| News from Washington |
|---|
| FDIC Consumer News: Health Savings Accounts If you are enrolled in only one health insurance plan and it has a high deductible, you are probably eligible to open an HSA, a type of savings account that lets you set aside money on a pre-tax basis to pay for qualified medical expenses. If you are interested in learning more, here are some basic points. Read More |
| Bipartisan Effort Would Add Another Way to Save for Health Care Expenses A bipartisan group of lawmakers, led by Reps. Blake Moore (R-UT) and Jimmy Panetta (D-CA) introduced a bill to create a new type of tax-advantaged savings account to be used for medical expenses. The “HOPE Act” (H.R. 9394) would allow anyone with health coverage to contribute up to $4,000 annually ($8,000 annually for families). Read More |
| Industry News |
|---|
| HealthEquity Partners with Paytient to Offer Enhanced Employee Benefits HSA provider HealthEquity has announced a new collaboration with Paytient to offer employees a powerful new benefit: Health Payment Accounts (HPAs). Employees can use HPAs to pay for medical, dental, vision, Rx, and even pet care expenses. There are no credit checks required, and HPAs do not impact credit scores. Members have flexibility in payment options and repayment methods. Read More |
| Flex Raises $3.2 Million for HSA and FSA Payment Acceptance Health and wellness-focused FinTech Flex raised $3.2 million in seed funding which will help the company offer direct-to-consumer health and wellness brands an easier way to accept HSA and FSA payments online. Online acceptance of HSA and FSA payments has been difficult because of the need to substantiate each item’s eligibility “on the fly.” Read More |
| Thatch Raises $38 Million Series A Led by General Catalyst and Index Thatch announced $38 million in new Series A funding to give companies and brokers an easy-to-use platform that helps employers save money while giving employees the freedom to choose their healthcare coverage. Index Ventures and General Catalyst are leading an investment to help scale the Thatch approach to millions of employees. Read More |
| Best Practices |
|---|
| How Employers Can Help Workers Who Face High Barriers to Life-Saving Care In an era of increasing prices of medical care, employers have several tools at their disposal to ease the burden of high deductibles on their covered employees. Some of these tools help workers regardless of income, whereas others are targeted to deliver relief to lower-wage workers. Read More |
| Market Trends |
|---|
| Recession Could Help HSA Sales, HealthEquity Executive Says If the U.S. job market is weakening, that could help HSA sales, said HealthEquity CFO James Lucania during a conference call with securities analysts. For an employer trying to cut costs but maintain good benefits, one way is to combine a high-deductible health plan with a Health Savings Account. Read More |
| Payers Move to Ditch Deductibles The trend of health insurers launching products without traditional deductibles is accelerating, reflecting a broader shift toward consumer-centric healthcare. As member expectations evolve, insurers are increasingly offering plans that emphasize transparency and simplicity. Health Care Service Corp., parent of five BCBS plans, is the latest insurer to announce the alternative health plans following UnitedHealthcare earlier this year. Read More |
| Maximizing Your HSA |
|---|
| How To Use a Health Savings Account Medical costs are a significant source of stress for many people, and 75% of Americans have put off necessary medical procedures because of the cost. HSAs are an excellent way to reduce healthcare costs, limit your tax liability and plan for retirement. This article will explain how to use an HSA and how to find the plan that’s right for you. Read More |