June 28, 2011
The IRS has released the Health Savings Account (HSA) contribution limits for 2012, as well as the minimum deductible amounts and maximum out-of-pocket expense limits for HSA-connected high-deductible health plans (HDHP).
The HSA contribution limit for individuals with single HDHP coverage will be $3,100, a $50 increase. Individuals with family HDHP coverage will be able to contribute $6,250 to an HSA, a $100 increase.
The minimum required HDHP deductible will remain $1,200 for single HDHP coverage, and $2,400 for family HDHP coverage.
The maximum limit on out-of-pocket expenses (e.g., deductibles, co-payments, and other amounts, but not premiums) will increase by $100 to $6,050 for single HDHP coverage and by $200 to $12,100 for family HDHP coverage.
In order for an individual to remain HSA-eligible, his or her HDHP coverage must be within these deductible and out-of-pocket expense requirements.
The limit on catch-up contributions to HSAs will remain stable in 2012 at $1,000. If an individual is at least age 55 by the end of the year, then they can contribute as much as an extra $1,000 to their HSA for 2012.
The IRS may adjust these HSA and HDHP requirements each year to match the changing costs of living.
May 20, 2011
Through a provision in the Patient Protection and Affordable Care Act, the Accountable Care Organization (ACO) initiative is being launched January 2012 with the hope that these organizations will become a useful tool offering doctors and hospitals financial incentives to deliver quality services to Medicare beneficiaries and patients with private insurance while keeping costs at a minimum.
Instead of the current Hospital Centric Healthcare System we know today, where patients choose providers at will, Accountable Care Organizations would integrate and share responsibilities between a network of providers, including primary care physicians, specialists, hospitals and others, all aimed at providing effective, yet cost efficient care.
The hope in creating these ACO networks is to cut out unnecessary costs by increasing communication and information sharing, giving all providers responsibility for patient care, as well as financial incentives for keeping patients healthy.
Want to learn more? Click on the following link for details about ACO’s and the impact they could have on healthcare in the future: http://n.pr/hgIqIH
Interested in both sides of the story? The following link has interesting points from the ACO point-of –view and our current Hospital-centric system: http://bit.ly/idOkLU
