IRS Announces 2025 HSA Contribution Limits

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The IRS has recently released the contribution limits for Health Savings Accounts (HSAs) for 2025. In 2024 we saw a significant increase, mainly in response to continued pressures from inflation. In the upcoming year, we will see another adjustment upwards, yet smaller than the 2024 increases.

For 2025, individuals with self-only coverage can contribute up to $4,300 to their HSAs, up from $4,150 in 2024. Family plans can contribute up to $8,550, up from $8,300 in 2024. This change reflects a steady acknowledgment of the need for greater financial flexibility in managing health expenses.

The IRS hasn’t released the 2025 catch-up contribution yet for those age 55 and older. It is currently set at $1,000 for 2024, unchanged from 2023.

According to Fidelity Investments’ 2023 Retiree Health Care Cost Estimate, a 65-year-old retiring this year can expect to spend an average of $157,500, or $315,000 per couple, in health care and medical expenses throughout retirement. Understanding how to save and invest with an HSA plan is key to helping you plan for future expected and unexpected medical expenses.

If you are in an HSA and have questions about how to get the most out of the plan, CalCPA Health can help answer your questions. Approximately 45% of CalCPA Health medical subscribers are enrolled in a Health Savings Account. Education is key and CalCPA Health is here to help – whether you are in one of our HSA plans or not. We are a resource for you – feel free to ask questions by emailing info@calcpahealth.com.

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Don’t Forget the Sunblock

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May is Skin Cancer Awareness Month and a good time to learn about skin cancer and to understand just how serious this condition is. Each year over 5 million cases are diagnosed in the United States alone. Skin cancer is the most common type of cancer.  There are different types of skin cancer:

With summer just around the corner, you may find yourself spending more time outside. One thing to do before leaving your house each day, not just during the summer months, is to apply sunblock. Sunscreen is extremely important in protecting your skin from the sun’s harmful rays. It also aids in helping your skin from premature skin aging such as age spots and wrinkles. Also, seeing a dermatologist once a year can help in early detection of skin cancer. Prior to seeing a dermatologist, you can perform a self-exam and be prepared to show the doctor any unusual or changed moles or spots on your body. 

Sunblock is one way to help protect your skin, but there are other ways such as wearing a hat, a long sleeve shirt and pants, sunglasses, and staying in the shade. It is also key to reapply sunblock throughout the day, especially if you are in the water. Ultraviolet (UV) rays from the sun cause most skin cancers. The UV rays are the strongest between 10 am to 4 pm, so during those hours, you want to make sure you protect yourself.  

By taking precautions, you are helping protect yourself and your family from the sun’s harmful UV rays. Make it a point to learn about skin cancer and how to help prevent it – this will allow you to go outside and enjoy the fresh air safely!

 

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What is Mental Health Month

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Since 1949, the month of May has been recognized as “Mental Health Month”. It was established to help reduce the stigma surrounding mental conditions such as depression and bipolar disorder. At that time, many people didn’t talk about how they were feeling and suffered alone. Help wasn’t readily available due to the lack of knowledge about such illnesses. Over the decades, mental health doctors and researchers have learned about the many faces of mental illness and how to help those struggling.

Stats show that in 2019, nearly 50 million or 19.86% of adults in America experience a mental illness. (Source) The past two years of the pandemic resulted in a new level of stress and anxiety into our lives, creating a growing number of both adults and youth suffering from major depression. Read more

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Early Warning Signs of Mental Illness

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Mental Health Month was established in 1949 to help reduce the stigma surrounding mental conditions such as depression, schizophrenia, and bipolar disorder. Mental health was never truly understood in early times, thus the reason people tried to hide their feelings and emotions so not to be judged and criticized by those around them. They didn’t have the tools and the knowledge to understand that mental health was an illness.

Times have changed and mental health is a conversation around the world with tools and treatment plans available to help those struggling with mental illness. Mental Health America (MHA) has the B4Stage4 Philosophy that everyone should take a moment to understand. The point is made that we do not wait years to treat cancer, diabetes, or other serious conditions and that when symptoms are first experienced, typically you are trying to get treatment right away. MHA notes that people should be paying attention to early warning signs of mental illness such as loss of sleep, feeling tired for no reason, feeling down or anxious, and other such symptoms. Read more

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Mental Health Awareness Month

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The month of May is Mental Health Month, and it is a good time to learn about mental health conditions and where to find treatment.

Living through the past two years of the pandemic has taken a toll on the mental health of millions of Americans. We may notice a change in our own moods and emotions or recognize a change in our loved ones. Mental health encompasses our emotional and social well-being and ultimately effects how we feel, think and act daily. It can interrupt how we make decisions, perform at work, interact with others, and our ability to handle stress. Read more

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Mental Health and Young Children

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Mental Health Month was established in 1949 to help reduce the stigma surrounding mental conditions such as depression, schizophrenia, and bipolar disorder. Today, doctors and researchers have gained knowledge of the many layers of mental illness conditions and have developed different methods to help those suffering. Many of the conditions will not improve without the proper channel of help from a medical professional and with the help of family and friends.

The pandemic has taken a toll on people of all ages, but one age group of concern is young children. Many children are developing mental health conditions, and since they are young, it may be difficult for them to express their feelings. Knowing the symptoms of mental health conditions will help us to identify the issue(s) and seek out the right help: Read more

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COVID-19 Update

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At the recent CalCPA Council meeting members asked about how the CPA population was fairing health wise in the COVID pandemic. Ron Lang C.E.O. of CalCPA Health told Council that based on the data from their population of approximately 800 firms, that we are fairing a bit better than the general population. This is to be expected because COVID 19 has affected older, non-working populations more. Mr. Lang stated that to date CalCPA Health has had no fatalities and he would post a data update on clips for all members – so here it is.

As of November 2, 2020, 10.2% of CalCPA Health’s population has received at least one COVID test, with 11.6% of those tests positive. That equates to 1.2% of the total population testing positive. About a quarter of the tests and confirmed cases are antibody tests. About 3.5% of the cases have required hospitalization.

Also, more 25% of CalCPA Health’s population has used some sort of telehealth/virtual doctor visit since the pandemic started, up from less than 1% prior.

Anthem Reaches Agreement With Sutter Health Network

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Anthem Blue Cross Announces Multi-Year Agreement with Sutter Health

This week Anthem Blue Cross announced that it worked closely with Sutter Health and came to an agreement for a new multi-year contract that provides Anthem members with continued in-network access to Sutter facilities and with affiliated physicians through December 31, 2022.

This agreement means that Sutter Health will remain in the Anthem Blue Cross network, and CalCPA Health HMO, PPO and HSA members may access Sutter facilities and physicians. To learn more about this agreement, please visit Anthem’s site.

If you have any questions, call Banyan Administrators at (877) 480-7923 or email for more information.

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