Employees will be able to save more money in their health savings accounts (HSAs) in 2024, thanks to inflation-driven increases in contribution limits. The IRS announced on May 16 that the annual limit on HSA contributions for self-only coverage [...]
On December 23, 2022, the House passed a 4,155-page funding bill, the Consolidated Appropriations Act of 2023 (“CAA-23”), that includes a two year extension on telehealth relief for high deductible health plans (“HDHPs”) offered with health savings accounts (“HSAs”). [...]
You'll be glad you took the tax breaks. Outside of housing and maybe transportation costs, healthcare will likely be your largest retirement expense. It's unfortunate, but doctor visits become more frequent, and more health problems tend to pop up as you [...]
On September 9, 2021, President Joe Biden announced a “Path Out of the Pandemic,” indicating he will use regulatory powers and other actions to increase the number of vaccinated Americans. In short, the plan provides the following: Employers with [...]
In May, the Internal Revenue Service (IRS) announced the 2022 health savings account (HSA) annual contribution limit and the 2022 high deductible health plan (HDHP) definitional limit per Internal Revenue Code Section 223. Under Revenue Procedure 2021-25 the limits for [...]
Many people who opt into Consumer Driven Health Plans (CDHP) don't make the most of the potential advantages of Health Savings Accounts (HSAs), and leave a lot of money on the table for themselves. Open enrollment for 2021 is [...]
A new IRS notice expands the list of preventive care benefits that may be covered by a high deductible health plan (HDHP) without a deductible, or with a deductible below the minimum deductible for an HDHP. Except for preventive care benefits, [...]
On May 28, 2019, the IRS released Revenue Procedure 2019-25 to announce the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2020. These limits include: The maximum HSA contribution limit The minimum deductible [...]
HSA Contribution Limits 2019 HSA contribution limits for 2019 will increase, according to the Internal Revenue Service. The maximum contribution will go up $50 to $3,500 for individuals and $100 to $7,000 for families. Maximum catch-up contributions for [...]
Consumer-Driven Health Plans (CDHP) with health savings accounts (HSAs) provide you with a vehicle to put away money, tax-free, for your health care. And it is always yours. What is a CDHP? CDHPs come in various forms, but most [...]
