Employees, employers and TPAs all find value from a strong employer benefits package. Employer-sponsored debit cards can further bolster benefits offerings. In today’s fast-paced world, where time is of the essence, debit cards provide an efficient payment method for consumers everywhere. They eliminate the time and hassle involved in writing checks or stopping at the … More >>
Millennials are younger and healthier in comparison to their Gen X and Baby Boomer peers. Are Millennials and HDHPs with HSAs a good fit for employers and TPAs? A recent study on adults with health insurance shed light on the healthcare spending habits of the up-and-coming Millennial generation. Among the findings are that younger workers … More >>
Yesterday, the House of Representatives passed the American Health Care Act (AHCA) with a vote of 217-213. The bill now goes to the Senate for approval. In its current form, AHCA affects tax-advantaged health care accounts: Health Savings Accounts, Flexible Spending Accounts, and Health Reimbursement Arrangements. It also has tax implications for employers and people … 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.
Diversified Administration, Inc., a third party administration firm, seeks to deliver top quality to its clients. The company focuses on helping employees to maximize take-home pay and businesses to increase tax savings, lower premiums, and generate increased employee loyalty. To accomplish this, Diversified Administration, Inc. partnered with DataPath to administer consumer directed healthcare (CDH) accounts … More >>
The Cures Act allows small employers to offer Health Reimbursement Arrangements (HRAs) to their workforce to help cover the cost of medical expenses and health insurance premiums for themselves and their families. Employers and workers alike have questions about how a Qualified Small Employer Health Reimbursement Arrangement (QSEHRA) will affect them. Legal experts are in the process of interpreting the law, but here’s a list of some QSEHRA FAQs and their answers that are generally agreed upon.
When it comes to consumer driven healthcare (CDH), there are three popular employer-sponsored benefit accounts: Flexible Spending Account (FSA), Health Reimbursement Arrangement (HRA), and Health Savings Account (HSA). On first glance, when comparing an FSA vs HSA, FSA vs HRA, or HRA vs HSA, it can feel a little daunting. Each account has some overlapping similarities, but each is remarkably different.
The following infographic highlights the important points regarding the 21st Century Cures Act and standalone HRAs for insurance premium reimbursements. The Cures Act affects millions of small businesses and their employees. Learn how DataPath can help you administer small business HRAs. The 21st Century Cures Act On December 13, 2016, President Obama approved the 21st … More >>
Health Reimbursement Arrangements, better known as HRAs, are an important piece of the consumer driven healthcare market. The employer-funded account is one arm of healthcare consumerism which enables individuals to take better control of their personal medical decisions. Here are the pros and cons of this benefit account.
If you get injured this Halloween, look to your consumer directed healthcare (CDH) account to take the scare out of treating your boo-boo. Halloween is magical! All week long, people get festive by decorating their houses and lawns, carving pumpkins, and dressing up in their favorite costumes. However, when someone gets injured, Halloween can be … More >>
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 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.
Do you know the difference between a Health Reimbursement Arrangement (HRA) and a Health Savings Account (HSA)? The key difference between the two is that an HRA is employer-owned whereas an HSA is employee-owned. With an HSA, the employee keeps the account and can transfer it when he or she changes jobs. Account holders may also invest their HSA funds.