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On Tuesday, May 20, the IRS published the 2021 rates for Health Savings Accounts (HSAs) and high deductible health plans (HDHPs). Next year, starting on January 1, HSA owners will see an increase in annual contribution limits and out-of-pocket maximums. Learn more about the 2021 HSA contribution limits below. 2021 >>
The current healthcare and employment crisis caused by COVID-19 has a lot of people wondering about their benefits. From using their healthcare benefit accounts, to childcare, to COBRA, it can all seem confusing. Take a look at the COVID-19 benefits FAQs below. COVID-19 Benefits FAQs: 5 Questions I was laid >>
By participating in your employer’s benefit plan, you probably have a lot of questions. How can I spend my benefit money? How much do I need to contribute to my account? Can I make a benefit election change in the middle of the year? Making a benefit election change is >>
When you participate in a healthcare benefits account, such as a Flexible Spending Account (FSA) or Health Savings Account (HSA), you set aside money to help cover out-of-pocket healthcare expenses. With either account, you can use the money for yourself or a qualified dependent, like a spouse or child. The >>
Health Reimbursement Arrangements (HRAs) are a key part of consumer directed healthcare and employer-sponsored benefits. In recent years, HRAs have had renewed interest from both employers and workers with the expansion of HRA plan types. While a standard (group) HRA has been around since the early 2000s, the IRS added >>
The IRS announced that the 2020 tax filing deadline has been extended to July 15, 2020. If you have a Health Savings Account (HSA), here’s some interesting news: you can make HSA contributions for the previous year before the tax deadline! Sound too good to be true? Well, according to >>
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