Health Savings Accounts (HSAs) were introduced in 2003 as a way to help individuals offset high deductible health plan (HDHP) costs. Since then, they have grown steadily in both the number of accounts and account assets. Yet, despite appealing across demographic groups, HSAs still aren’t as well understood or utilized as 401k plans or IRAs. … More >>
Given the important role that the software solution can hold in the user experience equation, what should benefits brokers, TPAs and employers expect from their software providers? By John Robbins Jr. Originally Posted by BenefitsPRODecember 22, 2021 Benefit brokers, third-party administrators (TPAs) and human resource managers provide, administer and manage benefits packages for companies of … More >>
Healthcare costs are expected to trend higher by about 6.5 percent this year. COVID-19 and mental health care will drive the increase, among other health issues. But some relief is already here. Effective January 1, the No Surprises Act aims to protect patients after a service or product has already been provided by banning certain out-of-network billings and … More >>
When the pandemic hit, workers were being furloughed or laid off in droves as forced shutdowns shrank or entirely eliminated many businesses. As businesses attempt to hire people back, another phenomenon has taken shape. Workers are refusing to go back to previous jobs or quitting the ones they do have. With so many positions to … More >>
More than a third of employees in a recent survey said that the medical bills they receive after seeking care are “always or usually” a surprise to them. Yet, 28% say they pay them anyway because they don’t want to fight with the insurance company. What causes surprise medical billings? Insurance plans cover large portions … More >>
According to the Centers for Disease Control and Prevention, heart disease is the leading cause of death for both African American and Caucasian women. Despite the launch of numerous awareness initiatives, only a little more than half of women understand the risks. With understanding comes preventative measures. So let’s look at what heart disease is … More >>
Companies spend a lot of time and money creating valuable benefits plans for employees. But even after all that work, they still often get low participation. Good benefit choices require employers to help employees understand their benefits. PlanSponsor recently reported that two-thirds of employees want year-round help understanding and using their benefits. That number goes up … More >>
The ACA is in its second decade of affecting healthcare across the country. This legislation continues to have a major impact on Americans across a range of economic groups and industries. Its affects can also be felt in the CDH market. Originally Posted by BenefitsPRONovember 22, 2021 Healthcare reform has been debated for years, with … More >>
The Affordable Care Act has impacted American lives for over a decade. How has it affected the Consumer-Directed Healthcare account market? Healthcare reform has been a topic of debate since the early 20th century. Many recent U.S. presidents have endeavored to reshape the American system in varying ways. The Affordable Care Act (ACA), which became … More >>
The pandemic has changed so many areas of life, including the way we work. Without warning, millions of Americans found themselves working remotely, becoming teachers at home, and having to isolate from colleagues and friends. The isolation and lack of camaraderie affected people differently. As employers begin to reopen offices, how can they keep employees … More >>
Throughout the coronavirus pandemic, many relief measures have been enacted, from stimulus payments to extended deadlines to COBRA subsidies. Keeping up with these relief measures, how long they apply and what employers need to do to stay compliant can be most challenging. With expiration dates right around the corner, it’s important to know what’s coming … More >>
On November 10, 2021, the Internal Revenue Service (IRS) announced 2022 annual limits for Flexible Spending Account (FSA) contributions, maximum carryover amounts, Transportation benefit (Transit/Commuter/Parking) contributions, and Qualified Small Employer Health Reimbursement Arrangement (QSEHRAs) amounts. The announcement was made in Rev. Proc. 2021-45. 2022 FSA Contributions The maximum health FSA contribution limit will be $2,850. … More >>
As pandemic-related losses have driven business owners to cut costs, High Deductible Health Plans (HDHPs) have enabled them to provide healthcare options to employees while minimizing premium expenses. Due to higher deductibles, HDHPs require some adjustment on the part of employees. To help with out-of-pocket costs, HDHPs are often coupled with Health Savings Accounts (HSAs). … More >>
The COVID-19 pandemic has affected virtually every aspect of our lives. While the most prominent impact was an almost immediate quarantine and vast expansion of employees working from home, another significant consequence is how much the pandemic shook employees’ sense of security. Many businesses faced major revenue shortfalls and responded with cost-cutting measures, including layoffs … More >>
LITTLE ROCK, ARKANSAS (Nov. 1, 2021) – DataPath, Inc., a leading developer of technology solutions for employee benefits administration, has published a whitepaper titled, “Eleven Years After the Affordable Care Act, The Consumer-Directed Healthcare Market Thrives.” The paper explores the health of CDH accounts after a decade of the ACA – and concludes that it … More >>