Jun 4, 2024 | Announcements, Consumer-driven Health Plans, FSA Store, Health Savings Accounts (HSAs), HSA Store, News
The IRS has announced its health savings account (HSA) contribution limits for 2025. The annual cost-of-living adjustments include a 3.6% increase in individual HSA contributions. This stands in sharp contrast to 2024, which saw a change of nearly 8% – the biggest...
Mar 28, 2024 | Consumer-driven Health Plans, Flexible spending accounts (FSAs), FSA Store, Health reimbursement arrangements (HRAs), Member engagement, Mobile App, Online Services, Plan members, Substantiation
A flexible spending account (FSA) member can save up to 30% for every dollar they contribute. Likewise, health reimbursement arrangement (HRA) members can greatly lower out-of-pocket costs by using their employer-funded plan to pay for medical expenses. But...
Nov 8, 2023 | Consumer-driven Health Plans, Flexible spending accounts (FSAs), FSA Store, MedBen Access, Mobile App, Online Services
If your plan has a January effective date and you offer a flexible spending account (FSA), please remind your members that December 31, 2023 is the final day they can use their 2023 funds. The best way for FSA members to check their current balances is by visiting...
Sep 28, 2023 | Announcements, Compliance, Consumer-driven Health Plans, Health Savings Accounts (HSAs), High-Deductible Health Plans (HDHPs), IRS, Regulatory
The MedBen Compliance team has updated its High Deductible Health Plan (HDHP)/Health Savings Account (HSA) summary to include 2024 IRS guidelines. In 2024, the HDHP minimum required deductible is $1,600 for self-only coverage ($3,200 for family coverage), while the...
Sep 14, 2023 | Consumer-driven Health Plans, Debit Cards, Flexible spending accounts (FSAs), FSA Store, IRS, Substantiation
Substantiating purchases made with a health flexible spending account (FSA) is crucial for ensuring eligibility for pre-tax status…so much so, that earlier this year the IRS released a memorandum stressing its importance. To make the process as straightforward...
Jul 19, 2023 | Consumer-driven Health Plans, Flexible spending accounts (FSAs), FSA Store, MedBen Access, Mobile App, Online Services
Hard though it may be to believe, we’re more than halfway through 2023. For flexible spending account (FSA) users, it’s an opportune time to check balances and stock up on summer supplies that can be purchased with FSA funds. FSA Store offers a variety of...
