On July 19, 2018, the House Rules Committee released two HSA-related bills (Rules Committee Prints 115-82 and 115-83) that re-packaged 10 of the 11 bills approved by the House Ways & Means Committee on July 12 into two separate bills. On July 23, these bills were party-line approved 8-4 by the House Rules Committee, and on July 25, they were adopted by the House of Representatives. Now, the bills will move on to the Senate for consideration later this year.
For years, passwords were the linchpin of security. But in a digital world, they just aren’t enough to hold back the multi-billion dollar tide of payment fraud. Thankfully, the technology needed to power a new wave of frictionless, near-perfect authentication is already widespread.
On July 11, 2018, the House Ways and Means committee will mark up its new bill with two of the four HSA Council-proposed provisions expected to be in play – HSAs for working seniors and increasing contributions to the out-of-pocket maximum.
The vast majority of healthcare data breaches are caused (or exacerbated) by human error. To avoid becoming the next big data breach headline, you’ll need to invest in a combination of strong security policy, preventative technologies, and end user training.
There are plenty of myths surrounding the CDH market. To help dispel some of them, we sat down with WageWorks Chief Compliance Officer, Jody Dietel, who was recently invited to speak in front of the House of Representatives Ways and Means Subcommittee on Health about lowering costs and expanding access to consumer-directed health (CDH) plans.
The consumer-directed healthcare (CDH) industry, represented by the American Bankers Association HSA Council and ECFC, have been busy testifying before House and congressional committees to ignite legislative efforts that make medical coverage more accessible and more affordable to Americans.
By the end of 2019, 72% of large employers will offer a consumer directed health plan (CDHP). But at the same time, only a third of eligible employees are enrolled in CDHPs. So what’s going wrong?
Fraud is, and will continue to be, a major concern for the healthcare industry. But, if we take it seriously, and allocate the resourves necessary to manage it effectively, we can largely prevent it from negatively affecting our customers' account security and user experience.
The US House of Representatives Republican leadership has issued its tax reform proposal. If enacted as written, it would eliminate some CDH products. The bill also includes good news for the industry. This is just a first step in a long tax reform process that will continue at least until the end of the year. Throughout that time, Alegeus and the CDH industry will actively monitoring this process and educate Congress on the important benefits CDH products provide. UPDATE: Read the blog for an update on the provision regarding Dependent Care FSAs.
On October 31st, the IRS released a notice with guidance on Qualified Small Employer Health Reimbursement Arrangements (QSEHRAs). The guidance is provided in the form of questions and answers and details what is needed to establish a QSEHRA, eligibility for QSEHRA, tax consequences, written notices and how QSEHRAs will interact with HSAs. While these are not the final regulations, the notice does provide some clarity on how to establish and manage a QSEHRA program. Two questions that Alegeus and the CDH industry had requested further guidance on from the IRS were what defines an eligible employer and how a QSEHRA interacts with HSAs. The Notice does provide guidance on those questions.