The infographic below details the value of consumer-directed healthcare accounts. Learn more from this overview of HSAs, HRAs, FSAs, and other helpful information. What is a Consumer Directed Healthcare Account? A consumer-directed healthcare (CDH) account is a type of medical savings account that: There are three primary types of CDH
As open enrollment winds down, some participants may determine that they have elected too much or too little coverage for next year, while others who ignored enrollment may wish they had chosen something. The good news is that options may still exist. Health Plans Current enrollees in an existing health
Flu season can be miserable for everyone. Parents have to deal with sick kids at home. Employers have to arrange coverage for employees taking sick time. Doctors’ offices are hard to get into for an appointment. So, who should get flu shots? How much could it cost? Which shots are
Via Rev. Proc. 2023-34, the IRS released its 2024 annual contribution limits for Flexible Spending Accounts (FSAs), Qualified Small Employer Health Reimbursement Arrangements (QSEHRAs), adoption assistance, and qualified transportation plans. 2024 FSAs The annual contribution limit for FSAs increased to $3,200, compared to $3,050 in 2023. For plans that include the
Each November, men across the globe observe the Movember awareness initiative by growing mustaches to highlight men’s health issues. Let’s discuss common men’s health concerns and how consumer-directed healthcare accounts can help address them. Men’s Cancer Concerns While men share many of the same cancer-related health concerns as women, they
Are you ready for enrollment season? Open enrollment is when you review your benefit options and choose which ones to renew or enroll in for the next year, like health insurance, life insurance, and tax-advantaged healthcare accounts. Whether you sign up for benefits through an employer or enroll through an
If you receive healthcare benefits from your employer, you will also receive a Summary Plan Description (SPD). Required by law, the SPD defines plan eligibility and explains benefit calculations and payments, how to submit claims, when benefit guarantees begin, and more. Here’s what you need to know about your Summary
Employers seek creative and effective support options for employee health, wellness, and financial needs, giving employees more benefit options than ever. Picking and choosing among them is somewhat like building a meal in a cafeteria line. This ability comes from the IRS’ Section 125, also known as the “Cafeteria Plan” provision.
PCORI fees help fund the Patient-Centered Outcomes Research Institute (PCORI), a group founded in 2010 as a part of the Affordable Care Act (ACA). Learn more about PCORI deadlines, fees, how fees are used, and the future of these payments. PCORI Fees Annual PCORI fees are due July 31 and
In addition to health insurance eligibility, family status changes can impact consumer-directed healthcare accounts. Here’s how mid-year status changes affect FSA and Dependent Care accounts. Can I change my health FSA contributions? Employees may choose FSA participation during open enrollment. This includes deciding on an annual contribution amount up to
