News

2019 IRS Cost-of-Living Adjustments Announced for FSA and Commuter Benefits

 

11/15/2018
WEX Health News

 

On November 15th, 2018, IR-2018-222 of the Internal Revenue Service (IRS) announced the 2019 annual cost-of-living inflation adjustments, which included increased limits for flexible spending accounts (FSAs), transportation fringe benefits, qualified parking expenses, and many other tax-related items.

Changes announced in the latest IRS announcement in regards to FSAs, parking, and transportation benefits are as follows:

  • The 2019 Maximum Health FSA Salary reduction contribution has been increased to $2,700 (up $50 from 2018).
  • The Monthly Limit on fringe benefit exclusion for transportation fringe benefit and qualified parking has been increased to $265 (up $5 from 2018).

Health Professional Radio interview with Chris Byrd: Health Savings Accounts (HSAs) and Healthcare Benefits

November 5, 2018

HPR

 

Chris Byrd, Executive Vice President at WEX Health, discusses the growing trend around Health Savings Accounts (HSAs) and healthcare benefits. HSAs are accounts that an individual can open if they have a certain kind of health insurance plan that has a high deductible. An individual can fund that HSA either directly out of pocket or through their employer plan by regular payroll deduction.

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WEX Health Enhances and Improves User Experience with Latest Product Release

 

11/1/2018
WEX Health News

 

Fargo, ND –   WEX Health, a WEX Company and an award-winning healthcare financial technology platform provider, introduces significant new features and functionality to its WEX Health Cloud platform through its October 2018 Release. The updates reflect WEX Health’s continued focus to engage, grow, and simplify the healthcare benefits administration process for consumers, employers, and its network of partners.

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WEX Health Clear Insights Report Featured on The Hospital Finance Podcast by Besler

August 8, 2018
Besler

 

Jeff Bakke discusses the WEX Health Clear Insights Report on Besler’s Hospital Finance Podcast.

Highlights of this episode include:

  • Review of some key findings from the WEX Health Clear Insights Report
  • Why high deductible health plan participants feel they are making smarter health decisions
  • How men and women look differently at unexpected healthcare costs and saving for them
  • What educational resources do consumers prefer when making informed choices about healthcare

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WEX Health Expands Mobile Capabilities and Introduces WEX Health Cloud COBRA & Direct Billing Mobile App

 

June 25, 2018
WEX Health News

 

Fargo, ND –   WEX Health, a WEX Company and an award-winning healthcare financial technology platform provider, has introduced significant new features and functionality to its WEX Health Cloud platform through its recent June 2018 Release. The updates reflect WEX Health’s continued focus to improve usability and deliver greater value to consumers, employers, and its network of Partners.

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Education Key to HDHP and HSA Engagement

May 29, 2018
PlanSponsor.com

The most challenging part respondents to a WEX Health survey cited in using their HSA was making sure to have enough funds set aside to cover deductibles (29%) and figuring out how much money to put in the account overall (21%).

Just 13% of the 1,100 respondents to WEX Health’s first-ever Clear Insights report identified a health savings account (HSA) as the employer benefit that provides the most pre-tax savings.

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WEX Health Unveils Chatbot as a Winner in Inaugural Innovation Challenge

 

May 15, 2018
WEX Health News

 

Leading Healthcare Benefits Administration Technology Provider Eyes Artificial Intelligence as Key to Simplifying the Consumer Experience While Reducing Support Costs

  

FARGO, North Dakota — WEX Health, an award-winning healthcare benefits technology provider, today announced that it has selected the WEX Health Bot as the winning innovation to emerge from the inaugural WEX Health Innovation Challenge (WHIC). The chatbot uses artificial intelligence (AI) designed to comprehend health benefit account plan-holders’ questions to help accomplish their most commonly requested tasks.

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