Halloween is a favorite time of year for some, from decorations to pumpkin carving to dressing up. However, it can also be a time of pumpkin carving cuts, bumps and bruises, sprains, and even broken bones from tripping over costumes. Let’s talk about staying safe, Halloween health, and your CDH accounts. Some of the reasons why Halloween is so scary Halloween is undoubtedly fun, but dangers are lurking and parents need to be vigilant. Children’s
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.
President Biden signed the Inflation Reduction Act (IRA) into law on August 16, 2022. Among other provisions, the IRA: Here’s how the Society of Human Resource Managers (SHRM) expects the IRA to impact employer-sponsored group health plans. ACA Subsidies Extended to 2025 The American Rescue Plan of 2021 (ARPA) expanded access to premium tax credits (PTCs) that subsidize the purchase of health insurance on the ACA marketplace. The IRA extends those subsidies through 2025. According
Experts predicted that travel would be hectic this summer and fall, and boy, they weren’t kidding. Whether vacationing or resuming business travel, you’ve had to deal with high gas prices and delayed, if not entirely canceled flights, among other stressful issues. Check out these FSA, HSA, and LSA eligible expenses that can help ease travel stress. 1. Pack Those Medications Do you have enough prescription medication with you to treat existing conditions if you get
According to the National Institutes of Health, 1 in 3 Americans does not get enough sleep. This can lead to significant health issues as well as problems with workplace performance. Sleep Recommendations Adults age 18 and up should get between 7 and 9 hours of sleep a night. For those who have trouble doing that, the CDC has some recommendations: Common Causes of Sleep Problems There are a number of causes for sleep problems. Some
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.
Linking tax-advantaged benefits accounts such as FSAs and HSAs to benefits debit cards is more convenient for everyone concerned. Employees are able to make eligible purchases without having to front the expense, file a claim, and wait for a reimbursement. Employers and TPAs usually do not have to manually process a claim due to the automated substantiation processes that govern most benefits debit cards. So, let’s learn more about how benefits debit cards offer more
Health Savings Accounts (HSAs) can help pay for health care expenses now, and both health care and other expenses in retirement. By Candy Darr Originally Published by BenefitsPROMay 18, 2022 There was a time when many American workers could anticipate sailing into retirement with profit sharing and investments, pension, Social Security benefits, and Medicare coverage. They felt secure that their golden years would be filled with rest, peace of mind, and few worries about medical bills.
If your employer offers both Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs), you may be wondering if it’s possible to have both an HSA and an FSA account at the same time. HSA/FSA Accounts If you are enrolled in an HSA-eligible health plan, you can enroll in an HSA account as long as you aren’t also enrolled in Medicare or have some other, disqualifying coverage. Traditional FSA accounts cover most of the same
Did you know you can use your Flexible Spending Account (FSA) or Health Savings Account (HSA) for some certain nutritional expenses? Qualified medical expenses for these tax-advantaged accounts include “the costs of diagnosis, cure, mitigation, treatment, or prevention of disease, and the costs for treatments affecting any part or function of the body.” Simply put, the eligible nutritional item has to relieve or prevent a physical or mental defect or illness. Eligible expenses must have a