HSA News for September 16, 2019
HSA News is compiled weekly by Mr. HSA, Roy Ramthun.
News from Washington
Poll: Most Democrats Want Presidential Candidate Who Would Build on Obamacare
A majority of Democrats and Democratic-leaning independents said they would prefer to vote for a presidential candidate who wants to build on Obamacare rather than replace it with "Medicare for All," according to a survey released September 12.
Nancy Pelosi Energizes Battle to Lower Drug Prices
A draft proposal by House Speaker Nancy Pelosi would empower the federal government to negotiate lower prices for hundreds of prescription drugs, not only for Medicare but for the private market as well, injecting new urgency into Washington’s efforts to control the soaring price of pharmaceuticals.
HSA Studies & Analysis
Americans Don't Link Health and Wealth, but an HSA Can Help
Americans might need help to understand the connection between wealth and health, according to a recent report from HSA Bank. In fact, the researchers found some disturbing gaps in Americans’ health and personal finance knowledge. Nearly 20% don’t know what kind of health plan they have – 15% couldn’t correctly identify their plan type, and another 3% confused their carrier for their plan type.
HSA Industry News
Lively Launches Android Version of HSA Platform
Lively Inc. has launched an Android version of its HSA mobile app, allowing users to track debit card spend, see balance updates, upload receipts, monitor investments and link directly to bank accounts. Lively previously launched an iOS version which can be used on the iPhone or other iOS devices.
HSA Industry Best Practices
How One HR Pro Uses Data to Increase Benefit Utilization
Benefitfocus saw a 72% adoption rate into its HDHPs during the 2019 open enrollment period, above the national average of 25 to 30%. Additionally, there was a 27% increase in employee contributions to HSAs. How did they do it?
HSAs & Retirement
A Healthcare Tax Cut for Seniors Every Politician Should Love
Under the Health Savings for Seniors Act, a single retiree could contribute $4,550 to an HSA, and a married senior couple could contribute $8,100 to an HSA in 2020. This money would be tax deductible, meaning that seniors would pay that much less tax on Social Security benefits, pension payments, IRA distributions, interest, dividends, and capital gains. Seniors need access to this type of savings to pay for medical costs.
79% of Future Retirees Share This Major Concern
79% of future retirees cite healthcare costs as their top financial concern, according to a new survey by Nationwide. That's why it's crucial to save for healthcare ahead of time, and you have several options in this regard.
3 Retirement Questions You Should Be Able to Answer by Age 40
As you're planning for retirement, you may think you have plenty of time to figure everything out. However, successfully preparing for retirement requires a lifetime of hard work. By the time you turn 40, you should be seriously thinking about retirement -- even if it's still decades away. And to make sure you're on the right track, there are a few questions you should be able to answer.
Maximizing Your HSA
Here’s Why an HSA Might Make Sense for Your Family
While you don’t want to skimp on necessary care, there are ways to cut back your medical bills and to prepare for those years when costs go even higher—now or even decades into the future. One such method is an HSA.
Consumer-Driven Health Care
This App Saves Money on Prescriptions ― and Shows How Messed Up Drug Prices Are
If you’re looking to save money on prescription medicines, there’s a handy website and mobile app that can help you spend less. If America’s pharmaceutical market weren’t so crazy and confusing, it wouldn’t need to exist. Enter the online retail drug discount company GoodRx, which launched in 2011 as a way to show consumers how to get their prescriptions filled at the lowest price.
When Some Patients Don’t Pay, This Hospital Sues
When Donna Hernandez had the flu last year, she went to her local emergency room in New Mexico, where she received two IV bags of saline, a dose of antiviral medication and a drug to help with her nausea. Hernandez recovered from the flu, but still hasn’t recovered from the shock of the bill she received afterward. It was for more than $6,000.