Why is my hospital bill not eligible?
While tax advantaged health accounts have many benefits, they can present challenges. One of the largest pain points for many users of these accounts is determining what the account can pay for. The items or services that can be purchased through the account are known as “eligible expenses” (sometimes called “qualified expenses”). One would think […]
3 Ways to Survive Your Company’s Benefits Enrollment
I just got my first email from our company about our upcoming Open Enrollment sessions, and I have to tell you, I wasn’t as excited as I thought I’d be. It was a little disappointing. But it made me think: What are the things I want to hear before Open Enrollment? In a perfect world, probably […]
Credit Card Security: 5 Quick Tips
These five tips will help to keep your credit card information safe. Keep your account number private Avoid sharing your credit card account number details with untrusted parties Do not give your account number to unverified representatives over the phone Don’t share your account number on insecure websites (look for https – the “s” stands […]
Which solution(s) should I choose? Comparing FSAs, HSAs and HRAs
Remember the old saying “There’s an app for that?” In the case of pre-tax benefits, we like to say “There’s a plan for that”. Regardless of your benefits problem, by comparing Flexible Spending Accounts, Health Savings Accounts and Health Reimbursement Accounts, you can find the right plan to fit your needs. Congress has developed a variety […]
The Perfect Recipe for Your Pre-tax Benefit Account Program
There is a saying that goes, “If there’s a recipe for success in life, it starts with picking the right ingredients”. Building the perfect recipe for your pre-tax benefit account program is just that — picking the right ingredients. There are many people that believe you must choose—FSA vs. HSA. We would like to challenge […]
Selecting the right funding options
It’s time to talk funding. Given that “fun” is built into the topic, what could be more exhilarating than a good analysis of funding options? We will try to keep our excitement to a reasonable level as we explore all the “fun” options employers have when funding their pre-tax benefit accounts. DECISION 1: How are the […]
The HR playlist to power through benefits enrollment
As you’re diving headlong into benefits enrollment season, power through with some classic tunes from our Benefits Enrollment Playlist. As you’re getting started Under Pressure, Queen We know you can feel like the people in the first 30 seconds of the video. Especially those black and white clips. It’s okay. But if you start to […]
Three steps for smooth benefits implementation
September through January is benefits implementation season for many human resources personnel. It can be a lot of moving pieces all at once. However, the administrator you’re working with should help you decide which options will work best for your company and employees based on the needs you’ve expressed. A “one-size fits all” approach doesn’t work […]
HRA Mutations: What do the new HRA rules say?
Health Reimbursement Accounts (HRAs) are a mystical creature, some might even call them the “Griffin of account-based plans“. (OK, in full disclosure, no one ever called them that until right now. However, humor us.) If you haven’t kept up on your mystical creatures, the History channel, describes a Griffin as “an intimidating blend of two […]
HRA or HSA? Which account is it?
HRA or HSA? It seems like a simple enough question. But, Health Reimbursement Accounts (HRAs) and Health Savings Accounts (HSAs) prove to be a little mind boggling for people. Many people overlook the key benefits, or confuse HRAs and HSAs with FSAs. For the most part, people tend to understand Medical FSAs. With a Medical […]
First-time HRA Account? How to avoid over-utilization and misuse
Let’s get real for a few moments. Health Reimbursement Accounts all start with the best of intentions. Then, someone gets this crazy idea: “What if the HRA Account only pays expenses incurred when the sun was shining and stars aligned. We could save so much money!” That’s a good time to pump the brakes. As […]
Talking Trends: Telehealth in 2019
This Forbes article from January cites that only 17 percent of the US population has used telehealth. That’s surprisingly low, given that more than half of hospitals in the US offer telehealth services. Furthermore, 77% of patients admit they would prefer a doctor who offers telemedicine. Finally, almost every state* in the US offers coverage […]
3 ingredients you need for successful plan reconciliation
Plan reconciliation can seem complicated at first glance. To help improve your understanding of it, this post breaks down the three ingredients that make up plan reconciliation: Who it impacts How it works When it happens (timeline) Who it impacts Plan reconciliation impacts employers. Various groups of people, from Human Resources to finance, can have […]
5 Most Read Blogs of 2018
They’re here. The five most read blogs of 2018. You (and our web analytics) picked them. We just compiled them. How Do HRAs Work? Health Reimbursement Accounts can be a bit of a mystery. This post sought to uncover their nuances by answering three questions: What is an HRA? How do HRAs work? What are […]
Were you “sniffed” this year?
We all know at a fundamental level that discrimination is a bad thing. So, non-discrimination testing must naturally exist to verify that you are not discriminating against employees. First reactions might be…”Non-discrimination testing? We don’t need that. We treat all employees the same regardless of gender, race or other protected classes.” Unfortunately, when it comes […]
Two Truths and a Lie, Pre-Tax Benefits Style
If you took the BRight Ideas quiz from Benefit Resource this year, you may already know the answer to these questions. Haven’t taken the quiz yet? Take it here. If you’ve never played the game Two Truths and a Lie, the premise is simple. You are presented with three statements- two are true and one […]
Best practices to keep your HRA plan design simple (but impactful)
For employers looking to keep healthcare costs low, a Health Reimbursement Account (HRA) is one of the best solutions. These tax-advantaged accounts provide employers with a way to manage health care expenses while also helping employees curb medical costs. Use these best practices to keep your HRA plan design simple (but impactful). Set a goal. […]
The Basics of a Consumer-Driven Health Plan
Consumer–Driven Health Plan (CDHP): What does it really mean? There are certainly a number of interpretations or definitions of a Consumer-Driven Health Plan. The reality is that it isn’t any one thing, but a movement to give employees and individuals a more active role in paying for their medical expenses. The most common interpretation of a […]
HSA Teaser or The Future?
Recently, there was a little excitement in the pre-tax benefits world as the House approved two bills (H.R. 6199 and H.R. 6311) that would expand and strengthen health savings accounts (and other pre-tax health accounts). These bipartisan bills provide common sense solutions to address the availability and use of HSAs and other pre-tax health accounts. […]
A winning combination– An HSA and Post-deductible HRA (Part Two)
In part one, we discussed what makes a pre-tax account HSA-compatible. This post takes it the next step and answers the “why” question. Why consider an HSA with a Post-deductible HRA? Setting the Scene Meet Tim! He owns Tim’s Electrical and employs 30 full-time employees. Tim has a core group of 10 employees that have […]
HSAs and Pre-tax Benefits: What is HSA-compatible? (Part One)
So you think you have it all figured out. You’re going with the HSA. Wait, was it the HRA? Or, maybe it was an FSA. No, it was definitely the Health Savings Account—HSA. But then someone starts talking about all of the HSA-compatible account options you have. The choices can be overwhelming and the desire […]
How do HRAs Work? 5 Surprising Facts
Do you have a Health Reimbursement Account? (Also referred to as a Health Reimbursement Arrangement or HRA). If so, you may have asked yourself “How do HRAs work?” As out-of-pocket expenses rise for employees, an HRA provides a great opportunity for employers to cushion the increase. According to the 2017 Employer Health Benefits Survey released […]
Negotiating Your Healthcare Bills
You’ve opened the mailbox and you see a hospital bill. You know the one, the one that says you owe $3,258.29. Or is it $2,450.39? It’s no secret that medical billing is confusing, an entire degree dedicated to it. The good news is, paying a medical bill is not like buying a drink at the […]
History of Pre-tax Employee Benefits
Pre-tax employee benefits serve as a smart and easy way for workers to save money. However, they haven’t always been a component of employee benefit plans. In fact, pre-tax benefits, such as Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs) and commuter benefits, only emerged a relatively short time ago. No one person can take […]
