HSAs Can Be A Powerful Savings Tool–But You Have To Know How To Utilize Them Right
Health savings accounts are unique in the triple tax advantage they offer, but many people can overlook them or find them too confusing to use.
The Wall Street Journal:
How To Use The HSA, For Medical Or Retirement Savings
The health savings account, or HSA, can be a powerful savings tool—if you approach it the right way. These accounts, which Congress authorized in 2003, are more than just a simple savings tool for medical emergencies. Retirement planners laud the HSA’s triple tax advantage and its use as a complementary savings vehicle to 401(k) plans. Oftentimes when people first hear of HSAs, it is during this time of year. For companies with policies that start in January, open enrollment typically happens in the fall. During this period, many employees are already stressed about choosing and selecting other benefits. (Carpenter, 11/7)
In other health industry news —
Modern Healthcare:
Tenet Proposes $66 Million Settlement In False Claims Case
Tenet Healthcare Corp. has agreed in principle to pay the federal government about $66 million to settle a whistleblower lawsuit alleging it billed public programs for services provided by physicians who had improper financial relationships with an Oklahoma hospital partly owned by Tenet. The qui tam lawsuit, filed in 2016 and unsealed last year, alleges violations of the False Claims Act, the Anti-Kickback Statute, the Stark law and the Oklahoma False Claims Act. (Meyer, 11/6)
Modern Healthcare:
Patients Feel The Pain Of Hospital-Physician Consolidation
Medicare beneficiaries are struggling with higher cost-sharing stemming from health systems snapping up physician practices and shifting many services to their outpatient departments, according to new federal research. The CMS' payment policies have put the pressure on hospitals to buy physician practices to take advantage of better reimbursement rates for their sites of care, the Medicare Payment Advisory Commission's staff said at a meeting on Thursday. The share of physicians employed by hospitals increased from 26% in 2012 to 44% in 2018. (Brady, 11/7)
