HSA Benefits: Portability, Deferred Reimbursement, Catch Up Contributions, and More!

Health Savings Account (HSA) owners – there may be some advantages to your tax-advantaged healthcare benefit account you aren’t aware of. Most people are familiar with the triple tax savings: tax-free contributions, tax-free earnings, and tax-free withdrawals for qualified healthcare expenses. However, while HSAs are designed primarily to help reduce healthcare costs, some benefits of … Read more…

Health Reimbursement Arrangement FAQs

HRA FAQs, questions in meeting

The following guide provides answers to frequently asked questions about Health Reimbursement Arrangements (HRA FAQs). A Health Reimbursement Arrangement (HRA) is part of consumer driven healthcare, allowing participants to use set aside money to pay for out-of-pocket medical expenses for themselves and their families. While HRAs have the same basic legal guidelines as other types … Read more…

What is an LPFSA?

What is an LPFSA?

You’re familiar with healthcare Flexible Spending Accounts (FSAs), with which you can set aside money from your paycheck pre-tax (before payroll taxes are calculated) to use in paying eligible medical expenses. You may not be as familiar, though, with the Limited-Purpose FSA (LPFSA). What is an LPFSA? An LPFSA is an option made available by … Read more…

FSA Eligible Expenses and Other Important Information

For many Americans, Flexible Spending Accounts (FSAs) are an important benefit that helps reduce their out-of-pocket healthcare costs and save money on their taxes. An estimated 43 percent of all civilian (non-government) workers have access to an FSA through their employers. These employer-sponsored, tax-advantaged accounts allow participants (employees) to set aside money before taxes to pay for … Read more…

Healthcare Consumerism: What is it and How Does it Affect Healthcare?

Healthcare consumerism, a movement designed to refine the efficiency and affordability of healthcare services, is working to change how people prioritize their personal healthcare. Imagine a system where savvy patients use their knowledge to take a more active role in purchasing and utilizing healthcare services. Healthcare consumerism is getting closer to making this a reality. … Read more…