WEX Inc.

MAY 2, 2024

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.

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Health Savings Account 401(k) Flexible Spending Account Taxes 98

Higginbotham

SEPTEMBER 16, 2024

While not ideal for everyone, a high-deductible health plan can be very appealing to some workers, especially when it’s paired with a health savings account. Offering a high-deductible health plan as part of an employee benefits package, therefore, may be a strategic option for your organization.

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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. Employers’ contributions to employees’ HSAs are tax deductible.

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

WEX Inc.

NOVEMBER 27, 2024

Nearly two-thirds of large employers provide their employees with the choice of a high-deductible health plan (HDHP) and a traditional health plan, such as a preferred provider organization (PPO), during open enrollment. The IRS sets deductible limits that determine what is an HDHP. But there are high-deductible PPOs, as well.

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Deductible Deductions Health Savings Account Flexible Spending Account 52

WEX Inc.

JUNE 13, 2024

Flexible spending accounts (FSAs) allow your employees to use pre-tax dollars to cover eligible out-of-pocket healthcare expenses, providing a tax-efficient way to manage medical costs and helping you and your employees save money. Combination FSA: A limited FSA that converts into a medical FSA once the IRS deductible is met.

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Flexible Spending Account Flexible Spending Health Savings Account Taxes 52

Higginbotham

JANUARY 12, 2024

Health Savings Account A Health Savings Account (HSA) is a type of employee-owned account that is designed to work with high-deductible health insurance plans. Cons to an HSA Individuals who are not enrolled in high-deductible health plans cannot open or contribute to HSAs.

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Flexible Spending Account Health Savings Account Deductible Deductions 52

Higginbotham

NOVEMBER 2, 2022

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. Transportation fringe benefit plans. EEOC Fact Sheet: FAQs on New “Know Your Rights” Poster .

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

WEX Inc.

FEBRUARY 2, 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). trillion spending bill also extended a provision that provided relief to health savings account (HSA) participants.

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Flexible Spending Account Flexible Spending Health Savings Account Taxes 52

WEX Inc.

OCTOBER 17, 2024

As we approach the 2024 United States presidential election, Chris Byrd, senior vice president, health executive and, more broadly, head of Government Affairs at WEX, joined our Benefits Buzz podcast for an insightful conversation on how election years can influence employee benefits.

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