The HSA Crystal Ball: Moving from Spending to Saving
Many accountholders continue to use their HSA the same way they use their flexible spending account — using available funds for current expenses, leaving little to rollover from year-to-year. While that is an option with HSAs, it is not a requirement and employees could be missing out on the benefit of growing their balances over the long-term.
Cafeteria Plans: Still Going Strong After All These Years
Cafeteria plans are governed under Section 125 of Internal Revenue Code as part of the Revenue Act of 1978. Section 125 has been amended from time but has largely been flying under the radar since 1978. With the passage of the Affordable Care Act, cafeteria plans have been rediscovered by a whole new generation of employers and their advisers. Here, in the most basic terms, is what advisers need to know about these plans.
Though millions of Americans have gotten health coverage under the Patient Protection and Affordable Care Act, a new report finds many more either are still unaware of their options or are simply not interested. According to a new report, about 60 percent of the remaining uninsured population cite cost as the reason why they do not have health coverage. But another 20 percent simply say they don’t want it.
'Health Care Sharing Ministries' Increase Membership in Wake of Obamacare
More than 300,000 Americans are taking advantage of a little-known provision in the nation's health care law that allows them to avoid the new penalties for not having health insurance. Obamacare gave its blessing to Americans to opt out of the insurance mandate if they object on religious grounds. The obscure provision has quietly been a boon for health care sharing ministries.
Cutting Out the Middle Man with Direct Pay Health Care
Direct pay family practices are popping up across the nation and in the Chippewa Valley around Eau Claire, Wisconsin. It's a simple way of getting health care for your family with no surprising bill at the end. Doctors say direct pay can be helpful for patients with no insurance, high deductibles or health savings accounts.