McDermott Will & Emery Employee Benefits

NOVEMBER 1, 2023

The Internal Revenue Service recently announced the cost-of-living adjustments to the applicable dollar limits for various employer-sponsored retirement and welfare plans for 2024. Certain health and welfare plan limits have not yet been released.

Health and Welfare 105

Health and Welfare Employee Benefits Flexible Spending Account Health Savings Account 105

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.

Voluntary Benefits 97

Voluntary Benefits Flexible Spending Account Deductions Deductible 97

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

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. Retirement plan maximums.

401(k) 98

401(k) Deductions Deductible Flexible Spending 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 2023, BRI was acquired by Millennium Trust, a leading provider of health, wealth, retirement, and benefits solutions. ROCHESTER, N.Y.,

Health Savings Account 52

Health Savings Account Flexible Spending Account Flexible Spending Taxes 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. But how can you effectively communicate and offer FSAs to your employees?

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account Taxes 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. Together, let’s ensure that 2024 is a year of health and well-being for you and your employees!

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

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.

Deductions 52

Deductions Deductible Health Savings Account Health Insurance 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. For 2024, the contribution limit for self-only coverage is $4,150 and the contribution limit for family coverage is $8,300.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Deductions Deductible 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.

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.

Health Insurance 52

Health Insurance Flexible Spending Account Insurance Benefits Package 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.

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account Taxes 52

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 Flexible Spending Deductions 98

WEX Inc.

AUGUST 21, 2024

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?

Flexible Spending Account 105

Flexible Spending Account Flexible Spending Health Savings Account IT 105

WEX Inc.

MARCH 31, 2025

Some of the most common pre-tax benefits include: Health savings accounts (HSAs) Flexible spending accounts (FSAs) Commuter benefits Dependent care FSAs Retirement plan contributions (401(k)) Each of these benefits provides unique tax advantages that can make a big difference at tax time.

401(k) 52

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

WEX Inc.

MARCH 4, 2025

Understanding the basic rules of a health savings account (HSA) is critical in driving employee participation. And only half of those surveyed in our Paying for Healthcare in America report said that they understand the differences among the different health spending accounts. Who is eligible for an HSA?

Health Savings Account 59

Health Savings Account Flexible Spending Account Taxes Deductible 59

Vantage Circle

FEBRUARY 26, 2025

Flexible Spending Accounts (FSAs) & Health Savings Accounts (HSAs/HRAs): Smart Tax-Saving Tools These accounts help employees set aside pre-tax money for healthcare expenses, reducing their financial burden. Offering benefits that ease financial burdens strengthens employee loyalty.

Family and Medical Leave Act 59

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