Recent COVID-19 Regulations: Information and Solutions To Help

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The Pandemic’s Effect on Nondiscrimination Testing

December 3rd, 2020

“Pandemic layoffs have disproportionately affected lower-income wage earners. . . Those higher-income employees’ elections now constitute a much larger percentage of the total program, which could flip the plan from compliance to noncompliance.”  William G. (Bill) Stuart Director of Strategy and Compliance December 3, 2020 2020 is the year that has turned many people’s lives.. Read more

Will the New President and Congress Find Common Ground on Healthcare?

November 19th, 2020

“Section 1332 of the ACA gives the Secretary of Health and Human Services broad power to approve state requests to innovate in offering coverage to their populations if the innovations expand coverage and don’t increase costs. The Trump Administration has approved a number of these requests. The Biden Administration is more likely to restrict innovation.. Read more

Accessorizing Your Health Savings Account Program

October 29th, 2020

“A growing number of Health Savings Account owners are building balances to fund qualified expenses in retirement, including Medicare cost-sharing, Medicare premiums, and services (like dental and vision) not covered by Medicare. If they fund a Limited-Purpose Health FSA, they can enjoy the same tax benefits as a withdrawal from a Health Savings Account as.. Read more

Health Savings Accounts Continue to Benefit Owners

October 15th, 2020

“[D]on’t be fooled by the fact that nearly half of all accounts had a balance of less than $500. This is a typical criticism of Health Savings Accounts – that only the wealthy have enough additional income after they’ve paid their bills to fund their accounts. This observation ignores the obvious: This balance figure is.. Read more

ICHRAs Aren’t a Panacea, But They May Help Manage Costs

October 1st, 2020

“With an ICHRA, the company sheds its liability for those high claims. The claims don’t go away. They’re simply shifted from the employer to the nongroup claims pool. Imagine dumping a quart of bleach into a gallon of water and then watering your houseplants. They won’t survive. Dump that same quart of bleach in your.. Read more

A Reform Proposal Built around Health Savings Accounts

September 17th, 2020

“Many economists believe that the [employer] exclusion is a major driver of high premiums, since the federal government taxes a $1 increase in pay but not a $1 increase in medical coverage. That differential tax treatment encourages employees and union members to receive a portion of additional compensation in the form of more benefits (expanded.. Read more

Health Savings Accounts’ Value Heightened during Pandemic

September 3rd, 2020

“If you don’t have a sufficient account balance to reimburse all expenses, find some funds, contribute them to your Health Savings Account (if you’re still eligible and haven’t met your contribution limit), and immediately withdraw the money. Voila – you’ve just reduced your taxable income by the amount of that contribution. You won’t receive the.. Read more

A Very Early Look at the 2020 Election and Healthcare

August 20th, 2020

“If the Democrats do win control of the Senate, they will have won seats in states that aren’t breeding grounds for government activism . . . Democrats who win elections in those states won’t be as eager to increase federal control over medical care as are Democrats from states like California, New York, New Jersey,.. Read more

The Gap between HDHP Enrollees and HSA Owners

August 6th, 2020

“They can match Health Savings Account contributions,  but most don’t adopt this approach. If they matched the first $1,000 of employee contributions rather than giving $1,000 with no restrictions, companies would encourage employees to build their account balances of the inevitable medical, dental, vision, over-the-counter, and premium expenses that they’ll incur in the future –.. Read more

Weighing Coverage Options When You Lose Your Job

July 23rd, 2020

“COBRA continuation doesn’t apply to employees who work for a company with fewer than 20 employees (although some states have passed similar continuation programs to cover workers at small companies). And because COBRA provides continuation of the group plan, if the group plan is terminated (for example, the company goes out of business), there is.. Read more

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