Not a Member? Get access to HR news and resources that you can trust.
Here is how HR can help prevent the missteps that could cost your company big in court.
Is your employee handbook ready for the changing world of work? With SHRM’s Employee Handbook Builder get peace of mind that your handbook is up-to-date.
60+ new SHRM Seminar dates in 10 U.S. cities and virtually.
Expand your influence and learn how to become an effective leader -- Join us in Phoenix, AZ, October 2-4, 2017.
Health Savings Accounts Growing, Especially Among the Better PaidThe number of people with health savings accounts (HSAs) has ballooned, but higher-income families are much more likely to fund the accounts, according to new research findings that show high-income and older tax filers established and fully funded their HSAs at least four times as often as low-income and younger filers. (New York Times)
HSAs with Invested Assets Are Substantially LargerHSAs in which at least some of the account’s assets were invested in mutual funds were considerably larger than HSAs that kept strictly to money market funds, though relatively few HSA holders are pursuing available investment options. HSAs with investment options also tend to draw larger contributions. (SHRM Online)
More Fodder for HSA vs. HRA DebateA recent report looks at whether HSAs or health reimbursement arrangements (HRAs) are better at holding down health care spending. The takeaway: total medical cost correlates more with plan design (deductibles, out-of-pocket expenses, etc.) than plan type (HRA vs. HSA). That said, HSA customers exhibited more favorable consumerism shopping behavior compared with those in an HRA, and showed a greater decrease in costs than those in HRAs—especially for outpatient services and prescription drug use. (Cigna)
Employee Satisfaction with HSAs and HRAs RisesThe satisfaction gap is narrowing between employees with traditional health insurance plans and those with consumer-driven health plans consisting of high-deductible coverage plus an HSA or HRA, according to the Employee Benefit Research Institute. (SHRM Online)
Groups Urge IRS to Exclude HSAs and HRAs from Excise TaxOne of the most contentious issues regarding the forthcoming excise tax on high-value health plans (the “Cadillac tax”) is the inclusion of employees’ own HSA contributions, when deferred through a standard payroll-deduction cafeteria plan, as part of the taxable value of the benefit. Employer contributions to HSAs and HRAs will also be subject to the tax, if total health care spending is beyond the annual tax threshold. (SHRM Online)
Health Care Consumerism: HSAs versus HRAsA look at how HSAs and HRAs differ in terms of ownership, plan design, funding and portability. (SHRM Online)
For More ResourcesVisit SHRM’s Health Care Resource Page
You have successfully saved this page as a bookmark.
Please confirm that you want to proceed with deleting bookmark.
You have successfully removed bookmark.
Please log in as a SHRM member before saving bookmarks.
Your session has expired. Please log in again before saving bookmarks.
Please purchase a SHRM membership before saving bookmarks.
An error has occurred
Recommended for you
HR Education in a City Near You
SHRM’s HR Vendor Directory contains over 3,200 companies