HSA Compliance Corner Does Spouse’s Disqualification End the Other Spouse’s Catch-Up Opportunity? Your spouse is no longer HSA-eligible. Can you make catch-up contributions to your own Health Savings Account? It depends. Are you still enrolled in an HSA-qualified medical plan? Do you have any disqualifying coverage? Medicare is often the most confusing of these […]
HSA Compliance Corner Turning 65 Mid-Year? Can You Make a Full Annual Contribution? It Depends. The mere act of celebrating a 65th birthday has no direct effect on your eligibility to fund a Health Savings Account. But it sets up a potential disqualifying event because enrollment in any Part of Medicare disqualifies you from […]
News from Washington Your Telemedicine Cost-Sharing Requires Congressional Action The Covid-19 pandemic changed the way we receive medical care, leading to dramatic growth in virtual visits with providers at a time when telemedicine was the only option to connect medical providers with patients. In response, federal lawmakers eliminated financial barriers to virtual care. But […]
HSA Compliance Corner Your Doctor Prescribes It. But Is It Qualified for Tax-Free Reimbursement? There are many health care services and goods that you can reimburse tax-free from an HSA, but some require a doctor’s prescription, and even that might not satisfy the IRS. In the case of a non-traditional prescribed course of treatment, […]
News from Washington Republicans Take Control of House Republicans will take control of the House of Representativesafter results released more than a week after a brutal election night give them what is projected to be a narrow edge in the next Congress. The GOP took a slim lead after the Associated Press called a […]
News from Washington Democrats Will Keep Control of Senate, Bucking Historical Trend Democrats are projected to hold onto their narrow Senate majority after Sen. Catherine Cortez Masto eked out a win in Nevada Saturday night, beating back a furious challenge from Republicans who sought to seize on voters’ growing economic and political angst in […]
News from Washington HHS Renews Public Health Emergency for Monkeypox Outbreak The Department of Health and Human Services renewed the national public health emergency for the monkeypox outbreak even as cases continue to drop. There are currently no vaccines or treatments specifically meant for monkeypox. The public health emergency for monkeypox was first signed […]
HSA Studies & Analysis PSCA Finds More Employers Using Automatic Enrollment for HSAs More employers are using automatic enrollment into HSAs as part of an effort to position the accounts more as savings vehicles than spending vehicles, according to a new survey. Automatic enrollment “dramatically increases” the savings rate. Employers are still struggling, however, with […]
HSA Compliance Corner Questions About Medicare and HSAs Keep Surfacing – Part A Collisions Too few Americans approaching age 65 know the ins and outs of Medicare enrollment. As the number of working seniors (those who remain employed after their 65th birthday) increases and Health Savings Accounts become more widespread, the conflicts between the […]
News from Washington Biden Administration Extends COVID-19 Public Health Emergency DeclarationThe Biden administration on Thursday extended the nation’s COVID-19 public health emergency for the next 90 days as officials brace for a potential surge of infections over the winter. The public health emergency was first declared in January 2020, and has been renewed every 90 […]