The IRS announced last year that health savings account (HSA) contribution limits have increased for 2019, giving you and your employees the chance to save more than ever.
As a response to rising inflation, the contribution limits into savings vehicles like IRAs, 401(k)s, and HSAs can rise from year to year. And given the fantastic triple tax advantages1 that an HSA offers, 2019 is the year to encourage your employees to contribute the full amount to their HSAs.
Topics: HSA, HSA contributions, HSA contribution limit
It’s official. The IRS has just announced that for 2019, individuals can contribute $2,700 to their FSA. That is an increase from the 2018 limit of $2,650. The FSA increase also applies to limited-purpose FSAs (LPFSA) that is limited to vision and dental services, which can be used in cooperation with a health savings account (HSA).
An FSA empowers employees to pay for qualified medical expenses with pre-tax funds. FSAs are popular accounts because of the tax benefits they provide to employees and to their employers.
Topics: HSA, tax savings, Employers, HSA contributions, FSA, FSA contribution limit
In a previous post we revealed some fees that may be lurking in an HSA. In this post we’ll go a step beyond and explore what fees reveal about your HSA provider and their motivations.
Michael Kitces, director of financial planning at Pinnacle Advisory Group Inc. stated in a recent Wall Street Journal article, that HSAs are, “..the most tax-preferred account available. Using one to save for retirement medical expenses is a better strategy than using retirement accounts.”
Topics: HSA, HSA fees, HSA questions, Fees, HSA investing
For some people, the costs of healthcare are manageable at their present income level. However, for a growing number of individuals in the U.S., the cost of healthcare has become overwhelming and utterly unaffordable. For example:
Topics: HSA, HSA questions, tax savings, HSA policy
Once upon a noon day napping, with my co-workers making a constant yapping,
Over oft-discussed matters of weather and how their team played the night before —
While I drifted, not quite sleeping, suddenly there came a knocking,
And I heard a quiet opening, an opening of my office door.
“Tis some co-worker,” I mumbled, “interrupting my lunchtime rest—
Only this and nothing more.”
Topics: HSA, tax savings, Employers, HSA contributions, Open Enrollment
