Category Archives for HSA

IRS 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

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Qualified 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.

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COVID-19 PPE Eligible For FSA, HRA, HSA

As the fight against COVID-19 continues, the IRS is helping people with the cost of personal protective equipment (PPE). On Friday, March 26, the IRS released Announcement 2021-7, which qualifies

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Tax Deadline Tip: HSA Contributions for the Previous Year

The IRS announced that the 2021 tax filing deadline has been extended to May 17, 2021. If you own a Health Savings Account (HSA), here’s some good news: you can make HSA contributions for the previous

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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

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VIDEO: 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

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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

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HSA Claim Time Limit: Fact or Fiction?

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

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VIDEO: 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

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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

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VIDEO: 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

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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

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

Enrollment season is here and your company will likely be talking about benefits in the near future. If you participate in your employer’s plan, you’re probably wondering, “How much

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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,

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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.

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“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

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Man-care: Health and Eligible Expenses for Men

June is National Men’s Health Month. 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

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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

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COVID-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

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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

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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. Fewer doctor’s visits, less depression

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Tips 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

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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

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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

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VIDEO: Captain Contributor Explains Benefits Debit Cards

Captain Contributor Explains Benefits Debit Cards No matter where you go – doctors’ offices, grocery stores, retail shops, and more – you can use a debit or credit card to pay for

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