Health savings accounts saw robust asset growth in 2020, with $82.2 billion in assets held in 30.2 million accounts, according to a survey by consulting firm Devenir. Assets were up 25% from a year ago, while the number of HSAs grew by 6%
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Health savings accounts saw robust asset growth in 2020, with $82.2 billion in assets held in 30.2 million accounts, according to a year-end HSA market survey conducted by consulting firm Devenir.
The Departments of Treasury, Labor, and Health and Human Services on Friday issued a proposed rule to amend the requirements for grandfathered group health plans to preserve their grandfather status while offering new flexibility to make changes to their plan designs.
With concerns growing nationwide about the coronavirus, or COVID-19, pandemic, the IRS has issued guidance confirming that Americans financing their health care with a health savings account can access free COVID-19 testing.
Amid a crowded legislative calendar—including an impeachment trial in the Senate—health care costs remain a top concern for most Americans, wrote Kevin McKechnie, executive director of ABA’s HSA Council, in an op-ed in The Hill.
The American Bankers Association’s Health Savings Account Council today wrote to House Ways and Means Committee leaders urging them to support H.R. 3708, the Primary Care Enhancement Act.
As seniors struggle with healthcare costs, a recent bipartisan bill introduced by Reps. Ami Bera (D-Calif.) and Jason Smith (R-Mo.) would allow greater flexibility by giving them the option to purchase a health savings account, wrote Kevin McKechnie, executive director of ABA’s HSA Council, in an op-ed in The Hill today.
The American Bankers Association’s Health Savings Account Council today applauded the introduction of H.R. 3796, the Health Savings for Seniors Act, a bipartisan bill that would help ease the burden of rising out-of-pocket expenses for seniors on Medicare.
Following an executive order by President Trump, the Treasury Department and IRS today issued guidance expanding the preventative care benefits that may be provided by high-deductible health plans linked to Health Savings Accounts for a range of chronic conditions.
In a comment letter to the FDIC today, ABA advocated for updates to the agency’s…