HSA

Posted March 12th, 2019 in Employers, Producers, Individuals

Health Savings Accounts (HSAs) have seen tremendous growth in the past decade and are quickly becoming one of the most popular employee benefits. These accounts allow individuals who are enrolled in a Qualified High Deductible Health Plan to use tax-free dollars to pay for out-of-pocket healthcare expenses for themselves and their families.

Posted February 19th, 2019 in Employers, Producers

Over the years, HSAs have been touted as a way to pay for out-of-pocket medical expenses with tax-free dollars. However, recently HSAs have been making headlines as an alternative to 401(k) plans and other retirement plans.

Posted August 2nd, 2018 in Employers, Producers, Individuals

Last week, the House of Representatives (House) passed two bills which would expand Health Savings Accounts (HSAs) and make other changes to the healthcare industry. Below is a summary of key HSA provisions included:

HR 6311

Posted March 15th, 2018 in Producers, Employers

As a benefits professional, you know that navigating the benefits industry can sometimes be a tricky endeavor. Let’s face it; employee benefits can be confusing—even for those of us who deal with this stuff for a living. Whether you’re a Human Resource Manager, an insurance agent or benefits consultant, people are counting on you to have all the answers. Flex is here to make sure you get them.

Posted October 3rd, 2016 in Producers, Employers
Group health plans typically make coverage available to current or former employees and their spouses and children. However, some employers extend coverage to certain groups of non-employees. The most common example would be letting a business owner participate in the plan. Most types of business owners aren’t classified as employees for tax purposes, but rather they are said to be self-employed. 
 
Posted May 30th, 2014 in Producers, Employers, Individuals

Can an individual be covered by more than one “Flex Plan” at the same time?

Yes, Health Care Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs) and Health Savings Accounts (HSAs) can be combined in certain circumstances.

Posted May 2nd, 2014 in Producers, Employers, Individuals

How do the annual maximum Health Savings Account (HSA) contribution limits apply to an eligible individual with family High-Deductible Health Plan (HDHP) coverage for the entire year if the family HDHP covers spouses or dependent children who also have coverage by a non-HDHP (e.g. Medicare, Medicaid, HMO)?

Posted April 25th, 2014 in Producers, Employers, Individuals

On April 23, 2014, the following limits were released by the Internal Revenue Service (IRS) under Revenue Procedure 2014-30 for Health Savings Accounts (HSAs) in 2015.

These limits are updated annually and reflect cost-of-living adjustments.

HSA contribution limits

$3,350 for individual coverage (increased $50 from 2014)

$6,650 for family coverage (increased $100 from 2014)

Posted April 4th, 2014 in Producers, Employers, Individuals

The Internal Revenue Service (IRS) recently issued long awaited guidance that details how someone can be Health Savings Account (HSA)-eligible the following plan year if they have access to funds that rollover from a Healthcare Flexible Spending Account (FSA) from the previous plan year. 

Posted February 26th, 2014 in Producers, Employers, Individuals
Meet José. He is ready to file his taxes and needs a little help with what is required for him since this is his first year with a health savings account (HSA).
 
This handy infographic lists the forms needed for individuals with HSAs when filing taxes in 2013.

Benefits Buzz

Enter Your Email

Tag Cloud

Archives