Best Money Moves

DECEMBER 9, 2024

According to Mercers Survey on health & benefit strategies for 2025 , almost 70% of surveyed companies are or are planning to offer financial wellness programs in their benefits package next year. This projection shows the benefits trends in use and utilization of financial wellness programs among employees.

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PeopleKeep

MAY 24, 2021

Opportunities to offer more flexible and personalized health benefits have grown a lot in recent years. With new tax-free vehicles emerging, including account-based health plans (ABHPs), small employers now have multiple ways to increase employees’ benefits.

Health Savings Account 98

Health Savings Account Benefits Package Deductible Deductions 98

Benefit Resource Inc.

JANUARY 16, 2024

An excellent benefits package is one important component that is vital to this effort. The Significance of a Well-Designed Benefits Package: A well-designed benefits package goes above and above to establish a work environment that fosters financial security and well-being.

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Business Management Daily

SEPTEMBER 15, 2021

Offering an attractive employee benefits package helps lure top talent and encourages the retention of your best team members. Presenting a good employee benefits package 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.

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Insperity

NOVEMBER 26, 2024

For example, some employers are adopting health plans that cover, or at least provide some reimbursement for, reproductive health. Add health savings accounts and flexible spending accounts. Provide coverage for mental health care services. A PEO, however, can ease much of the stress.

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Employee Benefits Family and Medical Leave Act PTO Flexible Spending Account 69

Insperity

JANUARY 27, 2022

What are fringe benefits? In common parlance, fringe benefits (a.k.a. perks or perquisites) are benefits you offer in addition to pay. The IRS’ Publication 15-B (2021) Employer’s Tax Guide to Fringe Benefits defines a fringe benefit as “a form of pay for the performance of services.

Employment 98

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WEX Inc.

MAY 24, 2023

“It’s about what a health savings account or a flexible spending account 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 is not legal or tax advice.

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Flexible Spending Account Health Savings Account Benefit Providers Flexible Spending 97

InterWest Insurance Services

JUNE 16, 2022

Offering telemedicine as part of your benefits package can lead to substantial cost savings as it allows your employees to access health care professionals when they need them, 24/7. Offer a telemedicine option — Virtual care services have exploded during the last two years and more plans are covering these services.

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

Benefit Resource Inc.

AUGUST 6, 2021

Free Health Savings Account? Now, let’s assume those 100 employees contribute $2,000 a year each into their HSA through their pre-tax payroll deduction contributions. Based on the FICA tax rate of 7.65%, you’ll save $15,300. That covers the administrative costs and still leaves you with $12,000 in savings!

401(k) 76

401(k) Health Savings Account Deductible Deductions 76

InterWest Insurance Services

JULY 20, 2022

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.

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Education 401(k) Deductible Deductions 98

Best Money Moves

AUGUST 18, 2021

Multigenerational workforces pose a unique challenge for employers and HR teams: How do you build a benefits package that’s equally attractive to all members of your workforce, when your team members are at radically different stages of their lives? Meanwhile, older employees will have greater concerns about retirement. .

Health Insurance 111

Health Insurance Health Savings Account Insurance Benefits Package 111

Benefit Resource Inc.

JANUARY 25, 2024

Whether you are a participant exploring your benefit options or an employer preparing a benefits package, you may have formed certain myths about pre-tax benefit accounts. To help cut through the “fuzzy” factor, we present 5 Myths (and Facts) about Pre-tax Benefit Accounts.

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WEX Inc.

SEPTEMBER 7, 2023

What you can do: Address this concern by emphasizing the savings potential of an FSA. Illustrate how pre-tax contributions lead to significant savings over time, effectively reducing the impact on take-home pay. What you can do: While promoting the benefits of an FSA, it's important to respect individual choices.

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Flexible Spending Account Take Home Pay Flexible Spending Healthcare 98

Empuls

DECEMBER 24, 2024

Attract top talent : A rich staff benefits program is one of the most effective tools to attract high-caliber candidates, especially in competitive industries. Tax advantages : Some benefits, such as retirement savings plans or health insurance, can offer tax advantages for employees and employers.

Retirement Plan 40

Retirement Plan Health Insurance Benefits Package Healthcare 40

WEX Inc.

JULY 20, 2023

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 benefits package going into your open enrollment. It is not legal, financial, or tax advice.

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Deductible Deductions Flexible Spending Account Health Savings Account 75

InterWest Insurance Services

AUGUST 1, 2023

These plans usually have an attached health savings account to which your workers can transfer funds pre-tax from their paychecks to use for paying deductibles, copays and other medical expenses. For 2024, for a plan to qualify as an HDHP the deductible must be at least $1,400 for an individual and $2,800 for a family.

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Family and Medical Leave Act Out of Pocket Cost Deductible Deductions 98

InterWest Insurance Services

AUGUST 22, 2023

These plans usually have an attached health savings account to which your workers can transfer funds pre-tax from their paychecks to use for paying deductibles, copays and other medical expenses. For 2024, for a plan to qualify as an HDHP the deductible must be at least $1,400 for an individual and $2,800 for a family.

Family and Medical Leave Act 98

Family and Medical Leave Act Out of Pocket Cost Deductible Deductions 98

Higginbotham

SEPTEMBER 16, 2024

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. Offering a high-deductible health plan as part of an employee benefits package, therefore, may be a strategic option for your organization.

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Benefit Resource Inc.

SEPTEMBER 25, 2018

So, you’ve decided to implement a pre-tax benefit plan. But you can streamline the process to implement a pre-tax benefit plan by understanding and answering these five questions. You may also need to consider pre-tax transportation benefits. 1) What plan(s) will you be offering? Limited Purpose FSA.

Taxes 45

Taxes Health Savings Account Flexible Spending Account Flexible Spending 45

Benefit Resource Inc.

FEBRUARY 7, 2024

A key player in the balance between health and wealth is the health savings account (HSA). Beyond being a traditional healthcare benefit, HSAs provide a win-win situation for both employers and employees. The post The Harmony of Health and Wealth with HSAs appeared first on BRI | Benefit Resource.

Health Savings Account 52

Health Savings Account Healthcare Deductible Deductions 52

Benefit Resource Inc.

MAY 27, 2021

Over the years, dental insurance has been shifting from a semi-rare fringe benefit to a standard component of most benefit packages. A Limited Purpose FSA (also known as a Limited FSA or Limited Medical FSA) allows you to pay for dental and vision services with tax-free money. Enroll in a Dental Insurance Plan.

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Flexible Spending Account Flexible Spending Health Savings Account Health 75

Best Money Moves

AUGUST 18, 2021

Multigenerational workforces pose a unique challenge for employers and HR teams: How do you build a benefits package that’s equally attractive to all members of your workforce, when your team members are at radically different stages of their lives? Meanwhile, older employees will have greater concerns about retirement. .

Health Insurance 83

Health Insurance Health Savings Account Insurance Benefits Package 83

Benefit Resource Inc.

APRIL 4, 2024

As an employer or HR manager, you’re constantly seeking ways to enhance your employee benefits package, ensuring it not only attracts top talent but also supports their financial well-being throughout their careers and into retirement. One often-overlooked gem in the world of benefits is the Health Savings Account (HSA).

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401(k) Retirement Plan Benefits Package Deductible 52

Genesis HR Solutions

SEPTEMBER 22, 2020

According to Healthcare.gov , a Flexible Spending Account (also known as a flexible spending arrangement) is a special account employees put money into that they use to pay for certain out-of-pocket health care costs. Health Savings Account (HSA). Employers fund and own accounts. Healthcare.gov ).

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

Higginbotham

NOVEMBER 28, 2022

Some are turning to Health Savings Accounts (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 Health Savings Account (HSA)? An HSA is a special type of savings account. HSAs are portable.

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductible Deductions 52

Benefit Resource Inc.

MAY 2, 2023

Significant areas of focus are healthcare costs and pre-tax benefits. 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.

Employment 52

Employment Flexible Spending Account Benefits Package Healthcare 52

WEX Inc.

OCTOBER 12, 2023

As an employer, providing a robust employee benefits package is only half the battle. Educating on the value of their benefits and how best to use them is equally important. One of the questions we asked: What benefit would you like to learn more about? It is not legal or tax advice. Download now!

Education 52

Education Health Savings Account Consulting Taxes 52

Benefit Resource Inc.

FEBRUARY 21, 2024

The Health, Wealth, Wellness Triangle has emerged as a framework that acknowledges the interconnectedness of personal health, financial stability, and overall wellness. The Health Component A cornerstone of the Health, Wealth, Wellness Triangle is, unsurprisingly, health itself.

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductible Deductions 52

Business Management Daily

NOVEMBER 15, 2021

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 benefits package. Healthcare FSA. Healthcare FSAs.

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Flexible Spending Account Flexible Spending Medical Healthcare 98

Benefit Resource Inc.

NOVEMBER 13, 2018

We understand it is a stressful time and are ready to make your year-end pre-tax benefits goals a reality. When using Benefit Resource for your pre-tax benefits administration, your Plan Highlights document is your basic employee playbook on pre-tax benefits. 3rd Down: Schedule re-enrollment.

Taxes 40

Taxes Health Savings Account Deductible Deductions 40

WEX Inc.

MAY 8, 2024

From the rising costs of healthcare and benefits packages to retaining and recruiting to helping employees understand their benefits to the ever-changing regulatory landscape, HR teams face many challenges that present obstacles to organizational success. It is not legal or tax advice.

Health Savings Account 52

Health Savings Account Benefits Package Healthcare Voluntary Benefits 52

Benefit Resource Inc.

NOVEMBER 22, 2022

Here are 5 reasons to give thanks for employee benefits this Thanksgiving. Pre-tax benefits save you money. With a pre-tax benefit, you’re able to deduct the cost of your benefits from your taxes before you calculate what you owe. You may be surprised at how much you can save!

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Higginbotham

JUNE 14, 2022

Flexible Spending Account vs. Health Savings Account. An FSA is a type of savings account that lets people pay for certain out-of-pocket medical expenses using tax-free dollars. FSAs might sound a lot like Health Savings Accounts (HSAs), but there are some key distinctions.

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Flexible Spending Account Health Savings Account Deductible Deductions 52

Higginbotham

JANUARY 12, 2024

Health accounts or arrangements are designed to cover the costs of eligible health care services, typically including medical , vision and dental expenses. These setups can often provide substantial tax benefits as well. This can reduce the income taxes that employees owe.

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Flexible Spending Account Health Savings Account Deductible Deductions 52

Benefit Resource Inc.

OCTOBER 30, 2018

When it comes to pre-tax benefits specifically, we found three areas that are common culprits: Gaps in understanding of pre-tax benefits. Overly complicated benefits material. Minimal integration of pre-tax benefits. Gaps in u nderstanding of pre-tax benefits. What you can do right now.

Flexible Spending Account 56

Flexible Spending Account Taxes Health Savings Account Flexible Spending 56

Business Management Daily

APRIL 29, 2024

High-Deductible Health Plans (HDHPs) with Health Savings Accounts (HSAs) : HDHPs have lower premiums but higher deductibles compared to traditional health plans. Deductibles can be paid with tax-advantaged/tax-free spending accounts funded by employees and employers.

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Out of Pocket Cost PTO 401(k) Deductible 84

Higginbotham

JANUARY 27, 2023

However, employee recruitment and retention aren’t the only reasons to offer health insurance. Although it may seem easier to boost wages and forget about employee benefits, due to potential tax breaks, offering health insurance can be a financially sound strategy. A SHOP-registered insurance agent can help you enroll.

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Health Insurance Insurance Benefits Package Out of Pocket Cost 52