READ TIME: 2 MINUTES These limits will differ depending on whether an individual is covered by a self-only or family coverage tier under an HDHP. The IRS’s new higher HSA contribution limit and HDHP out-of-pocket maximum will take effect January 1, 2022. HDHP deductible limits will increase for plan years that begin on or after […]
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Health Savings Accounts: What You Need to Know
A health savings account (HSA) is a tax-exempt trust or custodial account set up with a qualified HSA trustee (such as a bank or insurance company) that is used to pay or reimburse certain medical expenses. HSAs were first available as of January 1, 2004, and have grown greatly in popularity. An eligible individual (with […]
Read moreHRAs, HSAs, and Health FSAs – What’s the Difference?
Health reimbursement arrangements (HRAs), health savings accounts (HSAs) and health care flexible spending accounts (HFSAs) are generally referred to as account-based plans. That is because each participant has his or her own account, at least for bookkeeping purposes. Under the tax rules, amounts may be contributed to these accounts (with certain restrictions) and used for […]
Read moreWebinar | What Does GREAT Look Like with HSA Planning?
Do you know what “GREAT” looks like with HSA Planning? Both employers and employees are concerned about escalating health insurance costs impacting them today and how to also plan for these costs in retirement. Traditional health insurance with copay based plans and traditional retirement planning does not address either concern with the most tax advantaged […]
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