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2022 Health Insurance Outlook, Changes

InterWest Insurance Services

As we enter 2022, there are a number of changes on the horizon that plan sponsors need to be aware of as they will affect group health plans as well as employees enrolled in those plans. Here’s a list of what to expect in 2022. Some of the changes concern temporary rules that were implemented during the COVID-19 pandemic.

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It’s Time for a Mid-Year Financial Check-Up

Money Talk

We are almost at the halfway mark of 2022, which makes this a perfect time to assess your financial progress and take action over the next six months. In it, I urged a review of tax deductions/credits, tax withholding, budgeting/cash flow, flexible spending accounts, financial goal progress, and investment portfolio status.

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Basics of Tax-Efficient Investing

Money Talk

People can also lower their account balances that get taxed by gifting up to $16,000 to individuals (2022). They include 529 college savings plans, flexible spending accounts (FSAs), tax-deferred annuities, and health savings accounts (HSAs) for people with high-deductible health insurance plans.

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Gen Z Workers Go for HDHPs, but Don’t Forget Your Other Employees

InterWest Insurance Services

It found that: 64% of health plan enrollees selected a traditional plan in plan year 2024, compared to 69% in 2022. The average employer covers 78% of their employees’ health insurance premiums, up from 74% in 2022. Across generations, higher-salaried individuals choose HDHPs over traditional plans.

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2021 Year-End Compliance Checklist

The Olson Group

As 2021 comes to an end, here are some year-end tips and compliance guidance to ensure you are ready to kick off 2022 on the right track! If your company has reached or exceeded 50 full-time employees you are now requited to comply with the Family and Medical Leave Act Compliance (FMLA) in 2022. Happy 2022! Employee Handbooks.

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New HSA, FSA, 401(k) Contribution Levels Set

InterWest Insurance Services

The IRS has released the 2023 maximum contribution amounts for health savings accounts and flexible spending accounts. The changes, which the IRS releases in November each year, will affect contribution limits for HSAs, FSAs and 401(k) and other retirement accounts. 7,750 for family coverage (up $450).

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How to offer health insurance as a small business

Higginbotham

Although some small business owners may feel overwhelmed by the prospect of offering health insurance and other benefits, the many advantages can make the effort worthwhile. ALEs are subject to certain health care reporting requirements. However, many small employers decide to offer health insurance anyway.