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).

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401(k) Deductible Deductions Flexible Spending Account 98

Empuls

JULY 16, 2024

Wellness incentives recognize the multifaceted nature of employee health and create a culture that prioritizes well-being.    The rewards themselves can be diverse, ranging from reduced healthcare premiums to contributions to health savings accounts, gym memberships, or even cash bonuses.

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Food Health Savings Account Health Insurance Bonuses 52

Empuls

DECEMBER 24, 2024

According to WTW’s 2024 Global Benefits Attitudes Survey , 75% of employees are likelier to stay with an employer offering a strong benefits program. Some of its key components include: Health insurance: Covers medical expenses. Balancing costs with the value these benefits provide is crucial for financial stability.

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Retirement Plan Health Insurance Benefits Package Healthcare 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. However, they cannot typically be used to cover premiums.

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Deductible Deductions Health Savings Account Health Insurance 52

Higginbotham

JUNE 9, 2023

P CORI Fees Due July 31, 2023 The Affordable Care Act (ACA) requires health insurance issuers and self-insured plan sponsors to pay Patient-Centered Outcomes Research Institute fees (PCORI fees). Eligible individuals with self-only HDHP coverage will be able to contribute $4,150 to their HSAs for 2024, up from $3,850 for 2023.

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Deductible Deductions Health Insurance 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. 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 Deductible Deductions 52

Higginbotham

MARCH 17, 2022

Transparency in Health Coverage. As we discussed in our CAA webinar last July and our January compliance update, new transparency in coverage requirements apply to group health plans and health insurers in the individual and group markets. Some State Insurance Mandates May Affect Health Savings Account Eligibility.

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Health Insurance Out of Pocket Cost Insurance Health Savings Account 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

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. Effective Dec.

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Health Insurance Flexible Spending Account Insurance Benefits Package 52

HR Professionals Magazine

MARCH 6, 2023

Typically, that would include laws such as the Employee Retirement Income Security Act (ERISA), the Consolidated Omnibus Budget Reconciliation Act (COBRA), the Affordable Care Act (ACA), and the Health Insurance Portability and Accountability Act (HIPAA).

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Medical IT Health Savings Account Deductible 52

Vantage Circle

FEBRUARY 26, 2025

Additionally, research indicates that 88% of job seekers give "some consideration" or "heavy consideration" to better health, dental, and vision insurance benefits when choosing between a high-paying job and a lower-paying job with better benefits. What Do Employee Benefits Cost? per hour worked, with $32.25

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

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. Current election cycle: What’s on the table?

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