February 18, 2019
Your Weekly HSA News
Read the latest news about Health Savings Accounts and consumer-driven health care.
News from Washington
Trump Signs Border Deal, Averting Shutdown
President Trump signed a spending package on February 15 to avert another government shutdown. Roughly one-quarter of the federal government, including the Department of Homeland Security, would have shuttered if Trump had not signed the legislation.

Push for Medicare Buy-in Picks Up with '50 and Over' Bill
House and Senate Democrats unveiled a plan February 13 that would allow anyone over age 50 to buy into Medicare — an incremental step to expand health coverage beyond Obamacare's gains that offers an alternative to the ambitious restructuring progressives envision in their push for Medicare for All.

HSA Studies & Analysis
Cost of Medications a Top Concern for HDHP Sponsors
A survey of benefits managers by the Pharmacy Benefit Management Institute finds that many employers have shifted to HDHPs but remain concerned about whether the plans are limiting their employees’ ability to afford critical medication. And yet, employers seem to believe that HDHPs are the least bad option available for the company and its workers.

HSA Compliance Corner
7 Situations When HSA Contributions Can Be Returned: IRS
Certain situations allow for an employer to request the return of HSA contributions it made on behalf of its employees, and the IRS has issued Information Letter 2018-0033, which expands upon the previous guidance regarding the recovery of HSA contributions found in IRS Notice 2008-59.

Can a Subchapter S Corporation’s Owners Make HSA Contributions Through a Cafeteria Plan?
Our company is a Subchapter S corporation. Will our owners be able to make HSA contributions on a pre-tax basis through our cafeteria plan? The short answer is that the owners will not be able to make HSA contributions through your cafeteria plan if they are more-than-2% shareholders.

The HSA Market
Here's What an 'HSA' Is — and Why It's the Ideal Wealth-Building Tool for Millennials
By taking advantage of tax-favored accounts, millennial investors can supercharge their nest eggs. An often overlooked but powerful wealth-building tool is the HSA, an account that is truly tax-free. HSAs are relatively new, so millennials are the first generation uniquely positioned to take advantage of HSAs so early in life.

HSAs & Retirement
Is an HSA a Good Place for My Retirement Savings?
Everyone knows about 401(k)s and IRAs, but there's another vehicle for retirement savings that's been getting a lot of attention lately: HSAs. Here's a closer look at how they work and how you can use an HSA to supplement your retirement savings.

HSAs Are a Triple Tax Break that Can Help Fast Track Retirement Savings
Harness HSAs to help fast track your retirement. Some confuse HSAs with FSAs, but HSAs are simpler and more flexible. And, critically important, they aren’t use-it-or-lose-it. That means growth can compound over time.

How to Use Your HSA for Retirement
Consumers who have HSAs, as well as consumers who are eligible for HSAs but haven’t opened one, are missing out on an incredible option for funding their later years. It’s time to start a new trend.

Using HSAs While on Medicare
I have prescriptions that cost more with the Medicare Insurance than paying cash, so why can’t I use the HSA to pay for prescriptions and for DME with prescriptions? although you can no longer contribute to your HSA, you can still use the money in your HSA to pay medical expenses for you and your spouse after you have enrolled in Medicare.

Maximizing Your HSA
HSAs and Last-Minute 2018 Tax Deductions
While filling out your tax forms may not be the most fun thing to do, there is a silver lining: You can still contribute to your HSA for 2018 before April 15, 2019 (or before you file your taxes, whichever comes first) and count the contribution as a last-minute tax deduction toward your 2018 income tax filing.

HSA Distribution Flexibility
Did you know that you can reimburse next year's qualified expenses tax-free with this year's contributions? And perhaps last year's expenses with next year's contributions? Once you establish an HSA, you can reimburse tax-free any qualified expenses that you incur for the rest of your life regardless of your current HSA balance.

Consumer-Driven Health Care
Record Health Care Spending Driven by Rising Prices, Not Increased Services: Study
Health care spending for individuals who receive employer-sponsored insurance has reached a record high, according to a study released February 12. Spending on health care is increasing because of higher prices, not because people are using more services, according to the study.

Here's a Key Way to Prevent Paying More for Your Health Care Than You Should
With health-care costs continuing to rise and consumers increasingly being asked to pay a greater portion of those expenses, there's a good chance an error will cost you if you don't catch it. In the complicated world of health-care billing, don't make the assumption that a medical bill is right.

It’s Time to Fire Your Doctor
Let’s say you, like me, are one of the 20 million Americans who work for themselves—no boss, but also no corporate-tax deduction for health insurance. The smart move is to get a high-deductible insurance plan. Now it suddenly matters what doctors charge.

Apple Is Getting So Serious About Health, It's Started Hosting Heart-Health Events at Apple Stores
Apple hosted its first health-focused event at its Union Square store in San Francisco on Monday evening. it started with a panel on the topic of heart health and ended with an walk around the block to demonstrate the activity features on the Apple Watch.

Connect with us
Our goal is to provide you with easy to understand information and resources about HSAs. We will help you learn how to best use your account to meet your particular health care and financial needs. We’ll also help you find out what medical expenses can be paid from your HSA and how to choose the best HSA to meet your financial goals.

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