A Flexible Spending Account (FSA) is an excellent financial tool that helps millions of workers cover out-of-pocket healthcare expenses. Sponsored through an employer, an FSA is usually funded through a payroll deduction each pay period over the course of the plan year. When an employee’s job status changes due to a layoff, change in employer, … More >>
DataPath’s employee education and engagement program earns sixth national award LITTLE ROCK, ARKANSAS (June 9, 2020) – DataPath, Inc., a leading developer of technology solutions for employer-sponsored benefits, has been named an AVA Digital Gold Award winner for the second year in a row. The AVA Digital Awards recognize excellence by creative professionals who plan, … More >>
Think about this – you have a Health Savings Account (HSA) and a 401(k) through your employer. HSAs are generally thought of as a vehicle for healthcare savings – because it’s in the name – while most people understand that a 401k is used for retirement. A lot of people wonder though, which account should … More >>
The current economic situation caused by COVID-19 safety measures has millions of people wondering how they can keep their employer’s health insurance plan. Companies have been forced to furlough or layoff their workforce until the economy improves. In fact, the U.S. economy lost more than 20 million jobs in April. As such, people want to know whether or not they can sign up for COBRA continuation coverage and if they will be able to afford it.
The Internal Revenue Service (IRS) published the 2021 rates for Health Savings Accounts (HSAs) on Wednesday, May 20. The 2021 HSA contribution limits have increased as well as the maximum out-of-pocket limits for high deductible health plans. Learn more below. 2021 HSA Contribution Limits For 2021, the HSA contribution limits have increased due to inflation. … More >>
On Tuesday, May 12, the IRS published additional COVID-19 guidance for employer-sponsored healthcare benefits. Drafted to address unanticipated changes in medical and childcare costs due to the COVID-19 emergency, the two Notices relax mid-year election changes for health Flexible Spending Accounts (FSAs) and Dependent Care Assistance Programs (DCAPs). They also provide more flexibility in grace … More >>
Today’s healthcare consumers have more choice than ever when it comes to healthcare benefits. However, research suggests they are not utilizing those benefits as effectively as they could, in large part due to lack of knowledge and understanding about them. For third party administrators, understanding where the gaps exist and providing solutions to address them … More >>
On April 29, 2020, the IRS, Department of Labor, and other federal agencies published a final notice providing COVID-19 relief guidance on COBRA extensions. The notice also extended run out periods for health Flexible Spending Account (FSA) and Health Reimbursement Arrangement (HRA) plans. Learn more about the COVID-19 claims run out extension and what it … More >>
The IRS, Department of Labor, and other federal agencies released an update on COBRA extensions and claims filing due to the COVID-19 outbreak. This latest guidance comes after Congress passed the CARES Act in late March and other initiatives to ease the economic pain on American workers and companies. The final notice, published April 29, … More >>
A common question for many people, particularly during a layoff or furlough, is whether or not they are eligible for COBRA benefits. Learn more about the difference between a furlough and a layoff, COBRA eligibility, qualified events, and the cost of continuing coverage. Furlough vs Layoff A furlough is temporary, with a specific end date, … More >>
Along with the many stimulus provisions provided for in the Coronavirus Aid, Relief and Economic Security Act (CARES Act), the legislation also addressed many healthcare needs for Americans. The bill, signed on March 27, 2020, broadened the list of eligible healthcare expenses, expanded telehealth coverages for high deductible plans, and more. Nearly a month later, … More >>
John Robbins, Jr., DataPath President and CEO, shares his thoughts on DataPath’s commitment to customer support and the client experience What does customer support mean to DataPath? When I think about customer support, it means going beyond the software solution. Yes, we are a solutions developer. But we are more than that. We could just … More >>
In recent weeks, Congress and the IRS have acted to provide relief to Americans due to the COVID-19 (coronavirus) health emergency. With the passage of the CARES Act, updates to HDHPs, HSAs and other measures, businesses, workers and third party administrators have a lot of questions about these changes. See the list below for answers … More >>
On Friday, March 27, 2020, Congress passed the CARES Act (H.R. 748) and the President signed it into law. The $2 trillion bill is designed to provide economic relief for American citizens and business due to the COVID-19 healthcare emergency that has greatly impacted the U.S. economy. In addition to the stimulus checks and unemployment … More >>
In response to the ongoing COVID-19 (coronavirus) pandemic, Congress and the Internal Revenue Service (IRS) have taken some key steps to ease specific concerns about taxes and healthcare benefits. Learn more about the 2020 tax deadline extension, HSA contribution extension, and HDHP updates for coronavirus treatments. 2020 Tax Deadline Extended by 3 Months The IRS … More >>
