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2021 HSA Contribution Limits, Out-of-Pocket Max and HDHP Min. Deductibles
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
Continue readingCOVID-19 and Benefits FAQs: FSAs, HSAs, COBRA & More
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
Continue readingBenefit Election Change – Can I Update My FSA or DCAP?
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
Continue readingQualified Healthcare Expenses for FSAs and HSAs
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
Continue readingHRA Plan Types: An Infographic by Captain Contributor and Betty the Benefactress
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
Continue readingTax Deadline Tip: HSA Contributions for the Previous Year
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
Continue readingLove Your FSA/HSA: 6 Reasons to Embrace Your Benefits
“All you need is love …” We’ve all heard that before, but is it really true? Fact is, being in a loving relationship provides all sorts of health benefits. Fewer doctor’s visits, less depression
Continue readingTips for Reducing Medical Costs for Healthcare Consumers
The cost of healthcare is no laughing matter. In 2019, workers paid an average of $6,015 towards their health coverage, and the average annual out-of-pocket cost in the United States was $1,150 per person!
Continue readingLPFSA Tips: A Benefits Account Made to Help You Smile
When you have a Health Savings Account, you can also sign up for a Limited Purpose Flexible Spending Account (LPFSA). Having both accounts is a great way to save even more on taxes and cover those necessary
Continue readingChristmas and Your FSA: Creative Ways to Stuff Stockings
With just a few days before the end of the year, Flexible Spending Account (FSA) owners may need to spend down their balances. Due to use it or lose it (and even if you have the $500 carryover), losing
Continue readingHSA Contributions: Five Things You May Not Know
Every year, Health Savings Account (HSA) owners have to figure out how they’ll fund their accounts. If the HSA is through their employer, they can make pre-tax contributions each pay period. But did
Continue readingFSA FAQs: ‘When Can I Sign Up for an FSA?’ and Other Questions
With the average American household spending $5,000 per person in healthcare expenses each year, it’s no surprise that Flexible Spending Accounts (FSAs) are so popular. In 2016, nearly half of
Continue readingCommuter Benefits Accounts – Tax Relief, Reimbursements, Qualified Expenses, and More!
Commuting to and from work can be quite costly. While most people don’t give a lot of thought to the costs of commuting as they do to health or child care, it can add up. Between daily tickets for
Continue readingFSA vs HRA vs HSA: A Comparison with Chart
Healthcare benefits accounts can be confusing. On first glance, Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), and Health Savings Accounts (HSAs) look very similar. However,
Continue readingGeneration Z: Why an HDHP with HSA makes sense
Generation Z – you’re young, you’re healthy, and you’re starting to make your presence felt in the workplace. But during benefits enrollment, you may feel overwhelmed. Don’t worry, because you
Continue readingHRA Overview
Health Reimbursement Arrangements (HRAs) – An Overview If your company offers a Health Reimbursement Arrangement (HRA), then you need to know what that means for you. An HRA is an employer-sponsored
Continue readingPreparing for Enrollment Season – 5 Tips for Employees
For millions of people across the U.S., enrollment season is right around the corner. Each Fall, companies set aside a period of two to three weeks to allow employees to pick and choose which benefits
Continue readingBuilding Your HSA: Growth and Investing Tips
Attention, Health Savings Account (HSA) owners! Growing your HSA may seem challenging, but it’s possible. Check out these tips for building your HSA from the ground up. What is an HSA? For people
Continue readingBack-to-School Shopping with Your FSA or HSA
August is here, which means the school year has just begun (or is about to begin) for students across the country. If you have a Flexible Spending Account (FSA) or Health Savings Account (HSA), you can
Continue readingICHRA and EBHRA: New Employee Healthcare Benefit Accounts
In June, the IRS announced two new employee healthcare benefit accounts: the Individual Coverage HRA (ICHRA) and the Excepted Benefit HRA (EBHRA). This is pretty big news for businesses and employees!
Continue readingKeep the Summer Fun Going with your FSA!
Summer is in full swing across the country! The sun is out, the weather is warm, and everybody is getting outdoors. Whether you’re looking to have fun at the beach, hang out by the pool, go camping,
Continue readingRecognizing Symptoms and Getting Treatment for PTSD
Post-Traumatic Stress Disorder, also known as PTSD, is a common condition suffered by millions of people. PTSD affects approximately 3.5 percent of all adults in the United States; it is also estimated
Continue readingHSA FAQ: What Happens to My HSA When I Die?
As enrollment in high deductible health plans grows, so does the number of people with a Health Savings Account (HSA). HSAs are great for saving money on taxes and healthcare expenses. Plus, the HSA is
Continue readingMore Online Retailers Accept Healthcare Benefits Cards
Earlier this year, Amazon.com announced it will now accept pre-tax healthcare benefits cards as a form of payment. The giant online retailer joins other companies, like FSAStore.com, HSAStore.com, and
Continue readingYour Mental Health Matters – Fighting Stigmas and Getting Treatment
May is Mental Health Awareness Month, making it a great time to talk about this sensitive subject (October 10 is World Mental Health Day). There is a lot of stigma around mental health, but according
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