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6 Key HSA Benefits to Communicate to Employees

Flimp Communications

Their tax advantages and investment potential can help employees reduce healthcare costs, save for retirement, and maximize tax refunds. And yet, that’s not how most employees understand them — if they understand them at all. In short, your employees are missing out, and so is your organization.

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4 HDHP trends you don't want to miss

WEX Inc.

PPO deductible Nearly two-thirds of large employers provide their employees with the choice of an HDHP and a traditional health plan , such as a preferred provider organization (PPO). Typically, an employee enrolled in a PPO will have higher premiums and a lower deductible than an employee enrolled in an HDHP.

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Spread the Word About Additional HSA Contributions

InterWest Insurance Services

If you have staff with health savings accounts, they still have until April 15 to make additional contributions to their accounts if they want to reduce their tax bills for last year. HSAs allow your employees to put away funds to pay for future medical expenses. Withdrawals to reimburse for these expenses are also not taxed.

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Ask an Expert: Is There a 30-Day Grace Period to Make Changes to Elections in Cafeteria Plans?

InterWest Insurance Services

.” Employees cannot change their minds and make changes to pre-tax cafeteria elections during the plan year, once benefits become effective — unless a special enrollment period as defined under IRC Section 125 applies , or the employer is correcting an administrative error. This is not correct.

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IRS Permanently Extends Deadlines for ACA Reports to Individuals

Proskauer's Employee Benefits & Executive Compensa

The final regulations are consistent with the proposed regulations, discussed in detail in our earlier blog post. Additionally, the notice must be written in plain, non-technical terms and in a large enough font size to call to a viewer’s attention that the information pertains to tax statements reporting that individuals had health coverage.

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From deductibles to wellness: Why benefits options matter

WEX Inc.

More dental and vision Among employers with benefits administration through WEX , 68% of eligible employees enrolled in vision and 77% of eligible employees enrolled in dental. However, not all employees are offered these benefits. The information in this blog post is for educational purposes only.

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Four High Deductible Health Plan Mistakes to Avoid

InterWest Insurance Services

With more than half of all private sector employees enrolled in high-deductible health plans , it’s important that employers have in place certain protocols to ensure that they are a success. HSAs are tax-advantaged accounts that allow enrollees to save up to pay qualified medical expenses.