Benefit Resource Inc.

JANUARY 3, 2023

Whether you’re looking to retire, advance your career, or prioritize your health, now is the perfect time to start planning your journey. 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.

Utilities 98

Utilities Taxes Flexible Spending Account Flexible Spending 98

Proskauer's Employee Benefits & Executive Compensa

JANUARY 31, 2023

The Consolidated Appropriations Act of 2023 (“CAA 2023”), signed into law on December 29, introduced sweeping reforms to the employee benefits landscape. Not only do the CAA 2023’s “SECURE 2.0” Generally, a participant must pay their HDHP’s deductible before the plan can cover medical services. cut scheduled for 2024.

Deductions 98

Deductions Deductible Health Savings Account Retirement Plan 98

WEX Inc.

MAY 17, 2023

2024 HDHP minimum deductible and maximum out-of-pocket limits also are increasing. Health savings account (HSA) contribution limits are on the rise again in 2024. These are increases of $300 and $550, respectively, from 2023 HSA contribution limits. It is not legal or tax advice. With an HSA. Learn more!

Health Savings Account 98

Health Savings Account Deductions Deductible Taxes 98

Benefit Resource Inc.

OCTOBER 31, 2022

But, there’s one thing that doesn’t have to be scary this Halloween —your pre-tax benefits! 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.

Taxes 75

Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

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). DOWNLOAD OUR FREE PDF DETAILING 2023 LIMIT INCREASES: DOWNLOAD PDF. Health FSA carryover limit.

401(k) 52

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

Snell & Wilmer Benefits

JANUARY 24, 2023

If you sponsor a high deductible health plan (“HDHP”) and have been tracking telehealth relief, your head may be spinning and rightfully so! There have been various laws and guidance impacting HDHPs and telehealth since 2020 and most recently, new legislation extended relief for 2023 and 2024 plan years.

Deductions 52

Deductions Deductible Family and Medical Leave Act Health and Welfare 52

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

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

Griffin Benefits

JUNE 7, 2023

On May 16, 2023, the IRS released Revenue Procedure 2023-23 to provide the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2024. HSA/HDHP Limits The following chart shows the HSA and HDHP limits for 2024 as compared to 2023.

Health Savings Account 77

Health Savings Account Deductions Deductible Taxes 77

Snell & Wilmer Benefits

JANUARY 24, 2023

If you sponsor a high deductible health plan (“HDHP”) and have been tracking telehealth relief, your head may be spinning and rightfully so! There have been various laws and guidance impacting HDHPs and telehealth since 2020 and most recently, new legislation extended relief for 2023 and 2024 plan years.

Deductions 40

Deductions Deductible Family and Medical Leave Act Health and Welfare 40

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) 85

401(k) Deductions Deductible Flexible Spending Account 85

InterWest Insurance Services

DECEMBER 7, 2023

Earlier in 2023, the IRS also announced the maximum contribution limits to health savings accounts, which are similar to FSAs, but they must be attached to a high-deductible health plan. Employees are not taxed on withdrawals from their account.

Flexible Spending Account 88

Flexible Spending Account Flexible Spending Pharmaceutical Health Savings Account 88

InterWest Insurance Services

JUNE 8, 2023

The IRS has raised the maximum amount people can funnel into their health savings accounts by 7.8% The IRS updates this amount annually, along with minimum deductibles as well as the out-of-pocket maximums for high-deductible health plans. You are not taxed on withdrawals.

Deductions 52

Deductions Deductible Health Savings Account Medical 52

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. FSAs are an employer-owned account , and the IRS sets limits on annual FSA contributions.

Flexible Spending Account 98

Flexible Spending Account Deductions Deductible Health 98

InterWest Insurance Services

JANUARY 18, 2024

With more than half of all private sector employees enrolled in high-deductible health plans , it’s important that employers have in place certain protocols to ensure that they are a success. HSAs are tax-advantaged accounts that allow enrollees to save up to pay qualified medical expenses.

Out of Pocket Cost 58

Out of Pocket Cost Deductions Deductible Voluntary Benefits 58

Higginbotham

NOVEMBER 28, 2022

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)? An HSA is a special type of savings account.

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductions Deductible 52

InterWest Insurance Services

JUNE 2, 2023

Employers offer flexible savings accounts and health savings accounts to their employees so they can build up funds with pre-tax dollars to pay for health care and related expenses. In 2023, the maximum an employee can carry over is $610.

Out of Pocket Cost 95

Out of Pocket Cost Health Savings Account Medical Health Insurance 95

Higginbotham

DECEMBER 8, 2023

As rising health care costs and inflation place pressure on both corporate and personal budgets, employers and workers alike are looking for ways to save money without sacrificing quality employee benefits. A Premium Only Plan is an option that may offer significant tax savings for all involved parties. Only $29.86

Deductions 52

Deductions Deductible Taxes Payroll 52

Higginbotham

JUNE 9, 2023

P CORI Fees Due July 31, 2023 The Affordable Care Act (ACA) requires health insurance issuers and self-insured plan sponsors to pay Patient-Centered Outcomes Research Institute fees (PCORI fees). The fees are reported and paid annually using IRS Form 720 (Quarterly Federal Excise Tax Return). 1, 2023 technically ended on Dec.

Deductions 52

Deductions Deductible Health Insurance Taxes 52

PeopleStrategy

DECEMBER 12, 2023

Let’s get into these areas that deserve another look before the new year starts: health savings accounts, overtime, retirement, remote employment, and the Affordable Care Act. HSA Compliance Health savings accounts (HSAs) have become commonplace in the last several years as a way to offset high deductible health plans.

401(k) 52

401(k) Overtime Health Savings Account Retirement Plan 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 Flexible Spending Human Resources 40

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 79

Health and Welfare Flexible Spending Account Flexible Spending Salary 79

InterWest Insurance Services

MARCH 7, 2024

If you have staff with health savings accounts, they still have until April 15 to make additional contributions to their accounts if they want to reduce their tax bills for last year. Under IRS rules, for 2023 employers and employees can contribute a combined $3,850 for single employees and $7,750 for families.

401(k) 86

401(k) Health Savings Account Pharmaceutical Deductions 86

Griffin Benefits

DECEMBER 30, 2022

On nearly the eve of its expiration, Congress has extended the ability of high deductible health plans (“HDHPs”) to offer first-dollar telehealth coverage through plan years beginning before January 1, 2025. Any HDHP that does not have a calendar plan year would have a similar gap between January 1, 2023 and its plan year start.

Deductions 81

Deductions Deductible Health Savings Account Taxes 81

WEX Inc.

APRIL 3, 2023

Health reimbursement arrangements (HRAs) and health savings accounts (HSAs) are great tools for you and your employees to save money, and for your employees to prepare for potential medical expenses. For employers, HRAs or HSAs come with perks, including tax savings and increased employee retention.

Health Savings Account 52

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

InterWest Insurance Services

DECEMBER 29, 2023

Workers at smaller firms, defined as those with fewer than 200 employees, are especially affected as they typically have to pay a larger share of the family coverage premium than their large-employer counterparts (38% vs. 25%), according to the 2023 Kaiser Family Foundation “Employer Health Benefits Survey.”

Deductions 83

Deductions Deductible Out of Pocket Cost Health Savings Account 83

InterWest Insurance Services

AUGUST 1, 2023

Besides the above, you will also need to decide if you want to reduce the premium for your organization and staff by offering high-deductible health plans. These plans can be either an HMO or a PPO, but they have the same feature of having a high deductible that needs to be met before benefits really kick in.

Family and Medical Leave Act 95

Family and Medical Leave Act Out of Pocket Cost Deductions Deductible 95

InterWest Insurance Services

AUGUST 22, 2023

Besides the above, you will also need to decide if you want to reduce the premium for your organization and staff by offering high-deductible health plans. These plans can be either an HMO or a PPO, but they have the same feature of having a high deductible that needs to be met before benefits really kick in.

Family and Medical Leave Act 90

Family and Medical Leave Act Out of Pocket Cost Deductions Deductible 90

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. Although, it should of course be noted that employers have the right to impose a maximum limit on employee contributions to health FSAs that is lower than what the ACA permits.

Healthcare 52

Healthcare 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. Funds can be withdrawn for non-eligible expenses, but they will be taxed.)

Family and Medical Leave Act 58

Family and Medical Leave Act Employee Benefits PTO 401(k) 58

AssuredPartners

AUGUST 23, 2022

While most of the IRA was focused on tax reform, climate change, and healthcare costs, there was a significant provision included that can be used to protect a taxpayer’s HSA (Health Savings Account), while also expanding coverage for insulin. So, calendar year plans may adopt these changes for January 1, 2023.

Health Savings Account 98

Health Savings Account Deductions Deductible Healthcare 98

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

Higginbotham

MAY 5, 2022

HSA/HDHP Limits, ACA Maximum Out of Pocket Increase for 2023. On April 29, 2022, the IRS released Revenue Procedure 2022-24 to provide the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2023. HSA/HDHP Limits. Employer Takeaway.

Family and Medical Leave Act 52

Family and Medical Leave Act Deductions Deductible Health Savings Account 52

AssuredPartners

NOVEMBER 12, 2021

2021-45 the annual inflation adjustments for the 2022 tax year. 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.

Healthcare 73

Healthcare Flexible Spending Account Health Savings Account Flexible Spending 73

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. trillion spending bill also extended a provision that provided relief to health savings account (HSA) participants. It is not legal or tax advice.

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account Taxes 52

WEX Inc.

JULY 24, 2023

And it’s a solution you might already be offering: the health savings account. These accounts provide another way for your employees to diversify their efforts to prepare for retirement. HSA contributions made through payroll are not subject to the 7.65% FICA tax. Why HSAs for retirement planning? Yes,” Cook said.

Retirement Plan 98

Retirement Plan 401(k) Health Savings Account Taxes 98

Joe Markland

OCTOBER 11, 2020

Over the past 6 years I have published several articles on the need to personalize health insurance (and get the employer out of the way) by making an individual insurance policy tax deductible. Employers are forcing employees to pay more for health insurance leaving less money to pay for actual health care.

Health Insurance 130

Health Insurance Insurance Health Savings Account Employment 130