Kickstart the 2017 School Year with Your Employer-Sponsored Benefits

Back to school

The 2017 school year is almost upon us! That means parents (and children) are starting their preparation rituals by shopping for clothes, school supplies, and back packs, and taking care of other assorted essentials. Of course, school-aged children have a lot of needs, one of them being healthcare. With the dawn of a new school … More >>

FSAs, HSAs and BCRA – The New Senate Healthcare Bill

FSAs, HSAs and BCRA

On Thursday, June 22, 2017, Senate Republicans released the draft of their new healthcare proposal, known as the Better Care Reconciliation Act (BCRA). Similar to the previously proposed American Healthcare Act (ACHA), Americans will see big changes to both FSAs and HSAs should the BCRA pass in its current form. The following provides an overview … More >>

The Value of a Consumer Directed Healthcare Account

View the infographic below to discover the value of consumer directed healthcare accounts. The graphic features an overview of HSAs, HRAs, and FSAs, along with other helpful information. What is a Consumer Directed Healthcare Account? A consumer directed healthcare account is a type of medical savings account that: Helps pay for eligible medical expenses Can … More >>

The Advantages of Employer-Sponsored Debit Cards

Employer-sponsored debit cards

Employees, employers and TPAs all find value from a strong employer benefits package. Employer-sponsored debit cards can further bolster benefits offerings. In today’s fast-paced world, where time is of the essence, debit cards provide an efficient payment method for consumers everywhere. They eliminate the time and hassle involved in writing checks or stopping at the … More >>

Millennials and HDHPs: A Perfect Fit for Employers and TPAs?

Millennials and HDHPs

Millennials are younger and healthier in comparison to their Gen X and Baby Boomer peers. Are Millennials and HDHPs with HSAs a good fit for employers and TPAs? A recent study on adults with health insurance shed light on the healthcare spending habits of the up-and-coming Millennial generation. Among the findings are that younger workers … More >>

House of Representatives Passes American Health Care Act

Capitol Hill; AHCA

Yesterday, the House of Representatives passed the American Health Care Act (AHCA) with a vote of 217-213. The bill now goes to the Senate for approval. In its current form, AHCA affects tax-advantaged health care accounts: Health Savings Accounts, Flexible Spending Accounts, and Health Reimbursement Arrangements. It also has tax implications for employers and people … More >>

What is a Limited Purpose FSA and How Account Holders Can Use It

Limited Purpose FSA

By now, most people are familiar with Flexible Spending Accounts (FSAs), which allow you to set aside money from your paycheck pre-tax to pay for a wide variety of medical expenses. You may not be familiar, though, with the limited purpose FSA, or LPFSA. A limited purpose FSA is a healthcare spending account that can only … More >>

FSA Reimbursement: 9 Qualified Expenses You May Not Know About

FSA Expenses

If you participate in a Flexible Spending Account (FSA), there may be some qualified FSA expenses you didn’t know about. Healthcare FSAs allow you to use pre-tax money to pay for a wide variety of medical, dental and health-related products and services, including many over-the-counter items. Most people are familiar with common medical expenses, such as … More >>

AHCA: HSAs, FSAs, Cadillac Tax and More

AHCA Overview

On Monday, March 6, House Republicans published the American Health Care Act (AHCA), a proposal to repeal and replace multiple provisions in the Affordable Care Act (ACA). Among the parts that remain the same are that people with pre-existing conditions cannot be denied coverage and dependents under age 26 can stay on their parents’ healthcare … More >>

Testimonial: How One Company Fueled Growth by Outsourcing Claims Entry

Summary A third-party healthcare benefits administration firm needed to grow its business but was overwhelmed by claims processing for Flexible Savings Accounts and Health Reimbursement Arrangements. Finding an accurate, affordable solution that would allow the staff to focus on front-office tasks and enable the company to grow was challenging. The firm outsourced its claims entry … More >>

Eye Care and Your Employer-Sponsored Benefit Account

Eye Care

Eye care is an important part of your overall wellness. Comprehensive eye care includes exams, vision correction procedures, corrective eye wear and more. Thanks to vision insurance and employer-sponsored benefit accounts, receiving eye care has become more affordable and accessible for many people. According to the Centers for Disease Control (CDC), 67 percent of Americans with private … More >>

Testimonial: A Focus on Quality and Client Care Forges a Strong Partnership

CDH Account

Summary Diversified Administration, Inc., a third party administration firm, seeks to deliver top quality to its clients. They focus on helping employees to maximize take-home pay and businesses to increase tax savings, lower premiums, and generate increased employee loyalty. To accomplish this, Diversified Administration, Inc. partnered with DataPath to administer consumer directed healthcare (CDH) accounts … More >>

FSA vs HRA vs HSA – What are the Differences?

FSA vs HRA vs HSA

‘What are the differences between an FSA vs HRA vs HSA?’ is a common question for many people. Here’s a quick overview of the different accounts, how they’re similar and how they standalone. At the bottom of the post is an infographic with a visual representation of the comparisons. When it comes to consumer driven … More >>

What’s the Right Amount for My Flexible Spending Account?

How much is right for my Flexible Spending Account?

With FSA popularity on the rise, participants want to know ‘what’s the right amount for my flexible spending account?’ Flexible Spending Accounts (FSAs) are fast becoming one of the most popular employer-sponsored benefits in the United States. Currently, about one in five Americans use this tax-reduction tool to save on a wide variety of medical … More >>

9 Ways to Spend Your FSA Funds Before Year End

Calendar

Some plans require participants to spend FSA funds before the end of the plan year or risk losing the funds altogether; others allow carryover to the next plan year. If uncertain of your plan’s requirements, check with your benefits administrator. Flexible Spending Accounts (FSAs) are a popular employer-sponsored benefit. According to a 2015 survey by … More >>

FSA Contribution Limit 2017, IRS Inflation Adjustments Affect FSAs

FSA, HRA, HSA, COBRA, Insurance Payments

Newly released IRS inflation adjustments increase the FSA contribution limit in 2017. The Internal Revenue Service (IRS) released its inflation adjustments for 2017, which affect more than 50 tax provisions, including several consumer directed healthcare (CDH) and employer-sponsored benefit accounts. Those who participate in Flexible Spending Accounts (FSAs) and Transit accounts will see some changes. … More >>

CDH Accounts Can Help Take the Scare Out of Halloween Injuries

Halloween

If you get injured this Halloween, look to your consumer directed healthcare (CDH) account to take the scare out of treating your boo-boo. Halloween is magical! All week long, people get festive by decorating their houses and lawns, carving pumpkins, and dressing up in their favorite costumes. However, when someone gets injured, Halloween can be … More >>

FSA Funds Can Help Account Holders Get Ready for Back to School

Back to School

Believe it or not, August is here! For many Flexible Spending Account (FSA) holders, there are only five months left before the end of their plan year and the FSA “use or lose it” policy has people thinking about how to make the most of their tax-free contributions. The great news is that back-to-school shopping … More >>

FSA, HRA, and HSA Account Holders Receive Congressional Boost

FSA, HRA, and HSA Account Holders Receive Congressional Boost

On July 6, 2016, the House of Representatives passed a significant piece of legislation that affects millions of Americans who receive employer benefits. H.R. 1270, the Restoring Access to Medication and Improving Health Savings Act of 2016, was first introduced in March 2015, and passed the House this July with a vote of 243-164. The … More >>

Limited Purpose FSAs

Limited Purpose FSAs

As part of the employer benefits landscape, many people have heard of the big three in consumer directed healthcare: Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), and Health Savings Accounts (HSAs). But have you heard of Limited Purpose FSAs? Here’s a list of frequently asked questions (FAQs) and their answers to help you get … More >>

HSA vs FSA – Breaking Down the Differences

FSA, HRA, HSA, COBRA, Insurance Payments

The alphabet soup of consumer directed healthcare (CDH) – FSAs, HRAs, HSAs, MERPs, MSAs – can make it a challenge to keep track of which accounts provide what benefits. Some are strictly employee- or employer-funded, while others may be funded by any party. Some accounts offer rollover; others do not. Knowing the differences is important … More >>