How COBRA Works with Healthcare Benefit Accounts
COBRA coverage can work with healthcare benefit accounts such as HSAs, HRAs, and FSAs to help former employees meet their eligible medical expenses.
HSA
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
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
WHITEPAPER: TPAs Still Have Time to Enter the Thriving HSA Market
HSAs have been around for almost two decades and continue to exhibit long-term adoption growth. However, many TPAs have been cautious about adding this account to their services menu. How can TPAs capitalize on this expanding opportunity and enter this consistently growing market?
Did Your Family Have a Change of Status? How a Mid-Year Update Could Impact Your HSA Contributions
When a Health Savings Account (HSA) owner has a change of status during the year, it affects how much he or she can contribute to their HSA. Learn how a mid-year change of status affects HSA contribution limits below. When a person with a qualified High Deductible Health Plan signs up for an HSA, the account comes with a ton of advantages. Account owners can enjoy pre-tax contributions, tax-free distributions for eligible health expenses (for
Press Release: New DataPath Whitepaper Examines Thriving HSA Market and Opportunities for TPAs
Some TPAs have been hesitant to enter the HSA market because they either do not want to compete with banks or believe that HSAs require a lot of additional work. However, there is still plenty of opportunity ahead. Those who have not yet capitalized on this still growing market can leverage their knowledge, skills, and business acumen to capture new revenue.
ARCHIVE | COVID-19 PPE Now Eligible for FSA, HRA, HSA Plans
This article was published during the COVID-19 period and reflects regulations at that time. Requirements and policies may no longer be current. Please refer to official local authorities for up-to-date guidance. The fight against COVID-19 has expanded to the purchase of personal protective equipment (PPE) items. On Friday, March 26, the IRS released Announcement 2021-7, which qualifies PPE purchased for the primary purpose of preventing the spread of COVID-19 as medical expenses under section 213(d) of
“Give That HSA Balance a Boost” – EBN Features HSA Strategy Views from DataPath CFO
Health Savings Accounts (HSAs) can be a great investment in one’s personal healthcare and financial future. Their versatility, and the fact that these accounts can be kept for life, mean that HSA owners need to adopt strategies for building and using the accounts to their full potential.
HRA vs HSA: Examining the Similarities and Differences
Do you know the difference between a HRA vs 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.
Understanding the HSA Withdrawal Penalty and Other Useful Information
Health Savings Accounts (HSAs) are a wonderful tool for saving money on healthcare expenses. When you enroll in a qualified high deductible health plan and sign up for an HSA, you contribute pre-tax money into an account then withdraw those funds for qualified healthcare expenses. When used for qualified expenses, withdrawals are tax-free. However, many HSA owners wonder if the money can be used for non-qualified expenses. If so, is there an HSA withdrawal penalty?