Benefits Debit Cards are Convenient for Everyone

We live in a convenience-based society, always on the lookout for immediate satisfaction. Linking tax-advantaged benefits accounts such as FSAs and HSAs to benefits debit cards is a popular option that creates more convenience for everyone. When using an account-linked benefits debit card, the participant can make eligible purchases without having to front the expense, … More >>

Remember to Communicate Temporary Changes to Benefit Account Deadlines

To say that the last two years have been challenging would be an understatement. For the benefits industry, it’s been particularly difficult to navigate changes to various rules and regulations. Among their efforts to provide relief to employees during the pandemic, Congress has temporarily changed certain regulatory requirements and deadlines for the 2021-2022 period. It’s … More >>

New Preventive Care Guidelines, Lower Out-of-Pocket Costs

Preventive healthcare may help reduce the risk of disease, disabilities, and death. However, millions of people still don’t seek out preventive care services. The problem has become so rampant that the Department of Health and Human Services (HHS) has launched an initiative called Healthy People 2030. The initiative aims to educate people on preventive care … More >>

‘Transparency in Coverage’ Rule Now in Effect

Healthcare costs have been on the rise for decades, and this year is on track to continue that trajectory. Current predictions are that costs will likely trend up about 6.5 percent in 2021, especially in the areas of mental health and ongoing COVID-19 care. The portion of healthcare costs that a patient is responsible for after … More >>

Benefits Participation Requires Education

Many companies work hard to offer great benefit plans to their employees. But plan documents can be hard to understand and may discourage employees from enrolling at all – and if they do enroll, they may not use their benefits as much as they could, or should. As a result, employers pay for benefits not … More >>

Face Masks and Related PPE Now Qualify for FSA, HRA, HSA Reimbursement

In response to the Delta variant, face masks are once again at the forefront of efforts to prevent further spread of COVID-19. When used for this purpose, they are considered Personal Protective Equipment (PPE), which became a qualified medical expense under Section 213(d) of the Internal Revenue Code in March, 2021. On March 26, the … More >>

COVID-19 PPE Approved for FSA, HRA, HSA Reimbursement

The fight against COVID-19 has expanded to the purchase of personal protective equipment (PPE) items with employer-sponsored benefit accounts. On Friday, March 26, the IRS released Announcement 2021-7, which approves PPE purchased for the primary purpose of preventing the spread of COVID-19 as medical expenses under section 213(d) of the Internal Revenue Code. The regulation allows … More >>

HRA Plan Types: What’s Right for Your Company?

With new legislation over the past few years, Health Reimbursement Arrangements (HRAs) are getting increased attention from employers. New HRA plan types now feature expanded eligible expenses, funding options, and insurance requirements, and can be another affordable option for companies looking to enhance their benefits. Learn more about HRAs below. What is an HRA?   … More >>

HRA vs HSA – What’s the Difference?

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 >>