On Wednesday, July 17, the IRS released a notice that names additional medicines and services that can be treated as preventive care under HSA-compatible high deductible health plans (HDHPs) for those with chronic conditions.
President Trump last week issued an Executive Order, titled “Improving Price and Quality Transparency in American Healthcare to Put Patients First” to take actions to improve HSAs, FSAs, and HRAs.
Beginning on January 1, 2020, employers will be able to take advantage of two new health reimbursement account (HRA) designs: The Individual Coverage HRA and the Excepted Benefit HRA. Read on for more details about each plan.
"Health Savings Accounts are an important tool for families to set aside money that’s tax-free to pay for needed health care expenses. This helps reduce the burden of high health care costs and enables families to plan ahead for events like the birth of a child." - Chairman Kevin Brady
Consumer Directed Health (CDH) programs demanded attention across Congress this week as experts testified on the ways that HSAs and other CDH accounts can make healthcare for Americans more accessible and affordable.
The IRS issued transition relief on April 26, 2018 allowing taxpayers to treat the 2018 Health Savings Account (HSA) contribution limit for an individual with family coverage under a High Deductible Health Plan (HDHP) as $6,900.
The IRS has announced that the previously released maximum family contribution limit to a HSA is reduced from $6,900 to $6,850 in 2018. This change applies immediately and any family contribution to an HSA in 2018 over $6850 could be subject to taxes and penalties.
The Cadillac Tax has been delayed until 2022, which is likely good news for those that have funded HSAs, HRAs, and Health Care FSAs.
Recently enacted tax reform legislation will significantly impact employers' transit and commuter benefit programs. Learn what the changes may mean for you.
BCRA meets HSAs. Learn how the Better Care Reconciliation Act would expand the ways people can use their health savings accounts and other tax-advantaged benefits.