal and private loans) stood at $1.75 trillion, or an average of $28,950 per borrower. With the moratorium on student loan payments ending in October 2023, millions of borrowers are now

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FSA vs. HRA vs. HSA Comparison Infographic

At first glance, Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), and Health Savings Accounts (HSAs) look very similar, but there are significant differences. First, let’s look at how the three accounts are alike: Drilling down further, this infographic highlights the major areas in which the three accounts are different: Flexible Spending Account (FSA) Funded by: FSAs are entirely funded by the participant, but employers may choose to contribute. Contribution limits: FSA participants make pre-tax

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DataPath Welcomes New Executives to Spearhead Growth

LITTLE ROCK (May 28, 2024) – DataPath, Inc., a trailblazer in technology solutions for the employee benefits, financial services, and insurance sectors, is proud to announce the appointment of two distinguished executives to its leadership team. Sherry Lawton steps into the role of Senior Vice President of Strategic Growth for ProsperityHSA, DataPath’s latest venture to revolutionize the Health Savings Account (HSA) landscape. With over two decades of expertise in HSA banking and consumer-directed healthcare, Lawton is

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10 Ways Outsourcing Can Revolutionize Your Company

Today’s most competitive companies are those who constantly look for ways to innovate processes, optimize operations, and deliver exceptional value. Toward that end, business process management (BPM) and business process outsourcing (BPO) can change the game for businesses of any size and in nearly any industry. By entrusting certain tasks and functions to specialized third-party providers, companies can revolutionize their operations and transform their futures. Here are 10 factors to consider. Cost Savings One of

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Eco-Friendly Benefits: Sustainability Initiatives in the Workplace

There has been a significant shift in recent years towards sustainability in all aspects of life, including the workplace. Growing environmental awareness and climate concerns are driving organizations to adopt eco-friendly practices, reducing carbon footprints and promoting stewardship. This shift is particularly evident in workplaces implementing eco-friendly benefits and sustainability initiatives. The Importance of Sustainability in the Workplace Before delving into specifics, it’s crucial to understand why workplace sustainability is so important. Businesses have a

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Understanding COBRA Eligibility: Who Qualifies and When?

Understanding the intricacies of the Consolidated Omnibus Budget Reconciliation Act (COBRA) can be challenging for employers and employees alike. It may be especially daunting when trying to understand who qualifies for COBRA coverage and when they qualify. What is COBRA? COBRA is a federal law enacted in 1985 that requires employers with 20 or more employees to offer continuation coverage. This applies only to employees and their dependents whose coverage would end due to qualifying

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HSA Contribution Limits Announced

The Internal Revenue Service (IRS) recently announced updated HSA annual contribution limits. An important part of consumer-directed healthcare, HSAs offer participants enrolled in HSA-qualified (HDHP) health plans a way to save on taxes while setting aside money for out-of-pocket healthcare expenses for themselves and their families.

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DataPath Product Manager Featured in BenefitsPRO

In an article published earlier this month, DataPath product manager Chrissy Jurik explored ways in which businesses can use benefits to help support their female employees. Women and Supportive Employee Benefits In the wake of Women’s History Month, it is an excellent time to think about how benefits advisors and employers can better support female employees. After all, the rapid rise in women working outside the home was a significant development in labor market history

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Demystifying Healthcare Costs: Employee Tips to Maximize Benefits and Save Money

Healthcare costs can be confusing, but with the right knowledge and strategies, just about everyone can navigate this complex landscape effectively. Below are some helpful tips for employees to maximize their benefits and save money in the process. Understanding Healthcare Costs Before diving into cost-saving tips, it’s essential to understand the various healthcare cost components. Healthcare expenses can include premiums, deductibles, copayments, coinsurance, and out-of-pocket maximums. Additionally, there may be other costs associated with prescription

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DataPath Launches ProsperityHSA

DataPath Financial Services, Inc. has announced the launch of ProsperityHSA (prosperityhsa.com), a program designed to create new revenue and growth opportunities in the HSA market for banking institutions, third-party employee benefit administrators (TPAs), and insurance brokers. Building on DataPath’s recent designation as an approved non-bank HSA custodian and its two decades of success in creating HSA administration technology and services, ProsperityHSA is poised to disrupt the industry’s usual HSA administration offerings. John Robbins, Jr., President

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