WEX Inc.

MAY 10, 2024

Health savings account (HSA) contribution limits are on the rise again in 2025. These are increases of $150 and $250, respectively, from 2024 HSA limits. What are the 2024 and 2025 HSA contribution limits? 2025 high-deductible health plan (HDHP) amounts and expense limits also increased.

Health Savings Account 105

Health Savings Account Deductible Deductions Taxes 105

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. Half (54%) would prefer employers invest more in health insurance, while 43% would like more on retirement plans.

Retirement Plan 88

Retirement Plan Health Savings Account Health Insurance Employment 88

McDermott Will & Emery Employee Benefits

NOVEMBER 10, 2023

On November 9, 2023, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the applicable dollar limits for certain health and welfare plan benefits, including those for health flexible spending arrangements and commuter benefit plans, among other important updates.

Health and Welfare 105

Health and Welfare Employee Benefits Flexible Spending Flexible Spending Account 105

InterWest Insurance Services

JULY 13, 2023

Employers who were surveyed for a new report expected that group health insurance premiums would increase 5.4% this year and at a faster clip in 2024 as inflation hits medical costs. It definitely means paying close attention when employees say they need better support for their mental health.” copay plan).

Employment 98

Employment Out of Pocket Cost Health Insurance Health Savings Account 98

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.

OCTOBER 22, 2024

The IRS released 2025 contribution limits for medical flexible spending accounts (medical FSAs), commuter benefits , and more as part of Revenue Procedure 2024-40. These limits undergo annual adjustments to account for inflation. These limits undergo annual adjustments to account for inflation.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Deductible Deductions 98

InterWest Insurance Services

JUNE 20, 2024

The IRS has announced significantly higher health savings account contribution limits for 2025, with the amount increasing 3.6% The IRS updates this amount annually, along with minimum deductibles as well as the out-of-pocket maximums for high-deductible health plans. for individual HSA plans.

Deductible 97

Deductible Deductions Health Savings Account Medical 97

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

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 report notes 84% of employers offer both HDHPs and traditional health plans to ensure that they can met the needs of a multi-generational workforce.

Voluntary Benefits 97

Voluntary Benefits Flexible Spending Account Deductible Deductions 97

InterWest Insurance Services

DECEMBER 7, 2023

The IRS recently announced that the annual contribution limit for flexible spending accounts will rise to $3,200 in 2024, up $150 from this year. Also, employees will be able to carry over up to $640 next year into 2025 if they have funds left over in their account, if their employer allows it (it’s optional).

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Pharmaceutical Health Savings Account 98

Benefit Resource Inc.

MARCH 20, 2024

March 20, 2024 – Benefit Resource (BRI) , an Inspira Financial solution, has been recognized as Partner of the Year at the 2024 ADP Marketplace Partner Summit held in Atlanta, Ga. In early 2024, Millennium Trust Company rebranded as Inspira Financial. ROCHESTER, N.Y., Learn more at inspirafinancial.com.

Health Savings Account 52

Health Savings Account Flexible Spending Account Flexible Spending Taxes 52

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

WEX Inc.

OCTOBER 15, 2024

Today, to commemorate National Health Savings Account Awareness Day (HSA Day) celebrated annually on October 15, WEX is highlighting available resources to help employers and employees better understand the impressive value of HSAs for both wellbeing and wallets. It is not legal, tax, or investment advice.

401(k) 52

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

InterWest Insurance Services

AUGUST 1, 2023

If you are running a business, you need to get an early start on preparations for your small group health plan open enrollment, particularly now as so much confusion abounds about the state of health insurance in the country. This number changes each year, and the percentage has not yet been set for 2024.

Family and Medical Leave Act 98

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

InterWest Insurance Services

AUGUST 22, 2023

If you are running a business, you need to get an early start on preparations for your small group health plan open enrollment, particularly now as so much confusion abounds about the state of health insurance in the country. This number changes each year, and the percentage has not yet been set for 2024.

Family and Medical Leave Act 98

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

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

WEX Inc.

DECEMBER 5, 2024

Have you recently changed employers? Fortunately, when you participate in a health savings account (HSA) through your employer, your HSA stays with you. There are plenty of myths about HSAs , but today let’s tackle what really happens to your HSA when you change employers. Still have questions?

Health Savings Account 52

Health Savings Account Taxes Deductible Deductions 52

Best Money Moves

DECEMBER 9, 2024

As 2024 comes to a close, HR professionals are rethinking benefits strategy going into next year. In SHRMs 2024 Employee Benefit Survey, menopause benefits, gender-affirming care and lifestyle savings accounts are becoming benefits trends for the first time. All of these factors mean that employee needs are changing.

roth 401(k) 52

roth 401(k) 401(k) Benefits Package Paid Leave 52

InterWest Insurance Services

JULY 6, 2023

The latest insurer to announce an expansion of its telemedicine offerings is UnitedHealthcare, which recently said it would eliminate out-of-pocket costs for its 24/7 Virtual Visits program for eligible members enrolled in fully insured employer-sponsored plans, starting July 1. Last year, the wavier was extended by legislation through Dec.

Insurance 95

Insurance Out of Pocket Cost Hospitality Health Savings Account 95

Best Money Moves

OCTOBER 22, 2024

It’s clear that financial burnout is taking a significant toll on the overall health of American employees , yet many workplaces still struggle with how to effectively curb the issue. Here are the key factors driving this issue and actionable steps employers can take to provide support.

Out of Pocket Cost 59

Out of Pocket Cost Healthcare Health Savings Account Medical 59

WEX Inc.

NOVEMBER 27, 2024

Your health plan drives many of your decisions during open enrollment. One emerging trend is employers offering their employees health plan options. Does your employer offer options? You must be enrolled in an HDHP to be eligible to participate in a health savings account (HSA). What’s a PPO?

Deductible 52

Deductible Deductions Health Savings Account Flexible Spending Account 52

WEX Inc.

OCTOBER 8, 2024

While health savings accounts (HSAs) can support short-term and emergency needs , HSA participants are increasingly taking advantage of these accounts’ investment potential. Leveraging employer-matching contributions to grow your funds. This blog post was most recently updated in October 2024.

401(k) 52

401(k) Health Savings Account Deductible Deductions 52

CorpStrat

JANUARY 22, 2024

As we settle into 2024, many teams have recently renewed their Employee Benefits plans. It’s worth checking out the specifics, as this can lead to significant savings. — As employers, you play a pivotal role in ensuring your team is aware and making the most of these benefits.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

Empuls

FEBRUARY 26, 2024

  Workplace dynamics are constantly evolving, the year 2024 promises a revolutionary shift in how organizations approach employee experience. Hybrid working models will be on the rise The remote work revolution that gained momentum in the previous years shows no signs of slowing down in 2024.

Employee Benefits 40

Employee Benefits Financial Counseling Healthcare Benefits Package 40

Higginbotham

SEPTEMBER 16, 2024

Are you offering your employees health insurance options that work for their budgets? 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.

Deductible 52

Deductible Deductions Health Savings Account Health Insurance 52

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 52

Deductible Deductions Family and Medical Leave Act Health and Welfare 52

Best Money Moves

OCTOBER 22, 2024

It’s clear that financial burnout is taking a significant toll on the overall health of American employees , yet many workplaces still struggle with how to effectively curb the issue. Here are the key factors driving this issue and actionable steps employers can take to provide support.

Out of Pocket Cost 52

Out of Pocket Cost Healthcare Health Savings Account Medical 52

Higginbotham

JUNE 9, 2023

Employer Takeaway Using Part II, Number 133 of Form 720, issuers and plan sponsors are required to report the average number of lives covered under the plan separately for specified health insurance policies and applicable self-insured health plans. The announcement also clarifies that employers will have until Aug.

Deductible 52

Deductible Deductions Health Insurance Taxes 52

Empuls

AUGUST 27, 2024

In this all-encompassing guide, we look at the best available options concerning Employee Benefits Options in 2024, different types, and significance, along with best practices in designing a benefits package to suit the workforce's needs. The impact of benefit options for employees on employee satisfaction and HR best practices 1.

Family and Medical Leave Act 40

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

Higginbotham

JANUARY 12, 2024

Out-of-pocket health care costs can become a burden for employees. Special accounts designed to cover health care costs can help both workers and employers manage their expenses. While employers are not required to offer HSAs, FSAs or HRAs, many choose to do so. HRA vs HSA vs FSA: What’s the difference?

Flexible Spending Account 52

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. Kaiser Family Foundation Releases 2022 Employer Health Benefits Survey.

401(k) 52

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

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). For calendar year 2024, the adjusted $2,000 penalty amount is $2,970. 31, 2023 On Feb.

Health Insurance 52

Health Insurance Flexible Spending Account Insurance Benefits Package 52

WEX Inc.

JUNE 13, 2024

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. Real-time notifications : Look for vendors that provide real-time notifications for transactions and account balances.

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account Taxes 52

Hppy

JUNE 7, 2018

Of those over 65, nearly 19 percent were working as of 2017 , and by 2024, that number increases to 36 percent of those between 65 and 69 needing to work. Employers should call upon HR and benefits departments to discuss opportunities to help employees learn from financial education programs and get acquainted with additional resources.

Retirement Plan 50

Retirement Plan 401(k) Health Savings Account Education 50

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. Employer Takeaway. Employer Takeaway.

Health Insurance 52

Health Insurance Out of Pocket Cost Insurance Health Savings Account 52

WEX Inc.

FEBRUARY 2, 2023

trillion spending bill that President Biden signed into law in December 2022 included an additional two-year extension of these provisions, so Medicare telehealth coverage provisions will remain in place through 2024. trillion spending bill also extended a provision that provided relief to health savings account (HSA) participants.

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account Taxes 52