Health Savings Account Telehealth Flexibility Signed Into Law

January 9, 2023

A two-year extension to the CARES ACT provision allows telehealth services to be covered by HSA-qualified HDHPs before meeting the deductible In December, Congress passed an end-of-the-year $1.7 trillion omnibus spending package. President Biden signed the spending package into law, setting into motion many healthcare policy changes. Included in these policies priorities- the extension of […]

Read More

PCORI Fees Announced for 2023 for Self-Insured Health Plans

Patient-Centered Outcomes Research Institute (PCORI) Fees Updated by IRS On November 14, 2022, the IRS released Notice 2022-59 which updated the amount of the Patient-Centered Outcomes Research Trust Fund fee that self-insured health plans must pay for plan years ending on or after October 1, 2022, and before October 1, 2023. The applicable dollar amount […]

2023 Cost of Living Adjustments Announced

The IRS has released its 2023 cost of living adjustments – which can impact certain benefit accounts, retirement plans and other programs.   Request a Proposal Highlights of changes coming in 2023: FSA Contributions: Contributions to a healthcare flexible spending account have increased $200 to $3,050- up from $2,850 in 2022. FSA Carryover Amount: If the […]

HDHP vs. PPO

When choosing a healthcare plan, you may come across a few options. One of these plans is a high deductible health plan (HDHP). The other is a preferred provider organization (PPO). Employers typically offer both of these options. Each has its pros and cons, which can make deciding between them a challenge. Selecting the right […]

ACA Limits Have Increased for 2023: Time to Start Planning

The Department Health and Human Services Announced Increased Health Plan Out-of-Pocket Limits by Over 4% The 2023 Health Insurance renewal season is under way and those employers that are currently at the Affordable Care Act (ACA) limits will find additional room in their plan designs for the upcoming 2023 plan year. Request a Proposal The […]

There is still time to make contributions to your or your employees’ 2021 Health Savings Account

The deadline to contribute to an HSA for the 2021 Income Tax Year is April 18, 2022. The due date is April 18, instead of April 15, because of the Emancipation Day holiday in the District of Columbia – even if you don’t live in the District of Columbia. Learn More About Our HSAs Employees […]

Supply and Demand: Why Are Healthcare Costs Rising?

The U.S. spends $4.1 trillion a year on healthcare — more than any other country in the world — and that number is steadily rising. Internal factors within the healthcare system are driving prices up. Meanwhile, the combination of an aging population, unaddressed health issues and COVID-19 is straining the system like never before. Request […]

How Section 105 Medical Reimbursement Plans Save on Taxes

How Section 105 Medical Reimbursement Plans Save on Taxes Many employers choose Section 105 medical reimbursement plans to save on taxes. Employers and employees alike can benefit from Section 105 plans, but the specific benefits your company can enjoy depend on your organization’s needs. If you are an employer looking to learn more about an […]

At-Home COVID-19 Testing Now Covered by Insurance

Effective January 15, Health Insurers must cover the cost of COVID-19 testing kits. Beginning Saturday, January 15, individuals with group and private health insurance coverage may ask for reimbursement for up to eight at-home COVID-19 test kits per month. According to the Department of Health and Human Services, individuals who purchase over the counter COVID-19 […]

PCORI Fees Announced for 2022 for Self-Insured Health Plans

Patient-Centered Outcomes Research Institute (PCORI) Fees Updated by IRS The IRS released Notice 2022-4 in December 2021, which updated the amount of the Patient-Centered Outcomes Research Trust Fund fee that self-insured health plans must pay for plan years ending on or after October 1, 2021, and before October 1, 2022. The applicable dollar amount for […]