HSAs provide a tax-advantaged financial tool for reducing out-of-pocket healthcare expenses and retirement savings. However, because the funds contributed to your account are pre-tax, you must account for them on your tax returns. If you’re filing HSA tax information for the first time, you may have questions about the 1099-SA form and where you get it. You may also have questions about Form 8889 and Form 5498. Here is the information you’re looking for. HSA
The following infographic outlines the must-have features of benefits administration software for third party benefits administrators. If your solution doesn’t have all of these, it may be time to upgrade. To streamline your workflow and increase the bottom line, look for these features and capabilities.
In the ever-evolving landscape of business operations, staying ahead requires not just adaptability but also strategic process management. This is where Business Process Management (BPM) comes into play. For many businesses, understanding and implementing BPM can be a game-changer in navigating the complex web of tasks and responsibilities. But what is BPM, and why is it so important? What is Business Process Management? BPM is a systematic approach to identifying, designing, executing, documenting, monitoring, and
LITTLE ROCK, AR (March 26, 2024) – DataPath, Inc. today announced the launch of Accelergent Growth Solutions to help companies in the benefits, financial services, and insurance industries accelerate their growth and profitability. Accelergent offers expert business process management, outsourcing, automation, and marketing services, allowing businesses to focus on core competencies and revenue-generating activities. The new organization expands a 15+ year partnership between DataPath, Inc. and its sister company, Overbrook Technology Services (OTS). John Robbins,
According to the U.S. Small Business Administration, 99.9% of American businesses are considered small in terms of employment, with fewer than 500 workers on the payroll. While all companies struggle at times with hiring, retaining, and engaging talent, the challenge for small businesses can be greater due to having a comparatively leaner benefits program. However, as more creative benefits enter the marketplace, small businesses may find more viable employee benefit options. Small Businesses Employment Challenges Recent
Using a multi-platform approach to CDH and COBRA benefits administration can create a host of problems for third party benefits administrators. The following infographic highlights the negative impacts of a multi-platform approach and examines the benefits of a single solution.
Consumers often undertake significant research and price comparisons when buying an expensive item. Yet, when it comes to healthcare, comparison shopping has historically been nonexistent, partly due to a lack of cost transparency. Some providers treated requests for written estimates as a nuisance. Others could not provide an accurate estimate due to coordination issues with insurance companies and other key players in the industry. Healthcare Transparency Importance Transparency can provide benefits to everyone, including higher
Offering employee health benefits is a great way to attract and retain talent, but companies must follow strict regulations to ensure fairness to all employees. The IRS monitors highly compensated employees’ eligibility and compares that to benefits available to lower compensation employees. All health plans must undergo annual non-discrimination testing. Learn more below. What is Non-Discrimination Testing? IRS rules state that self-insured health plans cannot discriminate in favor of Highly Compensated Employees (HCEs) concerning eligibility or benefits.
It never fails. Following the close of open enrollment, some participants start to think they should have elected more or less coverage. Sill others who ignored enrollment altogether may wish they had chosen something. The good news is that whether you need more or missed open enrollment, all may still have some options! Health Plans Active enrollees in an existing health plan may find that it was automatically renewed. Even if the plan is no
According to the Centers for Disease Control and Prevention, heart disease is the leading cause of death for American women – but despite the launch of numerous awareness initiatives, barely half understand the risks. Let’s look at what heart disease is and what we (especially women) can do about it. Heart Disease Basics “Heart disease” includes a variety of conditions that affect the heart structure and how it functions. Coronary artery disease, the most common, occurs