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Posts by Further Team

Why Employers Need Different Messaging for HDHP and PPO Members

different employees with different health plans should receive different messaging

Comprehending the complex world of health care is not for the faint of heart. There’s acronyms galore, many different provider options and according to a 2019 published study, the majority of U.S. adults (51%) reported having inadequate health insurance literacy as measured by knowledge of basic insurance terms. Perhaps even more concerning is that close…

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HSAs: A Powerful Recruitment and Retention Tool

HSAs can be powerful recruitment and retention tools

Health benefits packages have always been an important component of a job offer. However, the benefits package offered at a new job has taken on new significance in recent years as health care costs have continued to climb, with no signs of stopping, and more and more of that cost is being shifted onto consumers.…

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How COVID-19 has Changed Employees’ Benefits Awareness

how to help employees optimize health benefits during covid-19

COVID-19 has changed much of the world that we live in, including how people think about and value their own health and wellness. As COVID-19 began to spike in the U.S., consumers shifted habits related to their overall health and Health Savings Account (HSA) usage. In fact, in a recent Further survey, we learned that…

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Survey Finds HSA Perception Gap Among Employees and Employers

Survey Finds HSA Perception Gap Among Employees and Employers

As employees across the United States are faced with rising health care costs and living with continued health fears in the wake of COVID-19, many are looking to their employers for tools and resources to pay for care today, including health savings accounts (HSAs). To better understand how employees are using their HSAs, Further surveyed…

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IRS Announces 2021 HSA and HDHP Limit Increases

2021 HSA contribution limits announced

For 2021, the IRS just announced the increased new contribution limits for Health Savings Accounts (HSA) to $3,600 for individuals and $7,200 for family plans. In turn, adjustments to High Deductible Health Plans (HDHP) were also made. The minimum HDHP deductible is $1,400 for individuals and $2,800 for families, with a maximum out-of-pocket expense of…

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CARES Act Permanently Extends Eligible Expense Items

The CARES Act made several routine expenses eligible for HSA and FSA reimbursement

With the passage of the CARES Act in March 2020, additional over the counter (OTC) products and feminine hygiene products are now eligible to be purchased using a medical spending account, such as an health savings account (HSA). Prior to the passage of the act, these items were only eligible for reimbursement with a prescription.…

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Deadline Extended for 2019 Health Savings Account Contributions

2019 HSA Contribution Deadline Extended to July 15

The IRS recently announced that the 2019 federal tax filing deadline has been extended to July 15, 2020, giving Americans more time to gather their 2019 information amidst the COVID-19 pandemic. With that extension, those who have a high deductible health plan (HDHP) paired with a health savings account (HSA), may still contribute funds and…

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What Does the CARES Act Mean For Health Spending Accounts?

CARES Act makes over the counter medicine eligible for HSA and FSA expenses

On March 27, 2020, President Donald Trump signed the $2 trillion emergency spending bill, the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This new law amounts to the largest stimulus package in U.S. history, and is aimed at providing economic relief to American workers, families and businesses impacted by Coronavirus. In particular, there are…

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The Growing Role of Health Spending and Savings Accounts in the Benefits Portfolio

employers talk about spending account benefits

With the continuous trend of rising health care costs, companies are constantly seeking opportunities to contain costs, while providing employees with comprehensive benefits offerings. Employers recognize the need to cater to cross-generational employees when it comes to benefits packages–particularly in the area of health care coverage. Health saving and spending accounts, such as HSAs and HRAs, provide employers…

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