Awards program recognizes leading administrators and health plans for theirsuccesses in the healthcare payments field WALTHAM, Mass. – May 13, 2024 – Alegeus, the market leader in healthcare payment solutions, today announced the recipients of its ninth annual Alegeus Performance Excellence (APEX) Awards. The program recognizes leading administrators and health plans for their successes across categories such as innovation, account growth and partnership excellence. The 2024 APEX winners were honored during the annual Alegeus Partner Success Summit, held this week in Fort Lauderdale, Fla. Partners that earned the award demonstrated strong leadership and achieved exceptional business results using Alegeus technology…. Read More
May 09, 2024 Today, IRS issued Revenue Procedure 2024-25, which provides the 2025 cost-of-living contribution and coverage adjustments for HSAs, as required under Code Section 223(g). For a copy of Revenue Procedure 2024-25, click on the link below: RP-2024-25 (irs.gov) Annual HSA Contribution Amounts 2024 Contribution Limit 2025 Contribution Limit Coverage Type $4,150.00 $4,300.00 Individual $8,300.00 $8,550.00 Family $1,000.00 $1,000.00 Catch-Up Annual Maximum Out-of-Pocket (OOP) Limits for HDHP 2024 OOP Limit 2025 OOP Limit Coverage Type $8,050.00 $8,300.00 Individual $16,100.00 $16,600.00 Family Annual Minimum Deductible Amount Limits for HDHP 2024 Deductible Limit 2025 Deductible Limit Coverage Type $1,600.00 $1,650.00 Individual $3,200.00… Read More
June 16, 2023 IRS released an updated IRS Form 720 a few days ago. Please take note of the following change to the form:Line 133 of the form has been updated to reflect the $2.79 PCORI fee for the plan or policy years ending before October 1, 2022 and $3.00 PCORI fee for plan or policy years ending on or after October 1, 2022 and before October 1, 2023. Many have been waiting for this copy of the form because it will be used for the filing due on July 31, 2023. For a copy of Form 720, click on… Read More
The IRS recently announced a significant increase in HSA contribution limits for 2024. Self-only HSAs will rise to a contribution limit of $4,150 (up from $3,850 for 2023) and family HSAs are rising to $8,300 (up from $7,750). According to the U.S. Bureau of Labor Statistics, U.S. consumer prices rose 4.9% for April, down from the most recent peak of 6.6% for September – an indication that the Federal Reserve’s efforts to stem inflation have had some effect. However, notes Bloomberg, rates remain well above those seen prior to the pandemic, and high prices for everything from gas to housing to groceries… Read More
April 13, 2023 On January 30, 2023, the Biden Administration announced that both the COVID Public Health Emergency and National Emergency would end on May 11, 2023. Despite this, President Biden signed a resolution ending the National Emergency effective as of April 10, 2023. As a result, employers will now have less time to react to the end of the National Emergency, but this does not mean that all COVID coverage mandates or extensions have ended. What Is Ending? The end of the National Emergency brings the end of the “Outbreak Period” that gives additional time for individuals… Read More
