HSA vs. 401(k): How Much Should You Contribute?
At any small and midsize business, your human resources team is busy and likely overwhelmed. Not...
Prior Year HSA Contributions Reminder
January marks the start of a new year and is a great time to remind your employees that they have...
Understanding the High Deductible Health Plan
When going through the open enrollment season for health insurance plans, you will likely see many options presented to you–HDHP, HMO, or PPO. It can be confusing or overwhelming. We’re going to demystify the High Deductible Health Plan (HDHP) and help you understand...
Understanding Feminine Hygiene Products and Your HSA
Ask any woman–tampons, pads, or any item that falls under the category of feminine hygiene products–are considered a necessity. So, it stands to reason that these products have always been considered a qualified medical expense and HSA eligible, right? Not...
3 Ways to Make the Most of Your HSA
Once you sign up for your health savings account (HSA) and start making contributions, you might be wondering “What can I do to make the most of this powerful little tax-advantaged account that I just opened?” Read on for some helpful tips on how to make the most of...
Understanding the Power of Triple Tax Advantage for HSA
The Health Savings Account (HSA), which goes hand in hand with a High Deductible Health Plan (HDHP) has many wonderful benefits—but one especially amazing one is the Triple-Tax Advantage. It is a heavily touted feature that is worth taking a closer look at. Let’s...
What Joe Biden’s Presidency Could Mean for Your Healthcare
Retirement Planning with the Biden Plan for Older Americans Joe Biden accepted the Democratic Presidential nomination earlier this week and named Kamala Harris as his running mate. It is time to look at his retirement policies in the Biden Plan for Older Americans,...
Your Quick Guide to Qualified Medical Expenses
What is a Qualified Medical Expense? Once you open a Health Savings Account (HSA) and begin making contributions, you can use the money to pay for medical expenses tax-free. This money can be used for you, your spouse, or your dependents. The IRS considers medical...
Key Updates to Health Savings Account (HSA) in the CARES Act
Must-Knows About HSAs, The CARES ACT, and COVID-19 In March 2020, Congress and the President passed the CARES (Coronavirus Aid, Relief, and Economic Security) Act to help Americans better cope with the pandemic’s effects. The CARES Act includes essential updates...
Health Savings Account Limits in 2021
Health Savings Account Limits in 2021 Earlier in June this year, the IRS released the calendar year 2021 inflation-adjusted dollar limits for the Health Savings Accounts (HSAs). The Revenue Procedure notification contains the maximum annual HSA contribution amounts,...
What is the Difference Between HSA and FSA?
A Health Savings Account (HSA) or a Flexible Spending Account (FSA) allows people to contribute pretax dollars for qualified medical expenses such as copayments and deductibles.