2024 HSA Contribution Limits, HDHP Minimums, Maximums Set
The IRS has raised the maximum amount employees can funnel into their health savings accounts by 7.8% for 2024, the largest increase ever, brought to you by inflation. The IRS updates this amount annually, along with minimum deductibles as well as
16 Surprising FSA and HSA Eligible Expenses Your Employees Should Know About
Employers offer flexible savings accounts and health savings accounts to their employees so they can build up funds with pre-tax dollars to pay for health care and related expenses. For the most part, people use their funds in FSAs and HSAs
Insurance Considerations as Americans Work Past Retirement Age
Americans are eligible to sign up for Medicare when they turn 65, but more of us are staying in the workforce longer than ever before. In fact, the average retirement age has increased three years in the last three decades. There
How to Coax Your Employees to Enroll in an HDHP
Employers looking for ways to decrease their group health insurance outlays over the past decade have been turning to high-deductible health plans as they offer lower up-front premiums. In 2021, 51% of the U.S. workforce was enrolled in one of these
2022 HSA Contribution Limits, HDHP Minimums, Maximums Set
The IRS has set the maximum amounts employees can funnel into their health savings accounts and health reimbursement accounts (HRAs) for the 2022 policy year. The IRS updates these amounts every year to adjust for inflation in addition to minimum deductibles
Put Money into an HSA instead of a 401(k) After Employer Matching: Report
One of the main recommendations for employees with 401(k) plans is that they should contribute at least enough to their plan every paycheck to ensure they receive the maximum they can in their employer's matching contributions. But a new study by
IRS Lets Employers Give Workers a Break on FSA Contributions, Health Plan Rules
New guidance from the Internal Revenue Service allows employers to temporarily give their employees extra benefits leeway in making changes to their flexible spending accounts (FSAs) and health savings accounts (HSAs). The guidance, in response to the COVID-19 pandemic, also allows