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| Feb 2005 Volume IV, Issue 2 | Editor: Melissa Vinson, CFCI |
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Upcoming SeminarsHSAtoday™ Training
DPI COBRA Training DPI 125 Training Click here for more info or call 1-800-633-3841. No Cut-Off for Archer MSAsThe cut-off date for the Archer MSA pilot project has been extended to run through December 31, 2005. Click here to read the IRS Announcement. 2005-12 (Jan. 26, 2005). IRS Revises 2005 Publication 15-BIRS has revised Pub. 15-B (Employer's Tax Guide to Fringe Benefits (for Benefits Provided in 2005) to reflect that HSAs can be offered under a cafeteria plan. Click here to get a copy of the revised publication. DataPath EventsDPI-125 Basic Software Training mySourceCard™ / CMS Software Training DataPath 105-HRA / Defined Contribution Concept Seminars DataPath-COBRA Education / Training Seminars General Information about DataPath Seminars DataPath Websitesdpath.com DataPath Web
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DataPath, Inc. Announces Partnership with Drugstore.com, Inc.We are pleased to announce DataPath’s partnership with Drugstore.com, Inc., the leading online retailer of health, beauty, vision, and pharmacy products. Credit / Debit Card Use. Employees can use either myResourceCard® (DataPath's credit card) or mySourceCard™ (DataPath's debit card) to purchase prescriptions and over-the-counter products from Drugstore.com's FSA Store. Eliminates Need to File Claims. The FSA store automatically checks the eligibility of the product before checkout to ensure that only approved items are purchased with the card. Not Just for FSAs. The credit or debit card can also be used for employees' Health Reimbursemennt Accounts (HRAs) and Health Savings Accounts (HSAs).
Study Shows that Medical Bills Make Up Half of BankrupticiesAbout half of all personal bankruptcies result from medical bills,, according to a study conducted by Harvard's Law and Medical Schools (published January 31, 2005 in the journal Health Affairs). Most of these bankruptcies were declared by middle-class workers with health insurance. Many families with insurance are bankrupted by medical expenses that are well below what the researchers considered to be catastrophic. "Most of the medically bankrupt were average Americans who happened to get sick," said Himmelstein, one of the study's authors. "Health insurance offered little protection as families faced unaffordable co-payments, deductibles and bills for uncovered items like physical therapy, psychiatric care and prescription drugs. Even the best job-based health insurance often vanished when prolonged illness caused job loss."
HSAToday™ Simplifies HSA AdministrationHSA administration can seem difficult when an administrator is faced with administering multiple plans (such as FSAs and HRAs), tracking monetary transactions (such as health claims, deposits, and withdrawals), and communicating with the employees. HSAToday™ offers:
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the administration easy.
Show Prospective HSA Participants What to Expect on the WebSince it is easier to show someone rather than tell them, we have developed a demo on myrsc.com to illustrate to prospective participants what they can expect from their Online Resource Center To reach this demo, go to demo.myrsc.com. (Do not enter "www".) Type in "hasademo" as Login ID and as Password. You will reach the activity for a fictitional employee named Jane Doe who works at Demo Academy, Inc.
Arguments Against a Government-Run "Single-Pay" SystemOne answer often cited for our health-care system is to create a government-run "single-pay" system similar to others existing in such places as Western Europe, Canada, and New Zealand. Advocates of this system maintain that these health-care systems are superior to ours. Often it is hard to respond to their comments even if one does not believe that such a system would work here in the United States. John C. Goodman (President, National Center for Policy Analysis, Dallas, TX) has written an Executive Summary, Health Care in a Free Society: Rebutting the Myths of National Health Insurance. In this publication, he lists twelve "myths" and the reasons (backed by statistics) why he classifies them as such.
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| LEGAL DISCLAIMER:
Material contained in this newsletter is not legal advice, and should
not
be construed as legal advice. If you need legal advice upon which
you can rely, you must seek a legal opinion from your attorney. |