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 17 years. With the January 12, 2023 release of the December inflation figures by the Bureau […]
HSA Studies & Analysis Segal: Colleges and Universities Are Embracing HDHPs with HSAsSegal’s 2022 College and University Benefits Study found there’s been steady growth in HDHPs as a percentage of all health plan offerings. The study also found a dramatic increase in the percentage of institutions offering HDHPs with Health Savings Accounts. Institutions are paying […]
News from Washington Pre-Deductible Telehealth Coverage Extension Included in 2023 Spending BillThe $1.7 trillion omnibus spending bill signed into law by President Joe Biden on December 29 includes a provision extending the telehealth relief in the CARES Act of 2020 which gives employers and health plans the option to provide pre-deductible coverage of telehealth services […]
News from Washington House Ends Congress by Passing $1.7 Trillion Funding PackageThe House passed a mammoth $1.7 trillion omnibus package on December 23, capping off weeks of drama to lock down government funding for the next fiscal year. The bill passed largely along party lines, 225-201-1, a day after the Senate approved the bill in […]
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 […]