The IRS has announced the new health savings account limits for 2021. Next year, individuals can set aside $3,600 in tax-free funds to save for the future or pay for medical expenses (up $50 from last year). Learn more about the updates in this post.
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.
In this post, we’ll explain the range of telehealth services available today, plus what to consider when paying for telehealth appointments with a flexible spending account (FSA) or health savings account (HSA).
Now more than ever, it’s important to remember that your emotional and mental health are just as important as your physical health. In this post, we’ll go into more detail about what mental health services and products qualify (or don't qualify!) for coverage with FSA and HSA funds.
Because the HSA offers so many tax advantages—tax-free contributions, tax-free earnings on HSA funds, and tax-free withdrawals for qualified medical expenses—the IRS requires specific reporting for these accounts. We’ve put together this easy guide to clarify how an HSA may be taxed and what forms you may need to file for your HSA.
FAQs in the Moment: How COVID-19 and the CARES Act Impact Health Accounts, Lifestyle Spending Accounts, Child Care, and More
In this post, we answer your top COVID-related questions around lifestyle spending accounts, FSAs, HSAs, commuter benefits, child care, and the recently passed CARES Act.
President Donald Trump on Friday, March 27, signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which includes important provisions for users of HSAs, FSAs, and HRAs.
No matter what time of year you offer your benefits enrollment, it’s very likely that your employees may already be a bit hazy on what they signed up for in the months prior. With these tips, you should be in good shape to keep benefits communications flowing easily and effectively throughout the year!
The IRS released guidance on Wednesday, March 11, 2020 clarifying that testing and treatment of 2019 Novel Coronavirus (COVID-19) is preventive care and may be covered, pre-deductible, by a High Deductible Health Plan (HDHP). Learn more in this post.
Calling all registered investment advisors, brokers, and benefits specialists! We’ve put together an eBook to help you coach clients and employees on health-to-wealth strategies related to health savings accounts (HSAs) and retirement.