Most healthcare consumers know about Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs). These popular healthcare benefit accounts allow individuals and families to cover out-of-pocket healthcare costs by setting aside money before taxes are taken out. There are rules about account eligibility, contribution limits, and more. Plus, the funds must be spent on IRS-approved … More >>
Breaking Down HRA Plan Types A Health Reimbursement Arrangement (HRA) is a tax-advantaged health benefit funded and owned by employers. Depending on the type of HRA, employees can use money from the account to pay for IRS-approved healthcare expenses and health insurance premiums and it does not count toward their taxable income. Learn more about … 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 >>
Benefits brokers and consultants are in prime position to help their clients reshape and take a proactive approach to employee benefits. Historically, employee benefits strategies have focused on traditional healthcare and retirement offerings, but today’s employees expect a broader and more flexible benefits package.
Mental health currently represents one of the biggest healthcare challenges in the U.S. It is estimated that: One out of every five adults in the U.S. experiences a mental illness at some point in their lives Nearly 10 million adults live with a serious mental illness One-half of all chronic mental illnesses begin by the … More >>
What is PCORI? Learn more about the research institute that seeks to improve patient outcomes. Two of the biggest drivers of escalating healthcare costs are the lack of knowledge about the cost of medical services and the low levels of engagement from patients in their healthcare decisions. Thanks to healthcare consumerism, this is starting to … More >>
Health Reimbursement Arrangements (HRAs) are employer-sponsored benefit plans that allow employees to withdraw tax-free money to pay for qualified medical expenses. Unlike other types of employer-sponsored healthcare benefits, the employer owns the HRA and completely funds it; employees do not make contributions. If your employer offers an HRA, here are some important things to know about the accounts.
DataPath employee engagement program earns gold award for HRA video LITTLE ROCK, ARKANSAS (November 7, 2019) – DataPath, Inc., a leading technology solutions provider in the employer-sponsored benefits industry, announced today that its employee education and engagement program, The Adventures of Captain Contributor, has received a 2019 Marcom Gold Award. The technology firm was cited … More >>
An employee benefits package is a vital tool for companies to attract and retain talented employees. It can also improve workforce health and engagement. But with four generations of people in today’s labor force, putting together a well-crafted plan that meets the needs of all employees can be a challenge. Baby Boomers nearing retirement have … More >>
Benefits education is a common concern in the workplace. Companies put together a great benefits plan only to find that their employees are not participating. The fact is, great benefits alone are not enough to make people want to use them. Employees need to be educated on what’s in the plan and how to use … More >>
Building and communicating effective benefits strategies for Generation X. This is the second part of our series on engaging and educating the different generations about their benefits. There are four generations in the U.S. labor force, from Baby Boomers to Generation Z. This blog focuses on Generation X, benefits, and engagement strategies. What do you … More >>
Healthcare benefits are complicated. Federal regulations are under constant scrutiny and frequently undergo revisions. Plan setup, account management, and compliance are just a few of the time-consuming demands that come with the job of benefits administration. While employers may think they should handle these detail-oriented duties with an in-house staff, outsourcing benefits administration to an … More >>
Health benefits are an effective tool for attracting and keeping talented employees, especially those in the upper ranks of a company. Health benefits are also a highly regulated industry, so it’s no surprise that the IRS wants to ensure that companies do not favor one group of employees over another. In particular, the IRS wants … More >>
HRAs are a flexible tax-advantaged vehicle to help employers save money while delivering a strong benefits package for their workforce. The challenge for third party administrators is finding a benefits administration solution that enables them to attract and retain clients, deliver superior service, and create flexible and complex HRA plans without overbearing constraints from their solutions provider.
Benefits brokers and consultants are in prime position to help their clients reshape and take a proactive approach to employee benefits. Historically, employee benefits strategies have focused on traditional healthcare and retirement offerings, but today’s employees expect a broader and more flexible benefits package.