HealthEquity blog

HSA March Happiness bracket

Posted by HealthEquity on Mar 20, 2019 8:43:00 AM

It’s bracket time!

No, not that bracket, although some of us may fill that one out as well. Here at HealthEquity we’re more excited about our HSA March Happiness Bracket.

We’ve taken 16 benefits of HSAs (our Savvy Sixteen, if you will) and placed them in a bracket so you can decide which HSA benefit you appreciate the most.

Share this with your friends, family and co-workers so they can fill out the bracket as well. The winning benefit they choose may be different than the one you choose. And that’s okay, because unlike that other bracket you fill out this month, you can’t lose with the Savvy Sixteen.

Download and complete your bracket here.

 

 

 

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Topics: HSA, HSA questions, HSA benefits

How millennials can use HSAs to balance life and work

Posted by HealthEquity on Feb 28, 2019 8:33:00 AM

A 2016 survey by Deloitte found that Millennials (those born between 1981 and 1997) “value work/life balance higher than any other job characteristic.” While the definition of “work/life balance” may mean different things to different people, one millennial in a Forbes article said, “It’s about my life goals aligning with my work goals so I focus on doing what I enjoy the most.”

Striking that balance between work and other pursuits can be tricky, but the good news is that a health savings account (HSA) can be a way for millennial employees to manage the balance between their work and personal lives, both now and in the future. 

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Topics: HSA, HSA questions, millennials

HSAs and last-minute 2018 tax deductions

Posted by HealthEquity on Feb 14, 2019 8:27:00 AM

“In this world nothing can be said to be certain, except death and taxes.” – Benjamin Franklin

Historically, April 15 isn’t the best day. Abraham Lincoln died on April 15, 1865. The Titanic sank on April 15, 1912.

And, of course, April 15 is usually Tax Day in the United States — the day when individual income tax returns are due to be submitted to federal and state governments. This reason alone makes April 15 a day that many Americans dread.

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 health savings account (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.

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Topics: HSA, tax savings, HSA questions, HSA spending

Being savvy with HSAs and consumer driven healthcare (CDH)

Posted by HealthEquity on Jan 31, 2019 8:18:00 AM

One of the best ways to talk to your employees about how they can save money on healthcare expenses is to pose a hypothetical situation like the following:

Ask them to think about the last time they purchased a car. Did they go to any random dealership and purchase the first car they saw? While it is possible that some people purchase cars that way, the much savvier approach is for consumers to list the needs they have when it comes to a car, research the best prices and places to buy, then go to the dealership and purchase the car. This approach allows them to save money while still getting the best car that fits their needs.

Now, take the hypothetical situation and compare it to healthcare. While choosing healthcare options may not be as simple as purchasing a car, consumers (i.e. your employees) have more options than they might think when it comes to deciding how they spend their healthcare funds — especially if they have a health savings account (HSA).   

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Topics: HSA, Employers, tax savings, HSA questions, HSA spending

How to position consumer directed healthcare and HSAs with your employees

Posted by HealthEquity on Jan 24, 2019 8:07:00 AM

For employers, there has been a monumental shift in the healthcare marketplace from higher cost, traditional plans to high deductible or consumer directed health plans (CDHP). Between 2007 and 2018, CDHP adoption has increased 264%. CDHPs and health savings accounts (HSAs) allow employers to save on premium costs and taxes while empowering employees to become more educated and involved in their healthcare decision making.

As these plans continue to grow in popularity, adoption and implementation, it’s important for employers to properly position CDHPs and HSAs with employees. With so much misinformation around, employees may be confused and apprehensive about enrolling in these types of plans. Here are a few ways to help your employees embrace consumer directed health plans.

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Topics: HSA, Employers, HSA investing, tax savings, HSA questions

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