Leveraging HSAs to Help Your Staff Manage Health Care Costs

| posted in Blog, Newsletter

With the COVID-19 pandemic weighing on employers and employees alike, businesses can help their staff by leveraging health savings accounts to pay for out-of-pocket expenses. With increased flexibility from recent changes, more employees may see benefit from using an HSA. In 2020 congress untethered HSAs and flexible spending accounts by changing the rules that prohibited account holders from using the funds in their accounts for over-the-counter medicines and other non-prescription health products and services. That change, which is permanent, was done through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. HSAs are a great option to help employees save…
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Employees Satisfied with Plans, but Health Plan Costs a Burden

| posted in Blog, Newsletter

While health insurance premiums aren’t going up as much as they have in past years, both employers and their workers are still struggling with higher health care costs. Whether it’s higher deductibles or out of pocket maximums, health plan costs continue to be a financial burden on American families. According to the “2018 Health and Voluntary Workplace Benefits Survey,” published by the Employee Benefit Research Institute together with Greenwald & Associates, roughly half of all workers experienced an out-of-pocket cost increase in their workplace health insurance plans. That’s roughly the same percentage as in 2017, but lower than the 61%…
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