News from Washington Extension of Telehealth Likely as Negotiations Crest in CongressLawmakers are in the throes of negotiating an end-of-year legislative deal before the government runs out of funding December 20. The latest healthcare deal includes a two-year extension of Medicare telehealth flexibilities and a one-year extension of pre-deductible coverage of telehealth for HSA-qualified plans. Read […]
HSA Studies & Analysis Top 20 HSA Market Concentration – 2024 Midyear UpdateUsing data from its latest HSA Research Report, Devenir analyzed market concentration among the top 20 HSA providers (by assets), finding a 10% increase from the previous year. Market share among the top 5 largest HSA providers increased to 73% of total HSA […]
Compliance Corner Do HSA Funds Expire at the End of the Year? Here’s What You Can, Can’t Buy With Your HSAYou might not know the difference between an FSA and an HSA, or what you can spend that money on. Here’s a simple breakdown of the difference between an HSA and an FSA and what […]
News from Washington Employers and Benefits Brokers Unite to Defend Group Health Tax ExclusionA coalition of benefits brokers, employer groups and benefits groups is trying to ward off any efforts to weaken the current federal income tax exclusion for employer-sponsored health benefits. The Partnership for Employer-Sponsored Coverage has written to the leaders of the House […]
News from Washington Lisa Gomez Expects Fiduciary and ESG Rules to Face Reversals Under New AdministrationIn a public conversation at the PLANADVISER 360 conference in Scottsdale, Assistant Secretary of Labor Lisa Gomez acknowledged that the Department’s retirement security rule, which clarifies when financial professionals are fiduciaries while advising retirement plan participants, may not align with […]
Compliance Corner How Much Can You Contribute If Your Covered Spouse Is Also Enrolled on Medicare?Limits on HSA contributions are always based on the size of the contract, not how many family members covered on the plan are HSA-eligible. For example, if you cover at least one family member besides yourself, you can contribute up […]
HSA Studies and Analysis Only 1 HSA Provider Rated ‘High’ Quality by Morningstar. Here’s WhyOnly one out of the 11 HSA providers reviewed in Morningstar’s annual report card earned a “high quality” rating and just three others received “above average” ratings. Low interest rates for client cash holdings and higher relative fees for custody and […]
News from Washington 2025 Health FSA, Other Health and Fringe Benefit Limits Set On October 24, the IRS released the 2025 contribution and benefit limits for health FSAs, QSEHRAs, long-term care policies, transportation fringe benefits and adoption assistance programs. The 2025 figures reflect the increase in inflation for the 12 months ending August 31, 2024, after […]
HSA Studies & Analysis An HSA-Day Look at Where Health Savings Accounts Stand TodayIn celebration of HSA Day on October 15, here is a perspective on where the market is now, who’s benefiting from HSAs, and what changes we may see in the future. There is no doubt that HSAs are growing. Although the rate […]
News from Washington IRS Provides Hurricane Milton Relief; May 1 Deadline Now Applies to Individuals and Businesses in All of FloridaThe IRS announced that taxpayers impacted by recent hurricanes in all of Florida now have until May 1, 2025 to file various federal individual and business tax returns, make tax payments, and make 2024 contributions […]