News from Washington Biden, McCarthy Reach Debt-Ceiling Deal. Now Congress Must Approve.An “agreement in principle” between President Joe Biden and House Speaker Kevin McCarthy would raise the nation’s legal debt ceiling, but now Congress has only days to approve a package that includes spending cuts and would avert a potentially disastrous U.S. default. The compromise announced […]
News from Washington IRS Gives Big Boost to HSA, HDHP Limits in 2024Thanks in part to persistent high inflation, employees will be able to sock away a lot more money in their HSAs next year. The annual limit on HSA contributions for self-only coverage will be $4,150, a 7.8 percent increase from the $3,850 limit […]
News from Washington Direct Primary Care Access Would Be Expanded Under Bipartisan Smucker BillA bipartisan bill recently offered by Rep. Lloyd Smucker (R-PA) would allow individuals with direct primary care service arrangements to contribute to their HSAs and use HSA funds to pay for direct primary care fees. Read More HSA Compliance Corner How […]
News from Washington IRS Announces Tax Relief for Victims of Severe Storms, Tornadoes and Flooding in FloridaVictims of severe storms, tornadoes and flooding in Florida from April 12 to April 14, 2023, now have until August 15, 2023, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced. […]
News from Washington Biden Administration Seeks to Pause Order Blocking Obamacare Preventive Care MandateThe Biden administration has asked a federal appeals court to put on hold a judge’s ruling striking down the Affordable Care Act’s mandate that insurers cover preventive care, including screenings for certain cancers and pre-exposure prophylaxis against HIV (PrEP), at no extra […]
News from Washington IRS Announces Tax Relief for Victims of Severe Storms, Straight-line Winds and Tornadoes in IndianaVictims of severe storms, straight-line winds and tornadoes in Indiana from March 31 to April 1, 2023, now have until July 31, 2023, to file various individual and business tax returns and make tax payments, the Internal Revenue […]
Updated November 13, 2024 The following bills have been introduced in the 118th Congress and could impact Health Savings Accounts if enacted. The link for each bill number will take you to Congress.gov where you can find more information about each bill, including names of the bill sponsors and cosponsors, the text and summary of […]
News from Washington Biden Signs Bill Ending National COVID-19 EmergencyPresident Biden signed a GOP-led resolution on April 10, bringing an end to the national emergency over the COVID-19 pandemic. The White House said it was already planning to wind down the national emergency and public health emergency around COVID-19 on May 11, giving states the […]
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 April 12 release of the March inflation figures by the Bureau of […]
News from Washington Biden Administration Appeals Texas Court Decision Striking Down Free Obamacare Coverage of Preventive CareThe Biden administration appealed a Texas federal judge’s decision to strike down free Obamacare coverage of preventive health-care services ranging from screenings for certain cancers and diabetes to HIV prevention drugs. The case will now go to U.S. Fifth […]