Millennials, HDHPs and HSAs

Popular with Millennials, HDHPs paired with HSAs can help employers improve employee satisfaction with healthcare benefits. Millennials are Embracing HDHPs Millennials are active supporters of consumer-directed healthcare. Now in their late 20s through early 40s, they tend to be healthier than their older workforce peers (Gen X and Baby Boomer generations) and, on average, spend less on healthcare costs. Nearly half of Millennials who are eligible for an HSA through their employer are adopting one.

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Employer-Sponsored Debit Cards Make Life Easier

In today’s fast-paced world, debit cards provide an efficient payment method for consumers everywhere. Providers can automatically track purchases, and the cardholder can easily view and manage activity online. Additionally, debit cards are accepted all over the world. For Third-Party Administrators (TPAs), account-linked debit cards can help control costs through more efficient benefits administration. Many TPA clients are savvy employers who incorporate them into their employee benefits offerings. This option allows companies to attract and

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How do Medicare Set Aside Accounts Work?

A Medicare Set Aside account, also known as an MSA, is an important component of the workers’ compensation payment landscape. Here’s the essential information you need to know about who qualifies for them, how they work, approved expenses, etc. What is a Medicare Set Aside Account? A Medicare Set Aside Account (MSA) is a settlement resulting from a workers’ compensation or personal injury claim. Settlement funds are ‘set aside’ in a special account to pay

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debit card convenience

Benefits Debit Cards: More Convenience for Everyone

Linking tax-advantaged benefits accounts such as FSAs and HSAs to benefits debit cards is more convenient for everyone concerned. Employees are able to make eligible purchases without having to front the expense, file a claim, and wait for a reimbursement. Employers and TPAs usually do not have to manually process a claim due to the automated substantiation processes that govern most benefits debit cards. So, let’s learn more about how benefits debit cards offer more

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Commuter/Transit Benefits for a New Day

The average American worker spent between $2,000 and $5,000 commuting to work in 2019, and the average one-way commuting time increased to nearly 30 minutes. As of early May 2022, gas prices nationwide averaged $4.37/gallon, compared to $2.94/gallon in May 2019.  That has added to the resistance of many employees over returning to the office to work. It has also contributed to some degree to the unprecedented readiness of workers to quit their jobs in

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Commuter Benefits

Commuter Benefits – Tax Savings, Qualified Expenses, Advantages, and More

Transportation costs related to getting to and from the workplace are rarely comparable to a person’s healthcare expenses. However, vanpools, transit passes, parking fees, and associated expenses are still significant. To ease this financial burden, the IRS created a way for commuters to save money on these work-related costs. Commuter benefits have become a staple in many employer benefits plans, especially in major metropolitan areas throughout the United States. What’s Included in Commuter Benefits The

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The Value of a Consumer Directed Healthcare Account

View the infographic below to discover the value of consumer directed healthcare accounts. The graphic features an overview of HSAs, HRAs, and FSAs, along with other helpful information. What is a Consumer Directed Healthcare Account? A consumer-directed healthcare account is a type of medical savings account that: Three Types of  CDH Accounts 1. Health Savings Account (HSA) An HSA is owned by the participant and acts like a regular bank account. Money deposited into the

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DataPath Summit: The Nation’s Best Benefits Administration Platform

DataPath has listened to the needs of TPAs everywhere to design an employee benefits administration platform that is everything they could ever need. From one simple, cloud-based platform, TPAs can now manage FSAs, HRAs, HSAs, Transit Accounts and Benefits Debit Cards from one simple centralized location.

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New Legislation on EMV Chips Won’t Affect DataPath Cards

Consumers who use debit and credit cards may have recently noticed that their cards look a little bit different. Many companies are now issuing cards with a card chip on the front, which is known as the Europay, MasterCard, and Visa (EMV). There is good reason many card issuers are using this new technology: Congressional legislation has shifted the burden of fraud liability. This is in an attempt to crack down on fraud, especially those

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