On March 5, 2018, the IRS released Revenue Procedure 2018-18 in Internal Revenue Bulletin 2018-10. Included in this Procedure is a reduction to the maximum contribution limit for Health Savings Account (HSA) contributions for calendar year 2018. The new limit for those with family coverage is $6,850. The previous limit had been set at $6,900. The maximum for...Read More

With the ACA falling apart at the seams, how are the carriers watching out for Our Interests and improving Our Outcomes? The Wall Street Journal last week provided us with some insight regarding the big player’s interest in expanding their health care offerings and controlling their costs. A brief history is helpful. Aetna unsuccessfully attempted...Read More

Health Care Affordability for Americans The Kirwan Companies, Ltd. and HSA Specialist of America have been in the Employee Benefits field for over 40 years and, among our other services, we have specialized in the promotion and education of HSA’s-Health Savings Accounts since their inception as MSA’s-Medical Savings Accounts in 1997. We have recently advanced...Read More

Some carriers are offering plans that appear to mimic HSA plans “BUT” their: Minimum Deductible’s or Maximum Out-of-Pocket Expenses exceed the HSA limits, which will then disqualify you from even having a Tax-Deductible HSA Account. On a more optimistic note, the American Health Care Act of 2017 (AHCA) passed House on May 4 and one of...Read More

On Thursday, May 4, the Internal Revenue Service (IRS) released the 2018 inflation-adjusted amounts for Health Savings Accounts (HSAs). In addition to the chart below that compares the increases in Contribution Limits, there are two additional and very important pieces of this valued program that also increase next year and impact your Coverage in the areas of:...Read More

Employee Benefits-Size Matters   Regardless of the size of your practice or business, the ever-increasing cost of your Group Health Plan(s) is typically the second or third largest item of your expenses, next to salaries or, in certain circumstances, malpractice insurance. But this is just the “transparent” cost of being an owner. Knowing (or NOT...Read More

As we hurtle further into the unknown arena of Healthcare, and an election with the nominees having diametric objectives, we are reminded that for all enterprises to function, hospitals and physicians alike, there must be a profit incentive, which always requires competition. The American Enterprise Institute has noted that Aetna has lost $430 million since...Read More

ACA, ALE’s, FTE, 6055, 6056, 1094C, 1095C Are you and your Accountant Confused Yet? As we prepare for the full effects of the 2016 ACA regulations to go into play, we will once again be faced with yet additional rules, regulations and potential penalties. You will recall that in an effort to mobilize the country...Read More

How will the Supreme Court rule on the Obamacare “Federal Tax Subsidies”? As you may be aware, according to the strict language of the law pertaining to subsidies, only Health Insurance purchased through an “Exchange established by the State under section 1311” of the ACA, Section 36B IRC, are eligible for subsidies. Currently there are...Read More

The “2011 Employer and Account Holder Surveys,” commissioned by ACS, A Xerox Company (NYSE: XRX), and conducted by Buck Consultants, show a majority of small employers (77 percent) believe that High Deductible Health Plans (HDHP) with an HSA are key in controlling health care costs. Additionally, more than half (56 percent) of account holders have...Read More