If you set financial and mental health goals for this year, this post will help you conduct a mid-year check-in and make any necessary changes. Employers will also find ways to help employees achieve their financial and mental wellness goals so that they’re less stressed and more productive at work.
On May 16, 2023 the Internal Revenue Service announced the HSA contribution limits for 2024. For 2024 HSA-eligible account holders are allowed to contribute: $4,150 for individual coverage and $8,300 for family coverage. If you are 55 years or older, you’re still eligible to contribute an extra $1,000 catch-up contribution.
HSAs can be a power savings tool that helps women to save on costs, bolster their retirement savings, and improve their financial security.
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COBRA, which stands for Consolidated Omnibus Budget Reconciliation Act of 1985, is most commonly known by its acronym. Perhaps because of this, it can sometimes be confused with an actual health plan. However, COBRA is a set of regulations that requires employers to extend access to their existing group health insurance (as well as dental and vision insurance and a few other benefits) to eligible individuals.
Lifestyle Spending Accounts (LSAs) are employer-funded accounts that provide a taxable cash benefit to employees. Typically, employers offer this benefit as a way to help employees pay for everyday life expenses like gym memberships and wellness apps by reimbursing them up to a pre-designated amount.
Lively recently hit a huge milestone: We now have over $1 billion in HSA assets on our platform. A huge number, yes, but one that is meaningful to us, and our account holders, for a few different reasons.
Disclaimer: the content presented in this article are for informational purposes only, and is not, and must not be considered tax, investment, legal, accounting or financial planning advice, nor a recommendation as to a specific course of action. Investors should consult all available information, including fund prospectuses, and consult with appropriate tax, investment, accounting, legal, and accounting professionals, as appropriate, before making any investment or utilizing any financial planning strategy.