Health Reimbursement Account

Innovative Health Benefits Company, Gravie, Announces Two New Vice Presidents

Thursday, July 22, 2021 - 6:16pm

MINNEAPOLIS, July 22, 2021 /PRNewswire/ -- Gravie announced today that two industry leaders have joined the growing health benefits company: Tina Armstrong, vice president of operations and compliance, and Mike Lenz, vice president of network management.

Key Points: 
  • MINNEAPOLIS, July 22, 2021 /PRNewswire/ -- Gravie announced today that two industry leaders have joined the growing health benefits company: Tina Armstrong, vice president of operations and compliance, and Mike Lenz, vice president of network management.
  • "Having their expertise as part of our growing team will help Gravie continue to reimagine health benefits and bring new solutions to brokers, employers and members."
  • In her newly created role at Gravie, she will help lead operations and compliance, as well as lead the ICHRA (Individual Coverage Health Reimbursement Arrangement) with Gravie health plan.
  • Gravie has been at the forefront of driving change and improving the healthcare industry by creating innovative employer-sponsored health benefit solutions that put consumers first.

More Employers Opt Out of Traditional Group Health Plans

Wednesday, July 21, 2021 - 1:00pm

In the face of rising health care costs, more employers in Georgia are moving away from offering group health insurance plans and are saving up to 15% in the process.

Key Points: 
  • In the face of rising health care costs, more employers in Georgia are moving away from offering group health insurance plans and are saving up to 15% in the process.
  • Contributing to this trend is the introduction of Individual Coverage Health Reimbursement Arrangements (ICHRAs), a new type of health reimbursement arrangement that helps control employee health care costs and offers more flexibility.
  • Digital platforms such as HRASimple reduce the administrative burdens of managing a group health plan and assist companies in executing an ICHRA.
  • HRASimple is an ICHRA administrator with a powerful web-based platform that reduces the in-house burdens of managing a group health plan.

HRA Council launches to bolster health reimbursement arrangements and advocate for expanded coverage

Friday, May 21, 2021 - 12:00pm

"\nThe goal of the council is to expand coverage by creating a vibrant market for defined contribution models, easing employers\' ability to offer HRAs and employees\' ability to use an HRA to enroll in health coverage.

Key Points: 
  • "\nThe goal of the council is to expand coverage by creating a vibrant market for defined contribution models, easing employers\' ability to offer HRAs and employees\' ability to use an HRA to enroll in health coverage.
  • "\nAccount-based health coverage like ICHRAs and QSEHRAs allow employers to reimburse their employees for health insurance with tax-preferred contributions.
  • "We\'re thrilled to be an inaugural member of the HRA Council and look forward to contributing to this important work.
  • Council membership is open to all and the Council is transparent about its members and mission.\nFounding Members of the HRA Council include:\n'

KindHealth Technology Unleashes Untapped Potential of HRAs

Wednesday, March 3, 2021 - 12:00pm

The newest technology will expand the company's powerful digital savings platform and help employers and consumers take advantage of the untapped potential of their HRAs.

Key Points: 
  • The newest technology will expand the company's powerful digital savings platform and help employers and consumers take advantage of the untapped potential of their HRAs.
  • Soon, the growing number of people with HRAs will have the opportunity to use the convenient technology and learn more about their healthcare options.
  • KindHealth technology currently in development will allow any HRA partner to integrate with the KindHealth platform and use Smart Census or Marketplace Builder products.
  • KindHealth anticipates significant interest in their technology with more employers expected to adopt HRA plans in coming years.

PeopleKeep Releases Its 2021 QSEHRA Annual Report

Tuesday, February 9, 2021 - 2:00pm

SALT LAKE CITY, Feb. 9, 2021 /PRNewswire/ -- PeopleKeep has released its fourth annual usage report on the qualified small employer health reimbursement arrangement (QSEHRA) used by employers with fewer than 50 full-time employees.

Key Points: 
  • SALT LAKE CITY, Feb. 9, 2021 /PRNewswire/ -- PeopleKeep has released its fourth annual usage report on the qualified small employer health reimbursement arrangement (QSEHRA) used by employers with fewer than 50 full-time employees.
  • As the leader in QSEHRA administration software, PeopleKeep is in a unique position to show how small employers across the nationand their employeesuse the health benefit.
  • The smallest employers offer 33% more in allowances compared to the largest employers who are eligible to provide a QSEHRA benefit.
  • And, as employers become more used to the budgetary control and simplicity of a QSEHRA, they increase their allowance amounts year-over-year.

NATP seeks instructors for 2021 tax education events

Monday, December 7, 2020 - 2:00pm

APPLETON, Wis., Dec. 7, 2020 /PRNewswire-PRWeb/ -- The National Association of Tax Professionals (NATP) is now accepting proposals for topics to be delivered during its 2021 annual conference and its virtual 2021 TaxCon event.

Key Points: 
  • APPLETON, Wis., Dec. 7, 2020 /PRNewswire-PRWeb/ -- The National Association of Tax Professionals (NATP) is now accepting proposals for topics to be delivered during its 2021 annual conference and its virtual 2021 TaxCon event.
  • Previous sessions topics at these events include: CARES Act, PPP loans, IRS representation, partnerships, virtual currency, cannabis business, ethics, Section 529 plans, retirement plans, HRAs, FBAR, sharing economy and farm tax.
  • The National Association of Tax Professionals (NATP) is the largest association dedicated to equipping tax professionals with the resources, connections and education they need to provide the highest level of service to their clients.
  • NATP is comprised of more than 22,000 leading tax professionals who believe in a superior standard of ethics and exemplify professional excellence.

HSA Bank Announces Innovative Safety Net Solution through MedPut Partnership

Tuesday, November 17, 2020 - 5:17pm

MedPut is an innovative employee benefit that makes healthcare expenses more manageable for employees.

Key Points: 
  • MedPut is an innovative employee benefit that makes healthcare expenses more manageable for employees.
  • By paying healthcare expenses upfront on employees' behalf, MedPut helps the employee spread the expense out via payroll deductions over time.
  • Through the new partnership with MedPut, HSA Bank gives employees the option to pay for healthcare expenses with their Health Savings Account (HSA), Flexible Spending Account (FSA), or Health Reimbursement Arrangement (HRA), resulting in maximized tax savings.
  • "We're excited to debut our new partnership with MedPut," said Chad Wilkins, President of HSA Bank.

Employers express interest in individual coverage health reimbursement arrangements

Monday, November 16, 2020 - 2:34pm

ARLINGTON, Va., Nov. 16, 2020 (GLOBE NEWSWIRE) -- Individual coverage health reimbursement arrangements (ICHRAs), a new employer-sponsored health care benefit program for active employees that became available this year, are drawing the attention of U.S. employers, particularly wholesale and retail employers and those in education and the public sector.

Key Points: 
  • ARLINGTON, Va., Nov. 16, 2020 (GLOBE NEWSWIRE) -- Individual coverage health reimbursement arrangements (ICHRAs), a new employer-sponsored health care benefit program for active employees that became available this year, are drawing the attention of U.S. employers, particularly wholesale and retail employers and those in education and the public sector.
  • With an ICHRA, employees choose where their medical benefit dollars are spent by purchasing individual insurance coverage and then receiving a reimbursement through an employer-sponsored health reimbursement arrangement.
  • The survey found growing interest in this new benefit as a way for employers to keep their costs fixed by giving employees the opportunity to manage their own health care benefit choices and spend.
  • However, we expect to see interest grow as companies learn more about ICHRAs and the market for individual health plans continues to grow more robust each year.

Jellyvision and HSA Bank Launch ALEX HSA to Increase Education and Savings

Thursday, November 12, 2020 - 3:30pm

CHICAGO, Nov. 12, 2020 /PRNewswire/ -- Today, Jellyvision and HSA Bank , a division of Webster Bank, N.A., announced the official launch of ALEX HSA , a new type of HSA empowering employees to make smart healthcare and savings choices year-round.

Key Points: 
  • CHICAGO, Nov. 12, 2020 /PRNewswire/ -- Today, Jellyvision and HSA Bank , a division of Webster Bank, N.A., announced the official launch of ALEX HSA , a new type of HSA empowering employees to make smart healthcare and savings choices year-round.
  • According to the third annual HSA Bank Health & Wealth IndexSM, 42% of employees didn't know if their healthcare plan was HSA-eligible2.
  • 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.
  • HSA Bank is a trusted leader in consumer-directed healthcare (CDH), focusing on Health Savings Accounts (HSAs) for over two decades and serving as both the bank and administrator.

PeopleKeep Issues Report Following The First Nine Months of the Individual Coverage HRA

Monday, November 2, 2020 - 1:30pm

SALT LAKE CITY, Nov. 2, 2020 /PRNewswire/ --PeopleKeep, the first company to bring automated administration of Individual Coverage HRAs to market, has released its report, The First 9 Months of ICHRA.

Key Points: 
  • SALT LAKE CITY, Nov. 2, 2020 /PRNewswire/ --PeopleKeep, the first company to bring automated administration of Individual Coverage HRAs to market, has released its report, The First 9 Months of ICHRA.
  • The report details how employers throughout the United States have used the new health benefit in the first nine months of its availability based on data analyzed from the PeopleKeep software platform.
  • The new HRA became available January 1, 2020 to employers of all sizes and enables employers to reimburse employees for individual health insurance premiums and out-of-pocket expenses.
  • Unlike the Qualified Small Employer HRA, it satisfies the employer mandate and does not have allowance caps.