Employees who have access to HRAs often have a lot of questions about their benefit accounts regarding funding, eligible expenses, and more. Here’s a list of Health Reimbursement Arrangement FAQs. A Health Reimbursement Arrangement (HRA) helps employees pay for out-of-pocket medical expenses for themselves and their families. Unlike Flexible Spending Accounts (FSAs), though, HRAs are … More >>
During back-to-school time, families engage in the annual rituals of shopping for clothes, school supplies, and other essentials. School-aged children definitely have a lot of needs, and one of them is healthcare. That’s where your employer-sponsored benefits can help! When the kids are in school, remember to use your benefit account (Flexible Spending Account or … More >>
Consumer directed healthcare accounts not only help users save money due to their tax-advantaged status, but also give account holders more control over their healthcare dollars. This article and infographic provide an overview of HSAs, HRAs, and FSAs, along with other helpful information. What are Consumer Directed Healthcare Accounts? A consumer directed healthcare (CDH) account … More >>
Did you know that a change of status during the plan year affects the account holder’s annual Health Savings Account (HSA) contribution limit? The following provides an overview of regulations plus examples of how the changes to contribution limits are calculated. If you have an HSA, you are probably aware that you can change your … More >>
Captain Contributor™ is not your everyday superhero. He’s the basis for a year-round, comprehensive program to educate and engage employees about tax-advantaged benefit plans. Let’s face it. Benefits enrollment can be boring and the information is dense. Many employees have a hard time understanding their benefits and why they should use them. In a recent … More >>
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). An LPFSA is an option made available by some employers in conjunction … More >>
Health Reimbursement Arrangements (HRAs) are employer-sponsored benefit plans that reimburse employees for qualified expenses. Unlike other types of employer-sponsored healthcare benefits, an HRA plan is owned and completely funded by the employer. Employee participants do not make contributions or pay taxes on reimbursements received. Generally, there are no limits on employer contributions to regular HRA … More >>
Health Savings Accounts (HSAs) were created to make healthcare more affordable and expand freedom in personal healthcare decisions. They can also play a significant role in saving for retirement. Due to their multiple tax advantages, generous contribution options, and valuable investment opportunities, HSAs can be used to supplement retirement accounts. HSAs and Healthcare First and … More >>
When it comes to FSA vs HRA vs HSA, can you tell the difference? Each has its own distinct purposes. Below is a quick overview, plus a helpful infographic that compares specific features of each type of account. When it comes to consumer driven healthcare (CDH), there are three popular tax-advantaged benefit accounts: the Flexible … More >>
Did you know that HSA owners not only enjoy tax-free interest on their balances, but also tax-free returns from HSA investing? With interest rates at historic lows, consider investing your account funds to achieve substantial growth. Health Savings Accounts (HSAs) are tax-advantaged savings accounts that help people with a high deductible health plan pay for … More >>
Believe it or not, August is here! For many Flexible Spending Account (FSA) holders, there are only five months left before the end of their plan year and the FSA “use or lose it” policy has people thinking about how to make the most of their tax-free contributions. The great news is that back-to-school shopping … More >>
