Are HSAs worth the effort for TPAs? Despite the growing popularity of HSAs, third-party administrators remain cautious, unsure whether HSAs can be profitable. By Katie Kuehner-Hebert HSA administration is more scalable than the management of flexible savings accounts, as HSA administrators can dedicate fewer resources to such personnel and hardware. As the explosive growth of health savings accounts continues, third-party administrators are considering whether it’s worth it to offer HSA management services, according to a
Little Rock, Arkansas (May 2, 2018) – As the HSA market steadily continues to grow, more third-party administrators (TPAs) are looking to add HSA management services to their portfolio. A new whitepaper published by DataPath, Inc. addresses common TPA concerns about entering the HSA market: revenue opportunity, workload, and the need to juggle multiple business and banking relationships. The whitepaper, entitled “How TPAs Can Overcome Potential Pitfalls to Deliver a Unified HSA Experience and Maximize
Since 2005, the market for Health Savings Accounts (HSAs) and qualified high deductible health plans has been continuously growing, and so has the market for HSA management services. TPAs need a solution that can help them streamline benefits administration, including HSAs, to deliver an industry-leading customer experience.
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 HSA, third party administrators (TPAs) have the ability to administer all lines of service from one powerful platform. Prior to
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 investment functionality. The company claims that when Summit is expanded to include HSA and investment functionality this March, it will
In December 2017, the Tax Cuts and Jobs Act was signed into law, enacting tax reform provisions that will be in effect from 2018 through 2025 (and beyond). Among other areas, the legislation impacts employee benefits directly in two areas – transit/commuter benefits and the individual health insurance mandate required by the Affordable Care Act (ACA). Commuter Benefits Starting in 2018, employers may no longer claim the business deduction for qualified mass transit and parking
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 better understand conditions, treatment options and costs. “Consumers have a lot of options when it comes to navigating their healthcare,”
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.
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 expand Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs), health care accounts that provide Americans opportunities to save for