Dec 4, 2020 | Consumer-driven Health Plans, Flexible spending accounts (FSAs), Health Savings Accounts (HSAs), MedBen Access, Online Services
MedBen has partnered with FSA Store and HSA Store, the largest online marketplace for FSA and HSA products. The FSA and HSA Stores: Remove the guesswork of determining if purchase qualifies for reimbursement; Offer a 100% product eligibility guarantee. December 31,...Sep 3, 2020 | Announcements, Compliance, Health Savings Accounts (HSAs), High-Deductible Health Plans (HDHPs), IRS
MedBen Compliance has updated its High Deductible Health Plan (HDHP)/Health Savings Account (HSA) summary to include 2021 IRS guidelines. In 2021, the HDHP minimum required deductible will remain at $1,400 for self-only coverage ($2,800 for family coverage), while the...Jun 9, 2020 | Announcements, Consumer-driven Health Plans, Health Savings Accounts (HSAs), IRS
The IRS recently announced its annual cost-of-living adjustments affecting health savings accounts (HSAs) for calendar year 2021. HSA Contribution Limits – The annual HSA contribution limit for individuals with self-only HDHP coverage increases to $3,600, while the...Apr 7, 2020 | Announcements, Consumer-driven Health Plans, Flexible spending accounts (FSAs), Health reimbursement arrangements (HRAs), Health Savings Accounts (HSAs), News, Over-the-counter (OTC) drugs, Prescription, Regulatory
The CARES Act signed into law by President Trump on March 27 permanently reinstates coverage of over-the-counter (OTC) medications as eligible for reimbursement from FSAs, HRAs and HSAs without need for a prescription. Under the reinstated coverage, account funds can...Apr 5, 2020 | Announcements, Caroline Fraker, Compliance, Consumer-driven Health Plans, Coronavirus, COVID-19, Dependent care assistance plan (DCAP), Family and Medical Leave Act (FMLA), Flexible spending accounts (FSAs), Health reimbursement arrangements (HRAs), Health Savings Accounts (HSAs), High-Deductible Health Plans (HDHPs), Kentucky, News, Ohio, Over-the-counter (OTC) drugs, Prescription, Regulatory, Telemedicine
The COVID-19 pandemic has resulted in a rush of new federal and state laws to address the need for testing and treatment of the coronavirus, in addition to resulting issues from work and child care changes. Many of these rules directly affect MedBen clients, so it’s...Mar 25, 2020 | COVID-19, Government, Health Savings Accounts (HSAs), IRS, News, Uncategorized
As a result of COVID-19, the Internal Revenue Service (IRS) has clarified that the deadline for making health savings account (HSA) and individual retirement account (IRA) contributions for the 2019 tax year has been extended to July 15, 2020. This matches the new...