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
Best For: HR professionals, benefits administrators, and insurance agents who handle health insurance plans. It’s perfect for those who manage employee healthsavings programs. Key Benefits: Specialized training in tax-advantaged savings plans like HSAs, FSAs, and HRAs.
Crafting an employee benefitspackage that meets the unique needs of every employee can be challenging. Cafeteria-style benefits can appeal to a variety of workers with flexible options. But, what exactly is a cafeteria plan and how could you leverage this employee benefit to help your organization achieve its goals?
These changes also come with compliance responsibilities , and as Byrd pointed out, employee benefits—particularly healthcare—are one of the most heavily regulated areas of business. He suggested that bipartisan efforts to address rising drug prices could emerge, which could ultimately benefit both employers and employees by lowering costs.
PeopleKeep also provides flexiblespendingaccounts (FSAs), health reimbursement arrangements (HRAs), and healthsavingsaccounts (HSAs) to help employees save money on healthcare expenses. Another benefit of using PeopleKeep is the flexibility it offers.
An excellent benefitspackage is one important component that is vital to this effort. The Significance of a Well-Designed BenefitsPackage: A well-designed benefitspackage goes above and above to establish a work environment that fosters financial security and well-being.
This can look like: Using well-known carriers for the health insurance options you sponsor Contributing to a healthsavingsaccount or flexiblespendingaccount for employees Offering an employee assistance program (EAP) Matching a percentage of employee retirement plan contributions.
With answers and feedback in hand you can create a benefitspackage which is more appealing to them, which in turn gives you a competitive edge when attracting and retaining workers. Engage employees and solicit feedback through quarterly employee-benefits round table meetings.
“It’s about what a healthsavingsaccount or a flexiblespendingaccount can do for them." Increase communication One main reason why employees don’t understand their benefits is a lack of communication from their employers.
It always takes more time than usual to onboard new employees — particularly ones who are new to the workforce altogether — to your employee benefits plans. The freebies — Under the Affordable Care Act, health plans are required to cover a list of 10 essential services, particularly preventative procedures like colonoscopies.
Here are the three reasons why you should love your benefitspackage! That’s why employers should be offering medical and health-related benefits. A Medical FlexibleSpendingAccount (Medical FSA), HealthSavingsAccount (HSA), or Health Reimbursement Account (HRA) are great places to start.
Most employees are about to have the opportunity to re-evaluate their benefits options during open enrollment. Flexiblespendingaccounts (FSAs) are a powerful tool for individuals and employers to save money on healthcare and dependent care expenses. Want to learn more about how you can support your employees?
Over the years, dental insurance has been shifting from a semi-rare fringe benefit to a standard component of most benefitpackages. Fortunately, there’s another option… Enroll in a Limited Purpose FlexibleSpendingAccount (FSA). Here are some steps to keep those pearly whites shining bright.
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.
When it comes to managing the health and well-being of employees, employers must understand what’s best for both their organization and individuals. While there are similarities between HSAs and FSAs, it’s important to understand the distinctions before implementing such an offering into your benefitspackage.
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. Wherever you fall, we have answers for you.
HR trends forecast the most desired employee benefits for 2021 like financial wellness programs and flexible work arrangements. It’s time for employers to start planning their employee benefitspackages for 2021. 4 Paid Time Off.
As employers work to navigate these uncertain times, offering effective and comprehensive benefitspackages have become a priority. Offering healthcare financial tools such as healthsavingsaccounts (HSAs) and flexiblespendingaccounts (FSAs) are an important part of any employee’s suite of employee benefits.
Employers and employees alike are looking for ways to make health care more affordable. Some are turning to HealthSavingsAccounts (HSAs). Although HSAs won’t work for everyone, the benefits of an HSA account make this an appealing option for some individuals. What is a HealthSavingsAccount (HSA)?
Offering pre-tax benefits First, if employee benefits aren’t already offered, employers can help alleviate the financial burden of healthcare costs for their employees by providing pre-tax benefits. This can include increasing the number of pre-tax deductions available to employees.
There are several different types of pre-tax benefits that you may be eligible for, including FlexibleSpendingAccounts (FSA), HealthSavingsAccounts (HSA), and Commuter Benefits. Each type of benefit can help you save money in different ways.
FlexibleSpendingAccounts (FSAs) have emerged as one solution. FSA programs can be a good fit for many employee healthbenefit programs, but before being able to decide, you may have some questions – for example, how do FSAs work? FlexibleSpendingAccount vs. HealthSavingsAccount.
Note that rules vary by account type, so check with the IRS for details on your organization’s specific healthaccount. Attracting Talent: A robust benefitspackage can help set your company apart from other employers. This can reduce the income taxes that employees owe. Learn more.
According to the Society for Human Resource Management (SHRM), Lifestyle SpendingAccounts are more common in Canada, but they’re starting to receive attention in the U.S., especially as employers look at options beyond standard benefitspackages to help improve recruitment, retention and turnover.
Health insurance is a key element of any employee benefitspackage, but small business owners should consider offering other benefits as well. In addition to the basic benefit staples that many employees expect, small business may want to round out their employee benefitspackage with other options.
Employers have come to trust and rely on BRI for their tax-free benefits needs. BRI provides dedicated administration of tax-free certified employee benefits programs for the following: Commuter Benefit Plans FlexibleSpendingAccountsHealth Reimbursement AccountsHealthSavingsAccounts.
The BRight Ideas Quiz administered by Benefit Resource, Inc. in 2017 revealed several key areas within pre-tax benefits where participant understanding needs improvement. In this section, we’ll explore areas related to FlexibleSpendingAccounts, HealthSavingsAccounts, and Health Reimbursement Accounts.
But you can streamline the process to implement a pre-tax benefit plan by understanding and answering these five questions. Let’s say you decided to offer a FlexibleSpendingAccount (FSA). Commuter Benefits, HealthSavingsAccounts and even COBRA benefits can be transitioned at any time.
The first step to getting employees to “swipe right” on your benefits is for them understand what they are looking for in a benefitspackage. Some people might want benefits that can be used to support children, like a General or Limited FlexibleSpendingAccount (FSA) or a Dependent Care FSA.
When aiming to reduce a business’ health care costs, it’s helpful to understand the basics of some of the most popular savingsaccount options: HSAs (HealthSavingsAccounts): Employers are now offering HSAs as a side benefit to high-deductible plans. Business Basics.
With a heightened focus on work-life balance, increased competition for talent, and the proliferation of dispersed workforces, BRI has diversified its offerings to include more robust personalized benefits and pre-tax benefits like FlexibleSpendingAccounts (FSAs), HealthSavingsAccounts (HSAs), and commuter benefits.
A health reimbursement plan gives employers a way to cover these costs. HRAs may sound like HealthSavingsAccounts (HSAs) or FlexibleSpendingAccounts (FSAs), but there are key differences. If you need help putting together an attractive executive benefitspackage, Higginbotham can help.
HR professionals need to provide employees with all the information they need to make an informed decision about their benefitspackage for the coming year. If applicable, provide information on FlexibleSpendingAccounts (FSAs) and HealthSavingsAccounts (HSAs) and how employees can contribute.
But, to offer more, it is not always necessary to spend more. Competitive advantage can also come from creativity in putting together a benefitspackage. Offering student loan repayment assistance as part of your benefitspackage can be a game-changer for attracting and retaining top talent, particularly among younger workers.
Many workers are paying greater attention to their benefits and wondering how to stretch their dollars further. While many employers are familiar with healthsavingsaccounts (HSAs) and flexiblespendingaccounts (FSAs), lifestyle spendingaccounts (LSAs) are an emerging benefit that can provide flexible and personalized support to employees.
A Professional Employer Organization (PEO) allows its clients to outsource many of their human resource functions, share employment liability, and, oftentimes, gain economies of scale to bring an improved benefitspackage to their employees. PEO services include administration of the following: Healthbenefits.
Non taxable or tax free employee benefits are an integral part of a comprehensive compensation package, complementing salary and other traditional benefits. They can range from health insurance coverage to retirement plans, flexiblespendingaccounts, transportation benefits, education assistance, and more.
For example, some platforms allow for integrating different benefits, such as health insurance, retirement plans, and wellness programs. This can help employers tailor their benefitspackages to meet their employees' specific needs and preferences.
For example, some employers are adopting health plans that cover, or at least provide some reimbursement for, reproductive health. Add healthsavingsaccounts and flexiblespendingaccounts. Provide coverage for mental health care services. A PEO, however, can ease much of the stress.
USI’s benefits offerings include a comprehensive suite of health insurance options, including medical, dental, and vision insurance. The company also offers flexiblespendingaccounts (FSAs) and healthsavingsaccounts (HSAs) to help employees save money on healthcare costs.
Offering an attractive employee benefitspackage helps lure top talent and encourages the retention of your best team members. Presenting a good employee benefitspackage often gives one employer an edge over another, especially in cases where basic salaries are relatively equal. There’s no one-size-fits-all answer.
To overcome this challenge, you need to do everything you can to make your company stand out in ways that your competition simply can’t match; offering a comprehensive benefitspackage is one of the best ways to reach that goal. benefits are becoming an increasingly important factor for individuals evaluating job offers.
With answers and feedback in hand you can create a benefitspackage that is more appealing to them, which in turn gives you a competitive edge when attracting and retaining workers. Engage employees and solicit feedback through quarterly employee-benefits round table meetings.
FlexibleSpendingAccount (FSA). According to Healthcare.gov , a FlexibleSpendingAccount (also known as a flexiblespending arrangement) is a special account employees put money into that they use to pay for certain out-of-pocket health care costs. HealthSavingsAccount (HSA).
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