HSA (Health Savings Account)

What is the Difference Between HRA vs HSA vs FSA? Read this guide for answers to common questions to understand which is best for your needs! Read more.

By Morgan Carpenter December 2020 According to Fidelity, this year the average couple needs $295,000 for medical expenses after the age of 65. As that number sinks in, people tend to respond with, “Well, Medicare will cover that, right?” While Medicare covers many health care expenses, it does not cover everything. Even on Medicare, people […]

Health Savings Accounts (HSA) are great ways to save tax-free money for medical expenses both in the current term, and for your retirement years. By making wise choices, you can maximize the benefit of these fantastic savings accounts. Let’s take a quick look at the basics and then explore some tips on how to make […]

On May 28, 2019, the Internal Revenue Service (IRS) released Revenue Procedure 2019-25 announcing the annual inflation-adjusted limits for health savings accounts (HSAs) for calendar year 2020. An HSA is a tax-exempt savings account that employees can use to pay for qualified health expenses. To be eligible for an HSA, an employee: Must be covered […]

Trying to decide which of the many employer-sponsored benefits out there to offer employees can leave an employer feeling lost in a confusing bowl of alphabet soup—HSA? FSA? DCAP? HRA? What does it mean if a benefit is “limited” or “post-deductible”? Which one is use-it-or-lose-it? Which one has a rollover? What are the limits on […]