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Category Archives for HSA
Tips to Help Employees to Have a Great Enrollment Experience
Each Fall, typically between mid-October and mid-December, companies set aside a period of two to three weeks to allow employees to pick and choose which benefits they want for the upcoming year. This
Continue readingVIDEO: Captain Contributor Explains Eligible Expenses
Captain Contributor Explains Eligible Expenses Good news! Your FSA or HSA account now has even more spending power! The CARES Act of 2020, expanded the use of Health Savings Accounts and
Continue readingIRS Reveals 2022 HSA Contribution Limits
The Internal Revenue Service (IRS) published the approved contribution limits for Health Savings Accounts (HSAs) in 2022. In the notice, the IRS also revealed high deductible health plan minimum deductibles
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.
Continue readingCOVID-19 PPE Eligible For FSA, HRA, HSA
In March 2021, the IRS released Announcement 2021-7, which qualifies PPE bought for the primary purpose of fighting COVID-19 as eligible medical expenses under section 213(d) of the Internal Revenue
Continue readingTax Deadline Tip: HSA Contributions for the Previous Year
If you own a Health Savings Account (HSA), here’s some good news: you can make HSA contributions for the previous year before the tax deadline! Sound too good to be true? Well, according to IRS
Continue readingHSA 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 readingVIDEO: Captain Contributor Explains The Uniform Coverage Rule
Captain Contributor Explains the Uniform Coverage Rule It doesn’t take superpowers to know that the cost of healthcare is expensive. That’s why many employers offer tax-advantaged healthcare
Continue readingWhy 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 readingHSA 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 readingVIDEO: Captain Contributor Explains HSA Funding
Captain Contributor Explains HSA Funding A Health Savings Account (HSA) is a great complement to a high deductible health plan (HDHP). A person enrolled in a qualified HDHP can open
Continue readingChanging 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 readingVIDEO: Captain Contributor Explains Benefits Mobile Apps
Captain Contributor Explains Benefits Mobile Apps Smartphones are probably an everyday part of your life, but did you know you can use them for easy access to your benefits accounts? Whether
Continue readingFAQ: 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 readingEnrollment Season: 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 readingWhat 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 readingPop 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 readingMan-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 reading2021 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 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
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 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. From less depression and substance
Continue readingTips 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 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 $550 carryover), losing
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