InterWest Insurance Services

NOVEMBER 25, 2022

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. Retirement plan maximums.

401(k) 98

401(k) Deductible Deductions Flexible Spending Account 98

InterWest Insurance Services

JULY 4, 2024

Study findings The trend of more Gen Z workers gravitating to HDHPs makes sense, since these plans are best suited for younger individuals who are generally healthier and have fewer health problems than their older counterparts — Gen Xers and Baby Boomers. Across generations, higher-salaried individuals choose HDHPs over traditional plans.

Voluntary Benefits 97

Voluntary Benefits Flexible Spending Account Deductible Deductions 97

WEX Inc.

JANUARY 3, 2023

Here are our top 10 blog posts from 2022: Your HSA when you change jobs Were you among the 20% of workers expected to quit their jobs in 2022? Fortunately, your health savings account (HSA) is an employee-owned account, so it stays with you, even when you switch employers. Learn more about the limits here.

Education 52

Education Flexible Spending Account Health Savings Account Flexible Spending 52

Health Consultants Group

OCTOBER 1, 2021

Accident and Health Benefits . Health Savings Accounts. Flexible Spending Accounts: funded by salary reduction. IRS guidelines restrict certain spending account benefits to maximum annual amounts. Cafeteria Plan benefits often include. Adoption Benefits. Dependent Care .

Employee Benefits 86

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

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. Participants are eligible for an HSA only if they’re enrolled in an HSA-eligible health plan, so the choice between these two accounts is related to providing choice in health plans.

Deductible 75

Deductible Deductions Flexible Spending Account Health Savings Account 75

Griffin Benefits

NOVEMBER 1, 2022

Together, these combined announcements by the IRS detail 2023 adjusted limits to the amounts employees can tuck away pretax into Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), transportation benefits, and retirement plans such as 401(k)s. The catch-up contribution amount remains $1,000.

401(k) 85

401(k) Retirement Plan Health Savings Account Deductible 85

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. Employees can deposit an incremental $100 into their health care FSAs in 2022.

401(k) 56

401(k) Retirement Plan Health Savings Account Deductible 56

Benefit Resource Inc.

DECEMBER 30, 2022

Let’s look back at some of the important things we’ve learned about pre-tax benefits in 2022. An HSA (Health Savings Account) is a great way to save up money tax-free for future medical expenses. Take a quick walk through the process of checking an account balance. learn more.

Taxes 75

Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

Proskauer's Employee Benefits & Executive Compensa

OCTOBER 21, 2022

On October 18th, the IRS announced a slew of inflation adjustments for 2023, including to the annual contribution and carryover limits for healthcare flexible spending accounts and the monthly limit for qualified transportation fringe benefits. Health FSAs. . Increase from 2022 to 2023. Increase from 2022 to 2023.

Transportation 52

Transportation Flexible Spending Account Flexible Spending Health Savings Account 52

Business Management Daily

SEPTEMBER 9, 2021

Almost all health plans offer add-on accounts — health flexible spending accounts, health savings accounts, or health reimbursement accounts. You need to know how these accounts differ so you can communicate about them to employees. Health flexible spending accounts.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Employment Flexible Spending 52

Benefit Resource Inc.

DECEMBER 7, 2022

The results of BRI’s 2022 Participant Satisfaction Survey are in! Summary of Results Use the arrows to view the results of BRI’s 2022 Participant Satisfaction Survey. BRI’s 2022 Participant Satisfaction Survey was conducted from July 19th to August 12th. BRI 2022 Participant Satisfaction Survey.

Flexible Spending Account 40

Flexible Spending Account Health Savings Account Flexible Spending Education 40

Benefit Resource Inc.

DECEMBER 30, 2021

New Limits to FSAs, HSAs, Commuter Benefits for 2022. Limits for Health Savings Accounts (HSAs) were released earlier this year. Pre-tax Account Limits for 2022. Health Flexible Spending Account: $2,850 (Up from $2,750 in 2021) Health FSA Rollover: $570 (Up from $550.

Health Savings Account 40

Health Savings Account Deductible Deductions Flexible Spending Account 40

HR Professionals Magazine

AUGUST 1, 2023

With over 4,000 respondents, the Society for Human Resource Management’s 2023 Employee Benefits Survey found that the number of employers offering family support and leave benefits has significantly increased since 2022. Among health care coverage options, preferred provider organizations remained the most common (82%).

Parental Leave 52

Parental Leave Flexible Spending Account Health Savings Account Flexible Spending 52

CorpStrat

JANUARY 17, 2023

The following commonly offered Employee Benefits are subject to these limits: High deductible health plans (HDHPs) and health savings accounts (HSAs). Health flexible spending accounts (FSAs). IRS Revenue Procedure 2022-24: 2023 limits for HSAs and HDHPs. 401(k) plans.

401(k) 52

401(k) Employee Benefits Flexible Spending Account Health Savings Account 52

Higginbotham

NOVEMBER 11, 2021

2022 Health FSA Contribution and Transportation Reimbursement Limits Released. Internal Revenue Code (Code) Section 125 imposes a maximum dollar limit on employees’ salary reduction contributions to a health flexible spending account (FSA). 1, 2022, the health FSA contribution limit is $2,850.

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Deductible Deductions 52

WEX Inc.

FEBRUARY 2, 2023

FSAs and HRAs EBSA Disaster Relief Notice 2020-01 also granted a temporary extension to run-out periods for flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs). trillion spending bill also extended a provision that provided relief to health savings account (HSA) participants.

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account Taxes 52

McDermott Will & Emery Employee Benefits

OCTOBER 21, 2022

The table below compares the applicable dollar limits for certain employee benefit programs and the Social Security wage base for 2022 […]. The post IRS Announces 2023 Employee Benefit Plan Limits appeared first on EMPLOYEE BENEFITS BLOG.

Employee Benefits 98

Employee Benefits Flexible Spending Account Employment Health Savings Account 98

Higginbotham

NOVEMBER 2, 2022

The following commonly offered employee benefits are subject to these limits: High deductible health plans (HDHPs) and health savings accounts (HSAs); Health flexible spending accounts (FSAs); 401(k) plans; and. Kaiser Family Foundation Releases 2022 Employer Health Benefits Survey.

401(k) 52

401(k) Flexible Spending Account Health Savings Account Flexible Spending 52

Higginbotham

NOVEMBER 28, 2022

Employers and employees alike are looking for ways to make health care more affordable. Some are turning to Health Savings Accounts (HSAs). Although HSAs won’t work for everyone, the benefits of an HSA account make this an appealing option for some individuals. What is a Health Savings Account (HSA)?

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductible Deductions 52

Benefit Resource Inc.

DECEMBER 19, 2019

2440 Qualified Health Savings Account Distribution Act. Modifies rules for terminating or converting from a flexible spending account or health reimbursement account to a health savings account. 603 Health Savings Account Expansion Act.

Health Savings Account 40

Health Savings Account Flexible Spending Account Taxes Flexible Spending 40

Higginbotham

JUNE 14, 2022

Flexible Spending Accounts (FSAs) have emerged as one solution. FSA programs can be a good fit for many employee health benefit programs, but before being able to decide, you may have some questions – for example, how do FSAs work? Flexible Spending Account vs. Health Savings Account.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Deductible Deductions 52

Benefits Notes

FEBRUARY 9, 2022

In response to stakeholder feed-back regarding FAQs 51, the Agencies released FAQs 52 on February 4, 2022. Guidance Related to the $12 Safe Harbor. The plan or issuer is not required to cover all FDA-approved OTC COVID-19 tests under its direct coverage program to satisfy the adequate access requirement. Additional Guidance.

Flexible Spending Account 40

Flexible Spending Account Health Savings Account Retail Medical 40

Benefit Resource Inc.

SEPTEMBER 8, 2022

8, 2022) —Benefit Resource (BRI), a leading provider of innovative and dedicated administration of tax-free benefits programs, announced today the acquisition of North Coast Administrators (NCA), an Ohio-based administrator of consumer-directed benefits and benefit continuation services. ROCHESTER, N.Y.

Health Savings Account 40

Health Savings Account Flexible Spending Taxes Human Resources 40

Higginbotham

JULY 12, 2022

Excepted benefit health reimbursement arrangements are designed to cover costs that are not covered under group health plans. According to Investopedia , the maximum benefit in 2022 is $1,800. Employees may enroll in an excepted benefit HRA regardless of if they enroll in the group health plan. 1, 2020).

Out of Pocket Cost 52

Out of Pocket Cost Flexible Spending Account Medical Deductible 52

Higginbotham

JANUARY 27, 2023

percent of Americans had employer-based health insurance in 2021, making this the most common type of health insurance. According to the KFF 2022 Employer Health Benefits Survey, 51 percent of all firms offer health benefits. Health Savings Accounts (HSAs) or Flexible Spending Accounts (FSA).

Health Insurance 52

Health Insurance Insurance Benefits Package Out of Pocket Cost 52

Business Management Daily

JANUARY 5, 2021

Relief for health savings accounts and dependent care assistance plans. Cafeteria plans with plan years ending in 2020 or 2021 may allow employees who have health flexible spending accounts or dependent care assistance plan accounts to rollover unused amounts into the next plan year.

Family and Medical Leave Act 52

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

Proskauer's Employee Benefits & Executive Compensa

FEBRUARY 7, 2022

On Friday, February 4, 2022, in response to stakeholder feedback, the Departments released—you guessed it— FAQs Part 52 , which clarifies their prior guidance on the new coverage requirements. Well, buckle up, because the fun continues. Modifications to the $12 Safe Harbor Rule.

Retail 52

Retail Manufacturing Medical Flexible Spending Account 52

Business Management Daily

FEBRUARY 10, 2022

But the principle also applies if employees have flexible spending accounts or health savings accounts. They can’t put in for reimbursements for the test kits they otherwise get for free or are reimbursed for through their group health plan. Nor should they want to. One safe harbor, two options.

Employment 52

Employment Retail Out of Pocket Cost Flexible Spending Account 52

Higginbotham

MARCH 17, 2023

While many employers are familiar with health savings accounts (HSAs) and flexible spending accounts (FSAs), lifestyle spending accounts (LSAs) are an emerging benefit that can provide flexible and personalized support to employees.

Health Insurance 52

Health Insurance Flexible Spending Account Insurance Benefits Package 52

Insperity

MARCH 12, 2024

Many employers match their employees’ contributions to boost their savings. In addition to considering key questions when selecting a retirement plan provider , the recent passage of the SECURE Act of 2022 has made it even easier for employees to save more in 401(k) retirement plans and has given employers more incentive to offer these plans.

Family and Medical Leave Act 59

Family and Medical Leave Act Employee Benefits PTO 401(k) 59

WEX Inc.

MARCH 4, 2025

Understanding the basic rules of a health savings account (HSA) is critical in driving employee participation. And only half of those surveyed in our Paying for Healthcare in America report said that they understand the differences among the different health spending accounts. Not be enrolled in Medicare.

Health Savings Account 59

Health Savings Account Flexible Spending Account Taxes Deductible 59

Benefit Resource Inc.

JANUARY 11, 2021

Additionally, we saw some relief for Dependent Care FSAs in the year-end spending bill , allowing for the temporary carryover of remaining funds into 2021 and 2022. Potential for Incremental Changes to Health Care Benefits and Pre-tax Health Accounts. What does that translate to regarding pre-tax health accounts?

Government 40

Government Taxes Flexible Spending Account Flexible Spending 40