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QSEHRAs’ Growth and Success

For years, employers have been actively providing support for the healthcare needs of their employees. However, smaller businesses faced difficulties in managing costs and often required assistance in finding affordable healthcare options. To address these challenges, Qualified Small Employer Health Reimbursement Accounts (QSEHRAs) were created by the 21st Century Cures Act in December 2016.These accounts are growing in popularity among employers due to their appealing cost control options. So, what are QSEHRAs, how is their

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What is a Section 125 Cafeteria Plan?

A Section 125 Cafeteria Plan is an employer-sponsored benefits program that lets employees pay for certain qualified medical expenses, such as health insurance premiums, on a pre-tax basis. It’s called a “cafeteria plan” because, like the dining options at a cafeteria, employees can pick and choose the healthcare options they want, such as medical, dental, vision, and other benefits, while declining ones they don’t. It’s important to note that a Section 125 Cafeteria Plan does

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2023 Digital Health Awards

The 2023 Digital Health Awards have recognized DataPath, Inc. with two Merit awards, for a webinar and video. Lifestyle Spending Accounts – Giving New Meaning to Flexible Benefits shared highlights from our 2022 whitepaper of the same name, plus additional information. The webinar was presented live for TPAs nationwide. Captain Contributor Explains ICHRAs is the 13th explainer video produced for “The Adventures of Captain Contributor.” DataPath’s exclusive employee engagement and education program was introduced in

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LSA FAQs

Lifestyle Spending Accounts (LSAs) have been used successfully in other countries for some time now but are relatively new to the U.S. Here are answers to commonly asked questions about this very flexible benefits option. What is a Lifestyle Spending Account? LSAs are employer-funded accounts that employees can use to pay for products, services, and activities that support employee well-being. Qualified expenses may involve physical, mental/emotional, or financial health. Because LSAs do not provide tax

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HSA FAQs

Health Savings Accounts are increasing in popularity due to participants’ ability to reduce healthcare expenses, save on taxes, and put additional money aside for retirement. HSAs have been available since 2005, and people have many questions about how to qualify for an account, what expenses are eligible, how to open an account, and other Health Savings Account FAQs. Here’s what you need to know about these powerful tax-advantaged tools.

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HSAs and Workplace Wellness

Companies looking to reduce health plan costs while maximizing employee quality of life may want to consider coupling a workplace wellness program with a High Deductible Health Plan (HDHP) and Health Savings Account (HSA). Workplace Wellness Programs  Wellness programs help employees become healthier as well as better consumers of healthcare in three ways: Employers may offer wellness initiatives to help employees make better lifestyle choices and improve their health. But cost control may also be

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5 Ways to Control Rising Benefit Costs

Healthcare costs in America have risen significantly since the 1970s, leading many employers to expect modest yearly cost increases in the benefits they offer. However, the combination of current economic conditions, increased costs related to managing chronic conditions, and an aging population are leading to less manageable increases for many employers. Here are five ways TPAs can help employers continue offering high-value benefits while working to control rising benefits costs. #1 Ask Participants What They Need

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Four Generations, One Workforce: Creating a Benefits Program for All

Americans live and work longer, leading to a four-generation workforce in different life stages and with differing needs. Creating a benefits package that satisfies their varied needs can prove challenging. Diverse Needs In its latest Workplace Wellness Survey, the Employee Benefits Research Institute (EBRI) examined financial stressors as well as overall financial, emotional, and physical well-being. Financial Well-Being Financial well-being is of moderate to high concern for 28% of younger workers, 37% of middle-aged workers, and

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IRS Confirms Claim Substantiation Requirements

In a recent memorandum (TAM 202317020) from the Office of Chief Counsel, the IRS addressed claims substantiation requirements for reimbursement of medical and dependent care expenses from FSA accounts. The memo also described the tax consequences of not complying with claims substantiation requirements. This memo is vital for FSA administrators because it confirms the IRS’s position that ALL medical and dependent care claims must be substantiated in order to avoid major tax penalties resulting from

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DataPath Receives Two Communicator Awards

LITTLE ROCK, ARK. (May 9, 2023) – DataPath, Inc. has received two 2023 Communicator Awards of Excellence for strategic marketing and promotion efforts undertaken over the past year. Excellence is the competition’s highest honor. The company received Excellence recognition for its “More Over the Horizon” and “DataPath Express” direct mail campaigns. Founded nearly three decades ago, the Communicator Awards honors creative excellence for marketing and communications professionals. The 29th annual competition received 3,000 entries from agencies,

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