Empuls

AUGUST 27, 2024

Now more than ever, employee benefit packages are considered important for the unwieldy terrain of today's job market. Only those organizations that understand how to use this most powerful approach to their advantage by including comprehensive benefits in kind do well in the market for acquiring and retaining key brainpower.

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Family and Medical Leave Act Employee Benefits 401(k) Benefits Package 40

McDermott Will & Emery Employee Benefits

NOVEMBER 19, 2024

The Consolidated Appropriations Act (CAA), 2023 (Public Law 117-328), extended certain key virtual care flexibilities instituted during the COVID-19 public health emergency through December 31, 2024. This includes the telehealth safe harbor for health savings account-eligible high deductible health plans.

Health Savings Account 52

Health Savings Account Deductions Deductible Health and Welfare 52

WEX Inc.

MAY 17, 2023

Key takeaways - 2024 HSA contribution limits 2024 HSA contribution limits will increase to $4,150 and $8,300 for self-only and family HSAs, respectively. 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.

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Health Savings Account Deductions Deductible Taxes 98

InterWest Insurance Services

FEBRUARY 11, 2024

June 18, 2024 12:00 PM – 1:00 PM JOIN US: InterWest is a proud sponsor of Summit Employee Benefits Online education. SESSION DETAILS: As more and more employers offer at least one HDHP option, employers play a role in educating their employees about HSAs.

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Health Savings Account Education Employee Benefits Employment 52

Best Money Moves

DECEMBER 9, 2024

As 2024 comes to a close, HR professionals are rethinking benefits strategy going into next year. This past year has been shaped by major financial uncertainty and advancements, influencing the benefits trends going into next year. All of these factors mean that employee needs are changing.

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WEX Inc.

MAY 2, 2024

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 98

Health Savings Account 401(k) Flexible Spending Account Taxes 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. Traditional Health Plan Calculator , which lets you input your annual doctor visit and prescription expenses to see the plan that’s right for you. What’s a PPO?

Deductions 52

Deductions Deductible Health Savings Account Flexible Spending Account 52

InterWest Insurance Services

JULY 4, 2024

workers choosing high-deductible health plans has leveled off during the last two years, uptake has been growing rapidly among one segment of the working population: Gen Z employees. The plans are typically tied to a health savings account (HSA), which employees can fund with pre-tax dollars to reimburse for health-related expenses.

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Voluntary Benefits Flexible Spending Account Deductions Deductible 97

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. cut scheduled for 2024. Mental Health Parity Enforcement. Not only do the CAA 2023’s “SECURE 2.0” Not only do the CAA 2023’s “SECURE 2.0”

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Deductible Deductions Health Savings Account Retirement Plan 98

Employee Benefits

JUNE 28, 2024

Nearly half (49%) of employers said they believe they are supporting their workforce’s financial wellbeing , while only 28% of employees agree, according to new research by Payroll Integrations. It’s up to employers to determine where to best put their resources to better support employees on their financial wellness journey.”

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Retirement Plan Health Savings Account Health Insurance Employment 88

InterWest Insurance Services

NOVEMBER 25, 2022

The IRS has released the 2023 maximum contribution amounts for health savings accounts and flexible spending accounts. You’ll want to make note of the changes when discussing your employee benefits during annual open enrollment. The catch: These funds must be spent by March 15, 2024.

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401(k) Deductions Deductible Flexible Spending Account 98

CorpStrat

JANUARY 22, 2024

As we settle into 2024, many teams have recently renewed their Employee Benefits plans. It’s the perfect time to take a closer look and remind your employees about the fantastic, often underutilized benefits these plans offer. Communicating these benefits effectively is equally important as providing them.

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Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

InterWest Insurance Services

JUNE 8, 2023

The IRS has raised the maximum amount people can funnel into their health savings accounts by 7.8% for 2024, the largest increase ever, brought to you by inflation. The IRS updates this amount annually, along with minimum deductibles as well as the out-of-pocket maximums for high-deductible health plans.

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Deductions Deductible Health Savings Account Medical 52

InterWest Insurance Services

JULY 6, 2023

The study’s authors noted that there are other benefits besides just cost savings. Bipartisan legislation in Congress, the Telehealth Benefit Expansion for Workers Act, would make these waivers permanent and allow employers to offer stand-alone plans to their workers.

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Insurance Out of Pocket Cost Hospitality Health Savings Account 95

Empuls

FEBRUARY 26, 2024

  Workplace dynamics are constantly evolving, the year 2024 promises a revolutionary shift in how organizations approach employee experience. From well-being to flexibility, continuous learning to personalized perks, let's understand the game-changing employee benefits trends that will take lead in the near future.

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Empuls

DECEMBER 24, 2024

While salary is important, employees increasingly value benefits that improve their work-life balance and financial security. According to WTW’s 2024 Global Benefits Attitudes Survey , 75% of employees are likelier to stay with an employer offering a strong benefits program.

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Retirement Plan Health Insurance Benefits Package Healthcare 40

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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Proskauer's Employee Benefits & Executive Compensa

DECEMBER 19, 2024

Important UpdatePre-Deductible Telehealth HSA Relief Ends on December 31, 2024 : As discussed in our post below, although extension of the telehealth safe harbor was included in various bill drafts, the year-end spending bill signed into law on December 21, 2024 (American Relief Act, 2025) does not include pre-deductible telehealth relief.

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Deductible Deductions Health Savings Account Taxes 40

Snell & Wilmer Benefits

JANUARY 24, 2023

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. For calendar year plans, this extension means that the plan may offer the telehealth relief for the 2023 and 2024 plan years. The 2023 CAA telehealth relief is temporary.

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Deductible Deductions Family and Medical Leave Act Health and Welfare 52

Higginbotham

NOVEMBER 2, 2022

Employee Benefit Plan Limits for 2023. Many employee benefits are subject to annual dollar limits that are adjusted for inflation by the IRS each year. As a reminder, the updated $610 FSA carryover limit is for amounts carried over from the 2023 plan year into 2024, not 2022 into 2023.

401(k) 52

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

Higginbotham

JANUARY 12, 2024

Health accounts can provide advantages to both the employer and the employee, including the following: Flexibility: It’s hard to find employee benefits that fit everyone’s needs. For 2024, the contribution limit for self-only coverage is $4,150 and the contribution limit for family coverage is $8,300.

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Flexible Spending Account Health Savings Account Deductions Deductible 52

WEX Inc.

JUNE 13, 2024

Here are the four most common types of FSAs: Medical FSA: Allows employees to use pre-tax dollars to cover eligible medical expenses,dental, and vision expenses. Limited medical FSA: Similar to a medical FSA, but can be paired with high-deductible health plans (HDHPs) and health savings accounts (HSAs) , covering dental and vision expenses.

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Proskauer's Employee Benefits & Executive Compensa

JUNE 27, 2023

Notice 2023-37 confirms that an HDHP can provide pre-deductible coverage of COVID-19 testing and treatment for plan years ending on or before December 31, 2024. Yes, for a limited time. For subsequent plan years, the HDHP may continue to cover COVID-19 testing and treatment subject to the plan’s minimum deductible.

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HR Professionals Magazine

MARCH 6, 2023

A stand-alone group health plan would have to ensure it does not provide zero or low-cost benefits below the IRS minimum deductible to preserve participants in the HDHP’s ability to fund a health savings account (HSA). There may still be significant risk. Stacey Stewart.

Medical 52

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Snell & Wilmer Benefits

JANUARY 24, 2023

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. For calendar year plans, this extension means that the plan may offer the telehealth relief for the 2023 and 2024 plan years. The 2023 CAA telehealth relief is temporary.

Deductible 40

Deductible Deductions Family and Medical Leave Act Health and Welfare 40

Higginbotham

MARCH 17, 2022

1, 2024: A list of the remainder of all items and services is required for plan years beginning on or after Jan. 29, 2020, the Departments of Labor (DOL), Health and Human Services (HHS) and the Treasury (Departments) issued a final rule regarding transparency in coverage. Links and Resources . Machine-readable Files.

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WEX Inc.

FEBRUARY 2, 2023

From an employee benefits and COBRA perspective, this would mean that temporary extensions introduced during the COVID-19 pandemic will also expire. 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

PeopleStrategy

FEBRUARY 21, 2024

Working with a trusted benefits administrator can be a big help in staying compliant when it comes to benefits. But there are many areas of compliance that you need to be aware of, especially because many are changing in 2024. PeopleStrategy offers benefits administration, and we can share more information with you.

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Deductions Deductible Health Savings Account Electronics 52

WEX Inc.

AUGUST 21, 2024

The IRS’ use-or-lose rule governs flexible spending accounts (FSAs). This rule is one of the big differentiators between FSAs and other types of employee benefits. The IRS normally allows up to a $640 carryover in 2024 of medical FSA funds from one plan year to the next. So what is the use-or-lose rule? What is a FSA?

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Flexible Spending Account Flexible Spending Health Savings Account IT 105

WEX Inc.

MARCH 31, 2025

Pre-tax benefits are employer-sponsored programs that allow employees to set aside a portion of their income before taxes are deducted. Contributing more before the deadline can help you lower your taxable income for 2024 while building tax-free savings for future medical expenses.

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

Vantage Circle

FEBRUARY 26, 2025

But there’s one area where you can make a huge impact—your employee benefits package. Additionally, they assist with childcare costs when employees return to work, demonstrating a strong commitment to fostering a family-friendly environment. Take Mustard Made , for example.

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Family and Medical Leave Act Employee Benefits Disability Insurance Benefits Package 59

Higginbotham

JANUARY 24, 2025

Inflation is one factor, but health care costs have historically risen at levels that far exceed regular economic inflation rates, meaning that inflation doesnt provide a full explanation. According to PwC, other significant factors behind rising health costs include behavioral health utilization and prescription drug spending.

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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. appeared first on WEX Inc.

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Employee Benefits Flexible Spending Account Health Savings Account Out of Pocket Cost 59