hra hsa

HRA and HSA At the Same Time? Yes!

Healthcare spending accounts, such as Health Reimbursement Arrangements (HRAs) and Health Savings Accounts (HSAs), help individuals and families pay for medical expenses. They also provide more control over how and where to pay for those expenses. One frequently asked question is, “Can a person have an HRA and HSA simultaneously?”. The answer is yes; you can have an HRA and HSA simultaneously under specific circumstances. However, to understand the advantages of having both accounts, let’s first look

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healthcare consumerism

Healthcare Consumerism Continues to Rise

Healthcare consumerism is a movement to make healthcare services more efficient and cost-effective. It transforms an employer’s health benefit plan, putting the economic purchasing power and decision-making in participants’ hands. Consumerism aims to enable patients to become wholly involved in their healthcare decisions. What drives healthcare consumerism? Customers can access features, benefits, and cost comparisons in most industries to guide their purchasing decisions. In contrast, the healthcare industry presents many choices, contact points, and service

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COVID-19 Public Health Emergency Extended Again

On January 11, 2023, the COVID-19 National Public Health Emergency (PHE) was extended for 90 days. The PHE was scheduled to expire on April 11, 2023. Update: On January 31, 2023, the Biden Administration announced their intent to end the Public Health Emergency on May 11. Effects of the PHE Extension With the extension, the temporary rule changes regarding COBRA, HIPAA, and group health plans (including FSAs and HSAs) continue. (Click here for more detailed

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New Year, New Benefits

Welcome to 2023! The new year brings a renewed focus on losing weight, staying healthy, and becoming financially healthier. Across the country, millions of us have set goals of increasing our health and wealth. However, inflation, supply chain issues, continued mental health challenges, and more can make tackling these goals even harder than usual. Financial Health Resolutions Many Americans are examining their spending and saving habits. Fidelity Investment found that when asked about financial concerns,

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Compliance Priorities for 2023

A new year is upon us, and with it, the end of many temporary, COVID-related regulatory and legislative provisions. Mercer’s U.S. Health Law and Policy team has selected the top healthcare compliance priorities for 2023. Below are highlights of 10 areas considered most likely to impact employee benefits plans. For more context and discussion, see the Mercer site and consult your qualified benefits counsel. Prescription Drugs In light of recent presidential directives, Congress and federal

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Health Reimbursement Arrangement Frequently Asked Questions

A Health Reimbursement Arrangement (HRA) is part of consumer driven healthcare. While HRAs have the same basic legal guidelines as other types of reimbursement accounts, they differ in that they’re funded exclusively by the sponsoring employer. Funding amounts and eligible expenses are unique to each employer.

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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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Halloween Health and CDH Accounts

Halloween is a favorite time of year for some, from decorations to pumpkin carving to dressing up. However, it can also be a time of pumpkin carving cuts, bumps and bruises, sprains, and even broken bones from tripping over costumes. Let’s talk about staying safe, Halloween health, and your CDH accounts. Some of the reasons why Halloween is so scary Halloween is undoubtedly fun, but dangers are lurking and parents need to be vigilant. Children’s

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Whitepaper: Changing Perceptions of Employee Benefits in a Post-Pandemic Workforce

There have been five additional pandemics recorded since the Spanish Flu infected 500 million people worldwide in 1918-1920. Even so, the SARS-CoV-2 coronavirus caught the world’s population off-guard. Americans in particular were unprepared for the immense impact that COVID-19 would have on their lives, their families, and their livelihoods. The pandemic caused dramatic changes to the American way of life. Many of these changes continue to have far-reaching effects on our living standards and some

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Inflation Reduction Act

Inflation Reduction Act May Impact Employer-Sponsored Health Plans

President Biden signed the Inflation Reduction Act (IRA) into law on August 16, 2022. Among other provisions, the IRA: Addresses aspects of the Affordable Care Act (ACA) Requires Medicare to negotiate drug prices with manufacturers Caps the cost of prescribed insulin for Medicare recipients at $35 a month Provides an insulin safe harbor for high-deductible health plans (HDHPs) Here’s how the Society of Human Resource Managers (SHRM) expects the IRA to impact employer-sponsored group health

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National Health Information Awards Winner 2022

DataPath’s one-of-a-kind employee education and engagement program, Captain Contributor, earns another national award. LITTLE ROCK, ARKANSAS (August 2, 2022) – DataPath, Inc., a leading developer of technology solutions for employer-sponsored benefits, has been named a National Health Information Awards (NHIA) winner for 2022. This is the company’s third NHIA award and 11th national award overall for creativity and effectiveness in health information delivery. The NHIA recognizes the nation’s best health information programs and materials. DataPath

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Do You Know About PCORI?

Do you know how PCORI affects patients and employers? Learn more here. 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 change. Healthcare consumerism is a movement to improve the quality of healthcare services while making delivery more efficient and cost-effective. It aims to

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Digital Health Award

DataPath Wins 2022 Digital Health Award

DataPath garners 10th national award for employee education and engagement program LITTLE ROCK, ARKANSAS (June 17, 2022) – DataPath, Inc., a leading developer of technology solutions for third party benefits administration, has been selected for a Bronze Award in the 24th annual Digital Health Awards® program. The company was honored for a comic book about Health Reimbursement Arrangements (HRAs) that it created for The Adventures of Captain Contributor™ program. This is the 10th award that the Captain Contributor

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ICHRAs can help businesses provide big benefits

Attractive benefits plans are essential in today’s labor market. Smaller businesses in particular often struggle to find affordable group health insurance plans that comply with ACA regulations. Take a look at how an Individual Coverage Health Reimbursement Arrangement, or ICHRA, can help businesses. What is an ICHRA? ICHRAs are an attractive option for both employers and their employees. Under an ICHRA, employers reimburse employees for their individual health insurance premiums instead of sponsoring a group health plan.

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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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