This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Administered by the International Foundation of Employee Benefit Plans (IFEBP) and Dalhousie University, this program provides a comprehensive education on employee benefits, retirement plans, and health benefits. Key Benefits: Comprehensive coverage of group benefits, retirement plans, and compensation.
And did you know that a variety of fertility and infertility treatments are eligible for health savings account (HSA) and medical flexiblespending account (FSA) funds? What are fertility benefits? Fertility benefitsprovide support and financial assistance to individuals or couples seeking fertility treatments or services.
Introducing the employee benefits package to the employees 6. Create a plan to review the employee benefits package routinely Business Owner and Manager together can design employer benefits package as it is key to attracting and retaining top talent. Health insurance Those benefitsprovide a baseline of employee expectations.
The start of a new benefits plan year is an important time for HR teams. Employees will rely on you to explain options, resolve confusion, and provide guidance. Consider preparing an FAQ document and attending any training sessions offered by your benefitsproviders. It is not legal or tax advice.
With a strong focus on meeting the diverse needs of employees, PES Benefits has established itself as a trusted partner for businesses seeking to enhance their benefits offerings. One of the key strengths of PES Benefits lies in its ability to customize benefit plans to align with the specific goals and values of each organization.
And did you know that a variety of fertility and infertility treatments are eligible for health savings account (HSA) and medical flexiblespending account (FSA) funds? What are fertility benefits? Fertility benefitsprovide support and financial assistance to individuals or couples seeking fertility treatments or services.
As Bri Boerner, senior operational writer, global talent development at WEX explained in the latest Benefits Buzz podcast episode, “It may seem like a barrier if they just see a term they don't understand. It’s about what a health savings account or a flexiblespending account can do for them." It is not legal or tax advice.
The limit for dependent care flexiblespending accounts has been stuck at $5,000 since the account’s inception in the 1980s. But a new bill from Congress passed last week and is changing that. The American Rescue Plan Act of 2021 has affected both continuation coverage and the limit for dependent care FSAs.
The vast majority of companies provide employee benefits to their workers, and as an employer, nothing offers better returns than investing in your employees. Here are the three reasons why you should love your benefits package! That’s why employers should be offering medical and health-related benefits.
Although most companies choose this option, it may be a costly decision, since employees will receive an extra paycheck, along with extra taxes withheld and extra benefitsprovided. Employees paid weekly experience an extra pay period every five or six years. What’s up with this math? Well, nothing. How and when it happens. 31, 2020.
Additions may need to be added to include plans that have more provider options in different regions where you have new offices or remote workers. FSA benefit plans: Flexiblespending accounts also allow employees to set aside pre-tax dollars to cover qualified healthcare or dependent care expenses.
The technical definition is: when the value of a service or benefit, provided by employers to employees, must be treated as income. With FlexibleSpending Accounts (FSAs), imputed income is the last resort when receipts requests (or supporting documentation) are not provided. It’s not overly common.
How much of an employee’s salary is made up of benefits. Common Employee Benefits. Tax-preferred plans: Health flexiblespending accounts, health savings accounts, health reimbursement accounts, transportation accounts, and more. Insurance types: Medical, dental, vision, disability, and life insurance plans.
The Consolidated Omnibus Budget Reconciliation Act (COBRA) protects workers who lose their health benefits. Since 1985, COBRA, has given workers (and their families) the right to choose to continue health benefitsprovided by their group health plan for limited periods of time. 4) Each Benefit Can Be Selected Independently.
During the week, we spend a lot of our time at work, which can make it a bit challenging to follow consistent healthy habits. Contact your benefitsprovider to see if blue light glasses qualify as an eligible expense for your HSA of FSA account. Practice Good Nutrition. Prevent Eye Strain. Remain Active.
The first step to getting employees to “swipe right” on your benefits is for them understand what they are looking for in a benefits package. Some people might want benefits that can be used to support children, like a General or Limited FlexibleSpending Account (FSA) or a Dependent Care FSA.
As a leading pre-tax benefitsprovider, Benefit Resource (BRI) has actively participated in various events to showcase our innovative solutions and expand our network. Our team enjoyed networking with peers and sharing our benefits solutions with attendees. NYC SHRM Another fun SHRM event for the books!
Flexiblespending accounts (FSAs) are employer-established accounts that allow you to put aside pre-tax dollars from your paycheck into a special account to be used for eligible health or dependent care expenses. The card is issued by the benefitsprovider that the employer has chosen to work with for the FSA.
Angrily, you step aside and call your benefitsprovider to give them a piece of your mind. Is this benefitsprovider trying to rip you off and take all of your money by not allowing you to purchase anything with your pre-tax health dollars? When you get to the register, your card doesn’t seem to want to swipe.
In honor of National Employee Benefits Day, here are some of the often overlooked benefit options employers can use to “sweeten the pot” to attract new talent and retain existing talent. These eight benefitsprovide an opportunity for over $30,000 of increased value to employees each year.*
Blue Cross Blue Shield of Massachusetts is one of the largest, most respected health care providers in the New England area. In 2019, BCBS Massachusetts achieved the highest score for coverage and benefits, provider choice, information and communication, and billing and payment. News & World Report (2018).
Accessibility and Convenience: An employee benefits platform can offer employees 24/7 access to their benefits information and tools. This makes it more convenient to manage their benefits on their own time. This can improve employee satisfaction and reduce the burden on HR managers and benefits administrators.
For example, some employers are adopting health plans that cover, or at least provide some reimbursement for, reproductive health. Add health savings accounts and flexiblespending accounts. Provide coverage for mental health care services. Are these benefits aligned with your goals? Confirm your budget.
These incentives span a wide array, from health benefits and retirement plans to flexible work arrangements, financial bonuses, and professional development opportunities. These benefitsprovide employees with access to essential medical services. And what are HR’s going to gain from it? percent and 36.1
Some of the most common pre-tax benefits include: Health savings accounts (HSAs) Flexiblespending accounts (FSAs) Commuter benefits Dependent care FSAs Retirement plan contributions (401(k)) Each of these benefitsprovides unique tax advantages that can make a big difference at tax time.
Offering a robust employee benefits package isn’t just a luxury; it’s a transformative strategy. insuranceenterpriseusa.com Strengthening Company Culture Offering a robust benefits package demonstrates a company's commitment to its employees' well-being, fostering a positive company culture.
We organize all of the trending information in your field so you don't have to. Join 46,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content