HSA

“11 years of ACA: Consumer-directed health care accounts thrive” – BenefitsPRO Features Remarks from DataPath CMO

The ACA is in its second decade of affecting healthcare across the country. This legislation continues to have a major impact on Americans across a range of economic groups and industries. Its affects can also be felt in the CDH market. Originally Posted by BenefitsPRONovember 22, 2021 Healthcare reform has been debated for years, with many recent U.S. presidents trying to reshape the American system in different ways. The Affordable Care Act (ACA) is the

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Where We Are: COVID-19 Relief and Health Plans

Throughout the coronavirus pandemic, many relief measures have been enacted, from stimulus payments to extended deadlines to COBRA subsidies. Keeping up with these relief measures, how long they apply and what employers need to do to stay compliant can be most challenging. With expiration dates right around the corner, it’s important to know what’s coming in terms of COVID-19 relief and health plans. But before we get into that, how did we get here to

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2022 FSA Contribution Limit Increased to $2,850

On November 10, 2021, the Internal Revenue Service (IRS) announced 2022 annual limits for Flexible Spending Account (FSA) contributions, maximum carryover amounts, Transportation benefit (Transit/Commuter/Parking) contributions, and Qualified Small Employer Health Reimbursement Arrangement (QSEHRAs) amounts. The announcement was made in Rev. Proc. 2021-45. 2022 FSA Contributions The maximum health FSA contribution limit will be $2,850. Health FSAs can be used for a wide range of qualified out-of-pocket expenses. These include over-the-counter and prescription medications, deductibles,

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Is Your HSA Boosting Your Retirement Fund?

As pandemic-related losses have driven business owners to cut costs, High Deductible Health Plans (HDHPs) have enabled them to provide healthcare options to employees while minimizing premium expenses. Due to higher deductibles, HDHPs require some adjustment on the part of employees. To help with out-of-pocket costs, HDHPs are often coupled with Health Savings Accounts (HSAs). HSAs were designed to help make healthcare more affordable and give people more freedom in making healthcare choices. You can

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Press Release: New Whitepaper Examines Health of CDH Market after a Decade of the ACA

LITTLE ROCK, ARKANSAS (Nov. 1, 2021) – DataPath, Inc., a leading developer of technology solutions for employee benefits administration, has published a whitepaper titled, “Eleven Years After the Affordable Care Act, The Consumer-Directed Healthcare Market Thrives.” The paper explores the health of CDH accounts after a decade of the ACA – and concludes that it is booming. The whitepaper details many of the major provisions of the Affordable Care Act. It also examines its effects

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Double Whammy: Flu Season During a Pandemic

Flu season can be miserable even in a normal year. During a pandemic, it’s even scarier, especially if you are in a vulnerable population. This year it is more important than ever to have the latest information on available vaccinations, corresponding costs and how to pay for them. Many health insurance plans cover routine vaccinations such as flu shots with little or no cost-sharing. However, if you do have to pay for it, flu shots

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Cafeteria Plans Let Employees Choose Benefit Options

What is a cafeteria plan? Cafeteria Plans are an employer-sponsored benefit that lets employees pay certain qualified medical expenses – such as health insurance premiums for medical, dental, and vision coverage – on a pre-tax basis.  They are sometimes called Section 125 Cafeteria Plans. “Section 125” refers to the portion of the Internal Revenue Code (IRC) that regulates these pre-tax plans. “Cafeteria Plan” reflects the fact that, similar to a lunch cafeteria, you can choose

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Ready to quit smoking? Your FSA or HSA can help

Although COVID-19 was a top health story in 2020, another disturbing health trend also emerged with fewer people quitting smoking. The health dangers of smoking cigarettes have been well-documented since the U.S. surgeon general’s groundbreaking report in 1964. The number of adults who smoke was down to an estimated 14 percent in 2019, and cigarette sales steadily continued declining year after year until 2020, when they increased slightly. 1-800-QUIT-NOW, a national portal connecting callers to local

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HSA Growth: Now’s the Time to Invest Your HSA Balance

Opening a Health Savings Account (HSA) can be a great investment in your personal healthcare and financial future. Owned by the participant-employee (rather than the employer), the HSA is a versatile spending and savings account that can be used for many healthcare expenses. Since they can keep the account for life, HSA owners should adopt strategies for building their account balance and using the account to its maximum potential. Should you just save and earn

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