InterWest Insurance Services

SEPTEMBER 23, 2024

They have three specific flexible benefits for your employees to choose from: Pre-tax health insurance premium deductions Premium-only plans allow your employees to elect to withhold a portion of their pre-tax salary to pay for their portion of the premium contribution to their employer-sponsored plan.

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Flexible Spending Account Benefits Package Deductions Deductible 52

Benefit Resource Inc.

MARCH 28, 2024

From flexible spending accounts (FSAs) to health savings accounts (HSAs) and commuter benefits, these options offer significant advantages if managed wisely. Know Your Pre-Tax Benefit Options Flexible spending accounts (FSAs): An FSA allows you to set aside pre-tax dollars for eligible healthcare expenses.

Flexible Spending Account 52

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

WEX Inc.

JUNE 13, 2024

Flexible spending accounts (FSAs) allow your employees to use pre-tax dollars to cover eligible out-of-pocket healthcare expenses, providing a tax-efficient way to manage medical costs and helping you and your employees save money. Combination FSA: A limited FSA that converts into a medical FSA once the IRS deductible is met.

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account Taxes 52

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. An informative blog , educational videos and savings and goal calculators make it easy for you to determine your plan elections. Open enrollment comes just once a year.

401(k) 52

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

WEX Inc.

FEBRUARY 15, 2023

Did you recently elect to participate in a medical flexible spending account (FSA) ? What is a medical flexible spending account (FSA)? The information in this blog post is for educational purposes only. WEX receives compensation from some of the merchants identified in its blog posts.

Medical 98

Medical Flexible Spending Account Flexible Spending Taxes 98

WEX Inc.

SEPTEMBER 12, 2023

In the second blog post in our three-part series to educate first-time participants, we walk through a few factors you should consider when choosing among employee benefits accounts for the first time. Click here for the first blog post in our series on choosing a health plan for the first time.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Life Insurance 52

InterWest Insurance Services

JULY 4, 2024

workers choosing high-deductible health plans has leveled off during the last two years, uptake has been growing rapidly among one segment of the working population: Gen Z employees. HDHPs feature higher deductibles and more out-of-pocket expenses in exchange for lower premiums upfront. While the number of U.S.

Voluntary Benefits 78

Voluntary Benefits Flexible Spending Account Deductions Deductible 78

McDermott Will & Emery Employee Benefits

OCTOBER 19, 2022

The maximum salary reduction limit for a health flexible spending account (Health FSA) increased to $3,050 for 2023 (from $2,850 in 2022), and the Health FSA carryover […]. The post IRS Announces Cost-of-Living Adjustments for Health and Welfare Plans appeared first on EMPLOYEE BENEFITS BLOG.

Health and Welfare 98

Health and Welfare Flexible Spending Account Flexible Spending Salary 98

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. An informative blog , educational videos and savings and goal calculators make it easy for you to determine your plan elections. Open enrollment comes just once a year.

401(k) 98

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

Qandle

JUNE 20, 2023

Benefits and Deductions: Collect information related to employee benefits and deductions, such as health insurance, retirement contributions, flexible spending accounts, loan repayments, or garnishments. A detailed overview appeared first on The Qandle Blog. Ensure accuracy and verify any changes or updates.

Payroll 72

Payroll Flexible Spending Account Overtime Payroll Software 72

InterWest Insurance Services

OCTOBER 27, 2022

Flexible spending account: With an FSA an employee pays — on a pre-tax basis through salary reduction — for out-of-pocket medical expenses that aren’t covered by insurance (for example, annual deductibles, doctor’s office copayments, prescriptions, eyeglasses and dental costs).

Flexible Spending Account 78

Flexible Spending Account Employment Flexible Spending Deductions 78

InterWest Insurance Services

MARCH 22, 2022

Employers fund these flexible benefit plans with funds that are deducted from their employees’ salaries on a pre-tax basis. Flexible spending account. The employee chooses how much they want to put into the plan each year and this is deducted from their paycheck automatically for each payroll period.

Flexible Spending Account 75

Flexible Spending Account 401(k) Flexible Spending Deductions 75

InterWest Insurance Services

NOVEMBER 25, 2022

The IRS has released the 2023 maximum contribution amounts for health savings accounts and flexible spending accounts. They also cover the minimum deductibles that qualify programs as high-deductible health plans (HDHPs), which an HSA must be attached to under law. 7,750 for family coverage (up $450). The takeaway.

401(k) 84

401(k) Deductions Deductible Flexible Spending Account 84

Money Talk

JUNE 29, 2022

Last year, I wrote a blog post about mid-year financial check-up s for the OneOp Personal Finance team. In it, I urged a review of tax deductions/credits, tax withholding, budgeting/cash flow, flexible spending accounts, financial goal progress, and investment portfolio status.

401(k) 246

401(k) Out of Pocket Cost Finance Flexible Spending Account 246

WEX Inc.

JANUARY 4, 2023

In this blog post, we outline some of the ways your ability to use your employee benefits changes when you elect COBRA. You are still eligible to participate and contribute to an HSA while on COBRA as long as: You’re enrolled in an HSA-eligible health plan (or high-deductible health plan ). It is not legal or tax advice.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

Benefit Resource Inc.

DECEMBER 30, 2022

Choosing between a Health Savings Account (HSA) and a Flexible Spending Account (FSA) can be overwhelming. HSAs are available to only certain high-deductible health plan participants while FSAs offer funds that stay with you through life’s milestones so that you’ll always have extra coverage if needed. visit bri blog.

Taxes 75

Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

WEX Inc.

APRIL 12, 2023

First, employees need to be covered by an HSA-eligible health plan, otherwise known as a high-deductible health plan (HDHP). They can’t be covered by any other health plan that would disqualify them from an HSA, such as a spouse’s plan or a medical flexible spending account (FSA). It is not legal or tax advice.

Health Savings Account 52

Health Savings Account Deductions Deductible Flexible Spending Account 52

InterWest Insurance Services

JULY 20, 2022

Keep in mind that the ritual of choosing a benefits package is a brand-new experience for people who are new to the workforce, and you should prepare to educate new employees on how to effectively choose and use their new coverages, as well as all the details like premiums, deductibles and out-of-pocket expenses.

Education 89

Education 401(k) Deductions Deductible 89

Benefit Resource Inc.

MAY 27, 2021

Fortunately, there’s another option… Enroll in a Limited Purpose Flexible Spending Account (FSA). Here are some examples of what you can spend those funds on: Artificial teeth/dentures/denture cleaners. Copayments and dental plan deductibles. Check out this blog. Fluoridation services.

Flexible Spending Account 75

Flexible Spending Account Flexible Spending Health Savings Account Health 75

InterWest Insurance Services

MARCH 4, 2022

While health savings accounts have grown in popularity, you can only offer them to employees who are enrolled in high-deductible health plans. You can claim a tax deduction for the funds you transfer to your employees’ HRAs, and the funds they withdraw from the accounts to reimburse for medical-related expenses are generally tax-free.

Medical 88

Medical Health Insurance Out of Pocket Cost Deductions 88

Benefit Resource Inc.

OCTOBER 21, 2019

” In the case of pre-tax benefits, we like to say “There’s a plan for that” Regardless of your benefits problem, by comparing Flexible Spending Accounts, Health Savings Accounts and Health Reimbursement Accounts, you can find the right plan to fit your needs. Recommendation: Medical Flexible Spending Account.

Flexible Spending Account 40

Flexible Spending Account Health Savings Account Flexible Spending 401(k) 40

InterWest Insurance Services

DECEMBER 9, 2021

HDHP telehealth services — The CARES Act, signed into law in 2020 after the pandemic started, temporarily allowed high-deductible health plans to pay for telehealth services before an enrollee had met their deductible. 1, 2022, HDHPs must charge enrollees for telehealth services if they have not yet met their deductible. .

Health Insurance 83

Health Insurance Insurance Insurance Carriers Deductions 83

InterWest Insurance Services

SEPTEMBER 27, 2023

Employees have a right to understand the costs they’ll be facing in each plan, including: Their share of the premium, Their deductible, Their copays or coinsurance, and Other out-of-pocket expenses. The lower the premium on the plan, the higher the deductibles and copays. Get an early start If your plan year starts Jan.

Out of Pocket Cost 68

Out of Pocket Cost Flexible Spending Account Health Savings Account Health Insurance 68

Benefit Resource Inc.

OCTOBER 18, 2018

If you have a Flexible Spending Account (FSA), you know that every year during Open Enrollment (OE), you choose how much to put aside in the account, otherwise known as your election. Annual deductible. See Part B of our blog FSA Eligible Purchases for the End of the Year ). Do you meet your deductible every year?

Deductions 74

Deductions Deductible Health Flexible Spending Account 74

Benefit Resource Inc.

OCTOBER 24, 2019

Out-of-pocket costs include deductibles, coinsurance, and copayments for covered services plus all costs for services that aren’t covered” This is where tax free accounts from Benefit Resource come in. Qualified high deductible health plan. Flexible Spending Account. Type of Insurance Plan.

Out of Pocket Cost 45

Out of Pocket Cost Flexible Spending Account Flexible Spending Health Savings Account 45

Benefit Resource Inc.

JUNE 4, 2019

While insurance is available to cover insulin, between high deductibles and the high cost of insulin, many are still left with bills that are difficult to pay. For more guidance on simplifying the complexity of benefits for maximum savings and peace of mind, subscribe to the Benefit Resource Blog today.

Flexible Spending Account 85

Flexible Spending Account Flexible Spending Health Savings Account Insurance 85

McDermott Will & Emery Employee Benefits

NOVEMBER 1, 2023

The Social Security Administration […] The post IRS Announces 2024 Employee Benefit Plan Limits appeared first on EMPLOYEE BENEFITS BLOG. Most of the dollar limits that are subject to adjustment for cost-of-living increases will increase for 2024.

Health and Welfare 105

Health and Welfare Employee Benefits Flexible Spending Account Health Savings Account 105

Benefit Resource Inc.

OCTOBER 9, 2019

It was one of our most read blogs for a while. One reason it was one of the most read blogs is that it offered information on a hard to understand topic. Embedded deductible or deductible. We just wrote another blog on how high deductible can seem like a dirty word. Benefits are a hard to understand topic.

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Deductible Deductions Taxes Insurance 40

AssuredPartners

MARCH 31, 2020

Consumers may also receive reimbursement for OTC purchases through those accounts. In addition, menstrual products are now considered a qualified medical expense, meaning consumers can pay for or be reimbursed for these products through an HSA, HCFSA or HRA. This provision is effective immediately and will expire December 31, 2021.

Health and Welfare 52

Health and Welfare Health Savings Account Out of Pocket Cost Flexible Spending Account 52

McDermott Will & Emery Employee Benefits

OCTOBER 21, 2022

The post IRS Announces 2023 Employee Benefit Plan Limits appeared first on EMPLOYEE BENEFITS BLOG. The table below compares the applicable dollar limits for certain employee benefit programs and the Social Security wage base for 2022 […].

Employee Benefits 98

Employee Benefits Flexible Spending Account Employment Health Savings Account 98

Benefit Resource Inc.

OCTOBER 17, 2019

Plan funding vs deductions. When will you fund the plan vs. when will you take deductions from employees? We recently wrote a blog addressing how to select the best plan funding option. Beyond the question of plan funding versus deductions, another common obstacle to successful plan management is non-discrimination testing.

Management 40

Management Deductions Deductible Health Savings Account 40

Benefit Resource Inc.

JUNE 6, 2019

And by “free” I mean you don’t have to pay even if you haven’t met your deductible or if you have a cost-sharing program that typically involves a co-pay or co-insurance. If you haven’t met your deductible, you will have to pay a portion of the cost-sharing based on your plan.

Out of Pocket Cost 61

Out of Pocket Cost Health Savings Account Mining Healthcare 61

Benefit Resource Inc.

MARCH 12, 2019

This may be the shortest blog on pre-tax benefits you will ever read. When you set an election with a Flexible Spending Account, the amount is locked in for the year. The act of an election being deducted from an employee’s paycheck and being put into a pre-tax account. Witness the transformation. Pre-tax benefits.

Taxes 63

Taxes Flexible Spending Account Health Savings Account Medical 63

Benefit Resource Inc.

OCTOBER 30, 2018

In this section, we’ll explore areas related to Flexible Spending Accounts, Health Savings Accounts, and Health Reimbursement Accounts. 2) Increases your savings through payroll deductions because more employees are willing to enroll in pre-tax benefits. The BRight Ideas Quiz administered by Benefit Resource, Inc.

Flexible Spending Account 56

Flexible Spending Account Taxes Health Savings Account Flexible Spending 56

WEX Inc.

JULY 20, 2023

Deductible options The words “health”, “coverage”, “insurance”, and “deductible” were among the most frequent words to appear when participants were asked in our survey what was missing from their benefits. Specific responses included: “A lower deductible or copay options would be an improvement.” Deductibles are too high.

Deductions 75

Deductions Deductible Flexible Spending Account Health Savings Account 75

WEX Inc.

MAY 2, 2024

Those enrolled in an HSA or a medical flexible spending account (FSA) may also be able to enroll in certain types of HRAs. We support flexible plan designs, empowering you to determine your own benefits goals for your participants by letting you set up your HRA to look however you want. Subscribe to our blog.

Health Savings Account 98

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

Flimp Communications

SEPTEMBER 25, 2024

25% can’t define terms such as “deductible” or “copay.” A health savings account (HSA) or flexible spending account (FSA) will let you pay your drug copays with pre-tax dollars. Check it out here → According to a 2023 KFF survey: 35% of insured people aren’t sure what their insurance will cover. Use your HSA or FSA.

Health Insurance 52

Health Insurance Insurance Health Savings Account Flexible Spending Account 52