HSA Limits: Maximizing Healthcare Savings
HSA account holders are now able to contribute more money to their HSA. The HSA contributions limits are adjusted for inflation each year, and HSA annual limits are released every April or May by the IRS. HSA Contribution Limits The HSA contribution limits for 2025 have been adjusted to reflect the cost of living changes. […]
Read MoreHere Is What Happens to Your HSA if You Leave Your Job
If you’ve been laid off or decided to leave your job, you may be wondering what will happen to your health savings account (HSA). Since you’re the owner of your HSA, it’ll follow you wherever you go. This means you’ll still have your HSA, whether employed, unemployed or switching jobs. Request a proposal What Is […]
Read MoreHSA Funds — Should You Keep or Invest?
A health savings account can help you save for your healthcare expenses and offer tax benefits. If you have funds sitting in your HSA, you may wonder whether you should keep the money in your account or invest in another asset for potential savings growth. Below, we’ll cover more about keeping or investing HSA funds, including […]
Read MoreHSA Plan Tax Benefits for Employers
If you are in charge of creating the benefits packages for your employees, you don’t want to overlook a Health Savings Account (HSA). With an HSA, you can take advantage of several tax benefits that will set both you and your team up for success. These accounts essentially function as personal savings accounts. Employees can place tax-free […]
Read MoreNew High-Yield Interest Option for HSA Participants Coming Soon!
Increased Earning Potential with High-Yield HSA We are excited to launch a new high-yield interest option that enables your employees to optimize the value of their Difference Card HSA! Discover Our HSAs With this new option, account holders can take advantage of higher interest rates by choosing to have their HSA cash balance held in […]
Read MoreHealth Savings Account Telehealth Flexibility Signed Into Law
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 MoreIncreased Interest Rates for Difference Card HSAs Will Take Effect January 1, 2023
The Difference Card is committed to providing our partners with market-leading HSA solutions. In this spirit, we are pleased to announce that higher interest rates are coming to all Difference Card HSA account holders. This change benefits account holders with HSAs custodied by Difference Card, for both the Traditional and High-Yield interest options. Discover Our […]
Read MoreHow to Offer and Set up an HSA for Employees
Traditional group health insurance costs have risen steadily over the years, making high deductible health insurance plans with health savings accounts (HSA) a more attractive option for employers and their workers. Many companies are beginning to offer employer-sponsored HSAs to help employees cover healthcare costs. HSAs are a type of personal savings account individuals can […]
Read MoreHealth Savings Account vs. a 401k
Should I max out my HSA contributions? Most people don’t think about an HSA as a savings account. Instead, they think of it as an account used to set aside money, tax-free, to pay for health expenses. But the reality is an HSA is much more than a bank account, it’s a long-term savings vehicle. […]
Read MoreHSA vs. FSA: Comparing Strategies
What is the difference between a Health Savings Account and a Flexible Spending Account? A health savings account (HSA) and a flexible spending account (FSA) are both great savings vehicles to make your dollars stretch further for healthcare costs. With either option, your employer can contribute pretax dollars into your account, and you can use […]
Read More