Headlines about "Health reimbursement accounts (HRAs)"
Gathered from the web by the editors at BenefitsLink.com.
Consumer-Directed Health Plans Shown to Be Money-Savers
"A large study of the medical spending patterns of consumer-directed health plan enrollees, published in the May Health Affairs, found that CDHP enrollees did indeed spend less on care, saving them and their employers money. But the declines were not restricted to unnecessary and redundant tests. The drop also was due to fewer preventive tests and screenings." (American Medical Association)
[Guidance Overview] Whether or Not Constitutional, ACA Is Creating Turbulent Times for HSAs and HRAs (PDF)
At page 4. "Health savings accounts (HSAs) avoid many of the regulatory requirements under the ACA because they are not generally considered to be health plan coverage. By way of direct regulation, the ACA did increase the penalty for using HSA funds for non-medical purposes to a 20 percent excise tax (plus applicable income taxes) and requires a prescription for OTC drugs. More dramatically, however, is the potential for collateral damage to HSA viability as a result of ACA's regulation of the underlying high deductible health plan (HDHP) coverage, especially in the fully insured market. Some of this concern has been allayed recently when the agencies indicated that a portion of an employer's contribution (but not salary reductions) to an HSA could count toward the actuarial valuation requirements for the underlying HDHP plans." (Employers Council on Flexible Compensation)
15 Features to Expect from Your HRA Administration Software Provider
"The Employer should be automatically protected and the HRA administration made HIPAA Compliant through technology rather than the training of [your] employees. For example, employers should not be able to view HIPAA-protected employee information, and HRAs reimbursing for personal health policy premiums should automatically follow Department of Labor HIPAA and ERISA guidelines for employers allowing insurers access to their employees." (Zane Benefits)
Hearing Advisory: Impact of Limitations on Use of Tax-Advantaged Accounts for the Purchase of Over-the-Counter Medication
"Chairman of the Subcommittee on Oversight of the Committee on Ways and Means, [announced the Subcommittee will hold a hearing April 25, 2012,] on limitations on the purchase of over-the-counter ... medication with tax-advantaged accounts such as health care Flexible Spending Arrangements ..., Health Savings Accounts ... and Health Reimbursement Accounts[.]" (U.S. House of Representatives, Committee on Ways and Means)
Pros and Cons of Health Savings and Medical Reimbursement Accounts
"HSAs offer a significant annual tax deduction (up to $7,250 in 2012 for an individual over 55 who opts for family coverage), making them particularly appealing to individuals in higher tax brackets. Withdrawals for qualifying health care costs (including ling-term care insurance) are tax free. Investment income in HSAs also is tax free." (Business Journal)
Where Do HRAs Stand after PPACA?
"The table [in the article] summarizes where the various types of HRAs stand after PPACA[.]" (Faegre Baker Daniels)
[Opinion] Over-the-Counter (OTC) Medicine Saves Healthcare System Billions
"[T]he study findings underscore the importance of reversing a provision in the 2010 Affordable Care Act (ACA) that prohibits consumers from using their flexible spending arrangements (FSAs) to purchase OTC medicines without first getting a prescription. At the time this provision was enacted, an estimated 19 million working American families purchased OTC medicines, relying on these accessible and affordable medicines to keep their families healthy." (Consumer Healthcare Products Association)
Patients in Consumer-Driven Health Plans Show More Cost-Conscious Behavior (PDF)
"[T]hose in [consumer-driven health plans] were more likely to say they had checked whether their plan would cover care; asked for a generic drug instead of a brand name drug; talked to their doctor about treatment options and costs; talked to their doctor about prescription drug options and costs; developed a budget to manage health care expenses; checked a price of service before getting care; and used an online cost-tracking tool." (Employee Benefit Research Institute)
IRS 2011 Version of Publication 969 on HSAs, HRAs, Health FSAs, and MSAs
"Publication 969 provides a convenient overview of the basic features of various consumer-driven health care vehicles without getting into too much detail." (Thomson Reuters/EBIA)
IRS Issues 2011 Versions of Publications on Medical and Dental Expenses and on Child and Dependent Care Expenses
"Pub. 502 provides valuable guidance on what qualifies as a medical expense under Code ? 213(d), and thus, helps identify the expenses that may be reimbursed or paid by health FSAs, HSAs, or HRAs." (Thomson Reuters/EBIA)
Health Savings Accounts and Health Reimbursement Arrangements: Assets, Account Balances, and Rollovers, 2006?2011 (PDF)
"Account-based health plans continued to grow in 2011, increasing to $12.4 billion in assets among 8.4 million accounts . . . ." (Employee Benefit Research Institute)
[Guidance Overview] San Francisco Health Care Security Ordinance: New Notice Obligations
Free recorded 2-hour webcast. Topics include: [i] Overview of the San Francisco Health Care Security Ordinance requirements and enforcement; [ii] New notice obligations and surcharge rules; [iii] Administering the 'rolling 24-month carryover' and other HRA requirements; [iv] Compliance options and plan designs that work with federal health care reform; [v] Possibility of ERISA preemption. (Nixon Peabody)
[Guidance Overview] San Francisco's New Rules on Health Reimbursement Arrangements
"The City and County of San Francisco Labor Standards Enforcement department has published the full law, highlighting the most recent changes, as well as sample contribution and separation of employment forms." (Business Insurance)
[Guidance Overview] Employers Must Comply with Changes to San Francisco Health Care Mandate Beginning January 1, 2012
"While these changes again raise federal [ERISA] preemption concerns, barring a challenge (which seems unlikely), the Ordinance's new requirements will go into effect. Employers, particularly those using a health reimbursement account plan (HRA) or a health savings account (HSA) plan, should consider compliance preparations with the assistance of legal counsel." (Jackson Lewis LLP)
San Francisco Expands Employer Health Reimbursement Role
"On Jan. 1, employers in San Francisco will have to make sure that employee health reimbursement accounts the city requires them to fund are available to employees for two years, not just one. Amendments to the Health Care Security Ordinance . . . add to the requirements the city already has in place . . . ." (SmartHR)
Companies Go to High-Deductible Health Plans
"In plans where deductibles are covered by a health savings or health reimbursement account, workers have to pay an average deductible of $1,908, a 2011 Kaiser survey showed. Traditional health plans, on average, have deductibles well under $1,000." (USATODAY.com)
San Francisco OKs Compromise on Health Reimbursement Arrangements
"The proposal, unveiled by Malia Cohen, a member of the San Francisco board of supervisors, would require that funds employers contribute to HRAs to satisfy the health care spending law be available for 24 months after the contribution." (Business Insurance)
The links shown above have been gathered from the web by the editors at BenefitsLink.com. Each article's publisher is shown above in parentheses. Opinions expressed in each article are those of the article's publisher, not necessarily those of BenefitsLink.com, Inc. or any web site that displays these headlines in a "frame." You should contact the listed publisher for copyright information about any particular article or to inquire into the right to use the article in any manner.