Remove Banking Remove Deductible Remove Flexible Spending Account Remove Out of Pocket Cost
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Should I Enroll in a High Deductible Health Plan with an HSA?

Stratus.HR

High Deductible Health Plans (HDHP) and Health Savings Accounts (HSA) are growing more and more popular each year. Considering they have lower premiums and provide the ability to use pre-tax dollars to pay for out-of-pocket costs, what’s not to love? HSA Bank Fees. HSA as a Retirement Account.

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The benefits of an HSA account

Higginbotham

Unlike Flexible Spending Accounts (FSAs), which are owned by employers, individuals own HSAs. To contribute to an HSA, you must enroll in a high-deductible health plan. In 2022, Healthcare.gov says a high-deductible plan has a deductible of at least $1,400 for individual coverage and $2,800 for family coverage.

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CARES Act - Impact on HSAs, HCFSAs, and HRAs

AssuredPartners

Consumers may also receive reimbursement for OTC purchases through those accounts. In addition, menstrual products are now considered a qualified medical expense, meaning consumers can pay for or be reimbursed for these products through an HSA, HCFSA or HRA. This provision is effective immediately and will expire December 31, 2021.