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The family contribution limit for a health savings account (HSA) for 2018 was reduced from $6,900 to $6,850 by the Internal Revenue Service (IRS), along with adjustments made to other IRS thresholds to reflect the recent tax legislation.
Male sterilization and male contraceptives are not considered “preventive care” for health savings account (HSA) purposes, the Internal Revenue Service (IRS) confirmed in Notice 2018-12. However, the March 5 notice also provided transition relief for applicable fully insured plans at least through the end of 2019.
Earlier this year, the Internal Revenue Service (IRS) clarified what type of coverage is needed to make an individual eligible for a health savings account (HSA).
On March 6, House Ways and Means Committee Chairman Kevin Brady (R-TX) released long-awaited proposed legislation to repeal and replace the Affordable Care Act (ACA) through a budget process known as reconciliation—a process that allows legislation to be passed with a simple majority in the Senate. The legislation is part of House Republicans’ American Health […]
By Gwen Cofield The 2017 contribution limits for health savings accounts (HSAs), recently announced by the Internal revenue Service (IRS), include a slight adjustment for self-only coverage.
Which is faring better in today’s health insurance market—health reimbursement arrangements or health savings accounts? To find out, United Benefits Advisors (UBA) surveyed more than 10,000 employers representing more than 5 million total lives for its special report, 2015 Health Plan Survey, “HSAs and HRAs: How They’re Doing. UBA broke out the survey data on how employers […]
Millennial employees—18 to 34 years old—selected high deductible healthcare plans more than any other age group. However, while approximately 44% of employees in this group chose HDHPs, a much smaller number of these employees took full advantage of health savings accounts (HSAs), according to Benefitfocus inaugural “State of Employee Benefits 2016” report.
If domestic partners are unmarried opposite sex but declared as a dependent on IRS tax return, is the cost of the health benefit considered taxable income to the employee? Can domestic partners use a joint HSA account?
Can an employee open up a Health Savings Account (HSA) if their spouse has a general purpose Flexible Spending Account (FSA)? If not, can they open up the HSA account once their spouse’s FSA is exhausted and closed? And once they do this, how does the employer who is contributing to the HSA abide by […]
Today, compensation consultant Carla McCormick offers a case study that shows the value of Value-Based Benefits Design (VBBD).