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Smallest Firms See Largest Health Insurance Hikes

InterWest Insurance Services

A new report has found that small businesses that purchase their group health insurance online or through payroll vendors saw the largest premium hikes in 2022, significantly higher than those that went through brokers. The cost for individual group health plans increased 6.7% overall between 2021 and 2022.

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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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Updated 2022 HSA and HDHP Thresholds Announced by IRS | BerniePortal

BerniePortal

The IRS recently issued new 2022 contribution limits for health savings accounts (HSA), which represent the total amount of tax-advantaged dollars that participants can deposit into these accounts. Find out what these limits are and how employers can alert employees about the changes.

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

InterWest Insurance Services

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.

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Worker Enrollment in HDHPs falls

InterWest Insurance Services

After enrollment in high-deductible health plans soared during the last decade, 2022 marked the first year that enrollment in these plans fell among American workers since 2013, according to a new report by ValuePenguin. The insurance-review website found that 54% of U.S.

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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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Worker Enrollment in HDHPs Falls

InterWest Insurance Services

After enrollment in high-deductible health plans soared during the last decade, 2022 marked the first year that enrollment in these plans fell among American workers since 2013, according to a new report by ValuePenguin. The insurance-review website found that 54% of U.S.

401(k) 96