Telemedicine has made significant strides, reshaping how healthcare is delivered and making medical services more accessible. With the recent surge in its popularity, it's crucial to understand how implementing this benefit could impact your business and your employees' health savings accounts (HSAs). For HR professionals, employers and plan sponsors, knowing the intricacies of telemedicine’s influence on HSA eligibility is essential.  [Download the entire story] to access links and charts from the IRS on HSA eligibility requirements and HSA-compatible coverage types. For a summary, read on.  The intersection of telemedicine and HSA eligibility  Did you know that offering a telemedicine benefit could affect an employee's eligibility for HSA contributions? The IRS has yet to issue direct guidance on this topic; however, general rules governing HSA contributions can help inform your decisions. The structure of your telemedicine benefit could determine whether it is conside...

Telemedicine is an increasingly popular type of benefit that enables people to use technology-based communication (for example, videoconferencing) to access medical care without being in the same physical space as a healthcare provider. Telemedicine can make healthcare more accessible and affordable for individuals, while improving employee productivity by reducing healthcare-related absences.   However, employers that implement telemedicine benefits should be aware of compliance concerns, including:   the Affordable Care Act’s market reforms;   ERISA’s reporting and disclosure requirements; and   COBRA’s continuation coverage requirements.   Employers can address these compliance concerns by integrating the telemedicine benefit with their group medical plans. Employers that sponsor high-deductible health plans should also consider how a telemedicine benefit may impact employees’ eligibility for health savings account contributions.  Resource...

Telemedicine’s popularity exploded during the COVID-19 pandemic. A few years later, digital health has rapidly matured and telehealth utilization remains above pre-pandemic levels, according to the Assistant Secretary for Planning and Evaluation’s Updated National Survey Trends in Telehealth Utilization and Modality .    The benefits of telecommunication, e.g., convenience and affordability, have caused employers to consider implementing telemedicine plans. Watch the video above to get a quick overview of telemedicine’s benefits. Then, take a deeper dive by reading Benefits Toolkit: Telemedicine , an introductory guide to telemedicine and its growth potential,* and learning about its compliance considerations . Once you’re finished, contact TruePlan to learn how to implement a telemedicine plan into your current employee benefits offerings. We can help you take an individualized approach that best suits your organization and its needs.     *This Benefits ...