Category Archives for HSA

Stay Healthy in the Winter

Now more than ever, it’s important for everyone to work on staying healthy through the winter. From sleep to exercise to how to dress, we’ve got some tips for you. Get outside and suit

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2022 FSA Contribution Limits, Max Carryover, Transit Benefits

In Revenue Procedure 2021-45, the IRS published details on how Flexible Spending Accounts (FSAs) and qualified transportation benefits can be used in 2022. The adjustments accounts for inflation, and

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VIDEO: 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

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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. With

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COVID-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

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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 or

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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.

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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 lower

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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

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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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Men’s Health and Eligible Expenses

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

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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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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. From less depression and substance

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Tips for Reducing Medical Costs for Healthcare Consumers

The cost of healthcare may be a sizable portion of person’s or families’ annual expenses. Therefore, it is important for people to know how they can become better healthcare consumers

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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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VIDEO: Captain Contributor Explains HDHPs and HSAs

What are HDHPs and HSAs? What is an HDHP? Moving to a high deductible health plan (HDHP) can be a little scary, especially when looking at the amount of the deductible. One great thing about

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