HSA News for August 30, 2021
HSA news is compiled weekly by Mr. HSA, Roy Ramthun.
News from Washington
House Democrats Break Internal Impasse to Adopt $3.5T Budget Plan
House Democrats rallied behind a new strategy to advance President Biden’s economic agenda shortly after Speaker Nancy Pelosi (D-CA) struck a deal with a small group of moderates that was threatening to blow up leadership’s carefully laid plans to pass trillions of dollars in federal spending.
Health Lobbies Aim to Scale Back Democrats’ Medicare Ambitions
Congressional Democrats’ push to add dental, vision and hearing coverage to Medicare is running into resistance from powerful health industry lobbies — an early sign of the battles facing lawmakers when they return to debate a $3.5 trillion social spending package.
CMS Delays Enforcement of Key Parts of Price Transparency Rule by 6 Months
The Biden administration has delayed enforcement of key parts of a major insurer price transparency rule by six months until July 1, 2022, to give plans more time to comply. The Centers for Medicare & Medicaid Services (CMS) announced the change in a new guidance released August 20 focusing on the final price transparency rule released last October under the Trump administration.
Age Thresholds for Certain Health Screenings Are Getting Younger
The U.S. Preventive Services Task Force lowered the recommended starting age to screen for Type 2 diabetes from age 40 to 35. This is the third announcement from the Task Force so far this year that has lowered the age recommendation in order for physicians to catch diseases at more favorable and crucial stages.
HSA Studies & Analysis
HSAs in the USA: 5 States With the Most People Covered, 5 With the Least
Devenir has given another peek into the current state of HSAs with its demographic survey. The study also found that HSAs are being used in every state in the country, with some states reporting nearly 77% of the privately insured populations being covered by an HSA. See our slideshow for the states with the highest and lowest numbers of people covered by HSAs.
HSA Compliance Corner
2022 Coverage of Preventive Services in Non-Grandfathered Group Health Plans
The Affordable Care Act’s preventive services mandate for non-grandfathered plans requires certain preventive services be covered in-network without cost-sharing for plan participants. A group health plan must cover a new or updated recommended preventive service starting in the plan year that begins on or after exactly one year from the issue date. The following are new or modified preventive care recommendations that were issued between the end of the year in 2020 to current date.
The HSA Market
Is a Medical Expense Crisis Looming?
As the pandemic stubbornly lingers, more than a third of insured adults are having problems paying medical bills, according to a recent survey. Fortunately, Vive offers a no-fee, no-interest financial solution that pairs with and improves HSA-linked CDHPs. Employees enrolled in a Vive HDHP are given a no-interest credit facility that covers deductible costs beyond the balance of their HSA.
Maximizing Your HSA
Funding Health Care Spending with an HSA
When it comes to funding your health care expenses, it’s important to consider every option available to you. One of the most rarely used and misunderstood financing options is a health savings account, and it can offer significant benefits. Watch this video to learn more.
Consumer-Driven Health Care
Hospitals and Insurers Didn’t Want You to See These Prices. Here’s Why.
An investigation into hospital price transparency found that providers charge patients vastly different prices for basic medical services and that some major health insurers negotiate unfavorable rates for customers. The investigation concluded that the lack of transparency means some patients are being charged significantly more for health care than if they were uninsured.
How to Look Up Prices at Your Hospital, if They Exist
A new federal rule requires hospitals to post the prices they negotiate with private insurers. But most hospitals have not yet posted the required data. Even when they have, finding it can take time and legwork. Also, you may need to be a computer programmer to open it. We interviewed several researchers who have spent months collecting the data. They recommended several simple strategies.