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The HSA: A healthy supplement to your wealth-building regimen

WebA Health Savings Account (HSA) can be a powerful tool for financing health care expenses while supplementing your other retirement savings vehicles.

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URL: https://www.millerkaplan.com/knowledge-center/the-hsa-a-healthy-supplement-to-your-wealth-building-regimen/

Is an HSA Right For You

WebTo help defray health care costs, many people now contribute to, or are thinking about setting up, Health Savings Accounts (HSAs). With these accounts, …

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Supplementing your company’s health care plan with an EBHRA

WebIn 2022, up to $1,800 can be newly allocated to each participant per plan year to reimburse eligible medical expenses. This amount will rise to $1,950 for plan years beginning in …

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Employers: Will your health insurance be “affordable” in 2022

WebIn Revenue Procedure 2021-36, the IRS recently announced an important indexing adjustment related to the Affordable Care Act (ACA). Now is a good time to …

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IRS information letters share helpful details on HDHPs + HSAs

WebMany employers have found value in combining a high-deductible health plan (HDHP) with a Health Savings Account (HSA). The IRS recently published two …

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Key factors for employers in choosing an affordable health plan

WebFor employers of all sizes, choosing an affordable yet fully featured health plan to sponsor for employees isn’t easy. And yet, for most organizations, it’s an imperative.

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Wellness Programs Are Subject to Many Federal Laws

WebAt the beginning of the year, many people make resolutions about improving their physical fitness and overall well-being. Employers may seek to give these goals a boost in the …

Category:  Fitness Go Health

Cost containment: An important health care benefits objective for

WebAs the Fed continues to do battle with inflation, and with fears of a recession not quite going away, companies have been keeping a close eye on the costs of their …

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With benefits costs likely to rise, employers may want to consider …

WebIt will likely come as little surprise that the cost of health care benefits for employers is expected to rise in 2024. Inflation, though not out of control, remains a …

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Applicable large employers: Determine the “affordability” of your …

WebEarlier this year, the IRS released Revenue Procedure 2023-29, in which it announced an important indexing adjustment to the Affordable Care Act (ACA).

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A Refresher on The ACA’s Tax Penalty on Those Without Health …

WebNow that Affordable Care Act (ACA) repeal and replacement efforts appear to have collapsed, at least for the time being, it’s a good time for a refresher on the tax …

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Imposing Health Care Plan Waiting Periods on Rehired Employees

WebIt’s not uncommon for employers in some industries and localities to occasionally rehire a previously terminated employee. Should such a situation occur, you …

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Employees: Don’t forget about your FSA funds

WebMany employees take advantage of the opportunity to save taxes by placing funds in their employer’s health or dependent care flexible spending arrangements (FSAs).

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Can you qualify for a medical expense tax deduction

WebYou may be able to deduct some of your medical expenses, including prescription drugs, on your federal tax return. However, the rules make it hard for many …

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IRS to employers: Only medical expenses qualify for tax …

WebParticipants can channel up to $3,200 in 2024 (up from $3,050 in 2023) of pretax income into these standalone, employer-owned accounts. The account then …

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Understanding the terms of health care directives

WebEstate planning experts usually cite the need to include advance health care directives in a comprehensive estate plan. But there may be different legal names given …

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Remember to use up your flexible spending account money

WebDo you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses? As the end of 2021 nears, …

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Don’t forget to empty out your flexible spending account

WebIf you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses, there’s an important date coming up.

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Determining eligibility for HIPAA administrative simplification

WebJune 1, 2021. A health care plan with fewer than 50 participants that’s administered by a sponsoring employer may have fewer compliance hassles. That’s because it’s excluded …

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Agencies clarify plan coverage of COVID-19 tests

WebOn February 4, the Department of Labor, IRS and Department of Health and Human Services issued additional frequently asked question (FAQ) guidance addressing …

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Agencies issue final regs addressing a COVID-19 vaccine and more

WebThe IRS, U.S. Department of Labor and Department of Health and Human Services recently issued interim final regulations addressing group health plan coverage of COVID-19 …

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Employers now have guidance on emergency savings accounts

WebEmployers now have guidance on emergency savings accounts. Although employers have long helped employees save for retirement and have insurance in place …

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