FSA, HRA, and HSA Account Holders Receive Congressional Boost

FSA, HRA, and HSA Account Holders Receive Congressional Boost

On July 6, 2016, the House of Representatives passed a significant piece of legislation that affects millions of Americans who receive employer benefits. H.R. 1270, the Restoring Access to Medication and Improving Health Savings Act of 2016, was first introduced in March 2015, and passed the House this July with a vote of 243-164. The … More >>

Limited Purpose FSAs

Limited Purpose FSAs

As part of the employer benefits landscape, many people have heard of the big three in consumer directed healthcare: Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), and Health Savings Accounts (HSAs). But have you heard of Limited Purpose FSAs? Here’s a list of frequently asked questions (FAQs) and their answers to help you get … More >>

HSA vs FSA – Breaking Down the Differences

FSA, HRA, HSA, COBRA, Insurance Payments

The alphabet soup of consumer directed healthcare (CDH) – FSAs, HRAs, HSAs, MERPs, MSAs – can make it a challenge to keep track of which accounts provide what benefits. Some are strictly employee- or employer-funded, while others may be funded by any party. Some accounts offer rollover; others do not. Knowing the differences is important … More >>

FSA Eligible Expenses

Summit

Flexible Spending Accounts, known as FSAs, are an important part of consumer directed healthcare. The tax-advantaged accounts allow participants to pay for out-of-pocket medical expenses that may not be covered by their health insurance plans. Many companies offer FSAs as part of their employer-sponsored benefits packages. It’s estimated that 43 percent of all civilian (non-government) … More >>

Commuter Benefits – What You Need to Know

Transit

Commuter benefits have become a staple in many employer benefits plans, especially in major metropolitan areas around the United States. Commuter expenses add up quickly and become quite costly when you take into consideration fuel costs, vehicle maintenance, parking fees, transit fares, and other associated expenditures. Thankfully the IRS created a way for commuters to … More >>

White Paper: Assessing the Benefits of an End-to-End Card Processor in the Consumer Directed Healthcare Market

FSA, HRA, HSA, COBRA, Insurance Payments

DataPath, Inc. recently published a white paper that assesses the benefits of an end-to-end CDH card processor in the consumer directed healthcare market and suggests a remedy that addresses these critical concerns. The chief problem is the involvement of multiple parties in the payment process, which results in myriad complications for all parties. This convoluted … More >>

White Paper: Assessing the Benefits of an End-to-End Card Processor in the Consumer Directed Healthcare Market

FSA, HRA, HSA, COBRA, Insurance Payments

When considering an account-linked payment card for employer benefits, TPAs must find a solution that provides improved security, accountability, and flexibility for all parties involved in the transaction. Introduction The rise of consumer directed healthcare (CDH) during the past decade has led many employers to seek new methods to incent plan enrollment and enable employees to access … More >>

Benefits Debit Cards Offer Convenience and Practicality

Benefits Debit Card

Today’s reality highlights the need for benefits debit cards: in a 21st century, first-world society, card payments are the norm rather than the exception. Card payment terminals are found just about everywhere – doctors’ offices, pharmacies, grocery stores, retail shops, taxicabs, subway stations, and more. With consumers utilizing debit and credit cards more and more … More >>

DataPath Summit: The Nation’s Best Benefits Administration Platform

Summit

According to a recent study conducted by SHRM, employer-sponsored benefits increased by 35 percent in 2015, which is a seven percent increase from the previous year. This statistic, coupled with the study’s finding that “job seekers place greater importance on health care coverage … and on other benefits rather than their base salaries” points to … More >>

ECFC RELEASE: Hatch, Paulsen Introduce Bill to Enhance HSAs, FSAs

Bicameral Legislation Aims to Ease the Burden of Rising Health Care Costs for American Workers, Retirees with the Health Savings Act of 2016 WASHINGTON – Senate Finance Committee Chairman Orrin Hatch (R-Utah) and House Ways and Means Committee member, Congressman Erik Paulsen (R-Minn.) today introduced the Health Savings Act of 2016, legislation to simplify and … More >>

High Commuter Costs are Siphoning Money from Workers’ Wallets

Transit

According to a recent article featured on CNN Money, commuters in the United States spend an average of $2,600 annually on their daily commute. This comes out to about $10 per day getting to and from the work place. Furthermore, 60% of survey respondents reported an increase in their commuting costs as compared to 19% … More >>

Cadillac Tax: What the Impending Tax Means for Businesses and Employees

FSA, HRA, HSA, COBRA, Insurance Payments

In recent weeks, financial experts have been discussing the Cadillac Tax that applies to health care programs, including pre-tax contributions to HSA accounts. The tax, according to Bruce Japsen of Forbes.com, “was created as part of the Affordable Care Act largely as a way to help fund subsidized benefits to the uninsured under the law. Starting … More >>

Utilizing Your FSA For Back-To-School Shopping

FSAStore

August is nearly upon us which means that back-to-school shopping is right around the corner. You may realize that you still have a large sum in your Flexible Spending Account (FSA) and its “use or lose it policy” has you considering how to make the most of your contributions. This is a great time to … More >>