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) 85

401(k) Retirement Plan Health Savings Account Deductible 85

International Foundation of Employee Benefit Plans

MAY 17, 2023

According to a survey from The […] The post Workplace Benefits Valedictorians: What the Graduating Class of 2023 Want appeared first on Word on Benefits. and Canadian college graduates over the years.

Health Insurance 97

Health Insurance Insurance Employee Benefits Flexible Spending Account 97

WEX Inc.

OCTOBER 15, 2024

“Health savings accounts are booming in popularity, with total assets eclipsing $123 billion in 2023 – nearly triple from just five years earlier – and yet they’re still widely misunderstood,” said Robert Deshaies, Chief Operating Officer of Benefits at WEX.

401(k) 52

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

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. If you’re a first-time medical FSA participant, you may not be familiar with FSA definitions and rules.

Medical 98

Medical Flexible Spending Account Flexible Spending Taxes 98

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. Increase from 2022 to 2023. Increase from 2022 to 2023. Health FSAs.

Transportation 52

Transportation Flexible Spending Account Flexible Spending Health Savings Account 52

WEX Inc.

JULY 9, 2023

A dependent care flexible spending account lets participants set aside pre-tax dollars to help pay for dependent care. Big savings potential Let’s say you enroll and contribute $5,000 per year into a dependent care FSA in 2023. For married couples who file taxes separately, the 2023 limit is $2,500 per person per year.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Taxes Consulting 98

CorpStrat

JANUARY 17, 2023

Health flexible spending accounts (FSAs). DOWNLOAD OUR FREE PDF DETAILING 2023 LIMIT INCREASES: DOWNLOAD PDF. This Compliance Overview includes a chart of the inflation-adjusted limits for 2023. Due to high rates of inflation, all of these limits will substantially increase for 2023. 401(k) plans.

401(k) 52

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

WEX Inc.

NOVEMBER 27, 2024

Pre-tax employee benefits plans, such as HSAs and flexible spending accounts (FSAs) , let you save money by putting aside pre-tax dollars to pay for eligible medical, dental, vision and other expenses. In 2023, the average employer contribution to employee HSAs was $929.

Deductible 52

Deductible Deductions Health Savings Account Flexible Spending Account 52

WEX Inc.

AUGUST 14, 2023

A flexible spending account (FSA) carryover is one way you can provide flexibility to employees who participate in these accounts. The IRS permits employers to allow their employees to carry over up to $610 from their 2023 FSA (indexed annually, per IRS rules). We break down FSA carryovers below.

Flexible Spending Account 98

Flexible Spending Account IT 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. Here’s the rundown of the changes going into 2023: HSAs and HDHPs. For 2023, the annual maximum HSA contribution is: $3,850 for self-only coverage (up $200 from 2022); and.

401(k) 98

401(k) Deductible Deductions Flexible Spending Account 98

Proskauer's Employee Benefits & Executive Compensa

OCTOBER 25, 2022

On October 21 st , the IRS released a number of additional inflation adjustments for 2023, including to certain limits for qualified retirement plans. Earlier last week, the IRS announced the 2023 inflation adjustments for Flexible Spending Accounts and transportation fringe benefits, as discussed here. 15,000.

Retirement Plan 52

Retirement Plan 401(k) Flexible Spending Account Flexible Spending 52

WEX Inc.

AUGUST 10, 2023

You might be surprised to learn that your health savings account (HSA) and medical flexible spending account (FSA) can help you save on purchases of a variety of back-to-school, expenses, including: Thermometers. HSA Medical FSA This blog post was originally published in August 2022 and most recently updated in August 2023.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

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

WEX Inc.

JANUARY 3, 2023

2023 HSA limits announced The IRS announced significant increases to HSA contribution limits in 2023 as a result of rising inflation. Self-only HSA participants can contribute up to $3,850, while family HSA participants can set aside $7,750 in 2023. The post Happy 2023! This blog post will help you decide.

Education 52

Education Flexible Spending Account Health Savings Account Flexible Spending 52

Proskauer's Employee Benefits & Executive Compensa

NOVEMBER 20, 2023

On November 9th, the IRS announced additional inflation adjustments for 2024, including to the annual contribution and carryover limits for healthcare flexible spending accounts and the monthly limit for qualified transportation fringe benefits. The new limits are set forth below.

Transportation 59

Transportation Flexible Spending Account Flexible Spending Retirement Plan 59

CorpStrat

OCTOBER 26, 2022

workers reported that they will cut back on the Benefits they select during 2023’s Open Enrollment because of inflation. Let’s take the Health FSA Limit Increase for 2023 as an example. The post Inflation’s Impact on 2023 Open Enrollment appeared first on CorpStrat: HR | Payroll | Employee Benefits.

Flexible Spending Account 52

Flexible Spending Account Finance Flexible Spending Salary 52

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

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. This blog post was originally published in July 2021 and was most recently updated in August 2023.

Flexible Spending Account 98

Flexible Spending Account Deductible Deductions Health 98

Benefit Resource Inc.

OCTOBER 18, 2022

The IRS released the 2023 contribution limits for Mass Transit and Parking, Medical FSA, and Adoption Assistance in Revenue Procedure 2022-38. The limits are effective for plan years that begin on or after January 1, 2023. 2023 CONTRIBUTION LIMIT: MASS TRANSIT AND PARKING. 2023 CONTRIBUTION LIMIT: MEDICAL FSA.

Medical 52

Medical Taxes Flexible Spending Employment 52

Benefit Resource Inc.

OCTOBER 19, 2023

The results of BRI’s 2023 Participant Survey are in! Download Summary Results Audience Breakdown BRI’s 2023 Participant Survey was conducted from August 10th to September 1st. Download Summary Results Audience Breakdown BRI’s 2023 Participant Survey was conducted from August 10th to September 1st. 7% use a digital wallet.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Utilities Flexible Spending 52

Benefit Resource Inc.

SEPTEMBER 28, 2023

Jason Hall, Benefit Resource CEO & 2023 Luminaries Honoree Jason Hall, our esteemed leader, was also recognized in the Leadership category. The post BRI and Our CEO Selected for the BenefitsPRO Luminaries Class of 2023 appeared first on BRI | Benefit Resource.

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Flexible Spending Account Health Savings Account Taxes Flexible Spending 52

PeopleKeep

MAY 8, 2024

According to a 2023 Gallup survey, more Americans ate less healthy, had higher cholesterol, and received more diabetes diagnoses than before the COVID-19 pandemic 2. General wellness is becoming a top concern for Americans. Out of 169 countries, the U.S. ranks 35th for overall citizen health 1.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Flexible Spending Food 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

Benefits Notes

NOVEMBER 21, 2023

On November 1, 2023, the Internal Revenue Service (IRS) released Notice 2023-75 , which sets forth the 2024 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The 2023 limits are provided for reference. The following chart summarizes the 2024 limits for benefit plans.

401(k) 52

401(k) Health Savings Account Retirement Plan Deductible 52

WEX Inc.

JULY 7, 2023

The IRS’ use-or-lose rule governs flexible spending accounts (FSAs). A flexible spending account (FSA) is an employer-sponsored benefit that allows employees to set aside a portion of their pre-tax salary to pay for qualified medical expenses or dependent care expenses. So what is the use-or-lose rule? What is a FSA?

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account IT 52

Benefit Resource Inc.

APRIL 11, 2023

The National Emergency was terminated effective April 10, 2023, placing the Outbreak Period’s end as June 9, 2023.  Taking into consideration the 12 months and the official Pandemic period ending as of April 10, 2023. The last day to submit claims would be September 7, 2023.

Flexible Spending Account 52

Flexible Spending Account Healthcare Flexible Spending Employment 52

Vantage Circle

SEPTEMBER 11, 2023

5 Source Features Health, dental, and vision insurance Life and disability insurance 401(k) retirement plans Health savings accounts Flexible spending accounts Workers’ compensation insurance Commuter benefits, gym memberships, and mental health assistance.

Employee Benefits 52

Employee Benefits Payroll Retirement Plan Software 52

CorpStrat

FEBRUARY 22, 2023

In 2023, having some money set aside to cover these out-of-pocket costs is critical for most employees. A Flexible Spending Account at its core is a tool that allows an individual to set aside money to pay these out of pocket expenses with pre-tax dollars allocated for the year. Healthcare costs have risen faster than inflation.

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Flexible Spending Account Out of Pocket Cost Flexible Spending Deductible 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

WEX Inc.

AUGUST 24, 2023

It’s important not to lose sight of that when developing content and communicating that you offer a health savings account (HSA) , flexible spending account (FSA) , or any other benefits. employees planning to leave their jobs in 2023. That’s what motivates your employees.

Education 52

Education Flexible Spending Account Health Savings Account Flexible Spending 52

Higginbotham

SEPTEMBER 12, 2023

Pay or Play Affordability Percentage Decreased for 2023 On Aug. 23, 2023, the IRS issued Revenue Procedure 2023-29 to index the contribution percentages in 2024 for determining the affordability of an employer’s plan under the Affordable Care Act (ACA). percent in 2023). 15, 2023 – i.e. – by October 14.

Electronics 52

Electronics Overtime Flexible Spending Account Salary 52

Griffin Benefits

OCTOBER 1, 2022

After this year, reporting will be due by June 1 for the prior calendar year (so reporting for 2022 will be due by June 1, 2023). Additionally, account-based plans, like health reimbursement arrangements (HRAs) and health care flexible spending accounts (FSAs), are not required to report. Excepted benefits (e.g.,

Insurance Carriers 67

Insurance Carriers Employment Flexible Spending Account Insurance 67

Higginbotham

MARCH 17, 2023

ACA Pay or Play Penalties Will Increase for 2024 On March 9, 2023, the IRS released updated penalty amounts for 2024 related to the employer shared responsibility (pay or play) rules under the Affordable Care Act (ACA). 31, 2023 On Feb. 31, 2023 On Feb. 31, 2023, covering the period beginning Dec.

Health Insurance 52

Health Insurance Flexible Spending Account Insurance Benefits Package 52

Benefit Resource Inc.

MARCH 20, 2024

In 2023, BRI was acquired by Millennium Trust, a leading provider of health, wealth, retirement, and benefits solutions. Being named Partner of the Year recognizes BRI’s dedication to providing seamless integration with ADP solutions, delivering a more unified experience for organizations and their employees.

Health Savings Account 52

Health Savings Account Flexible Spending Account Flexible Spending Taxes 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.

Health Savings Account 52

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

Benefit Resource Inc.

JANUARY 31, 2023

BRI is offering a new Health Account Outlook Series, which will run from February 2023 through April 2023. Join Benefit Resource (BRI) for our webinar ‘‘Leverage Employee Insights for a Strategic Approach to Health Accounts ‘ on Tuesday, February 14th at 1:00 PM EDT. Making the moments matter.

Flexible Spending 52

Flexible Spending 52

Higginbotham

SEPTEMBER 16, 2024

However, unlike Flexible Spending Accounts (FSAs), HSAs are owned by the employee, and unused funds never expire. HDHPs Are Increasingly Popular According to KFF’s 2023 Employer Health Benefits Survey, enrollment in high-deductible health plans has increased over the last decade.

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Deductible Deductions Health Savings Account Health Insurance 52