High Deductible Health Plans

With open enrollment on the horizon for most Americans, it’s a good time to raise awareness of the potential of high-deductible health plans (HDHPs) and health savings accounts (HSAs). They are a dynamic duo in helping Americans prepare for medical...

Many people don’t think health savings accounts (HSAs) are “for someone like me.” So who are they for, then? We’ve got a simple answer to that question but first, some context … Through consumer research and within focus groups on...

Healthcare benefits in America are often misunderstood. While it’s terrific to have options, the sheer fact that there are more options (and each with their own acronym) has added to the confusion.  Research shows that Americans’ misunderstandings lie not only...

The financial wellness of your employees is a contributing factor to their success and happiness. And it also impacts your company’s productivity. According to a WEX Health report, nearly 20 percent of employees reported that they lacked confidence in their...

Do High-Deductible Health Plans (HDHPs) need Health Savings Accounts (HSAs)? Not necessarily. To participate in an HSA, you must be enrolled in an HDHP. However, the reverse isn’t true: If you’re enrolled in an HDHP, you’re not required to participate...

In March, many Americans let out a sigh of relief when the IRS announced it was extending the deadline for taxpayers and businesses to file their 2019 taxes from April 15 to July 15 because of the COVID-19 pandemic. But...

The IRS has released 2021 Health Savings Account (HSA) contribution limits and 2021 High-Deductible Health Plan limits as part of Revenue Procedure 2020-32. These limits are:  2021 HSA limits:  HSA 2020 2021 Self-only $3,550 $3,600 Family $7,100 $7,200 The 2021...

It’s been a busy few weeks for employee benefits and COBRA changes. We wanted to update you on the latest notices that have been issued by federal agencies.  On April 28, 2020, the U.S. Department of Labor and IRS issued...

Earlier today, the Internal Revenue Service issued a bulletin announcing 2020 health savings account (HSA) contribution limits will increase slightly, reflecting an adjustment for inflation.   For 2020, the HSA contribution limits are $3,550 for individuals with self-only coverage under...

For the past five years, Sibson Consulting has released its annual College and University Benefits Study (CUBS), which analyzes benefit programs data from hundreds of higher education institutions to determine what colleges and universities are doing to attract and retain...