If HSAs and FSAs were functioning as originally intended, the rising out-of-pocket costs faced by most Americans would be met with increased financial fluency and agency.
Discovery Benefits provides account administration for consumer-directed benefits like flexible savings accounts and health savings accounts.
By reducing administrative burden and redesigning workflows around human needs, it creates space for what matters most: connection between clinicians and patients.
Health savings accounts allow people to put aside money tax-free for medical expenses. The House Republican plan proposes to nearly double the HSA contribution limits to $6,550 for individuals and $13,100 for families.
Forty-seven percent of HSAs with investments were opened between 2005 and 2008; in 2014, just 5 percent of HSAs that were opened had investments.