HSA News for June 16, 2025
HSA news is compiled weekly by Mr. HSA, Roy Ramthun.
News from Washington
IRS Announces Tax Relief for Taxpayers Impacted by Severe Storms, Straight-line Winds, Tornadoes, and Wildfires in Missouri; Various Deadlines Postponed to November 3
The IRS announced tax relief for individuals and businesses in parts of Missouri that were affected by severe storms, straight-line winds, tornadoes, and wildfires that began on March 14, 2025. These taxpayers now have until November 3, 2025, to file various federal individual and business tax returns, make tax payments, and make 2024 contributions to IRAs and HSAs.
IRS Announces Tax Relief for Taxpayers Impacted by Wildfires and Straight-line Winds in Oklahoma; Various Deadlines Postponed to November 3
The IRS announced tax relief for individuals and businesses in parts of Oklahoma that were affected by wildfires and straight-line winds that began on March 14, 2025. These taxpayers now have until November 3, 2025, to file various federal individual and business tax returns, make tax payments, and make 2024 contributions to IRAs and HSAs.
IRS Announces Tax Relief for Taxpayers Impacted by Severe Storms, Straight-line Winds, Tornadoes, and Flooding in Mississippi; Various Deadlines Postponed to November 3
The IRS announced tax relief for individuals and businesses in parts of Mississippi that were affected by several storms, straight-line winds, tornadoes, and flooding that began on March 14, 2025. These taxpayers now have until November 3, 2025, to file various federal individual and business tax returns, make tax payments, and make 2024 contributions to IRAs and HSAs.
IRS Announces Tax Relief for Taxpayers Impacted by Severe Storms and Flooding in Texas; Various Deadlines Postponed to November 3
The IRS announced tax relief for individuals and businesses in parts of Texas that were affected by several storms and flooding that began on March 26, 2025. These taxpayers now have until November 3, 2025, to file various federal individual and business tax returns, make tax payments, and make 2024 contributions to IRAs and HSAs.
HSA Studies & Analysis
EBRI: HSA Account Balances, and Withdrawals, Rise in 2023
Despite withdrawals by some, and in the midst of increased spending on healthcare needs, HSA balances grew over the course of 2023, with average end-of-year HSA balances higher than beginning-of-year balances, according to a new report by the Employee Benefit Research Institute.
Compliance Corner
How to Navigate the Part A Six-Month Retro Rule and Final HSA Contributions
If you enroll on Medicare when you are first eligible (e.g., the first day of the month of your 65th birthday), you face no retroactive coverage. If you enroll on Part A six or more months after the month that you turn age 65, your coverage goes retroactive six months. Yet, that is how Medicare Part A coverage works, and it is a major problem for owners of Health Savings Accounts who continue to add to their balances until they enroll in Part A.
HSA Industry News
Health Savings Account Sales Fall 23% at Big HSA Provider
A softer economy hurt sales of new health savings accounts at HealthEquity earlier this year, but executives hope cost-cutting pressure on employers could eventually increase HSA sales. CEO Scott Cutler sees economic downturns as a good time for persuading employers to offer a high-deductible health plan along with an HSA, or to replace an existing option with a program that makes a high-deductible plan the only plan.
Gusto Partners with Elevate to Enhance Consumer Benefit Account Offerings
Elevate announced a partnership with Gusto to offer enhanced HSAs, FSAs, and commuter benefits to small business customers. Elevate and Gusto have created a portal for benefits plan participants, have built automated integrations for streamlined plan setup, onboarding, and enrollment, and have transitioned existing accounts to the new platform.
HSAs & Retirement
How To Keep Long-Term-Care Costs From Derailing Retirement Plans
As the population ages, demand for long-term care will almost certainly rise, too, and it won’t come cheap. Advisors who fail to account for the potential drain on retirement outcomes are distorting their projections, experts warn, and setting their clients up for failure. HSAs are one of several options that can help.
Maximizing Your HSA
Most Tax-Advantaged Account Require Income to Contribute. What about Disability?
I’m disabled and have no earned income. Can I open and fund an HSA? Yes, if you satisfy all the eligibility requirements. You do not have to be healthy, able to work, or active at work to be HSA-eligible. Eligibility isn’t contingent on your being an employee, in contrast with participation in a Health FSA, Health Reimbursement Arrangement, or 401(k) plan.
Consumer-Driven Health Care
13 Ways to Save Money on Your Health Care
This might be a good time to start thinking hard about what you’re spending on medical care, but change can be hard. Here are 13 strategies for getting the most from your health care coverage without breaking the bank.
Breaking Down Healthcare Costs: What Employees Need to Know About Price Transparency
Navigating healthcare costs can often feel like trying to read a bill written in another language. Understanding what you owe and why can be overwhelming. By taking advantage of price transparency, employees can become more confident consumers, ensuring they receive the care they need at a price that makes sense for their budget.
These 11 Telehealth Services Make Virtual Healthcare Feel Easy
Whether you’re looking for support with everyday health concerns, mental wellness, nutrition, or more sensitive topics, there’s likely a virtual platform designed to meet your needs. Telehealth is no longer a one-size-fits-all solution. So, if you need a quick check-in, long-term care, or something in between, keep reading.