Medicare savings accounts (MSAs) and health savings accounts (HSAs) both give consumers tax-advantaged ways to fund the costs of healthcare.
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Medicare open enrollment for 2022 has begun, while Part A is mandatory, some seniors can opt-out of the other parts under certain conditions.
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Making tax-advantaged benefit plans easier to navigate will allow employees to make better use of their benefits.
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In less than 15 years, for the first time, the number of Americans at least 65 years old will be more than the number of Americans under the age of 18.
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The month of October is known for a lot of things, shorter days, cooler temperatures, falling leaves and the arrival of pumpkin spice everything—from baked goods to coffee, yogurt, smoothies, beer—and yes, even pumpkin spice turkey.
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Offering an employer match for both 401(k) accounts and an HSA can increase employee engagement and savings with both accounts.
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The Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted on March 27, 2020. The law permitted flexibility to healthcare spending related to high-deductible health plans (HDHPs).
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A Health Savings Account (HSA) lets you save money in a tax-advantaged account and then withdraw cash tax-free to pay for qualified medical expenses.
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The healthcare industry has taken a hit since COVID-19 caused a tidal wave of layoffs, resulting in the loss of health insurance for employees across the country.
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Devenir tracks health savings accounts in the credit union industry closely through NCUA filings and a variety of other sources.
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A health savings account can be used to pay for more than doctor visits and prescription drugs. Learn about these HSA-qualified expenses.
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In the July-August issue of 55 PLUS, we reviewed the many valuable characteristics of health savings accounts (HSAs), particularly their income tax benefits.
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Health savings accounts have come a long way since their introduction in late 2003.
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I have written previously about the tax advantages associated with health savings accounts. Contributions are tax-deductible regardless of income.
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Over the past couple months, a lot of attention has been given to economy as it starts to recover from the COVID-19 pandemic.
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Health savings accounts and flexible spending accounts are both great tools that can help you save money in taxes and better control your health care costs.
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Research shows that employees overwhelmingly use their health savings accounts (HSAs) for current medical expenses. But being able to invest and carry forward the account balance can help the account holder establish better retirement security.
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On the latest episode of the ABA Banking Journal Podcast — sponsored by Finastra — Eric Remjeske of Devenir Research and Kevin McKechnie of the ABA HSA Council discuss new research findings showing that 63 million Americans are now covered by an HSA, with total assets over $82 billion, and that Americans in their 30s are disproportionately likely to be HSA account-holders.
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The survey data was primarily collected in April of 2021 and largely consisted of top 20 providers in the health savings account market, with all data being collected for the period ending on December 31st, 2020.
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There’s little not to like about a Health Savings Account (HSA). They allow you to invest and withdraw money for health care expenses.
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