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Bo Armstrong 
A Health Savings Account, or HSA, is a tax-advantaged tool for healthcare consumers enrolled in a high deductible health plan (HDHP). An HSA is designed to help account owners save money (via tax-free contributions) to pay for qualified out-of-pocket medical and healthcare expenses (tax-free withdrawals). It can also be used as a supplementary retirement account. … More >>
People generally associate Flexible Spending Accounts (FSAs) with healthcare. However, did you know there is a type of FSA that can be used for childcare and other dependent expenses? With a Dependent Care FSA, also known as Dependent Care Assistance Plan (DCAP), employees can set aside money to cover various dependent care costs while they … More >>
Do you know the difference between a Health Reimbursement Arrangement (HRA) and a Health Savings Account (HSA)? While they sound similar, they are actually quite different. Let’s cover the similarities first. As part of consumer directed healthcare, the purpose of both an HRA and an HSA is to make healthcare more affordable for workers and … More >>
Today’s reality highlights the need for benefits debit cards. In a highly mobile, tech-driven society, card payments are the norm rather than the exception. Nearly everywhere, people can use their credit or debit cards as payment: at their doctor’s office, pharmacy, grocery store, retail shops, taxicabs, subway stations, and more. The speed, convenience and security … More >>
Health benefits are an effective tool for attracting and keeping talented employees, especially those in a company’s upper ranks. Health benefits are also a highly regulated industry. It should come as no surprise then that the IRS wants to make sure that health plans don’t discriminate against any group of employees. To enforce these regulations, the IRS requires health plans to undergo annual nondiscrimination testing. The results can have a big impact on a company’s benefits plan and employees. Learn why nondiscrimination testing is important for employers and how it can affect your business and workforce.
The PCORI fee filing deadline is coming up on July 31. Learn more about PCORI, including future payments.
The Internal Revenue Service (IRS) announced on Tuesday, May 28, new HSA contribution limits, out-of-pocket limits and minimum annual deductibles for next year. Health Savings Account (HSA) owners will see a slight bump across the board for 2020 HSA limits. 2020 HSA Limits Go Up Next year, HSA owners will be able to make more … More >>
If you sign up for healthcare benefits through your employer, you have access to your company’s Summary Plan Description (SPD). In short, the SPD provides important details about your benefits plan and how the plan works. An SPD is required by law and must define when employees become eligible to participate in the plan, how … More >>
Health Savings Account (HSA) owners, here’s some interesting tax news: you can make HSA contributions for the previous year before this year’s tax deadline! HSA contributions for last year The IRS allows for a fair amount of flexibility when it comes to HSA contributions, particularly when it comes to contribution deadlines. For those who were … More >>
Dental care is costly. First, you have the cost of insurance (if you choose to enroll). Depending on your coverage, you may get a checkup, cleanings, and x-rays once or twice a year. But what happens when you, your spouse, or your child needs a filling, root canal, orthodontia, or an emergency extraction? Insurance probably … More >>