Unlike an FSA or an HRA, both of which are owned by the employer, HSAs are owned by the individual. This means that the account owner funds the HSA, spends the money (within IRS regulations), earns interest, and chooses whether or not to invest the money. Most importantly, the individual keeps the account (HSA portability) should their employment status change due to job loss, changing company, or retirement. Employers may also choose to contribute to the HSA, but the account owner keeps the funds.
Already a popular consumer driven health account, HSA enrollment could see a significant boost during the Trump Administration. Now that the election is over, one thing on many people’s minds is President-elect Donald Trump’s healthcare plan. According to GreatAgain.gov, the incoming administration’s transition website, “A Trump Administration will work with Congress to repeal the ACA … More >>
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 >>
Flu season is upon us, which means you have two good reasons to visit your doctor or other vaccination provider to get your annual flu shot. One, it just might protect you from a miserable and potentially fatal case of the flu. Two, if you have a Flexible Spending Account (FSA) or Health Savings Account … More >>
LITTLE ROCK, Ark., — DataPath, Inc. today announced the availability of two new value-added services, ZendyHealth and WiserHealth®, for its comprehensive HSAToday® solution to help healthcare savings account (HSA) owners make informed healthcare decisions. DataPath added these two popular consumer healthcare decision-making tools into HSAToday to give account holders a single, easy-to-use platform that allows them to … More >>
IRA, 401(k), HSA? You may be thinking that one of these is not like the others. But, Health Savings Accounts (HSAs) are more valuable than you may think. While most people tend to regard HSAs solely as a way to counter the rising costs of medical care, they can also become a money-smart tool for … More >>
The United States Department of Labor (DOL) finalized a conflict of interest rule designed to ensure that investment advisors deliver the best available investment information to their clients. A fact sheet published by the Department of Labor states, the “conflict of interest final rule and related exemptions will protect investors by requiring all who provide … More >>
Since they were enacted in 2003, Health Savings Accounts (HSAs) have become an integral part of the consumer directed healthcare landscape for those with a high deductible health plan. One of the chief benefits of having an HSA is that account holders can use that money to pay for a wide range of eligible medical expenses for themselves, their spouses, and their tax dependents.
The alphabet soup of consumer directed healthcare (CDH) – FSAs, HRAs, HSAs, MERPs, MSAs – can be confusing. Some are strictly employee- or employer-funded, while others may be funded by any party. Some accounts offer rollover; others do not. Knowing the differences – like an HSA vs FSA – is important when it comes time … 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 >>
Having recently celebrated its 12th birthday, the Health Savings Account (HSA) is more popular than ever. During the first half of 2015, HSA usage grew by a whopping 42 percent compared to the same period during 2014, according to a study by Bank of America. While the Baby Boomer generation carries the highest HSA balances … 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.
It’s officially tax season! We have the information you need about taxes and HSAs, and what you need to do before April 18. As you know, tax filing season means that there are often numerous IRS forms that have to be filled out. When it comes to your HSA, there are two other very important … More >>
Bicameral Legislation Aims to Ease the Burden of Rising Health Care Costs for American Workers, Retirees with the Health Savings Act of 2016 WASHINGTON – Senate Finance Committee Chairman Orrin Hatch (R-Utah) and House Ways and Means Committee member, Congressman Erik Paulsen (R-Minn.) today introduced the Health Savings Act of 2016, legislation to simplify and … More >>