Category Archives for Blog

Just Eat It – Nutrition Needs as an Eligible Expense

Did you know you can use your Flexible Spending Account (FSA) or Health Savings Account (HSA) for nutrition eligible expenses? One thing to remember is that eligible medical expenses are strictly defined

Continue reading

HSA Funding – Do You Know About This Trick?

Health Savings Accounts (HSAs) are very popular among people with high deductible health plans (HDHPs). With this tax-advantaged benefit, a person can use their HSA to cover a large variety of out-of-pocket

Continue reading

Why You Should Keep Your Healthcare Receipts

When you see your physician, visit the pharmacy, or make another healthcare-related purchase, you may wonder “Why should I keep my healthcare receipts?” Whether the expense was for yourself or

Continue reading

Health and Dependent Care FSAs: Carryover and Other Temporary Rules for 2021

If you had a health or dependent care FSA in 2020, there is some good news. Just prior to the new year, the Consolidated Appropriations Act, 2021 (often referred to as the second COVID stimulus bill)

Continue reading

HSA Claim Time Limit: Fact or Fiction?

Having a Health Savings Account (HSA) comes with many perks. There are tax-free contributions, withdrawals, and growth. There are flexible spending options for many qualified healthcare expenses.

Continue reading

Use-It-or-Lose-It FSA Dollars: Time is Running Out

We have just 4 short weeks to go before the end of 2021 – which could be a blessing. Before you ring in the new year, you may need to go on a healthcare shopping spree. There are a lot of people

Continue reading

Changing Health Insurance Coverage and Your HSA

Health Savings Account (HSA) owners can truly appreciate the abundance of perks of having this healthcare account. First, there is the triple tax savings of tax-free contributions, tax-free withdrawals

Continue reading

How Does an HRA Work?

Many employers offer Health Reimbursement Arrangements (HRAs) as part of their benefits package. While most people understand how a Flexible Spending Account (FSA) or Health Savings Account (HSA)

Continue reading

FAQ: Can I have an FSA and HSA at the same time?

During enrollment season, a lot of employees wonder, “Can I have an FSA and HSA at the same time?” After all, both accounts are popular and people want to maximize their tax savings and

Continue reading

Enrollment: How Much Should I Put In My FSA? (Or HSA?)

During enrollment season, your company will likely be talking about benefits. If you participate in your employer’s plan, you’re probably wondering, “How much should I put in my

Continue reading

What You Should Ask BEFORE You Open an HSA

Opening a Health Savings Account (HSA) can be easy and it can change your outlook on your personal healthcare. With the triple tax savings of tax-free contribution, withdrawals for eligible expenses,

Continue reading

Should I Sign Up for a Flexible Spending Account?

Between September and December many companies start allowing their employees to sign up for benefits for the next year – which often includes health, dental, life and vision insurance. Some

Continue reading

Pop Quiz! How Well Do You Know Your FSA/HSA Eligible Expenses?

It’s time for a pop quiz! Test your knowledge of eligible expenses for Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs) with the following questions. The answers are below.

Continue reading

“When Can I Open an HSA?” and Other HSA FAQs

Health Savings Accounts (HSAs) tend to generate a lot of questions from participants and people interested in opening an account. One of the most frequently asked questions (FAQs) about HSAs is, “When

Continue reading

Virtual Day Camp: Is this a DCAP Eligible Expense?

Back during enrollment season, many parents signed up to participate in a Dependent Care Assistance Plan (DCAP) through their employer. The intention behind a DCAP is that it allows people to put

Continue reading

Man-care: Health and Eligible Expenses for Men

Gentlemen, if you have a healthcare benefits account, like a Flexible Spending Account (FSA) or Health Savings Account (HSA), you have a great tool at your fingertips to help you manage your personal

Continue reading

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

Continue reading

Benefit 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 reading

HRA 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 reading

Love 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. From less depression and substance

Continue reading

Tips for Reducing Medical Costs for Healthcare Consumers

The cost of healthcare may be a sizable portion of person’s or families’ annual expenses. In 2020, workers paid an average of $5,588 toward the cost of their coverage. Therefore, it is

Continue reading

LPFSA 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

Continue reading

Christmas 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 $550 carryover), losing

Continue reading

HSA 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

Continue reading

FSA 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. According to the Bureau

Continue reading