Small Businesses and Viable Employee Benefits

According to the U.S. Small Business Administration, 99.9% of American businesses are considered small in terms of employment, with fewer than 500 workers on the payroll. While all companies struggle at times with hiring, retaining, and engaging talent, the challenge for small businesses can be greater due to having a comparatively leaner benefits program. However, as more creative benefits enter the marketplace, small businesses may find more viable employee benefit options. Small Businesses Employment Challenges Recent

Home » QSEHRA

QSEHRAs’ Growth and Success

For years, employers have been actively providing support for the healthcare needs of their employees. However, smaller businesses faced difficulties in managing costs and often required assistance in finding affordable healthcare options. To address these challenges, Qualified Small Employer Health Reimbursement Accounts (QSEHRAs) were created by the 21st Century Cures Act in December 2016.These accounts are growing in popularity among employers due to their appealing cost control options. So, what are QSEHRAs, how is their

Home » QSEHRA

5 Ways to Control Rising Benefit Costs

Healthcare costs in America have risen significantly since the 1970s, leading many employers to expect modest yearly cost increases in the benefits they offer. However, the combination of current economic conditions, increased costs related to managing chronic conditions, and an aging population are leading to less manageable increases for many employers. Here are five ways TPAs can help employers continue offering high-value benefits while working to control rising benefits costs. #1 Ask Participants What They Need

Home » QSEHRA

Healthcare Consumerism Continues to Rise

Healthcare consumerism is a movement to make healthcare services more efficient and cost-effective. It transforms an employer’s health benefit plan, putting the economic purchasing power and decision-making in participants’ hands. Consumerism aims to enable patients to become wholly involved in their healthcare decisions. What drives healthcare consumerism? Customers can access features, benefits, and cost comparisons in most industries to guide their purchasing decisions. In contrast, the healthcare industry presents many choices, contact points, and service

Home » QSEHRA

What is an HRA?

HRA BasicsWhat is an HRA? Health Reimbursement Arrangements (HRAs) are tax-advantaged arrangements that reimburse individuals for qualified healthcare costs. HRAs were first acknowledged by the IRS in 2002 as benefits that employers could offer current and former employees, including retirees.  Legislative and regulatory activity has since modified some of the rules about HRAs and created new types, including Group Benefit HRAs, Individual Coverage HRAs (ICHRAs), Qualified Small Employer HRAs (QSEHRAs), and Excepted Benefit HRAs (EBHRAs).FundingEmployers fund HRAs to reimburse

Home » QSEHRA

Health Reimbursement Arrangement Frequently Asked Questions

A Health Reimbursement Arrangement (HRA) is part of consumer driven healthcare. While HRAs have the same basic legal guidelines as other types of reimbursement accounts, they differ in that they’re funded exclusively by the sponsoring employer. Funding amounts and eligible expenses are unique to each employer.

Home » QSEHRA

2022 FSA Contribution Limit Increased to $2,850

On November 10, 2021, the Internal Revenue Service (IRS) announced 2022 annual limits for Flexible Spending Account (FSA) contributions, maximum carryover amounts, Transportation benefit (Transit/Commuter/Parking) contributions, and Qualified Small Employer Health Reimbursement Arrangement (QSEHRAs) amounts. The announcement was made in Rev. Proc. 2021-45. 2022 FSA Contributions The maximum health FSA contribution limit will be $2,850. Health FSAs can be used for a wide range of qualified out-of-pocket expenses. These include over-the-counter and prescription medications, deductibles,

Home » QSEHRA

HRA Plan Types: A Breakdown (Infographic)

Breaking Down HRA Plan Types A Health Reimbursement Arrangement (HRA) is a tax-advantaged health benefit funded and owned by employers. Depending on the type of HRA, employees can use money from the account to pay for IRS-approved healthcare expenses and health insurance premiums and it does not count toward their taxable income. Learn more about HRA plan types: HRA Plan Types Standard HRA Individual Coverage HRA (ICHRA) Excepted Benefits HRA (EBHRA) Qualified Small Employer HRA

Home » QSEHRA

New Captain Contributor HRA Materials from DataPath: Press Release

DataPath releases new HRA materials for award-winning employee engagement program LITTLE ROCK, ARKANSAS (September 24, 2019) – DataPath, Inc., a leading developer of technology solutions for employer-sponsored benefits, announced today that it has released new materials for its award-winning The Adventures of Captain Contributor™ education and engagement program. Focused on Health Reimbursement Arrangements (HRAs), these new materials include a comic book, video, and fact sheets. In the new comic book and video, benefits superheroes Captain

Home » QSEHRA

IRS and Other Agencies to Create New HRA Types

The Internal Revenue Services (IRS) issued a final rule to create two new types of Health Reimbursement Arrangements (HRAs). The newly created Individual Coverage HRA (ICHRA) and the Excepted Benefit HRA will go into effect on January 1, 2020.

Home » QSEHRA