InterWest Insurance Services

JULY 11, 2024

The Department of Labor’s new fiduciary rule, which mainly applies to 401(k) plans, will also affect employers who offer their staff health savings accounts. HSAs are also portable, meaning they can be moved from one employer to the next, and they can be kept until retirement years.

401(k) 98

401(k) Health Savings Account Employment Commissions 98

Griffin Benefits

NOVEMBER 1, 2022

Together, these combined announcements by the IRS detail 2023 adjusted limits to the amounts employees can tuck away pretax into Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), transportation benefits, and retirement plans such as 401(k)s. 2023 Retirement Plan Limits Increase.

401(k) 85

401(k) Retirement Plan Health Savings Account Deductible 85

Benefit Resource Inc.

FEBRUARY 23, 2023

Health Savings Accounts (HSAs) are tax-advantaged accounts that allow you to pay for medical expenses now and in the future. Whether you already have an HSA or are looking at this account for the first time, BRI is here to share why we love this account so much. HSAs Provide More Tax Breaks Than 401(k)s.

Health Savings Account 52

Health Savings Account 401(k) Retirement Plan Taxes 52

WEX Inc.

JULY 24, 2023

And it’s a solution you might already be offering: the health savings account. These accounts provide another way for your employees to diversify their efforts to prepare for retirement. A 401(k) is a tax-deferred account where individuals do not pay income taxes on amounts contributed,” Cook said.

Retirement Plan 98

Retirement Plan 401(k) Health Savings Account Taxes 98

Money Talk

JUNE 13, 2024

Maximize Retirement Plan Contributions- Contribute as much as you can afford, up to the maximum allowable amount, to tax-advantaged retirement accounts (e.g., 401(k) plan). Not only does this help you save for retirement, but it can also reduce your taxable income for the year.

Taxes 125

Taxes 401(k) Retirement Plan Health Savings Account 125

WEX Inc.

OCTOBER 4, 2023

Participating in a health savings account (HSA) or flexible spending account (FSA) is a great way to save money. Health savings account An HSA is an individually owned benefits plan funded by you or your employer that lets you save on purchases of eligible expenses.

401(k) 98

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

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. HSAs allow your employees to put away funds to pay for future medical expenses.

401(k) 98

401(k) Health Savings Account Pharmaceutical Deductions 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

Griffin Benefits

NOVEMBER 11, 2021

Together, these combined announcements by the IRS detail 2022 adjusted limits to the amounts employees can tuck away pretax into Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), transportation benefits, and retirement plans such as 401(k)s. HSA & HDHP Limits Increase for 2022.

401(k) 56

401(k) Retirement Plan Health Savings Account Deductible 56

Benefit Resource Inc.

OCTOBER 13, 2021

HSA Awareness Day is October 15th, and we are so excited to share our love of Health Savings Accounts with…well, everyone! ” – Health Savings Accounts. A Health Savings Account is one of the most versatile pre-tax benefit accounts available and is a great fit for a wide range of people.

401(k) 75

401(k) Health Savings Account Taxes Deductions 75

WEX Inc.

SEPTEMBER 14, 2023

Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans. If you rarely go to the doctor or would like to enroll in a health savings account (HSA) , an HSA-eligible health plan may be right for you!

401(k) 98

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

Genesis HR Solutions

SEPTEMBER 22, 2020

Employees don’t pay taxes on this money, which means they save an amount equal to the taxes they would have paid on the money you set aside. Health Savings Account (HSA). 401(k) & 403(b) Retirement Plans. A 401(k) or a 403(b) is a retirement plan named for the section of the tax code that governs it. (

401(k) 98

401(k) Employee Benefits Disability Insurance roth 401(k) 98

Benefit Resource Inc.

AUGUST 6, 2021

Free Health Savings Account? That covers the administrative costs and still leaves you with $12,000 in savings! The similarities between an HSA and a 401(k) lead many to believe they are both equally hands-off. But is it really? Spoiler Alert: it’s not! Cost #2: Hide-and-seek.

401(k) 76

401(k) Health Savings Account Deductions Deductible 76

InterWest Insurance Services

MAY 16, 2024

It can create bad feelings if staff think their health plan offers little coverage thanks to a high deductible that they never reach. It hurts even more if they haven’t funded their health savings account (HSA), which often happens. Employers can also contribute to the account.

401(k) 98

401(k) Deductions Deductible Health Savings Account 98

InterWest Insurance Services

NOVEMBER 10, 2022

If you have Gen Z workers, you should consider sending out e-mail blasts to them about this law and that if they are turning 26 in the coming year, they’ll need to find new coverage other than their parents’ Health savings accounts. These accounts can be kept for life and transferred to new employers.

401(k) 97

401(k) Health Savings Account Health Insurance Insurance 97

InterWest Insurance Services

JULY 20, 2022

The freebies — Under the Affordable Care Act, health plans are required to cover a list of 10 essential services, particularly preventative procedures like colonoscopies. You can teach them about these tax-advantaged accounts and the importance of saving for retirement. Financial wellness. Most students in the U.S.

Education 98

Education 401(k) Deductible Deductions 98

InterWest Insurance Services

JUNE 6, 2024

It can create bad feelings if staff think their health plan offers little coverage thanks to a high deductible that they never reach. It hurts even more if they haven’t funded their health savings account (HSA), which often happens. Employers can also contribute to the account.

401(k) 96

401(k) Deductions Deductible Health Savings Account 96

Benefit Resource Inc.

FEBRUARY 16, 2021

Today we answer questions such as: What is a Health Savings Account (HSA)? Check out our blog Why a 401(k) & HSA make the perfect power couple for more ideas on how to maximize your funds and plan for retirement! to make sure you’re taking advantage of the right account. Are you eligible?

401(k) 71

401(k) Health Savings Account 71

InterWest Insurance Services

JANUARY 27, 2023

Urge any employees in HDHPs to sock away funds in their attached health savings accounts for future medical expenses. These accounts are funded with pre-tax dollars and can be saved up for future use. HSAs are portable if the employee changes jobs, and the funds can be invested, much like a 401(k) plan.

Out of Pocket Cost 98

Out of Pocket Cost 401(k) Deductions Deductible 98

WEX Inc.

FEBRUARY 23, 2023

In fact, staying on top of your health savings account (HSA) , flexible spending account (FSA) , or any other plan you signed up for throughout the year can pay off for you. Your balance rolls over from year to year, and the account stays with you even if you change jobs. How do you do this?

Flexible Spending Account 98

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

InterWest Insurance Services

JUNE 16, 2022

Offer HDHPs — High-deductible health plans tend to be less expensive than other plans because they shift more of the cost to the employee, who pays out of pocket in exchange for lower premiums. Employees can keep the accounts, and even move them between employers.

401(k) 98

401(k) Health Insurance Health Savings Account Human Resources 98

Benefit Resource Inc.

JUNE 23, 2020

When talking about saving money for the future, the first thing that tends to come to mind is retirement accounts like a 401(k) or IRA. In addition to a general retirement account, consider a Health Savings Account (HSA). Stow it and grow it with a Health Savings Account.

401(k) 76

401(k) Health Savings Account Banking Taxes 76

Benefit Resource Inc.

FEBRUARY 14, 2022

That’s why employers should be offering medical and health-related benefits. A Medical Flexible Spending Account (Medical FSA), Health Savings Account (HSA), or Health Reimbursement Account (HRA) are great places to start. Improved Overall Productivity.

401(k) 81

401(k) Flexible Spending Account Health Savings Account Benefits Package 81

Benefit Resource Inc.

FEBRUARY 4, 2021

Health Savings Accounts (HSAs) are basically the hot new(ish) accessory in the benefits world these days. No matter where you are in your career, or in life, your Health Savings Account will be your constant companion. We talked previously about how HSAs and 401(k)s pair nicely together.

Health Savings Account 73

Health Savings Account 401(k) Retirement Plan Taxes 73

Business Management Daily

DECEMBER 1, 2019

Best practice: List all benefits and deductions to determine whether they’re impacted: Medical, dental, life, vision, group-term life insurance, long-term disability, dependent care, flexible spending accounts and health savings accounts. In addition, 401(k) nondiscrimination testing may be affected.

Payroll 83

Payroll 401(k) Deductions Deductible 83

Best Money Moves

OCTOBER 16, 2018

Benefits that were nonexistent in 2013 (at least in terms of EBRI’s report) like health savings accounts and accident insurance are now offered by more than 15 percent of organizations.

Employee Benefits 69

Employee Benefits 401(k) Paid Sick Leave Paid Vacation 69

Benefit Resource Inc.

JUNE 29, 2021

Now that you’ve explained (again) how insurance works, you get to begin the real work of teaching employees the difference between Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs). When it comes to HSAs, your employees might not have heard of the account.

401(k) 78

401(k) Deductible Deductions Flexible Spending Account 78

Benefit Resource Inc.

MARCH 20, 2019

If you are currently employed, there is one change you can make to start saving: Enroll in a Health Savings Account (HSA). We’ll go over the three reasons why enrolling in an HSA might be the best option for you in order to save on health care expenses in retirement. The tax savings.

401(k) 85

401(k) Deductible Deductions Health Savings Account 85

WEX Inc.

NOVEMBER 21, 2024

Retirement savings With retirement top-of-mind for many, companies are increasing their focus on retirement savings options. Beyond the traditional 401(k) match , some employers are introducing student loan repayment matching , helping employees reduce debt while saving for retirement.

Employee Benefits 59

Employee Benefits 401(k) Employment Health Savings Account 59

Flimp Communications

MARCH 31, 2020

The long-term financial wellness of the average American worker is at risk during this health and economic crisis. Where Tax Savings and Benefits Intersect. Health savings accounts (HSAs) are great medical savings and investment tools for employees, particularly those who won’t have a ton of medical expenses year to year.

401(k) 75

401(k) Retirement Plan Medical Taxes 75

WEX Inc.

SEPTEMBER 18, 2024

Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans. If you rarely go to the doctor or would like to enroll in a health savings account (HSA) , an HSA-eligible health plan may be right for you!

401(k) 52

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

CorpStrat

JANUARY 17, 2023

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. Health FSA pre-tax contribution limit. Health FSA carryover limit.

401(k) 52

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

Benefit Resource Inc.

NOVEMBER 29, 2023

We are all faced with choices every day which can lead you to save time or money. You might plan for retirement by contributing to a 401k plan. Use paid time (and personal savings) for a relaxing vacation. You have a healthy retirement plan with a 401K, but lack options for comprehensive group medical benefits.

401(k) 98

401(k) Medical Retirement Plan Health Savings Account 98

Flimp Communications

FEBRUARY 7, 2020

At a minimum, talking about tax season with workers can lead to conversations about retirement savings plans such as IRAs or 401(k)s, as well as any other financial management benefits you offer. Tax-saving accounts include health savings accounts (HSAs) that provide an untaxable reservoir of money for medical expenses.

Taxes 75

Taxes 401(k) Health Savings Account Finance 75

Benefit Resource Inc.

APRIL 8, 2021

Based on Toby’s choices in the previous step and the benefits offered by his employer, the tool will then present other benefits options he has: His employer’s Dependent Care FSA to save on child care expenses. A Health Savings Account to save on medical expenses. A 401(k) to save money for retirement.

401(k) 75

401(k) Health Health Savings Account Medical 75

Benefit Resource Inc.

MARCH 23, 2021

If you have a pre-tax account and retirement is on the horizon, you’ll want to understand what happens to the funds in your account(s) once you retire. Depending on which pre-tax account you have, the treatment of your funds will vary. Greater Freedom on Withdrawals.

401(k) 69

401(k) Health Savings Account Retirement Plan Taxes 69

Benefit Resource Inc.

MARCH 18, 2021

According to a 2019 study by HealthView Services , couples in their 50s today are expected to pay around $400,000 in lifetime retirement health care costs. So, how can you use your Health Savings Account to save up your half? This is one of the best features of an HSA, so use it. Love HSAs and want to keep reading?

401(k) 68

401(k) Health Savings Account Taxes IT 68