Key takeaways – 2025 HSA contribution limits The Internal Revenue Service (IRS) has announced updated Health Savings Account (HSA) contribution limits and High-Deductible Health Plan (HDHP) requirements for 2027. These annual adjustments allow individuals and families to set aside additional tax-advantaged dollars for qualified healthcare expenses. 2026 & 2027 HSA Contribution Limits Coverage Type 2026...
Medical cost trends have risen by 10% since 2022. But the cost trend for Rx is over 17% for the same period. Much of this increase in Rx is due to exploding sales for GLP-1s (such as Ozempic, Wegovy, Zepbound and Rubelsus) for use as weight loss drugs, driving costs to unsustainable levels for both...
Dental expenses can be a significant financial burden, especially when unexpected dental procedures arise. For those who have health savings accounts (HSAs) or medical flexible spending accounts (FSAs), there are opportunities to save money on these expenses. We answer a few common dental-related questions as it relates to your HSA or medical FSA. Can...
Did you recently elect to participate in a medical flexible spending account (FSA)? If you’re a first-time medical FSA participant, you may not be familiar with FSA definitions and rules. We’ve provided a list of the top things a first-time medical FSA participant should be aware of to take full advantage of their FSA. ...
The season for filing taxes is upon us once again. We’re getting closer to the deadline for filing for 2025. We wanted to share a few tips and reminders about the health savings account (HSA) information you’ll need for your tax return. These will help you get organized and prepared for easy and successful filing....
Saving, investing and retirement planning. These are just three of the perks you’ll experience when you participate in a health savings account (HSA). To be eligible for an HSA, there are only a few requirements, with two of the big ones being that you must be covered by a high-deductible health plan (HDHP), and you...
When managing pre-tax health accounts such as HSAs, FSAs and HRAs, it is easy to assume that all medical expenses automatically qualify for reimbursement. However, some services and products require additional documentation before they are considered eligible. That documentation is called a Letter of Medical Necessity. If you or your employees have ever been asked...
Flexible spending accounts (FSAs) provide you with a smart way to save money on healthcare and dependent care expenses (depending on the type of FSA you’re enrolled in). When you participate in an FSA, you’re putting money aside before it is taxed so you can save on eligible expenses. However, you may have a number...
March is Women’s History Month, a time to celebrate the achievements of women across industries—including finance. While women have made incredible strides in wealth-building and financial independence, there are still...
With the 2024 U.S. election potentially leading to significant shifts in employment laws and employee benefits, it’s crucial for employers to stay ahead of changes to maintain compliance. New regulations...
February is Heart Health Awareness Month, a time to focus on cardiovascular wellness and encourage employees to take proactive steps toward a healthier heart. Heart disease remains the leading cause...
For most of you, a new plan year has begun! And just because you have an entire plan year ahead doesn’t mean you should wait until November or December to...
Open enrollment is an important time for HR professionals and employers, since it’s the moment employees make decisions that impact their health, finances and overall wellness for the coming year....
For many, winter is as synonymous for snowflakes as it is for sinus problems. Fortunately, health savings accounts (HSAs) and flexible spending accounts (FSAs) cover many common winter eligible expenses...
Have you recently changed employers? Or are you considering making a change? Fortunately, when you participate in a health savings account (HSA) through your employer, your HSA stays with you....
As we enter another season of open enrollment, one crucial topic is top of mind for many employees: HSA and FSA compliance. Health savings accounts (HSAs) and flexible spending accounts...
When it comes to navigating the world of employee benefits, there’s a lot to take in, especially if you’re a first timer. Among the suite of benefits you’re likely to...
The IRS released 2025 contribution limits for medical flexible spending accounts (medical FSAs), commuter benefits and more as part of Revenue Procedure 2024-40. These limits undergo annual adjustments to account...
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