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Health Savings Account (HSA) Statistics from the EBRI HSA Database

November 30th, 2018

The Employee Benefit Research Institute (EBRI) created the EBRI HSA Database to analyze behavior exhibited in health savings accounts (HSAs). The following information is taken from the Issue Brief, which is the fifth annual report representing data from the EBRI HSA Database.  What is an HSA? A health savings account (HSA) is a tax-exempt account […]

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IRS Announces New 2019 Limits for FSA and Transportation Plans

November 16th, 2018

New Health FSA Maximum The IRS released Revenue Procedure 2018-222 with cost-of-living adjustments for tax-related amounts indexed for inflation.  As a result, the maximum amount participants may contribute to the Health Care (and Limited Purpose) Flexible Spending Accounts in 2019 was increased to $2,700 (up from $2,650 in 2018). For plans with a non-calendar year effective […]

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5 Expenses You Can Cover with Your HSA, HRA or FSA

October 26th, 2018

To help relieve some of the stress of health expenses that can accumulate quickly, here are five items you can use your HSA, HRA or FSA accounts to pay for:   Vaccinations As flu season is approaching, don’t hesitate to get your annual flu vaccination to build up an immunity to the virus before the […]

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IRS Releases 2019 Limits for HSAs

May 16th, 2018

The IRS released Revenue Procedure 2018-30 which provides the 2019 inflation-adjusted amounts for high deductible health plans (HDHPs) Health Savings Accounts. The amounts for HSAs for 2019 as compared to 2018 are as follows: ShareTweetEmail

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IRS Announces Adjustment to 2018 HSA Family Contribution Limit- Back to $6900

May 9th, 2018

HSA Family Contribution Limit Increased Back to $6,900 On April 26, 2018 the IRS issued Revenue Procedure 2018–27, increasing the maximum allowable HSA contribution for family coverage back to $6,900.  As you might recall, the IRS previously announced on March 5, 2018, that there would be a decrease in the maximum contribution limit by $50 to $6,850. […]

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IRS Benefit Documentation for Cafeteria Plans. Are you compliant?

January 10th, 2018

Recently, the IRS conducted audits of employers to confirm that the proper documentation for written benefit plans existed in accordance with the Internal Revenue Code. Proper documentation is necessary to receive the tax benefits for providing health and welfare benefits to employees.   Below is a refresher on why compliance with this requirement is important […]

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Healthcare Reform Updates

August 10th, 2017

What is new in benefits? Well, maybe a lot and maybe not! We give you a rundown on the differences between the ACA and the proposed The Better Care Reconciliation Act (BCRA) plan.

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4 Tips to educate your employees about healthcare expenses

April 12th, 2017

Health benefits should be easy, after all, they are benefits. However, too often, they are confusing and poorly communicated to employees. A survey, conducted by Healthcare Trends Institute, provides important information on employee’s feelings related to their health plans, communication preferences, health plan costs, and employee financial and retirement preparedness. Here are 4 tips as […]

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Traditional or High-Deductible Health Plan with HSA

March 21st, 2017

Which plan is right for you? Given that health insurance costs keep climbing, it’s important to understand your options when considering which plan is right for you.  Make sure to carefully review  the details of your specific plan(s). The premiums, deductibles, out-pocket-maximums, and your employer’s HSA contribution are all factors to consider in choosing the […]

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Stand-Alone HRA’s Allowed for Qualified Small Employers

March 16th, 2017

The 21st Century Cures Act, was passed on December 13, 2016, which allows small employers to sponsor a stand-alone Health Reimbursement Account (HRA). A stand-alone HRA is a plan not paired with a group health insurance plan. This type of HRA known as a Qualified Small Employer Health Reimbursement Arrangements (QSEHRA), allows small employers to […]

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