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Category: HSA
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Benefits Breakdown June 2024 | Pennsylvania Benefits Consultants
HSA/HDHP Limits Will Increase for 2025 The IRS released the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2025. The IRS is required to publish these limits by June 1 of each year. These limits vary based on whether an individual has self-only or family coverage under an HDHP.…
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Benefits 101: What is an HSA? | Pennsylvania Benefits Partners
Are you the type of person who loves to save money? You’ll be happy to know that there’s a way to do so with your health care costs. It starts with medical expense accounts which let you set aside money to pay for certain health products and services. One type of medical expense account is…
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IRS Announces HSA Limits for 2022 | PA Benefits Advisors
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…
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PCORI Fee Increase for Health Plans | PA Benefits Consultants
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…
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Looking Backward to Plan Forward | PA Employee Benefits Firm
As you begin your research into which plan to choose or even how much to contribute to your Health Savings Account (HSA), consider evaluating how you used your health plan last year. Looking backward can actually help you plan forward and make the most of your health care dollars for the coming year.
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IRS Changes Course (Again) and Restores 2018 HSA Family Limit to $6,900 | PA Employee Benefit Advisors
On April 26th, the Internal Revenue Service (IRS) announced that the 2018 annual contribution limit to Health Savings Accounts (HSAs) for persons with family coverage under a qualifying High Deductible Health Plan (HDHP) is restored to $6,900. The single-coverage limit of $3,450 is not affected. This is the final word on what has been an…
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Price Shop Healthcare | PA Employee Benefit Brokers
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in benefits, budgets, Financial Planning, Financial Wellness, health, Health Care, Health Insurance, Health Insurance Providers, Health Savings Account, HRA, HSA, Insurance, Juvenile Life Insurance, Latest News, Medical Savinfgs Accounts, Medical Savings Accounts, Medicare, Pennsylvania, Philadelphia, WellnessAs the costs of health care soar, many consumers are looking for ways to control their medical spending. Also, with the rise of enrollment in high deductible health plans, consumers are paying for more health care out-of-pocket. From medical savings accounts to discount plans for prescriptions, patients are growing increasingly conscious of prices for their…
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Benefits Easy: Health Savings Accounts | Pennsylvania Benefit Consultants
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% 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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How to Make the Most Out of Your FSA at Year-End | PA Benefit Advisors
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As 2017 comes to a close, it’s time to act on the money sitting in your Flexible Spending/Savings Account (FSA). Unlike a Health Savings Account or HSA, pre-taxed funds contributed to an FSA are lost at the end of the year if an employee doesn’t use them, and an employer doesn’t adopt a carryover policy.…
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