HSA News for January 25, 2021
HSA news is compiled weekly by Mr. HSA, Roy Ramthun.
News from Washington
Biden Unveils Coronavirus Plan, Warns It Will Take Months to 'Turn Things Around'
On January 21, President Biden unveiled a comprehensive strategy to address the coronavirus pandemic while warning that it would take months for his administration’s actions to significantly alter the trajectory of the pandemic.
Biden Is Already Facing Pressure to Scale Back His $1.9 Trillion COVID Relief Plan
President Joe Biden’s first Covid-19 package is already facing hurdles in Congress that threaten to force the fledgling administration to curb some of its more progressive aims just one week after the proposal’s debut.
Senate Chaos Threatens to Slow Biden's Agenda
President Biden is facing big headaches on getting his priorities off the ground on Capitol Hill. Biden pledged to unify the country and Democrats are vowing to use their first unified government in more than a decade to enact a “bold" agenda. But they are facing significant hurdles to getting anything done fast.
HSA Compliance Corner
Contribution Limited Affected by VA Benefits? Maybe, Maybe Not.
Care received at Veterans Affairs facilities can interact with Health Savings Accounts in ways that limit your contributions for a year during which you receive certain VA care. Learn more about this treacherous intersection below.
Can You Use Your FSA and HSA Benefits on Your Pets?
You might be wondering if your veterinary bills are covered by your flexible spending account or your health savings account. The short answer is no—but there are a few exceptions.
The HSA Market
Top Considerations for Adopting FSA Funding Relief
The Consolidated Appropriations Act, 2021 provides certain COVID-19-related relief, including options for employers to adopt temporary measures regarding FSAs. These provisions are optional and require plan amendments. However, some changes could negatively impact HSA eligibility for some workers.
Evaluating HSA Providers
Employers need to know what to ask to make sure they choose the right health savings account provider for their employees. Keeping in mind the best interest of participants, plan sponsors might want to consider the ease of HSA use when selecting a provider, though that shouldn’t be their only determinant.
Why It’s So Hard to Cut Waste in Health Care
Cutting waste while preserving critically important treatment is the holy grail of health care policy. The coronavirus pandemic has shown why that goal has been so stubbornly difficult to achieve.
Maximizing Your HSA
Your Company's HSA Provider Doesn't Offer Good Investments? Do This!
You can invest your HSA balances in a wide range of investments, but not every account administrator offers the full range of investments. Although the same range of investments are permitted as with an IRA, some administrators offer only an interest-bearing account or a certificate of deposit.
Consumer-Driven Health Care
How Teladoc Is Teeing Itself Up to Dominate in Telehealth After the Pandemic Subsides
Teladoc is teeing itself up to remain a dominant digital health provider long after the worst of the pandemic subsides. To capitalize on its success and grow its member base, the company is adding new high-profile clients, increasing its average deal size, and selling itself as a one-stop shop for multiple health needs.
Why Medical Tourism Is Drawing Patients, Even in a Pandemic
The fear of large medical bills has outweighed fear of contagion for some, giving rise to an increased number of patients seeking medical treatment in a foreign country.