By The HRT News Desk DataPath, Inc., a leading innovator of employer-sponsored benefits administration solutions, announced today its new Health Savings Account (HSA) administration and investment functionality in Summit, the company’s cloud-based platform. The HSA expansion will make DataPath Summit the industry’s only SaaS solution with fully-unified CDH, investment and COBRA billing capabilities. With Summit … More >>
The Summit platform allows TPAs to be more efficient by keeping all administration together in one system. By PS Health savings account (HSA)/high-deductible health plan enrollment is increasing. To help third-party administrators (TPAs) compete in the HSA market, DataPath is expanding Summit, its cloud-based consumer-driven health (CDH) and COBRA administration platform, to include HSA and … More >>
If you are eligible for Medicare and also have an HSA, here are some things you need to know. What is Medicare? Medicare is a federal health insurance program for adults aged 65 and older, certain younger people with disabilities, and those with End-Stage Renal Disease. There are four parts to Medicare: Part A. Covers … More >>
If you manage clients on COBRA software, chances are you may manage HSAs as well. This blog addresses concerns about HSAs and COBRA and how these two work together. A great resource to help participants learn if they can pay for COBRA premiums with an HSA, if you can contribute to your HSA while on COBRA and more.
Computer technology is continually evolving. The benefits administration platforms of years past are ill-equipped to meet the demands of 21st century users, and benefits administrators are looking for increased efficiency, better data integrity, and greater value from COBRA software vendors.
For TPAs who offer HSA administration services, understanding HDHP enrollment and wellness program participation can be key when talking to clients and prospects. This article outlines the link between the two. How High Deductible Health Plans Increase Wellness Program Participation The cost of healthcare premiums continues to go up for both employers and employees. Since … More >>
Here are some enrollment season tips for TPAs during the hectic open enrollment season. It’s open enrollment time. That means Third-Party Administrators (TPAs) are making their rounds, visiting their clients and setting up their plans before the start of the new plan year. We’ve put together some enrollment season tips for benefits administrators in order … More >>
Imagine a healthcare system where everyone in the U.S. is a knowledgeable, savvy consumer of medical services. And imagine they play an active role in purchasing and consuming the services they receive. With the advent of healthcare consumerism, it may be here sooner than you think. What is Healthcare Consumerism? Healthcare consumerism is a movement … More >>
The following infographic, “A Guide to Investing Your HSA Account for Growth”, provides an overview on Health Savings Account (HSA) basics. Read below to find out why you should use your HSA for retirement, investment strategies, and more. Guide To Investing Your HSA Account for Growth Health Savings Accounts (HSAs) are more than just a … More >>
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 both an HRA and HSA at the same time?”. The … More >>
View the infographic below to discover the value of consumer directed healthcare accounts. The graphic features an overview of HSAs, HRAs, and FSAs, along with other helpful information. What is a Consumer Directed Healthcare Account? A consumer directed healthcare account is a type of medical savings account that: Helps pay for eligible medical expenses Can … More >>
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, debit cards provide an efficient payment method for consumers everywhere. They eliminate the time and hassle involved in writing checks or stopping at the ATM to get cash. Purchases are … More >>
Millennials are younger and tend to be healthier than 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 … More >>
If you have a Health Savings Account (HSA), there may be some benefits to this consumer directed healthcare account that you don’t know about. Most people understand the HSA tax savings of tax-free contributions, tax-free earnings, and tax-free withdrawals for qualified healthcare expenses. While designed primarily to help reduce the cost of healthcare, HSAs have … More >>
McGregor & Associates, Inc., a large third-party employee benefits administration firm, provides a wide range of administration and compliance services to employers. With a strong work ethic and steadfast dedication to quality service, McGregor’s staff assists employers with implementing competitive benefits programs for their employees. In 2006, McGregor sought a robust administrative solution to make … More >>