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In the first post of this year’s open enrollment series, we break down some of the common feedback we received from those who said their benefits options were lacking so you can build the best benefitspackage going into your open enrollment. However, not all employees are offered these benefits.
Open enrollment is underway for many companies right now and one benefits offering that may be on the menu this year is an FSA. Employers are constantly looking for ways to remain competitive in their benefits offerings, and an FSA is a great add-on to your benefitspackage. Types of FSA Plans. Healthcare FSA.
Offering a high-deductible health plan as part of an employeebenefitspackage, therefore, may be a strategic option for your organization. By opting for a higher deductible, employees can secure lower monthly premiums. Employers, employees or both can contribute funds to an HSA in the same year.
If an employee or a member of the employee’s family experiences a medical emergency, the costs can add up quickly. HRAs may sound like Health Savings Accounts (HSAs) or FlexibleSpending Accounts (FSAs), but there are key differences. Manage enrollment. Should you offer executive benefit reimbursement plans?
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. Unused funds at the end of the grace period or plan year that cannot be rolled over are forfeited to the employer.
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