Posts by Further Team
IRS Announces 2022 HSA and HDHP Limit Increases
The IRS has announced increased contribution limits for Health Savings Accounts (HSAs) in 2022. The new limits are: $3,650 for individuals (up $50 from 2021) $7,300 for family plans (up $100 from 2021) No changes were made to high deductible health plans’ (HDHP) minimum annual deductibles; they will remain the same as 2021: $1,400 for individuals and…
Read MoreSupport Family Benefits with the Adoption Assistance Program
Every year, thousands of U.S. families adopt a child and need to pay for adoption expenses, which can be costly. But there is a way that companies can help employees embarking on this life journey – through an Adoption Assistance Program. An Adoption Assistance Program (AAP) account [link to learning center page] is an employer-sponsored…
Read MoreManaging Investment Accounts During Market Fluctuations
Recent headlines have been filled with news of rapid and wild fluctuations in the value of investments such as mutual funds and money market accounts, causing many people to reassess their investment portfolios to make sure they are meeting their financial goals while managing their risk tolerance. Employees who have invested Further health savings accounts…
Read MoreThree “201” Strategies for Maximizing HSAs
When it comes to health care consumerism, we have good news. Through both offline and online resources, our data shows that consumers are becoming more educated on using their health care spending dollars wisely. Consider these facts: Consumer Directed Health Plan (CDHP) participants are 39% more likely to check the price of a service before…
Read MoreLife Changes and HSAs: The Death of an Account Holder
As you present team members with their health care options, many employees may wonder what happens to these benefits after they die. It’s a tough thing to consider, but employees want to make sure that their loved ones will be taken care of. During their career, an employee may save a significant amount of money…
Read MoreLife Changes and HSAs: How to Advise Employees Turning 65
With every age comes new milestones and turning 65 is no different. Many of your team members might start thinking about retirement at this age, and even if an employee is still actively working at 65, if they have a health savings account (HSA), there are several new rules and regulations they should be aware…
Read More4 HSA Strategies for Maximizing Their Use
We get it. For your employees, being an active health care consumer and managing health savings accounts (HSAs) can be confusing, especially if utilization is infrequent. In fact, data from a Further study fielded in 2020 shows 40% of employees feel less than confident in understanding this benefit offering and how to fully leverage it.…
Read MoreHelp Your Employees Take Full Advantage of Their HSA in the New Year
It’s a new plan year for you and your employees! For some of your employees, this year may be their first time managing a health spending account (HSA). And because our data shows that 65% of consumers report using their HSA as a spending resource (with 23% stating they use their account equally for saving…
Read MoreConsolidated Appropriations Act, 2021: What does it mean for FSA and DCAP?
The Consolidated Appropriations Act, 2021, was signed into law on December 27, 2020. This COVID relief bill includes several items that impact medical flexible spending accounts (FSAs) and dependent care assistant plan (DCAP) accounts. Most of these changes are temporary – only lasting through 2022 – but the enhancements may affect how you choose to…
Read MoreHealth Care Finance Year in Review: 2020
When 2020 began, it’s safe to say no one could have predicted all that was to come. As individuals and organizations, we all came together to quickly pivot to keep ourselves, our families, and our communities safe. As we look back over the year, organizations and legislation has also changed to address the COVID-19 pandemic,…
Read More
