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

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

WEX Inc.

MARCH 7, 2023

We wanted to share a few tips and reminders about the health savings account (HSA) information you’ll need for your tax return. HSA administrators have until May 31, 2023 to issue Form 5498-SA to HSA participants. The season for filing taxes is upon us once again. On the other hand, a 5498-SA reports contributions.

Taxes 98

Taxes Health Savings Account Deductible Deductions 98

WEX Inc.

NOVEMBER 27, 2024

You must be enrolled in an HDHP to be eligible to participate in a health savings account (HSA). PPOs are a common type of traditional health plan. In 2023, the average employer contribution to employee HSAs was $929. The IRS sets deductible limits that determine what is an HDHP. What’s a PPO?

Deductible 52

Deductible Deductions Health Savings Account Flexible Spending Account 52

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

Best Money Moves

OCTOBER 22, 2024

According to the 2023-2024 Aflac WorkForces Report, 50% of workers report anxiety about out-of-pocket health care expenses, even beyond what insurance covers. Furthermore, 51% of employees would need to dip into their savings or checking accounts for unexpected medical bills.

Out of Pocket Cost 59

Out of Pocket Cost Healthcare Health Savings Account Medical 59

WEX Inc.

MAY 17, 2023

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. HSA 2023 2024 Self-only contribution limit $3,850 $4,150 Family contribution limit $7,750 $8,300 What are the 2024 HDHP amounts/limits?

Health Savings Account 98

Health Savings Account Deductible Deductions Taxes 98

WEX Inc.

OCTOBER 4, 2023

The 20th anniversary of health savings accounts (HSAs) marks a significant milestone for these accounts, which have empowered tens of millions of Americans to save for both immediate and future medical expenses. The post HSA Day 2023: Celebrating 20 years of HSAs appeared first on WEX Inc.

Health Savings Account 64

Health Savings Account Healthcare Education Taxes 64

InterWest Insurance Services

AUGUST 26, 2023

WHEN: Tuesday, October 17, 2023 12:00 PM – 1:00 PM JOIN US: InterWest is a proud sponsor of Summit Employee Benefits Online education. In partnership, we are offering access to the upcoming complimentary webinar. SESSION DETAILS: In honor of October’s HSA awareness month, this month’s webinar will focus on HSAs.

Health Savings Account 40

Health Savings Account Education Employee Benefits Employment 40

WEX Inc.

MAY 10, 2024

Health savings account (HSA) contribution limits are on the rise again in 2025. EBHRA 2024 2025 Limit $2,100 $2,150 The state of HSAs today Devenir’s 2023 year-end HSA research report shows there are $123 billion in HSA assets nationwide in more than 37 million accounts.

Health Savings Account 105

Health Savings Account Deductible Deductions Taxes 105

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) 98

401(k) Health Savings Account Pharmaceutical Deductible 98

Money Talk

JUNE 13, 2024

With the 2023 tax filing deadline in the rear view mirror, now is a good time to look ahead to 2024 taxes that you will owe in April 2025. Consult a Tax Professional - Consider consulting with a tax professional or financial advisor for personalized guidance and advice.

Taxes 125

Taxes 401(k) Retirement Plan Health Savings Account 125

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” Not only do the CAA 2023’s “SECURE 2.0” CAA 2023 reduced these cuts to 2% in 2023, with another 1.5%

Deductible 98

Deductible Deductions Health Savings Account Retirement Plan 98

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. Are you preparing to send your kids back to school soon?

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 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) 98

401(k) Deductible Deductions Flexible Spending Account 98

Best Money Moves

DECEMBER 9, 2024

Additionally, 62% of employees in the survey noted that retirement plans contributed the most to their financial security, which was up from 56% in 2023. Creative solutions (such as student loan debt assistance and tax-advantaged health savings accounts) may be the key to supplementing your current retirement benefits.

roth 401(k) 52

roth 401(k) 401(k) Benefits Package Paid Leave 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). DOWNLOAD OUR FREE PDF DETAILING 2023 LIMIT INCREASES: DOWNLOAD PDF. 401(k) plans.

401(k) 52

401(k) Employee Benefits Flexible Spending Account Health Savings Account 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. IRS Publication 969 outlines health savings accounts. It was most recently updated in July 2023.

Retirement Plan 98

Retirement Plan 401(k) Health Savings Account Taxes 98

Benefits Notes

OCTOBER 24, 2022

On October 21, 2022, the Internal Revenue Service (IRS) released Notice 2022-55 , which sets forth the 2023 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The following chart summarizes the 2023 limits for benefit plans. The 2022 limits are provided for reference. .

401(k) 52

401(k) Deductible Deductions Health Savings Account 52

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

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.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Pharmaceutical Health Savings Account 98

InterWest Insurance Services

AUGUST 5, 2022

As the 2023 group health open enrollment season nears, more employers have heard concerns among their staff and are focusing on affordability and easier access to health care services, according to a new study. The survey found that 70% of all large employers were planning benefit enhancements for 2023.

Health Insurance 98

Health Insurance Insurance Deductible Deductions 98

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 80

Health Savings Account Deductible Deductions Taxes 80

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

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 98

Out of Pocket Cost Health Savings Account Medical Health Insurance 98

WEX Inc.

JANUARY 3, 2023

Fortunately, your health savings account (HSA) is an employee-owned account, so it stays with you, even when you switch employers. 2023 HSA limits announced The IRS announced significant increases to HSA contribution limits in 2023 as a result of rising inflation. The post Happy 2023!

Education 52

Education Flexible Spending Account Health Savings Account Flexible Spending 52

InterWest Insurance Services

FEBRUARY 20, 2024

The average HDHP deductible for self-only coverage was $2,000 in 2023, while the minimum deductible that a plan must have to qualify as an HDHP is $1,600 ($3,200 for family coverage). The key to ensuring that the HDHP is a success in part comes down to avoiding four common mistakes.

Deductible 98

Deductible Deductions Out of Pocket Cost Health Savings Account 98

InterWest Insurance Services

MAY 18, 2023

Key to HDHP satisfaction The key to successfully navigating an HDHP comes down to educating yourself in how these plans work, the trade-off between higher out-of-pocket costs and lower premiums, and the importance of taking some of those premium savings and socking them away in a health savings account.

Out of Pocket Cost 98

Out of Pocket Cost Health Savings Account Deductible Deductions 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. Commuting by public transportation can save you money on gas as well as wear and tear on your car. Howling Good HSAs.

Taxes 75

Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

InterWest Insurance Services

JANUARY 11, 2024

With health care costs expected to jump 7% this year from the 2023 level and insurance premiums reflecting that increase, many employers will be challenged to balance benefit options with cost-controlling measures, according to the report. Making larger health savings account contributions to lower-paid employees.

Employment 97

Employment Health Savings Account Medical Insurance 97

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.”

Out of Pocket Cost 98

Out of Pocket Cost Deductible Deductions Health Savings Account 98

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. This will allow participants receiving this coverage to continue to contribute to a health savings account (“HSA") for this purpose.

Deductible 84

Deductible Deductions Health Savings Account Taxes 84

InterWest Insurance Services

AUGUST 1, 2023

These plans usually have an attached health savings account to which your workers can transfer funds pre-tax from their paychecks to use for paying deductibles, copays and other medical expenses. For 2024, for a plan to qualify as an HDHP the deductible must be at least $1,400 for an individual and $2,800 for a family.

Family and Medical Leave Act 98

Family and Medical Leave Act Out of Pocket Cost Deductible Deductions 98

WEX Inc.

AUGUST 2, 2023

There are four common types of accounts: Medical FSA, which covers eligible medical, dental and vision expenses. Unlike a medical FSA, a limited FSA can be paired with a health savings account (HSA) and a high-deductible health plan (HDHP). Check out our Benefits Toolkit on our website.

Flexible Spending Account 98

Flexible Spending Account Deductible Deductions Health 98

InterWest Insurance Services

AUGUST 22, 2023

These plans usually have an attached health savings account to which your workers can transfer funds pre-tax from their paychecks to use for paying deductibles, copays and other medical expenses. For 2024, for a plan to qualify as an HDHP the deductible must be at least $1,400 for an individual and $2,800 for a family.

Family and Medical Leave Act 98

Family and Medical Leave Act Out of Pocket Cost Deductible Deductions 98

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.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Taxes Flexible Spending 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