Read the latest news about Health Savings Accounts and consumer-driven health care. News from Washington Democrats Suffer Blow on Drug Pricing as 3 Moderates Buck PartyDemocrats’ signature legislation to lower drug prices was defeated in a House committee on September 15 as three moderate Democrats voted against their party. The vote is a striking setback […]
The Health Savings Account. A tax advantaged account attached to a special type of health plan. The idea is simple. The business of acquiring those accounts? That’s another story. Take a moment to review this picture and try to follow what’s going on. At the bottom are the ultimate HSA users. Employers offer HSAs in their benefit […]
Read the latest news about Health Savings Accounts and consumer-driven health care. News from Washington Sen. Manchin Says He Can’t Support Biden’s $3.5 Trillion Spending PlanSen. Joe Manchin, a key moderate Democrat from West Virginia, said on September 12 that he can’t support President Biden’s $3.5 trillion spending plan. Manchin also said he would look at adjusting […]
Here’s something we are often surprised to find out as we dive deeper into how HSA providers handle this topic: – most make mistakes when handling reversals. Sure, everyone knows most credits are contributions, and those count towards the annual max. And here starts another challenge, not all will enforce the statutory maximum contribution limit. This means, they […]
Mitigating investment risk and maximizing growth. The benefits accounts market, namely HSAs (Health Savings Accounts), FSAs (Flexible Spending Accounts), and HRAs (Health Reimbursement Arrangements) has been growing and getting plenty of attention in the recent years, driven primarily due to the growth in HSAs. According to Devenir, one of the largest HSA investment solutions providers, […]
HSA Consulting Services hereby Issues this Certificate of HSA Operational Compliance to First Dollar. HSA Consulting Services performed an extensive review of First Dollar’s operations and processes, to assess its compliance with HSA rules and regulations around account establishment, transactions processing, statements and tax reporting, as well as proper handling of unique situations pursuant to IRS guidelines. We […]
The Customer Identification Program (CIP), also known as “Know Your Customer“ (KYC), is a compliance component of the account opening process where bank trustees/custodians need to, put in simple terms, ensure that the customer is who they say they are. This is easy to do in person, when they are face to face with the customer at a branch. HSA providers have many […]
As many of you know, I track the data needed to make inflation adjustments for Health Savings Accounts from one year to the next. I have accurately predicted the annual adjustments by the Internal Revenue Service for the past 15 years. With the January 13 release of the December inflation figures by the Bureau of […]
Roy Ramthun and Paul Verberne from HSA Consulting Services welcome Itamar Romanini as their new partner. Itamar brings over 20 years of industry experience in the HSA and CDH space, ranging from operations and technology, to strategy, sales and marketing. This addition expands the scope of capabilities from HSA Consulting Services, which has been focused […]