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A summary of the articles included in the December 2020 edition:
- Jellyvision and HSA Bank Launch ALEX HSA to Increase Education and Savings
- Decoupling: What is it, and how could it reshape American health care?
- 5 HSA Benefits You Might Not Know About
- HSAs and Domestic Partners
- Trends in HSA Balances, Contributions, Distributions, and Investments, 2011-2019: Estimates From the EBRI HSA Database
- Employees Still Perplexed by HSA Plans During Open Enrollment
Jellyvision and HSA Bank Launch ALEX HSA to Increase Education and Savings
Jellyvision and HSA Bank, announced the official launch of ALEX HSA, a new type of HSA empowering employees to make smart healthcare and savings choices year-round. ALEX HSA aims to address these challenges by pairing HSA Bank’s world-class suite of account solutions, including HSAs, FSAs, HRAs, Commuter Benefits and COBRA accounts- with Jellyvision’s benefits education expertise.
Decoupling: What is it, and how could it reshape American health care?
The COVID-19 pandemic is reshaping our notions of work, health, education, racial disparity and personal freedoms-all issues long overdue for change. The most lasting and important impact we might see when we’re on the other side of the pandemic could include a major reset of our employer-sponsored health insurance system. And the tip of the spear in that transformation is something that you may not have heard before but that has gained incredible momentum in Washington, D.C. over the spring and summer: decoupling.
5 HSA Benefits You Might Not Know About
Health savings accounts are an often-misunderstood and overlooked opportunity for American workers. Here’s why they are worth a close look during this year’s open enrollment period.
HSAs and Domestic Partners
How do the HSA rules apply to an employee who covers a domestic partner under the HDHP? The short answer is the employee will have the standard family HSA contribution limit, but the employee typically will not be able to take tax-free medical distributions from the HSA for the domestic partner’s medical expenses.
Trends in HSA Balances, Contributions, Distributions, and Investments, 2011-2019: Estimates From the EBRI HSA Database
Plan sponsors that wish to introduce or continue offering HSA-eligible health plans as part of their workplace benefit program can benefit from a long-term view of HSA accountholder behaviors. As such, the Employee Benefit Research Institute (EBRI) has undertaken a series of longitudinal studies from its HSA database, examining trends in account balances, individual and employer contributions, distributions, invested assets, and account-owner demographics from 2011-2019.
Employees Still Perplexed by HSA Plans During Open Enrollment
Employees often don’t know how to use HSAs and the HDHPs the accounts are coupled with. This leads some to bypass an HSA option during their employer’s annual open-enrollment period, while others who enroll in HSA-eligible plans often fail to take full advantage of them. Approximately 1 in 3 adults enrolled in an HDHP haven’t opened an HSA, according to a national survey of 1,637 respondents.