Benefit Resource Inc.

JANUARY 3, 2023

If you’re in the 70% of people who have health-related goals for 2023, let’s take a look at how pre-tax benefits can help set goals and prioritize your health this year and beyond. As we begin 2023 fresh with optimism for achieving our goals — make sure you set yourself up for success by utilizing pre-tax benefits.

Utilities 98

Utilities Taxes Flexible Spending Account Flexible Spending 98

Griffin Benefits

NOVEMBER 1, 2022

The IRS has finally announced adjustments to 2023 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 $200 into their Health Care FSAs in 2023.

401(k) 82

401(k) Retirement Plan Health Savings Account Deductions 82

WEX Inc.

FEBRUARY 15, 2023

Did you recently elect to participate in a medical flexible spending account (FSA) ? What is a medical flexible spending account (FSA)? The 2023 contribution limit for medical FSAs is $3,050 per year. Do you want to learn even more about medical FSAs? Check out our podcast episode below!

Medical 98

Medical Flexible Spending Account Flexible Spending Taxes 98

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. 7,750 for family coverage (up $450).

401(k) 84

401(k) Deductions Deductible Flexible Spending Account 84

WEX Inc.

AUGUST 2, 2023

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.

Flexible Spending Account 98

Flexible Spending Account Deductions Deductible Health 98

McDermott Will & Emery Employee Benefits

OCTOBER 19, 2022

On October 18, 2022, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the applicable dollar limits for certain account-based health and welfare plans (see Rev. The post IRS Announces Cost-of-Living Adjustments for Health and Welfare Plans appeared first on EMPLOYEE BENEFITS BLOG.

Health and Welfare 98

Health and Welfare Flexible Spending Account Flexible Spending Salary 98

Benefit Resource Inc.

OCTOBER 31, 2022

Commuter benefits, flexible spending accounts, dependent care, and health savings accounts are just a few of the great employee benefits available to help you save money and reduce stress. And with commuter benefits, you can set aside up to $270 per month pretax ($280 per month in 2023) to pay for your commute.

Taxes 75

Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

McDermott Will & Emery Employee Benefits

OCTOBER 21, 2022

The Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social Security wage base for 2023.

Employee Benefits 98

Employee Benefits Flexible Spending Account Employment Health Savings Account 98

CorpStrat

FEBRUARY 22, 2023

People are already struggling to pay for the insurance premiums but on top of that, they’re afraid deductibles, prescriptions, and co-insurance might push them into the red. In 2023, having some money set aside to cover these out-of-pocket costs is critical for most employees. It’s no wonder that they’re struggling.

Flexible Spending Account 52

Flexible Spending Account Out of Pocket Cost Flexible Spending Deductions 52

Genesis HR Solutions

MAY 23, 2023

As our team’s senior HR business partner, I’ve noticed several new and interesting hiring trends in 2023 in addition to some of the standard practices of the past. Hiring Trends In 2023 Below, I present hiring trends across various categories to help you formulate a comprehensive approach that works best for you. up from 8.6%

Insurance 40

Insurance PTO Human Resources Flexible Spending 40

Higginbotham

NOVEMBER 28, 2022

Unlike Flexible Spending Accounts (FSAs), which are owned by employers, individuals own HSAs. To contribute to an HSA, you must enroll in a high-deductible health plan. In 2022, Healthcare.gov says a high-deductible plan has a deductible of at least $1,400 for individual coverage and $2,800 for family coverage.

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductions Deductible 52

McDermott Will & Emery Employee Benefits

NOVEMBER 10, 2023

On November 9, 2023, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the applicable dollar limits for certain health and welfare plan benefits, including those for health flexible spending arrangements and commuter benefit plans, among other important updates.

Health and Welfare 105

Health and Welfare Employee Benefits Flexible Spending Flexible Spending Account 105

HR Professionals Magazine

MARCH 2, 2022

Insurance ID Cards – Insurance ID cards must include in-network and out-of-network deductibles, out-of-pocket maximums and a telephone number and website address for assistance. But employers should get their proverbial game faces on, act now and get ahead to ensure compliance, because new requirements are sure to pop up in 2023.

Out of Pocket Cost 52

Out of Pocket Cost Flexible Spending Account Deductions Deductible 52

Flimp Communications

SEPTEMBER 25, 2024

Check it out here → According to a 2023 KFF survey: 35% of insured people aren’t sure what their insurance will cover. 25% can’t define terms such as “deductible” or “copay.” A health savings account (HSA) or flexible spending account (FSA) will let you pay your drug copays with pre-tax dollars.

Health Insurance 52

Health Insurance Insurance Health Savings Account Flexible Spending Account 52

AssuredPartners

OCTOBER 18, 2022

2022-38 the annual inflation adjustments for the 2023 tax year. For 2023, the dollar limit cap is permitted to increase (by $200) from $2,850 to $3,050. For example, an employer could opt to cap employee contributions for 2023 at $2,500 instead but cannot set the limit at $3,100 in defiance of the ACA’s provisions.

Healthcare 52

Healthcare Flexible Spending Account Health Savings Account Flexible Spending 52

WEX Inc.

APRIL 3, 2023

Those enrolled in an HSA or a medical flexible spending account (FSA) may also be able to enroll in certain types of HRAs. We support flexible plan designs, empowering you to determine your own benefits goals for your participants by letting you set up your HRA to look however you want. Investment potential.

Health Savings Account 52

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

Higginbotham

NOVEMBER 2, 2022

Employee Benefit Plan Limits for 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); 401(k) plans; and. Click here to view the plan limits.

401(k) 52

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

Insperity

MARCH 12, 2024

Flexible spending accounts (FSAs) and health savings accounts (HSAs) HSAs and FSAs can help employees better prepare for medical expenses and, in the case of HSAs, even help employees enhance their retirement savings. Bureau of Labor Statistics (BLS) , private-sector employers spend an average of $2.86

Family and Medical Leave Act 59

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

Higginbotham

MAY 11, 2023

FAQs Provide Guidance on Preventive Care Following Court Decision The ACA requires non-grandfathered health plans and health insurance issuers to cover a set of recommended preventive services without imposing cost-sharing requirements (such as deductibles, copayments or coinsurance) when the services are provided by in-network providers.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Deductions Deductible 52

AssuredPartners

NOVEMBER 12, 2021

For cafeteria plans that allow for the carryover of unused amounts, the maximum carryover amount is now permitted to increase by $20, now capped at $570 (for 2022 rollovers into 2023 plans). Health Savings Accounts and High Deductible Health Plans. This applies to qualified parking and transit benefits alike.

Healthcare 73

Healthcare Flexible Spending Account Health Savings Account Flexible Spending 73

Vantage Circle

NOVEMBER 23, 2023

In this, employees can elect to have a portion of their earnings automatically deducted from their paychecks and directed into their investment account. Financial Perks:Bonuses, stock options, or profit-sharing programs In PwC’s 2023 survey on employee money worries, 60% of all workers feel stressed about their finances.

Family and Medical Leave Act 65

Family and Medical Leave Act 401(k) Retirement Plan roth 401(k) 65

WEX Inc.

FEBRUARY 2, 2023

Earlier this week, President Biden informed Congress that he plans to end the two COVID-19 national emergencies on May 11, 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).

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account Taxes 52

Fringe Benefit Analysts

JANUARY 25, 2021

Some of the changes are effective now , and some will become effective in 2022 and 2023. Trillion Act is one of the largest spending measures ever enacted and is one of the longest bills ever passed by Congress. Employers should consider the follow parts of The Act that will affect you and your employees !

Family and Medical Leave Act 40

Family and Medical Leave Act Paid Leave Health Insurance Insurance Carriers 40