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How does an FSA work for participants?

WEX Inc.

A flexible spending account (FSA) allows participants to save money by setting aside pre-tax dollars to pay for eligible medical, dental , vision and dependent care expenses incurred by you, your spouse, or your eligible dependents. Limited medical FSA, which covers eligible dental, vision and preventative care expenses.

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FSA eligible expenses — what purchases count?

Business Management Daily

Flexible Spending Accounts allow employees to set aside pre-tax dollars from their paycheck to use for medical or dependent care expenses. These funds are placed in an FSA account that employees can use to pay for eligible expenses. Here is what you need to know to figure out if an expense is FSA eligible. Healthcare FSA.

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Leap year! How to handle 27 biweekly payrolls in 2020

Business Management Daily

1, 2021, is a holiday. 1 payday back into 2020, you’d still have 27 biweekly pay periods, this time in 2021. Depending on your payday, this will happen next year, when the 27th payday falls on Dec. Why: Paydays occurring on holidays are usually pushed back a day and Jan. Twist: If you don’t push the Jan. Who’s impacted.

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Spend Down Your FSA Funds

Benefit Resource Inc.

As the end of 2021 and the plan year looms, it’s crucial to consider what you can do with any remaining funds in your Flexible Spending Account (FSA). Most of the funds in your FSA need to be spent before the end of the plan year because you may lose what you don’t spend.

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COBRA subsidy FAQs: Answers to the most common questions

Benefit Resource Inc.

There is a subsidy for 100% of premiums (including 2% administration fees) for the cost of Group Health Plans, including: Medical, Dental, Vision, and most HRAs. Flexible Spending Accounts are not eligible for subsidy. The subsidy period begins on April 1, 2021 through September 30, 2021. When will it end?

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Choosing an HDHP versus a PPO/traditional health plan

WEX Inc.

Pre-tax employee benefits plans, such as health savings accounts (HSAs) and flexible spending accounts (FSAs) , let you save money by putting aside pre-tax dollars to pay for eligible medical, dental, vision and other expenses. In 2021, the average employer contribution to employee HSAs was $869.

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Employer Reporting on Prescription Drug Pricing Due By 12/27

Griffin Benefits

This reporting is due by December 27 of this year and must include information for the 2020 and 2021 calendar years, regardless of the plan or policy year. stand-alone vision or dental, among others) that are generally exempt from Affordable Care Act requirements are also exempt from this reporting. Excepted benefits (e.g.,