DataPath, Inc., announced today a new partnership with Health-E Commerce®, the parent brand of FSA Store® and HSA Store®, to offer benefit participants easy access to online shopping, account balance information, and direct payment options for their tax-free healthcare accounts.
In 2024, perceived coverage gaps, flexibility, and affordability receive more attention as companies weigh prioritizing value versus shifting costs. November 27, 2023 By Bo Armstrong Originally posted on BenefitsPRO.com For 2024, brokers and TPAs will be well served to focus strongly on options that add significant value. In its recently released Survey on Health and Benefits Strategies for 2024, Mercer cited three key themes emerging from conversations with leadership from more than 700 organizations of varying
As the lingering effects of the pandemic continue to impact savings, the quest for financial security becomes even more critical. Despite easing inflation, many Americans find themselves unprepared for emergencies and retirement. Amid this savings struggle, the substantial growth of HSAs holds the promise of fostering growth for TPAs while helping participants better prepare for healthcare expenses and their retirement years.
DataPath Financial Services, Inc. (DFS) announced today its approval by the Internal Revenue Service (IRS) as a Non-Bank Custodian for Health Savings Accounts (HSAs) effective November 1, 2023.
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: CDH Account Types 1. Health Savings Account (HSA) The participant owns the HSA, which acts like a regular bank account. Money deposited into the account pays for eligible healthcare
Facts, Figures & Tips for a Successful Enrollment Process.
The following infographic provides an overview of facts, figures and tips for employers to have a successful open enrollment process.
It’s open enrollment time. That means third-party administrators (TPAs) are working with clients to set up plans for the new year. We’ve compiled some tips and reminders for benefits administrators to help them through this stressful season. Tip #1: Know Your Audience Each employer group will be different, so tailor your presentation accordingly. Occupation, geographic location, and generational cohort may affect employees’ wants and needs. For example, Millennials, Gen Xers, and Baby Boomers may each
Benefits programs help companies to attract and retain talented employees. They can also improve workforce health and engagement. But with four generations (perhaps even five) in today’s labor force, putting together a well-crafted plan that meets the needs of all employees can seem nearly impossible. Baby Boomers nearing retirement have very different benefit needs than Gen Z, who are just starting their careers. Millennials reaching their prime earning years will have different needs as well. With the rising cost
Employment loyalty has shifted dramatically in recent decades. Employers that evolve in response may be surprised at how well their companies perform – and the TPAs and brokers who help them can find new growth opportunities in the process.
Americans would have more opportunities to save for and afford health care costs under legislation approved today by the House Ways and Means Committee. The Bipartisan HSA Improvement Act of 2023 and the HSA Modernization Act of 2023 would make health savings accounts (HSAs) more accessible and useful for patients and families. The legislation is now cleared for consideration by the full House of Representatives. Bipartisan HSA Improvement Act (H.R. 5688) HSA Modernization Act (H.R.