January 21, 2019
Your Weekly HSA News
Read the latest news about Health Savings Accounts and consumer-driven health care.
News from Washington
Shutdown Nears a Month: Here's What You Need to Know
The longest government shutdown in U.S. history is set to reach a new milestone as it nears the one-month mark. President Trump has not budged from his demand for border wall funding, and congressional Democrats are equally dug in on their refusal to provide that money.

Trump Pitches New Plan to Reopen Government Amid Dem Pushback
On January 19, President Trump pitched linking funding for the border wall with temporary protections for some undocumented immigrants as a pathway out of the weeks-long partial shutdown, but quickly ran into pushback from Democrats.

Compare Democrats’ Many Medicare-for-All Proposals With This Chart
For a more in depth look at each of the eight proposals, the Kaiser Family Foundation has a thorough explanation as well as an interactive tool that permits people to see a more detailed side-by-side comparisons of different proposals.

HSA Compliance Corner
“Mr. HSA” Projects 2020 HSA Amounts
I am projecting that the HSA contribution limits will increase again for 2020. In addition, the minimum deductibles and annual out-of-pocket maximums for HSA-qualified health plans will also change for 2020. This means insurance carriers and trustees and custodians will need to plan ahead and start making the necessary adjustments now.

Establishing Your HSA
Your HSA is established in accordance with the trust law in the state whose laws govern your HSA. An HSA is a trust, and trusts are regulated by state law. Most states require that you complete three actions to establish a trust.

HSA Industry News
Franklin Templeton and Principal Each Make HSAs a Priority
Franklin Templeton announced it has expanded eligibility of the increasingly popular institutional R6 share class for HSAs, while another retirement plan services provider, Principal Financial Group, unveiled its first collaboration with an HSA provider, HealthEquity.

The HSA Market
State Legislators Signal Support for HSA Fix
The National Council of Insurance Legislators recently met in Oklahoma City and approved a unanimous bipartisan resolution supportive of policies that preserve access to HSAs. The NCOIL resolution advises states to avoid actions taken in several states requiring health insurers to provide first-dollar coverage of vasectomies.

HSAs & Retirement
This 1 Expense Will Cost Retirees Almost $300,000
The average 65-year-old couple retiring today will need $280,000 to cover their medical expenses in retirement, according to a Fidelity study. I'll explain how the $280,000 estimate can be interpreted, how you can budget for it, and how Medicare helps.

Maximizing Your HSA
Do This With Your HSA Right Now
Most people don't give much thought to HSAs until they have some sort of medical event that forces them to investigate creative funding options. But an HSA can be a valuable account to have at any time. Let’s take a look at what you should be doing with your HSA right now, and why you should.

Combining My Health Savings Accounts and Adding Dividend Income Along the Way
After receiving my second HSA card in the mail a few months ago, I quickly became annoyed with having two accounts. So I decided to look into this further and determine if I should keep two separate HSAs or combine the two accounts.

Consumer-Driven Health Care
Hospitals Must Now Post Prices. But It May Take a Brain Surgeon to Decipher Them.
On January 1, hospitals began complying with a Trump administration order to post list prices for all their services, theoretically offering consumers transparency and choice and forcing health care providers into price competition. It’s turning into a fiasco.

Need Hospital Care or Tests? Some Ways to Get Cost Estimates
Some major insurers, states and other groups also have online cost estimators. But accuracy varies. If you need surgery, tests or other hospital services, experts advise price shopping. Call your insurer and check charges at multiple hospitals.

Healthcare Shopping: An MRI in Dallas Can Range from $240 to $3,290
Insurance giant UnitedHealth Group compiled information about Dallas’ healthcare prices in an effort to make its clients aware of the range that exists and motivate them to act in their best interest. They found procedure costs that were five to ten times the lowest price in the area.

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Our goal is to provide you with easy to understand information and resources about HSAs. We will help you learn how to best use your account to meet your particular health care and financial needs. We’ll also help you find out what medical expenses can be paid from your HSA and how to choose the best HSA to meet your financial goals.

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