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Will My HRA Be HSA Compatible in 2019?

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As you approach 2019 and may be considering implementing a high deductible health plan (HDHP) with a Health Savings Account (HSA), now is a good time to begin reviewing your existing Health Reimbursement Arrangement (HRA) to ensure it remains HSA compatible. If you currently have an HRA and an HSA arrangement or you are looking to implement a HSA compatible HRA you will also need to review the plan design details to ensure HSA compatibility.
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Categories: Benefits in General, Compliance, Health Care in General | Tags: HSA , HRA , HSA Compatible , Minimum HDHP Deductible , 2019 limits
If you are looking at implementing a Health Savings Account during this upcoming 2019 open enrollment season, you should carefully review the details of your existing benefit plan(s), in order to identify any issues and make any required modifications in advance when possible to preserve HSA eligibility.
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Categories: Benefits in General, Compliance, Health Care in General | Tags: HSA , Health FSA , HRA , Health Savings Account , Health Care Flexible Spending Accounts , Health Reimbursement Arrangements , HSA Headaches , Disqualifying Coverage , Qualified HDHP , HDHP , Rollover , Grace Period , HSA eligibility
On July 23, H.R.6199 Restoring Access to Medication and Modernizing Health Savings Accounts Act of 2018 and H.R.6311 Increasing Access to Lower Premium Plans and Expanding Health Savings Accounts Act of 2018 were approved 8-4 in a party line vote by the House Rules Committee. During the proceedings, 2 amendments were offered and both failed. Consequently, the two bills moved on to the House floor. On July 25th under a closed-rule process, the H.R.6199 vote passed with bipartisan support in a 27...
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Categories: Benefits in General, Health Care Reform, Compliance, Health Care in General | Tags: HR 6311 , HR 6199 , HSA , FSA , HRA , House , Restoring Access to Medication and Modernizing Health Savings Accounts Act of 2018 , Increasing Access to Lower Premium Plans and Expanding Health Savings Accounts Act of 2018

Consumer Driven Health Care Activity on the Hill

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The House Ways and Means Committee marked up several bills mid-July that would raise contribution limits for health savings accounts (HSAs) and expand the allowable uses of these accounts, at a cost of $41 billion over ten years, the Joint Committee on Taxation (JCT) estimates. Collectively all the bills would cost an estimated $92 billion over the next ten years.
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Categories: Benefits in General, Health Care Reform, Compliance, Health Care in General | Tags: HSA , Health Savings Accounts , FSA , Flexible Spending Account , OTC , Internal Revenue Code , Medicare and HSA eligibility , Premium Tax Credit , Medical Device Tax , Cadillac Tax , IRS , ACA , HDHP

Health Savings Account (HSA) Eligibility Rules

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HSAs continue to grow in popularity. So why doesn’t everyone open an HSA? To be HSA eligible, you must meet certain requirements. So exactly who is eligible to establish an HSA account and make an HSA contribution or have a contribution made on his/her behalf (e.g., by an employer)?
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Categories: Benefits in General, Compliance | Tags: HSA , Health Savings Account , FSA , Flexible Spending Accout , HSA eligibility , IRS , Disqualifying coverage , Permitted Coverage , Minimum Deductible , Maximum OOP , 2019 HSA limits , 2018 HSA Limits

Workplace Benefit Surveys Released

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The Employee Benefit Research Institute (EBRI)/Greenwald & Associates Health and Voluntary Workplace Benefits Survey recently released “studies a wide array of topics related to employee benefits including employees’ knowledge of their benefits, confidence in making benefit decisions and satisfaction with their benefits package.”
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Categories: Benefits in General, Health Care Reform, Health Care in General | Tags: EBRI , National Health Interview Survey for 2017 , HSA , Consumer directed healthcare , employer sponsored health plan , health plan , voluntary benefits , workplace benefits , satisfaction survey

IRS Announces HSA Limits for 2019

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The IRS released Revenue Procedure 2018-30 that provides the Health Savings Accounts (HSA) limits for 2019.
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Categories: Benefits in General, Compliance | Tags: HSA , Health Savings Account , 2019 Limits , Rev. Proc. 2018-30
In follow up to our earlier post in March regarding the HSA Maximum Family Contribution change, we want to provide some new information based upon an IRS Revenue Procedure released April 26, 2018.
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Categories: Benefits in General, Compliance, Health Care in General | Tags: IRS , Revenue Procedure 2018-27 , HSA , Health Savings Account , Family Contribution Limit
As the April 17th income tax deadline* quickly approaches, employees that participate in a cafeteria plan that includes employer sponsored health insurance, health care flexible spending accounts (HCFSA), dependent care flexible spending accounts (DCFSA) and health savings accounts (HSA) should keep a few things in mind.
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Categories: Benefits in General, Compliance | Tags: IRS , Tax Day , DCFSA , HCFSA , Dependent Care FSA , Health Care FSA , HSA , Health Savings Account , Form 8889 , Form 2441 , Form 1095-B , Form 1095-C , April 15th , April 17 , 2018 , Personal Tax Return
Earlier this month, U.S. Representative Mike Kelly (R-PA) – a member of the House Ways and Means Committee and Rep. Earl Blumenauer (D-OR) co-authored H.R. 5138, the Bipartisan HSA Improvement Act. The proposed legislation would improve Health Savings Accounts (HSAs) for millions of Americans The legislation is co-sponsored by Erik Paulsen (R-MN), Ron Kind (D-WI), Terri Sewell (D-AL), and Brain Fitzpatrick (R-PA).
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Categories: Benefits in General, Compliance, Health Care in General | Tags: HSA , Health Savings Accounts , Bipartisan HSA Improvement Act , Sen. Kelly , HR 5138 , Health Savings Act of 2017 , Sen. Hatch , FSA , HRA , S 403
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