Health Savings Accounts

Telehealth Relief for Health Savings Accounts (HSAs) Extended in Funding Package

2023-01-03T16:27:14-05:00January 3rd, 2023|Benefits Administration, Employee Benefits, Employee Benefits Compliance, Employee Benefits Legislation, Health Savings Accounts, Legislative News|

On December 23, 2022, the House passed a 4,155-page funding bill, the Consolidated Appropriations Act of 2023 (“CAA-23”), that includes a two year extension on telehealth relief for high deductible health plans (“HDHPs”) offered with health savings accounts (“HSAs”). [...]

Why You Won’t Regret Taking Advantage of an HSA

2022-08-17T11:49:41-04:00August 16th, 2022|Employee Benefits, Health Savings Accounts|

You'll be glad you took the tax breaks. Outside of housing and maybe transportation costs, healthcare will likely be your largest retirement expense. It's unfortunate, but doctor visits become more frequent, and more health problems tend to pop up as you [...]

Update on The White House Actions Regarding Vaccinations and More on September 9th

2021-09-16T13:46:40-04:00September 15th, 2021|Benefits Administration, COVID-19 Updates, Employee Benefits, Employee Benefits Legislation, Health Savings Accounts, Labor News, Legislative News|

On September 9, 2021, President Joe Biden announced a “Path Out of the Pandemic,” indicating he will use regulatory powers and other actions to increase the number of vaccinated Americans. In short, the plan provides the following: Employers with [...]

2022 Changes and Increases to Health Savings Account and HDHP Limits

2021-06-17T07:09:52-04:00June 17th, 2021|Benefits Administration, Employee Benefits, Employee Benefits Legislation, Health Savings Accounts, Legislative News|

In May, the Internal Revenue Service (IRS) announced the 2022 health savings account (HSA) annual contribution limit and the 2022 high deductible health plan (HDHP) definitional limit per Internal Revenue Code Section 223. Under Revenue Procedure 2021-25 the limits for [...]

Maximize the Benefits of Your Health Savings Account (HSA)

2020-12-10T12:50:17-05:00December 10th, 2020|Employee Benefits, Health Savings Accounts|

Many people who opt into Consumer Driven Health Plans (CDHP) don't make the most of the potential advantages of Health Savings Accounts (HSAs), and leave a lot of money on the table for themselves. Open enrollment for 2021 is [...]

IRS Expands Preventive Care Benefits That Are Not Subject to HDHP Deductibles

2019-07-22T12:15:24-04:00July 22nd, 2019|Employee Benefits, Employee Benefits Legislation, Health Savings Accounts, Legislative News|

A new IRS notice expands the list of preventive care benefits that may be covered by a high deductible health plan (HDHP) without a deductible, or with a deductible below the minimum deductible for an HDHP. Except for preventive care benefits, [...]

Health Savings Accounts (HSA) Contribution Limits for 2019 and Other HSA Rules

2018-12-27T13:15:18-05:00December 10th, 2018|Health Savings Accounts|

HSA Contribution Limits 2019 HSA contribution limits for 2019 will increase, according to the Internal Revenue Service. The maximum contribution will go up $50 to $3,500 for individuals and $100 to $7,000 for families. Maximum catch-up contributions for [...]

Advantages of Consumer Driven Health Plans and Health Savings Accounts

2017-07-06T12:00:00-04:00July 6th, 2017|Health Savings Accounts|

Consumer-Driven Health Plans (CDHP) with health savings accounts (HSAs) provide you with a vehicle to put away money, tax-free, for your health care. And it is always yours. What is a CDHP? CDHPs come in various forms, but most [...]

How Does a Health Savings Account (HSA) Work?

2017-06-15T12:00:00-04:00June 15th, 2017|Health Savings Accounts|

Consumer Driven Health Plans (CDHP) with Health Savings Accounts (HSAs) are health plans with a tax-favored savings account created for the purpose of paying medical expenses. An HSA works in conjunction with high deductible health insurance. Your HSA dollars [...]