On May 10, 2021, the Internal Revenue Service (IRS) released Revenue Procedure 2021-25 announcing the annual inflation-adjusted limits for health savings accounts (HSAs) for calendar year 2022. An HSA is a tax-exempt savings account that employees can use to pay for qualified health expenses. To be eligible for an HSA, an employee: Must be covered by a
FSA / HSA Accounts: As an integral part of the CARES Act Stimulus Bill recently passed, the government has reinstated coverage for Over-the-Counter medications and drugs. What does this mean to you? You can now use your FSA or HSA account to purchase medications and drugs over the counter without a prescription. If you
On November 5, 2018, the Internal Revenue Service (IRS) released Notice 2018-85 to announce that the health plan Patient-Centered Outcomes Research Institute (PCORI) fee for plan years ending between October 1, 2018 and September 30, 2019 will be $2.45 per plan participant. This is an increase from the prior year’s fee of $2.39 due to
Taking control of health care expenses is on the top of most people’s to-do list for 2018. The average premium increase for 2018 is 18{888bc141b059eeb483869df1d78049546854ddabf1435b1c01d5f55ea75bfc24} for Affordable Care Act (ACA) plans. So, how do you save money on health care when the costs seems to keep increasing faster than wage increases? One way is through
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