Learn how offering a Healthcare Flexible Spending Account (HCFSA) or a Health Savings Account (HSA) can help employees navigate qualified medical out-of-pocket expenses.
The Internal Revenue Service (IRS) recently announced in Revenue Procedure 2019-25 the contribution limits for Health Savings Accounts (HSAs), and guidelines for HSA-Qualified High Deductible Health Plans (HDHPs) for 2020.
High-deductible health plan and Health Savings Account (HSA) enrollment reached 21 million members in 2017 and is expected to continue to climb. But, because the Internal Revenue Code (IRC) sets specific eligibility requirements for HSA participation, they may not be for everyone. Let’s look at the criteria an individual must meet before enrollment happens.
Many companies have shifted to offering a Qualified High Deductible Health Plan (HDHP) with Health Savings Account (HSA) for employees. Because HSAs are different from Flexible Spending Accounts (FSAs), it’s extremely important to educate your employees for the transition.
Love them or hate them, HDHPs aren’t going away any time soon. If you’re considering making the switch, here are some important questions to ask.