In March, many Americans let out a sigh of relief when the IRS announced it was extending the deadline for taxpayers and businesses to file their 2019 taxes from April 15 to July 15 because of the COVID-19 pandemic. But now that the tax-day deadline is approaching, we want to remind you of some things to keep in mind about your Health Savings Account (HSA) at tax time.
When you participate in a Health Savings Account (HSA) and/or Flexible Spending Account (FSA), you’re able to contribute pre-tax funds for use on hundreds of eligible expenses. Recently, you gained even more flexibility in your ability to save when the CARES Act was signed into law.
Health Savings Accounts (HSAs) are a savings and investment go-to account for healthcare consumers. But it wasn’t always that way. HSAs have only been around since 2004. Because these accounts are so new, employers and employees are still developing habits on how they engage with them. The trends can shift quickly. We wanted to share with you five key industry statistics from the Devenir Research 2019 Year-End HSA Market Statistics and Trends Report, which was released recently.
At 24HourFlex, we believe that if you're not growing, you're dying and we take that very seriously. This is a theme you'll find throughout our organization and technology is no exception. Our robust mobile application and consumer portal is constantly updating and improving to make our consumers' lives easier and their health spending accounts manageable.
Health Spending Accounts are confusing! The IRS has so many rules! Sometimes it’s hard to figure out what you can use your funds on, and what you cannot. With medicine and law ever-changing, and the rising tensions related to healthcare coverage, questions are inevitable. We’ve tallied up the Top 5 Frequently Asked Questions of 2019 and answered them.
24HourFlex has expanded our growing list of 130+ vendor integrations and partnered with Employee Navigator’s powerful Benefits Administration solution to deliver an end-to-end, integrated experience for brokers, employers, and employees. Employee Navigator provides a simpler way to quickly enroll new hires, manage contribution levels, and compare and select plans. With this integration, you can have top, integrated payroll and benefits administration technology through Employee Navigator's efficient and streamlined approach.
If a lot of Christmas movies seem to be fueled by injuries, property damage and other mishaps and disasters, maybe it’s just art imitating life. Ladders, ice, saws, electric lights and dangling mdecorations lead to a few hundred real-life Clark Griswold–style Christmas injuries every year. So be careful out there, use your common sense, and keep contributing to your health savings account (HSA). It could come in handy in all sorts of unexpected seasonal ways—in fact, we found six instances where having funds socked away in an HSA may have made Christmas a bit merrier for some of our favorite holiday movie characters: