With a health care payment card, users can easily access funds from health savings accounts (HSAs), flexible spending accounts (FSAs), or health reimbursement arrangements (HRAs) without having to pay out-of-pocket and seek reimbursement later. It’s similar to a debit card, as it’s a fast and convenient way to pay for medical expenses. Learn how both employees and employers can reap the benefits when these cards are offered.
On March 26 the Internal Revenue Service (IRS) released IRS Announcement 2021-7, which states that personal protective equipment such as masks, hand sanitizer, and sanitizing wipes that are purchased “for the primary purpose of preventing the spread of COVID-19” (COVID-19 PPE) are qualified medical expenses under Section 213(d) of the Code.
A healthy partnership is not just between two organizations with similar goals who mutually benefit—but a relationship between employer and employee. When it comes to maintaining this relationship, one of the keys to a harmonious partnership revolves around the benefits the employer provides the employee. This article explores how HRAs can make for a healthier, happier union between employer and employee.
To cater to every learner, ConnectYourCare works to create content that serves a range of needs. To start the new year, we reviewed some of the most common learning styles and the benefits education resources we’ve created for each. Use these to brush up on your own knowledge or share with clients and members to give them a better understanding of the benefits available to them.
While the holidays may not bring health care products to mind, this is the time of year when spending down FSA balances is important! The items featured in our 12 Days of Savings are just examples of some of the great FSA-eligible itmes you can buy, and we think they are a bit more practical than gifting loved ones, oh, say, twelve lords a leaping or a partridge in a pear tree. We hope these reminders can help you to make the most of your tax-advantaged accounts while supporting your health and wellness needs. Check the list, download the infographic, and spread the joy of the season!
The COVID-19 pandemic prompted many legislative changes that affected consumer-directed benefits and tax filings, keeping HR administrators and brokers on their toes. Whether employer, broker, or account holder, we’ve recapped nine key benefits legislation updates in 2020 that you should know, plus a checklist to keep handy as we near the end of the year—just in case you lost track or need a refresher.
A health reimbursement arrangement (HRA) is a way for employers to reimburse their employees for health expenses. Businesses use HRAs instead of group health insurance or in addition to it, depending on their situation. But with all the acronyms, benefits options, and health care choices available today, what does it all really mean? In this article, learn how HRAs began, how they work, which people they benefit, and what types of HRAs are available. Plus, you can check out the HRA guide we created to help you figure our which HRA is right for you!
We take a close look at some recent popular reading choices that are great for benefits brokers, employers, HR professionals, and participants looking to gain a deeper understanding of the health care system today, and what’s coming in the future.
In this article, we cover the latest developments around Disaster Relief Notice 2020-01, including how it specifically impacts COBRA administration.
In light of the legislative changes taking place in response to COVID-19, ConnectYourCare recently hosted a webinar to give a detailed overview of what employers need to know about benefits administration in this critical time. We summarize everything you need to know in this post.