WEX Inc.

JULY 24, 2023

And it’s a solution you might already be offering: the health savings account. These accounts provide another way for your employees to diversify their efforts to prepare for retirement. HSA contributions made through payroll are not subject to the 7.65% FICA tax. Why HSAs for retirement planning? Yes,” Cook said.

Retirement Plan 98

Retirement Plan 401(k) Health Savings Account Taxes 98

BerniePortal

JANUARY 22, 2020

Trying to beat the tax time rush? Mid-January marks the start of tax season! Employees have likely already received their W-2s (January 31 deadline) and are preparing to file for 2020. Now's a good time for HR to advise employees to review paycheck withholdings and health care items. Review Health Savings Account.

Taxes 64

Taxes Health Savings Account Health Insurance Medical 64

Benefit Resource Inc.

JUNE 1, 2020

This Father’s Day 2020, you might be surprised at some of the items you can find online. Our best picks for Father’s Day 2020. Your pre-tax account is here to help you treat yourself and be the best dad possible. Happy Father’s Day 2020! Make sure you let your dad (or uncle or brother!)

Flexible Spending Account 61

Flexible Spending Account Flexible Spending Health Savings Account Taxes 61

WEX Inc.

MAY 8, 2023

HDHPs can actually be a great healthcare saving option for employees of all ages. Along with paying a lower premium, HDHPs offer financial opportunities that PPOs do not because employees can enroll in a health savings account (HSA) , but only if they’re also enrolled in an HSA-eligible HDHP.

Deductions 97

Deductions Deductible Health Savings Account Employee Enrollments 97

WEX Inc.

MAY 12, 2023

There are a variety of ways you can promote mental health in the office , and one way is to provide benefits that support your employees' needs. For example, your employees can use their health savings account (HSA) to improve their financial wellness and save money on a variety of mental health-related expenses.

Health Savings Account 98

Health Savings Account Medical Retirement Plan Taxes 98

Proskauer's Employee Benefits & Executive Compensa

MARCH 22, 2022

Effective April 1, 2022, high-deductible health plans can once again offer first-dollar coverage for telehealth and other remote services without making participants ineligible for health savings account (“HSA”) contributions.

Deductions 97

Deductions Deductible Health Savings Account Taxes 97

Proskauer's Employee Benefits & Executive Compensa

JANUARY 31, 2023

provisions make some significant changes for retirement plans , but CAA 2023 also extends the telehealth plan safe harbor for high-deductible health plans (“HDHPs”) that were first introduced in the 2020 CARES Act. Not only do the CAA 2023’s “SECURE 2.0” The two-year extension continues the relief until January 1, 2025.

Deductions 98

Deductions Deductible Health Savings Account Retirement Plan 98

PeopleKeep

OCTOBER 26, 2020

The percentage of workers covered under HDHP plans has increased from four percent of all employer-sponsored health insurance plans in 2006 to 31 percent in 2020. A high deductible health plan (HDHP) paired with a Health Savings Account (HSA) is growing in popularity because it allows employees to pay for medical expenses tax-free.

Deductions 75

Deductions Deductible Health Savings Account Health Insurance 75

Health Consultants Group

OCTOBER 1, 2021

In 2020, they surveyed 2,504 active HR professionals. Their Employee Benefits in 2020: Executive Summary report discusses their primary findings. . Based on SHRM’s research, benefits that supported remote work, caregiving, and health became essential during the pandemic. Accident and Health Benefits . Adoption Benefits.

Employee Benefits 86

Employee Benefits Family and Medical Leave Act Flexible Spending Account Health Savings Account 86

Benefit Resource Inc.

MARCH 23, 2020

Tax time is no longer just April 15th. Recent guidance from the IRS delays the Federal tax filing deadline and Federal tax payment deadline. However, state deadlines and the impact on contributions to a Health Savings Account remain less clear. Tax payment deadline delayed. What are the details?

Taxes 49

Taxes Health Savings Account IT 49

Best Money Moves

AUGUST 18, 2021

Accessible and comprehensive health benefits. Over half of all Americans receive health insurance from their employers, according to 2019 census data. So it’s not surprising that in a 2020 survey of 2000 multigenerational participants, dental and vision insurance topped the list of most wanted Employee Benefits.

Health Insurance 111

Health Insurance Health Savings Account Insurance Benefits Package 111

Benefit Resource Inc.

SEPTEMBER 2, 2020

FSAstore.com’s Senior Account Manager Michael Lublanecki sat down with CEO Jason Hall to discuss the BRI & FSAstore.com partnership. This partnership provides participants with an easy way to use their pre-tax health dollars. FSA Calculator – Calculate yearly contributions and tax savings. thermometers.

Health Savings Account 97

Health Savings Account Banking Taxes Medical 97

InterWest Insurance Services

JANUARY 27, 2023

Recent studies have highlighted an alarming trend in American health care: More and more people are struggling with medical bills and many are delaying care due to high costs. That’s up from 26% in 2020 and 2021. Urge any employees in HDHPs to sock away funds in their attached health savings accounts for future medical expenses.

Out of Pocket Cost 93

Out of Pocket Cost 401(k) Deductions Deductible 93

InterWest Insurance Services

JUNE 2, 2023

Employers offer flexible savings accounts and health savings accounts to their employees so they can build up funds with pre-tax dollars to pay for health care and related expenses. Both FSAs and HSAs have the same rules for what they will cover.

Out of Pocket Cost 98

Out of Pocket Cost Health Savings Account Medical Health Insurance 98

Benefit Resource Inc.

DECEMBER 10, 2020

BRI employees are in a unique position; we handle pre-tax benefits administration for thousands of participants every year, and utilize the same plans we sell! Many of the plans focus on savings, financial wellness, and health. We wanted to share the main lessons BRI employees learned about financial wellness in 2020. .

Health Savings Account 45

Health Savings Account Medical Taxes Deductible 45

InterWest Insurance Services

MARCH 4, 2022

As rising health insurance premiums and out-of-pocket costs for health care are burdening workers, more employers are looking for ways to help their staff put aside money for those expenses. While health savings accounts have grown in popularity, you can only offer them to employees who are enrolled in high-deductible health plans.

Medical 97

Medical Health Insurance Out of Pocket Cost Deductions 97

Benefit Resource Inc.

AUGUST 6, 2021

Free Health Savings Account? Now, let’s assume those 100 employees contribute $2,000 a year each into their HSA through their pre-tax payroll deduction contributions. Based on the FICA tax rate of 7.65%, you’ll save $15,300. That covers the administrative costs and still leaves you with $12,000 in savings!

401(k) 76

401(k) Health Savings Account Deductions Deductible 76

WEX Inc.

JULY 20, 2023

Smaller employers may face challenges in providing these options, although participants have said they are interested in these health plan choices. Increased wellness benefits options Employee wellness has been top of mind for employers , especially since the COVID-19 pandemic began in early 2020.

Deductions 75

Deductions Deductible Flexible Spending Account Health Savings Account 75

Benefit Resource Inc.

FEBRUARY 4, 2021

Health Savings Accounts (HSAs) are basically the hot new(ish) accessory in the benefits world these days. No matter where you are in your career, or in life, your Health Savings Account will be your constant companion. We are here to sing the praises of HSAs in five parts: You keep your funds forever.

Health Savings Account 73

Health Savings Account 401(k) Retirement Plan Taxes 73

Flimp Communications

JUNE 24, 2020

Second, the tax code can subsidize your medical costs. But even if you don’t, health savings accounts (HSAs) allow you to save money, tax free, to be spent on healthcare. Not all health plans allow for HSAs, though, so make sure you look to offer plans with tax benefits employees can take advantage of.

Healthcare 98

Healthcare Deductions Deductible Insurance 98

Griffin Benefits

DECEMBER 30, 2022

This will allow participants receiving this coverage to continue to contribute to a health savings account (“HSA") for this purpose. The information herein is provided for general information only, and is not intended to constitute legal or tax advice as to an organization’s or individual's specific circumstances.

Deductions 84

Deductions Deductible Health Savings Account Taxes 84

Best Money Moves

AUGUST 18, 2021

Accessible and comprehensive health benefits. Over half of all Americans receive health insurance from their employers, according to 2019 census data. So it’s not surprising that in a 2020 survey of 2000 multigenerational participants, dental and vision insurance topped the list of most wanted Employee Benefits.

Health Insurance 83

Health Insurance Health Savings Account Insurance Benefits Package 83

Benefit Resource Inc.

FEBRUARY 6, 2020

According to estimates taken between October 1, 2019 to January 25, 2020, there have been approximately: 19,000,000 – 26,000,000 flu-related illnesses. The post Protect Your Family: Get a Flu Shot with Your Tax-Free FSA Funds appeared first on BRI | Benefit Resource. 8,600,000 – 12,000,000 flu-related medical visits. Sources: [link].

Flexible Spending Account 45

Flexible Spending Account Taxes Flexible Spending Health Savings Account 45

WEX Inc.

MAY 28, 2024

There are a variety of ways you can promote mental health in the office , and one way is to provide benefits that support your employees’ needs. For example, your employees can use their health savings account (HSA) to improve their financial wellness and save money on a variety of mental health-related expenses.

Health Savings Account 52

Health Savings Account Medical Retirement Plan Taxes 52

Flimp Communications

MARCH 31, 2020

This year’s federal tax season has been extended to July 15th due to the COVID-19 health crisis. With everyone under unique and often financial strains, many are examining their finances, searching for ways to save money. Where Tax Savings and Benefits Intersect. Unused balances roll over year to year.

401(k) 75

401(k) Retirement Plan Medical Taxes 75

Business Management Daily

JANUARY 5, 2021

The law also extends expiring tax provisions and everything that could be jammed into 5,593 pages of federal legislation three days before Christmas. The key payroll provisions include: An extension of the paid sick/ family leave provisions and your tax credit for providing leave. Extensions of popular payroll tax provisions.

Family and Medical Leave Act 52

Family and Medical Leave Act Payroll 401(k) Taxes 52

Benefit Resource Inc.

OCTOBER 27, 2020

The IRS released the 2021 limits for Mass Transit, Parking, Medical FSA and Adoption Assistance in Revenue Procedure 2020-45. There were no changes to limits for the commuter accounts or medical flexible spending account. Maximum Election : $270 / month (no change from 2020). Find it here: 2020 Limits: Pre-tax accounts.

Flexible Spending Account 40

Flexible Spending Account Health Savings Account Flexible Spending Medical 40

Griffin Benefits

NOVEMBER 11, 2021

The IRS has finally announced adjustments to 2022 contribution limits on various tax-advantaged health and dependent care spending accounts, retirement plans, and other employee benefits such as adoption assistance and transportation benefits. 2022 Retirement Plan Limits Increase. HSA & HDHP Limits Increase for 2022.

401(k) 56

401(k) Retirement Plan Health Savings Account Deductible 56

Higginbotham

NOVEMBER 11, 2021

1, 2022, the health FSA contribution limit is $2,850. In addition, for tax year 2022, the monthly limitation for the qualified transportation fringe benefit and the monthly limitation for qualified parking increases to $280. Annual Increases to Health FSA Carryover Limit. Type of Account. Health Savings Account.

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Deductible Deductions 52

Snell & Wilmer Benefits

JANUARY 24, 2023

There have been various laws and guidance impacting HDHPs and telehealth since 2020 and most recently, new legislation extended relief for 2023 and 2024 plan years.

Deductions 52

Deductions Deductible Family and Medical Leave Act Health and Welfare 52

Business Management Daily

OCTOBER 15, 2020

Employers can expect health benefit costs to rise 4.4% on average in 2021, compared to 2020, according to early results from the Mercer consulting firm’s National Survey of Employer-Sponsored Health Plans 2020. Seven in 10 employees surveyed said improving their financial health is a top goal this year.

Health Savings Account 52

Health Savings Account Healthcare Life Insurance Insurance 52

Benefit Resource Inc.

JANUARY 2, 2020

From tax reform to how-to articles, here are the top 10 blogs from Benefit Resource: Check Your Balance. So far, prices have held steady… Pre-tax limits. Across 2018 and 2019, the announcement of pre-tax limits held employees’ attention. Stay on the ball and check view 2020 pre-tax limits here and here.

Flexible Spending Account 40

Flexible Spending Account Flexible Spending Health Savings Account Taxes 40

Benefit Resource Inc.

AUGUST 12, 2021

NOTE: A previous version of this blog on personal protective equipment was originally published in October 2020. Reimbursement is permitted for Health Reimbursement Accounts that currently allow over-the-counter medical supplies as eligible expenses.

Flexible Spending Account 40

Flexible Spending Account Health Savings Account Flexible Spending Medical 40

Higginbotham

JUNE 9, 2023

P CORI Fees Due July 31, 2023 The Affordable Care Act (ACA) requires health insurance issuers and self-insured plan sponsors to pay Patient-Centered Outcomes Research Institute fees (PCORI fees). The fees are reported and paid annually using IRS Form 720 (Quarterly Federal Excise Tax Return). for plan years ending on or after Oct.

Deductions 52

Deductions Deductible Health Insurance Taxes 52

Benefit Resource Inc.

AUGUST 1, 2019

Last May, the Health Savings Account (HSA) contribution limits for this year were announced. The article included the new HSA contribution limits for those with varying coverage levels and the minimum deductible limits for HSA compatible health plans. Step 3: Enjoy the continuing tax break. Step 1: Go to HR.

Health Savings Account 40

Health Savings Account Taxes Deductible Deductions 40

Benefit Resource Inc.

OCTOBER 1, 2020

ROCHESTER , NY, October 1 , 2020 – B enefit Resource , LLC (BRI) today announced the acquisition o f 121 Benefit s , a Minneapolis-based administrator of pre-tax benefits and benefit continuation services. This marks the first acquisition for BRI since its strategic partnership with CIP Capital in August 2019. . “

Flexible Spending Account 45

Flexible Spending Account Health Savings Account Flexible Spending Transportation 45

Business Management Daily

SEPTEMBER 27, 2019

An ounce of prevention may be worth a pound of cure, but up until this point, high-deductible health plans have been boxed in regarding tax-free reimbursements for most preventive care services or items. To temper an HDHP’s bite, they can be paired with health savings accounts. deductibles, co-payments, etc.)

Health Savings Account 40

Health Savings Account Deductions Deductible Flexible Spending Account 40