5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Dennis Zuehlke Dennis is Compliance Manager for Ascensus. Mr. Zuehlke provides clients with technical support on tax-advantaged accounts (including individual retirement accounts, health savings accounts, simplified employee pension plans, and Coverdell education … Web: www.ascensus.com Details In the 10 years since health savings accounts (HSAs) first became available, HSA ownership has grown considerably. According to the annual census by America’s Health Insurance Plans (AHIP), as of January 2014, 17.4 million people had enrolled in HSA/high deductible health plans (HDHPs). This is up from 15.5 million in January 2013 and represents an average annual growth rate of 15 percent since 2011 (Center for Policy and Research, America’s Health Insurance Plans, “January 2014 Census”, July 2014, accessed August 2014, www.ahip.org/Press-Room/2014/HSA-Census-Survey). This double-digit growth rate creates several opportunities for credit unions to maximize their HSA programs.Much of the increase in HSA/HDHP coverage is occurring in the large group market, defined as employers with more than 50 employees. In 2014, the AHIP census found that 74 percent of all individuals enrolled in an HSA/HDHP were in the large group market. This percentage has increased each year since 2005 as HSA/HDHP adoption has shifted from individuals and small businesses to large businesses. Among large employers—those with 500 or more employees—32 percent offered an HSA/HDHP in 2013.The number of HSA/HDHP enrollees has grown each year since AHIP conducted its first census and reported that enrollment in HSA/HDHPs reached one million people in March 2005. And this trend is likely to continue and accelerate in the future, driven by a number of market forces that include the following.Annual increases in health insurance premiums. Testifying before the House Committee on Ways and Means, then Health and Human Services Secretary Kathleen Sebelius said that health insurance premiums are “likely to go up” in 2015, just as they did in 2014. The annual rate of increase in health insurance premiums is now greater than the average annual wage increase and the rate of inflation. These premium increases make HSA-compatible HDHPs a more attractive insurance option, as HDHPs have lower premium rates than other types of health plans, and the rate of premium increases for HDHPs tends to be lower than for other types of plans.Wide availability of HSA/HDHPs on healthcare exchanges. Despite predictions that the Patient Protection and Affordable Care Act (PPACA) would be the demise of HSAs, HSA/HDHPs are available on www.healthcare.gov and many of the state-run healthcare exchanges. These HSA/HDHPs generally are among the least expensive plans available on the exchanges, making them an attractive option for consumers.Large employers switching to HSA/HDHPs. As healthcare costs continue to rise, employers are continuing to switch to HSA/HDHPs to curb costs. Two-thirds of employers participating in the 2014 Health and Well-being Touchstone Survey conducted by PricewaterhouseCoopers (PWC) offered HDHPs. And 47 percent of respondents offered an HSA/HDHP plan (up from 39 percent last year). Average enrollment in those plans increased from 20.5 percent in 2010 to 39.2 percent in 2014. And, while just a few years ago, large employers offered an HSA/HDHP as one of several options, increasingly they are offering an HSA/HDHP as the only option. Among survey respondents, 44 percent are considering replacing their existing health plan with an HDHP, and 18 percent of respondents already offer an HDHP as their only option (PricewaterhouseCoopers, “2014 Health and Well-being Touchstone Survey”, June 2014, accessed August 2014, www.pwc.com/us/en/hr-management/publications/health-well-being-touchstone-survey.jhtml).Although the AHIP census tracks the number of individuals covered by HSA/HDHPs, it does not track the number of HSA enrollments. But there is a direct correlation between the census findings on the growth of HSA/HDHPs and data on the growth of HSAs. As the number of employers offering HSA/HDHPs increases, along with the number of people covered by the plans, so do the number of HSAs and the dollar amounts held in them. This is good news for credit unions and is reflected in account growth at credit unions offering HSAs.Credit unions offering HSAs recorded a more than 27 percent increase in HSA deposits last year. HSA deposits at credit unions increased from $667 million in December 2012 to over $850 million in December 2013, according to call report data analyzed by the Credit Union National Association’s Economics and Statistics Department. Credit unions also recorded double-digit growth in the number of HSAs, with credit unions participating in the Ascensus Fully-Administered HSA Program reporting a nearly 20 percent increase in the number of HSAs from 2012 to 2013. As of December 2013, more than 780 credit unions offered HSAs to their members.We expect this growth trend to accelerate in the future. Although some credit unions initially offered HSAs to accommodate member requests, increasingly credit unions see HSAs as a must-have product for their self-employed and small business members. If your credit union currently is not offering HSAs, you should consider offering them, given the number of employers adopting HSA/HDHPs. And with the changes in the healthcare marketplace, HSA/HDHPs are an attractive health insurance option.
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Joni Hubred Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window) Sunflour Bakehaus co-owner Becky Burns typically volunteers in Gill Elementary School art teacher Kristina Barauskas’ classroom during the school year.Because Farmington Public Schools students will be learning from home, Burns came up with another way to provide support. The downtown Farmington bakery is collecting supplies that Barauskas will turn into art kits for her students to use during online lessons.If you’d like to help, drop off any of these supplies at 33250 Grand River:Oil pastels/cras paswatercolor paint and brushescolored pencilskid-sized scissorsglue and gluesticksthick black Sharpie markersthin black Sharpie markersmodeling claypencilseraserspencil sharpenerscrayonsmarkersThe bakery is also collecting regular school supplies for Farmington Youth Assistance, which provides support and services to prevent juvenile delinquency, child neglect and child abuse. Reported by
AC Milan playmaker Kaka has turned down a lucrative move to Manchester City.“Kaka is staying at Milan,” said a club spokesman, after the team’s owner Silvio Berlusconi told Italian television the 26-year-old was staying.City issued a statement saying they had ended talks, believing it was unlikely a deal could be struck with Milan.“A transfer must work commercially, financially, results on the field and within City’s broader community,” said executive chairman Garry Cook.“The discussions reached only a preliminary stage and the player was not involved at any time.” added Cook, who spent Monday in meetings with Milan officials and Kaka’s father and advisor Bosco Leite. “No commercial terms were framed.”City’s bid for Kaka was reportedly worth a £100m, more than £50m than the current world transfer fee record Real Madrid paid to Juventus to sign Zinedine Zidane in 2001. “That’s the end of the story,” Berlusconi told Italian television. “I’m truly delighted to have kept Kaka at Milan.“Kaka is a great champion and a great man. He’s refused the offer from Manchester City giving privilege to Milan, his companions and his fans.“He said it’s because money isn’t everything in life. Kaka is staying with us and we’re delighted. Money is important, but there are also other things that are important.“The fans are delighted too. Turning down so much money is something to admire.”Earlier hundred of Milan fans had protested outside the club’s headquarters over the possible sale of the Brazilian to Manchester City in a £100m transfer. Fans had also gathered outside Kaka’s house and he responded by beating his hand three times on his heart while holding a Milan shirt.On Saturday Kaka had played in Milan’s 1-0 win over Fiorentina at the San Siro, with the home fans displaying banners such as “Kaka is Priceless” and “Hands Off Kaka”, and singing “Don’t Sell Kaka”.After the game England international David Beckham, who is currently on loan at Milan from US club LA Galaxy, had predicted the Brazilian would opt to stay at the San Siro.“I don’t think anybody in the dressing room is thinking about how much money they can earn,” said the England international.“It’s about playing with the best team, with the best players in the world and winning trophies, and it’s not always about money. “Riccardo doesn’t need my advice. He will decide what he wants to do, but he loves Milan. I don’t think he will leave.”Kaka joined Serie A giants Milan from Sao Paulo in 2003 and has since won the Italian league title, Champions League and Club World Cup.The attacking midfielder has scored 86 goals in 244 appearances for Milan. He has also picked up 62 caps for Brazil and scored 23 goals.Sheikh Mansour bin Zayed Al Nahyan, estimated to be worth £15bn, took over as City owner in September 2008 and extensive funds have been made available to City manager Hughes.So far he has secured the services of Wayne Bridge in and Craig Bellamy during the January transfer window. Kaka is under contract at the San Siro until 2013, and although he stated last February that he wanted to remain at Milan for the rest of his career, he had hinted at a desire to play in the Premier League – which he has described as the “best championship in the world”.Source: BBC
“This is real money, owed to real people and real programs,” Chiang said in a statement. “Some have been able to weather the non-payments by raiding their savings accounts, or taking out loans. But we’re getting to the dangerous point where the lack of these funds is going to have a detrimental effect on individuals and programs.” General child-care and development initiatives are state and federally funded programs that place children in centers and home networks. They provide child-development services for children from birth through 8 years of age, as well as older children with special needs. The state government reimburses these agencies for up to 90percent of their expenses. Meanwhile, in Burbank on Tuesday, state Superintendent Jack O’Connell at a news conference urged the Republican caucus to get back to Sacramento and “let the governor have his budget.” School districts and child-care centers received their last monthly reimbursement payments at the end of June. “The state Republican caucus has earned a failing grade for not doing their work, for not passing the budget,” he said, adding that he hoped they understood the “real world consequences” of their actions. Staff writer Bethania Palma contributed to this story. [email protected] (626) 578-6300, Ext. 4494160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! Child-care officials said home-care providers, who can supervise up to six children, are among the hardest hit. Many have said they will have to remove state-subsidized children from their care, or shut down their facilities entirely until the budget is passed, said Cristina Alvarado, executive director of Child Care Information Service, a state-licensed placement agency in Pasadena. State Controller John Chiang said the budget stalemate prohibited him from paying an estimated $1.1 billion in July to community colleges, special-education programs, nursing homes, cancer detection programs and small businesses that provide services to the state. Based on last year’s payments, he predicted he will be forced to withhold another $2.1 billion in total funds this month if the budget impasse continues. So far, Chiang’s office said it has been forced to withhold $300 million in child development program funds that go to schools and private preschool and day-care programs under contract with the Department of Education. Without a budget, the department has no authority to cut checks to its programs, he said. WHITTIER – Local child-care providers say the state’s budget stalemate is threatening services to low-income families who depend on subsidized funding. Dolores Meade, chief operations officer for Options, a child-care provider that runs sites in the Whittier area, said more than 800 local children the company serves could be affected. “If there’s no state budget by the middle of October, we’ll be having some discussions on whether we can stay open,” she said. “Whittier has a lot of children on subsidized funding.” It’s a refrain heard around California as the state enters its 39th day without an approved budget.