Health savings accounts — benefits worth fighting for
Employee Benefit News
JANUARY 18, 2023
Retirement HSAs
Health Savings Account Related Topics 
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IRS Sets Health Savings Account Maximums for 2023
InterWest Insurance Services
MAY 12, 2022
The IRS has announced significantly higher health savings account contribution limits for 2023, with the amount increasing more than 5% for individual HSA plans. As the amount grows over time, they can continue to save it or spend it on eligible expenses.
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Health Savings Accounts (HSAs) - 10 FAQs
PeopleKeep
JUNE 23, 2020
The popularity of Health Savings Accounts has surged dramatically in recent years. According to a report by Devenir Research , there are now over 26 million health savings accounts, holding $61.7 Health Savings Account Health Savings Accounts HSA FAQs
How to Maximize Your Health Savings Account
Benefit Resource Inc.
DECEMBER 21, 2022
Health savings accounts (HSAs) allow employees to save and build wealth for future medical costs. That means that any money contributed to the HSA isn’t subject to income or payroll taxes—which can mean huge savings in taxes each year! Health Savings
IRS Announces 2023 Limits for Health Savings Accounts, High-Deductible Health Plans and Excepted Benefit HRAs
McDermott Will & Emery Employee Benefits
APRIL 29, 2022
Recently, the Internal Revenue Service (IRS) announced (See Revenue Procedure 2022-24) cost-of-living adjustments to the applicable dollar limits for health savings accounts (HSAs), high-deductible health plans (HDHPs) and excepted benefit health reimbursement arrangements (HRAs) for 2023.
What You Need to Know About Health Savings Accounts
Benefit Resource Inc.
FEBRUARY 23, 2023
Health Savings Accounts (HSAs) are tax-advantaged accounts that allow you to pay for medical expenses now and in the future. Whether you already have an HSA or are looking at this account for the first time, BRI is here to share why we love this account so much.
2019 Guide to Health Savings Accounts | benefitexpress
WEX Inc.
MAY 22, 2019
When it comes to managing employee benefits, employers are frequently turning to high-deductible health plans to help control costs. Not only does this approach allow employees to have greater control over their own healthcare, but when paired with a solution like a Health Savings Account, it also helps employees build funds to cover expenses until their deductible is met.
Two ways an employer can contribute to an employee's HSA (Health Savings Account)
PeopleKeep
NOVEMBER 13, 2020
Health Savings Accounts Human ResourcesA common question employers ask us is: "Can an employer contribute to an employee's HSA?" There are two ways an employer can contribute to an HSA, but it’s important to understand the regulations to do so correctly.
Health Savings Accounts Offer Many Tax Advantages
Winston Benefits
APRIL 7, 2016
Are there ways to protect our finances and our health? health savings account HDHP HSA taxes financial wellnessIt’s nearly April 15 and many of us are thinking about our taxes. Is there something more we could be doing to ensure our financial wellness?
How much should I contribute to my HSA?
WEX Inc.
MARCH 16, 2023
How much should I contribute to my health savings account (HSA) each month? If you’re covered by an HSA-eligible health plan (or high-deductible health plan ), the IRS allows you to put as much as $3,650 per year (in 2022) into your health savings account (HSA).
Your HSA and your tax return: 4 tips for filing
WEX Inc.
MARCH 7, 2023
We wanted to share a few tips and reminders about the health savings account (HSA) information you’ll need for your tax return. It also shows pre-tax contributions made to your account by you and your employer through payroll deductions.
Start your new benefits plan year off right with these 8 tips
WEX Inc.
FEBRUARY 23, 2023
In fact, staying on top of your health savings account (HSA) , flexible spending account (FSA) , or any other plan you signed up for throughout the year can pay off for you. From your online account, click on Message Center and then click Update Notification Preferences.
2021 HSA contribution limits
PeopleKeep
JULY 28, 2020
The IRS announced the 2021 HSA contribution limits in May in Revenue Procedure 2020-32 , as well as minimum deductible and maximum out-of-pocket expenses for the HDHPs (high-deductible health plans) that HSAs must be paired with.
FSA-HSA Contribution Limits For 2022
Stratus.HR
DECEMBER 13, 2021
If you’d like to tax-shelter a portion of your income for 2022, please see the increased contribution amounts below for both Flexible Spending Account (FSA) and Health Savings Account (HSA) participants. What is Health FSA? What is a Health Savings Account (HSA)?
How a GCHRA and an HSA compare
PeopleKeep
OCTOBER 15, 2020
The primary options for companies looking to supplement their group health insurance plan are Section 105 plans , commonly known as group coverage HRAs (GCHRAs), and Section 125 plans , also known as cafeteria plans, which include health savings accounts (HSAs).
IRS Announces 2023 Employee Benefit Plan Limits
McDermott Will & Emery Employee Benefits
OCTOBER 21, 2022
The Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social Security wage base for 2023.
How employers can contribute to HSAs
PeopleKeep
MARCH 14, 2022
Many organizations provide a health savings account (HSA) to their employees to offset rising healthcare costs. While HSAs are employee-owned accounts, many employers wonder if they can contribute to their employees’ HSAs, and—if so—how much.
Why HSAs don’t work by themselves
PeopleKeep
JULY 28, 2021
With the cost of traditional group health insurance growing more and more unsustainable , many small and medium-sized businesses (SMBs) are looking to other health benefits solutions for a more affordable and flexible alternative.
IRS Announces Cost-of-Living Adjustments for Health and Welfare Plans
McDermott Will & Emery Employee Benefits
OCTOBER 19, 2022
On October 18, 2022, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the applicable dollar limits for certain account-based health and welfare plans (see Rev.
HRA vs. HSA (reimbursement arrangements vs. savings accounts)
PeopleKeep
DECEMBER 1, 2020
Which is better: A health reimbursement arrangement ( HRA ) or a health savings account ( HSA )? Health Savings Accounts Health Reimbursement Arrangement
2022 HSA contribution limits
PeopleKeep
MAY 19, 2021
A health savings account (HSA) is a tax-advantaged savings account a family or individual can use to pay for qualified medical expenses. HSAs are paired with a high-deductible health plan (HDHP) and have annual contribution limits.
Understanding the codes on your medical receipts
PeopleKeep
AUGUST 4, 2021
Those are actually health codes that tell you which items on your receipt are qualifying medical expenses. Flexible Spending Accounts Health Savings Accounts Health Reimbursement Arrangement
HRA vs HSA: Which should I offer?
PeopleKeep
MARCH 28, 2022
When evaluating employee health insurance options, it’s easy to confuse different health plans with one another. Two commonly mixed-up health benefits are the health reimbursement arrangement (HRA) and the health savings account (HSA).
How HSA contribution limits work for spouses
PeopleKeep
OCTOBER 4, 2021
As more employers move away from group health insurance plans, more married couples have begun maintaining separate individual health insurance coverage. This is true even if you’re both covered by the same high-deductible health plan (HDHP).
FAQ: Can I have an HRA and an HSA at the same time?
PeopleKeep
OCTOBER 19, 2020
Every day, we talk to employers who ask questions about Health Savings Accounts (HSAs) and how they function with Health Reimbursement Arrangements (HRAs) and insurance policies. Health Savings Account HRA
Perks of offering a QSEHRA and an HSA together
PeopleKeep
MAY 24, 2021
Opportunities to offer more flexible and personalized health benefits have grown a lot in recent years. With new tax-free vehicles emerging, including account-based health plans (ABHPs), small employers now have multiple ways to increase employees’ benefits.
Do you have multiple HSAs open? You have options
WEX Inc.
JANUARY 30, 2023
And a new health savings account (HSA). As you change jobs, you may have two, three, four, or more of these accounts open. Roll them over You can also reduce the number of HSAs you have by withdrawing the funds from the old account(s) and depositing them into the new one.
Should I Enroll in a High Deductible Health Plan with an HSA?
Stratus.HR
JUNE 11, 2021
High Deductible Health Plans (HDHP) and Health Savings Accounts (HSA) are growing more and more popular each year. In short, just about anything you can pay for with a flexible spending account (FSA) could also be purchased with HSA money.
How Section 125 cafeteria plans work
PeopleKeep
DECEMBER 22, 2020
Section 125 Flexible Spending Accounts Health Savings AccountsMany working Americans have access to a Section 125 Cafeteria Plan at some point during their working career, yet many do not take full advantage of them.
What happens to employee benefits plans when you elect COBRA?
WEX Inc.
JANUARY 4, 2023
COBRA can provide important health insurance security when you’ve experienced job loss or another qualifying event. And election of COBRA can affect your ability to use the reimbursement accounts in which you were participating prior to your COBRA eligibility.
FSA-HSA Contribution Limits for 2021
Stratus.HR
NOVEMBER 30, 2020
If you’re planning your tax-sheltered income for 2021, the IRS did not increase the $2,750 limit you can contribute to a health Flexible Spending Account (FSA). However, health savings account (HSA) participants will be able to contribute a little more in 2021.
Happy 2023! Get educated with our top 2022 blog posts
WEX Inc.
JANUARY 3, 2023
Fortunately, your health savings account (HSA) is an employee-owned account, so it stays with you, even when you switch employers. Why adding an FSA makes an HSA even better Did you know that you can participate in both an HSA and a flexible spending account (FSA)?
IRS Announces HSA Limits for 2023
American Payroll Association
MAY 5, 2022
The IRS announced the 2023 maximum contribution levels for health savings accounts (HSAs) and out-of-pocket spending limits
Should I offer an HRA, an HSA, or both?
PeopleKeep
JUNE 9, 2021
When looking at your health benefits options, it’s easy to confuse different plans with one another. Two of the most commonly mixed-up plans are health reimbursement arrangements (HRAs) and health savings accounts (HSAs).
2022 HSA contribution limits
PeopleKeep
NOVEMBER 8, 2021
A health savings account (HSA) is a tax-advantaged savings account a family or individual can use to pay for qualified medical expenses. HSAs are paired with a high-deductible health plan (HDHP) and have annual contribution limits.
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