The CARES Act created a temporary safe harbor that allows (but did not require) a HDHP health plan with a health savings account (HSA) to cover telehealth and remote care services prior to the member reaching their plan’s deductible. The CARES Act provision extended the safe harbor for plan years beginning on or before December 31, 2021. Members [...]
The Internal Revenue Service released its 2020 Health Savings Account Inflation Adjustment Limits. A comparison of the 2019 and 2020 limits are listed below. The ACA maximum out-of-pocket limits have also been adjusted. The ACA uses a different adjustment calculation than the IRS when setting HSA limits year over year.
Now that the makeup of the new Congress has been decided, many employers are hoping Washington can work together to address a few of their important concerns. High on many lists, especially those belonging to large employers, would be doing away with the Cadillac Tax on high-cost health plans once and for all. While implementation [...]
This article was published on November 6, 2018 on Employee Benefit News, written by Kathryn Mayer. HSA: A savings account without the saving? By and large, employees who are enrolled in a health savings account are using them as spending accounts rather than as tax-free long-term savings accounts, according to new research from Willis Towers [...]
This article was published on July 26, 2018 on BenefitsPro, written by Greg Land. Photo Source: BenefitsPro. On Wednesday, the House of Representatives adopted two health care bills, H.R. 6199 and H.R. 6311, that expand tax-advantaged health care accounts, including Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), and Health Reimbursement Arrangements (HRAs). Previous versions [...]
Yesterday, the House passed two bills that would expand HSA coverage: The Restoring Access to Medication and Modernizing Health Savings Accounts Act of 2018 (HR 6199) This Act would: Allow plans flexibility in providing first dollar coverage up to $250 for a single and $500 for a family for additional services, such as those related [...]
On March 1, Representatives Mike Kelly (R-PA) and Earl Blumenauer (D-OR) introduced H.R. 5138, the Bipartisan HSA Improvement Act. The legislation includes several provisions NAHU has advocated in recent years to address issues with HSAs and employer-sponsored coverage. The legislation seeks to promote flexibility, encourage innovation and expand access to HSAs by aligning HSA regulations [...]
The Internal Revenue Service released its 2019 Health Savings Account Inflation Adjustment Limits. A comparison of the 2018 and 2019 limits are listed below. The ACA maximum out-of-pocket limits have also been adjusted. The ACA uses a different adjustment calculation than the IRS when setting HSA limits year over year.
The new year is a good time to look at the benefits larger companies are using to attract and retain good people. According to their 2017 Employee Benefits report, the Society for Human Resource Management tells us that HSAs, wholesale generic drug programs for injectable drugs, standing desks and genetic testing for chronic diseases are [...]
Health savings accounts are hot, with nearly two-thirds of respondents to a Plan Sponsor Council of America survey saying they believe that even those without a high deductible health plan should qualify. A benefit often cited by employers and employees alike is that HSAs can be a valuable part of one’s retirement strategy, since healthcare [...]