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2020 HSA Contribution Deadline Pushes for Second Year

Benefit Resource Inc.

What does this mean for the 2020 HSA contribution deadline? What is the 2020 tax filing deadline? First, the Federal Tax filing deadline was extended from April 15, 2021, to May 17, 2021 for the 2020 tax year. 2020 Contribution Limits. Single Coverage. Family Coverage. Learn more on HSA contribution limits.

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2020 HSA contribution limits

PeopleKeep

A health savings account (HSA) is a tax-advantaged savings account a family or individual can use to pay for qualified medical expenses. HSAs are paired with a high-deductible health plan (HDHP) and have an annual contribution limit.

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5 benefits trends to watch in 2020

Benefit Resource Inc.

Health Reimbursement Accounts: The White House projects that HRAs will ultimately be offered to 11 million employees, with a net gain in health coverage for 800,000 Americans. American Future Healthcare Act: Provides various enhancements to make health savings accounts more accessible and easier to use.

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Leap year! How to handle 27 biweekly payrolls in 2020

Business Management Daily

1 payday back into 2020, you’d still have 27 biweekly pay periods, this time in 2021. Best practice: List all benefits and deductions to determine whether they’re impacted: Medical, dental, life, vision, group-term life insurance, long-term disability, dependent care, flexible spending accounts and health savings accounts.

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How the Next Executive Order Could and Should End Employer-based Health Insurance by 2023

Joe Markland

Over the past 6 years I have published several articles on the need to personalize health insurance (and get the employer out of the way) by making an individual insurance policy tax deductible. Employers are forcing employees to pay more for health insurance leaving less money to pay for actual health care.

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3 questions employees should ask before Open Enrollment 2020

Benefit Resource Inc.

Healthcare is complicated, so how can you get the most out of Open Enrollment 2020? These are general guidelines to give you a basic understanding of your healthcare expenses from the past year and guide your decisions for Open Enrollment 2020. Pro-tip: Save more by pairing a Health Savings Account with a low-premium plan.

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How much should I contribute to my HSA?

WEX Inc.

How much should I contribute to my health savings account (HSA) each month? If you’re covered by an HSA-eligible health plan (or high-deductible health plan ), the IRS allows you to put as much as $3,650 per year (in 2022) into your health savings account (HSA). What is an HSA?