IRS Announces Health Savings Account Contribution Limits for 2018 05/12/2017 IRS Announces Health Savings Account Contribution Limits for 2018 In Revenue Procedure 2017-37, the IRS has set the Health Savings Account (HSA) contribution limits for 2018 as shown below. The HSA contribution limits, High Deductible Health Plan (HDHP) out-of-pocket maximums and the HDHP minimum required deductibles all increase slightly. Here are the details: HSA Contribution […] Read More >
How are HRAs different from FSAs and HSAs? 05/05/2017 How are HRAs different from FSAs and HSAs? With so many options available for employee benefits, what sets health reimbursement arrangements (HRAs) apart from the rest of the pre-tax reimbursement accounts? 1. HRAs provide employers the ability to specify exactly what expenses the plan will reimburse. HRAs are funded entirely with employer contributions. HRAs can […] Read More >
Designing a Health Reimbursement Arrangement 04/28/2017 Designing a Health Reimbursement Arrangement Health Reimbursement Arrangements, or HRAs, can be a powerful addition to an employer’s benefit package. The benefit helps pay for out of pocket medical expenses for employees and can be customized based on the employer’s preferences. Listed below are several features of HRAs and some options available for each. Eligible […] Read More >
What are the reporting requirements for health savings accounts? 04/21/2017 What are the reporting requirements for health savings accounts? As Health Savings Accounts (HSAs) continue to become more common as a way for people to save money on their medical expenses, it is important to remember one of the important components of HSAs: reporting requirements. Traditional reimbursement accounts such as flexible spending account (FSAs) and […] Read More >
Health Savings Account Contribution Deadline is Quickly Approaching 04/13/2017 Health Savings Account Contribution Deadline is Quickly Approaching With the tax filing deadline just around the corner, many people are working quickly to finalize their taxes for the previous year. This deadline also provides an opportunity for those contributing to a health savings account (HSA) to maximize their contributions to the account for the previous […] Read More >
Health Savings Account Contribution Deadline is Quickly Approaching 04/07/2017 Health Savings Account Contribution Deadline is Quickly Approaching With the tax filing deadline just around the corner, many people are working quickly to finalize their taxes for the previous year. This deadline also provides an opportunity for those contributing to a health savings account (HSA) to maximize their contributions to the account for the previous […] Read More >
Ineligible Expenses – Avoid These Top 5 Mistakes 03/31/2017 Ineligible Expenses – Avoid These Top 5 Mistakes There are many expenses that can be reimbursed from a healthcare flexible spending account (FSA). While these plans will reimburse a wide variety of expenses, there are also some common expenses that are not eligible to be reimbursed from a healthcare FSA. Here are the top 5 […] Read More >
What Expenses Can Be Reimbursed from a Dependent Daycare Flexible Spending Account? 03/24/2017 What Expenses Can Be Reimbursed from a Dependent Daycare Flexible Spending Account? Dependent daycare flexible spending accounts (dependent daycare FSAs) allow employees to be reimbursed on a pre-tax basis for daycare expenses. Identifying which expenses can be reimbursed from a dependent daycare FSA is an important part of the planning and election process for employees […] Read More >
What expenses can be reimbursed from a Health Flexible Spending Account? 03/17/2017 What expenses can be reimbursed from a Health Flexible Spending Account? Health Flexible Spending Accounts (FSAs) are a popular benefit offered by employers to help employees pay for out of pocket medical expenses. A very common question employers and employees may both have is what expenses can be reimbursed from the plan. There are several […] Read More >
Top 3 Things To Know about Qualified Small Employer Health Reimbursement Arrangements 03/10/2017 Top 3 Things To Know about Qualified Small Employer Health Reimbursement Arrangements When Congress passed and the President signed The 21st Century Cures Act at the end of 2016, a new benefit option became available for small employers. The legislation includes language allowing for Qualified Small Employer Health Reimbursement Arrangements, or QSEHRAs. These plans allow […] Read More >