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...
Many companies are recession-planning and looking for ways to cut costs. But employees remain top of mind for employers, with 55% of businesses saying they will not reduce salaries if...
According to the Human Resource Executive, about half of employees don’t understand their benefits and 80% of employees never even open pieces of communication about their benefits. Often, employees feel...
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...
May is Mental Health Awareness Month, an opportunity to raise awareness and reduce stigma surrounding mental health issues in the workplace. With the ongoing COVID-19 pandemic and its impact on...
The IRS requires flexible spending account (FSA) participants to submit documentation to prove their purchase was an eligible expense. The IRS emphasized these requirements and potential penalties for employers who...
More employees are enrolling in a high-deductible health plan (HDHP) each year, including more than half of U.S. private-sector workers in 2021 (according to Benefits Pro). Nevertheless, there are still...
Key Takeaways – 2024 HSA Contribution Limits 2024 HSA contribution limits will increase to $4,150 and $8,300 for self-only and family coverage. 2024 HDHP minimum deductible and maximum out-of-pocket limits...
The Internal Revenue Service (IRS) has two sets of ACA codes that help employers have a consistent way to illustrate their medical benefits to employees. Each code is unique and...
According to a 2021 survey conducted by the ASPCA, one in five American households adopted a cat or a dog. With many employees having returned to the workplace after working...
Open enrollment comes around once a year. Communication about benefits often comes shortly before the enrollment period begins. Why not keep the dialog going year-round? Sharing tips and tricks on...
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