IRS announces changes to 2018 HSA family contribution limits
The IRS has published Internal Revenue Bulletin (IRB) 2018-10 that contains Revenue Procedure (Rev. Proc.) 2018-19.
Effective for calendar year 2018, the family contribution limit for HSAs has been lowered to $6,850 from the previously set amount of $6,900.
To cover the high deductibles, health care spending accounts, such as Health Reimbursement Arrangements (HRAs) and Health Savings Accounts (HSAs), have become increasingly popular during this time. They help individuals and families pay for medical expenses and provide for more control over those expenses, which encourages them to become more informed consumers of health care services and products.
Stop spending and start investing your HSA funds
An often-overlooked benefit of the HSA is its function as an investment tool. HSAs provide more benefits than the traditional Investment Retirement Account (IRA) and can be invested into bank accounts, stocks, bonds, money market funds and mutual funds. Rather than using the HSA solely to pay for medical expenses, participants have the flexibility to choose when and when not to use their HSA dollars. By paying for qualified medical expenses with after-tax dollars, the HSA balance grows tax-free. Many HSA participants elect to pay smaller expenses with after-tax dollars, allowing their balances to grow for the future.
House lawmakers introduce bill to expand HSA services
On Thursday, March 2, House lawmakers introduced legislation designed to expand the types of services covered under health savings accounts without being subject to a deductible.
House Resolution 5138 seeks to give employers and plans the ability to cover chronic disease prevention before a patient has met his or her deductible.
Your cybersecurity to-do list
According to Juniper Research, cybercrime will cost businesses $2 trillion by 2019, a threefold increase from 2015. That’s a staggering number. So what are you doing to protect your business from a cyber attack? Do you have the ability to mount a cyber defense? Or are you just hoping for the best?
Please take a moment to read this article from Eric Cole, CEO of Secure Anchor, to see what you can do to protect your company from the inevitable.
Train your brain for sales success
Have so much to do you don’t know where to start? We’ve all been there. Please take a moment to read this discussion with professor and critically acclaimed author, Daniel Goleman, on how ‘mindfulness training’ can heighten your attention and focus in the workplace, allowing you to focus on what’s most important – such as increasing sales and closing more business.
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