A survey of 1,000 randomly selected U.S. Adults was conducted to gauge physical and financial health decisions across the U.S. Rising healthcare cost, and the short-term financial impact from COVID-19, have reinforced healthcare as a top priority for employees. Read the full report.
In response to findings from the 2020 HSA Spend Report, Lively gathered a panel of experts to guide employers and brokers through HSA spending trends amidst the pandemic, regulatory changes affecting HSAs and FSAs, and the ways that an HSA and qualifying health plan can lower healthcare costs, increase benefits satisfaction, and address benefits instability. We also offered recommendations for preparing and adapting 2022 benefits packages according to recent healthcare trends.
As your company begins discussing its 2022 health plan benefits mix, the 2021 Employer's HSA Guide will serve as an indispensable resource. Inside, find all the HSA fundamentals, industry market trends, regulatory changes that have emerged since COVID-19, time-saving HR resources, and so much more. Just the right amount of information—without overwhelming.
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COVID-19’s influence on 2020 HSA spending and healthcare costs was significant. Even with so much uncertainty and change, one element remained steady in 2020—Americans continued to use their HSA how it was intended: for standard, yearly medical expenses. 86% of annual HSA spending is being used for expected costs and routine visits.
On December 27th, 2020, President Trump signed the Consolidated Appropriations Act into law. This law has several budget line items, but the important part is how it affects employers who currently offer any kind of Flexible Spending Account (FSA). If your company offers or has offered any type of FSA (Health, Limited Purpose, and Dependent Care) in 2020, take a look at this article to see how this law affects you.
Small business owners are always looking for ways to maximize benefits while minimizing cost for both themselves and their employees. What you might not know is that your company legal structure, and ownership stake, might impact your HSA contributions.
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.