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As we prepare for another exciting year of sharing the latest trends and practical insights to improve your benefits experience and that of your employees, lets take a moment to revisit our top 2024 benefits blog posts. Check out our blog post to simplify your FSA experience and make the most of your benefits!
And did you know that a variety of fertility and infertility treatments are eligible for health savings account (HSA) and medical flexiblespending account (FSA) funds? The information in this blog post is for educational purposes only. WEX receives compensation from some of the merchants identified in its blog posts.
However, for participants of health savings accounts (HSAs) or medical flexiblespending accounts (FSAs) , there are ways to alleviate the financial burden associated with vision-related costs. The information in this blog post is for educational purposes only. It is not legal or tax advice. The post Vision expenses piling up?
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.
The IRS recently announced that the annual contribution limit for flexiblespending accounts will rise to $3,200 in 2024, up $150 from this year. Also, employees will be able to carry over up to $640 next year into 2025 if they have funds left over in their account, if their employer allows it (it’s optional).
Participating in a health savings account (HSA) or flexiblespending account (FSA) is a great way to save money. Flexiblespending account An FSA is an employer-owned account that you use to set aside funds for qualified expenses. The information in this blog post is for educational purposes only.
Medical flexiblespending accounts (medical FSAs) are use-or-lose accounts. Subscribe to our blog so you’ll get benefits tips sent right to your email inbox! The information in this blog post is for educational purposes only. WEX receives compensation from some of the merchants identified in its blog posts.
Fortunately, health savings accounts (HSAs) and flexiblespending accounts (FSAs) cover many common winter eligible expenses you might turn to this time of year! The information in this blog post is for educational purposes only. WEX receives compensation from some of the merchants identified in its blog posts.
Under notice 2024-71, flexiblespending arrangements, health reimbursement accounts and health savings accounts will be required to reimburse for the cost of condoms. Oral contraceptives (including emergency contraceptives) and condoms.
In an earlier blog post , I described 12 tax planning topics for 2022. Now that 2021 income tax season has been over for a month and the dust has settled, it is time to start some serious tax planning for 2022.
Flexiblespending accounts (FSA) Flexiblespending accounts (FSAs) offer a valuable tax-advantaged benefit, but the IRS use-or-lose rule can result in forfeited funds if employees dont use their balances by the deadline. The information in this blog post is for educational purposes only.
On November 9, 2023, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the applicable dollar limits for certain health and welfare plan benefits, including those for health flexiblespending arrangements and commuter benefit plans, among other important updates.
Schedule workshops or webinars to break down complex topics like: Health savings accounts (HSAs) Flexiblespending accounts (FSAs) Retirement planning options Emphasize the total rewards picture Highlight how your benefits program fits into your companys total rewards strategy. Learn more by subscribing to our blog.
In fact, staying on top of your health savings account (HSA) , flexiblespending account (FSA) , or any other plan you signed up for throughout the year can pay off for you. Stay updated on the latest trends and insight by subscribing to our blog ! The information in this blog post is for educational purposes only.
For first-time health insurance and benefits electees, we’re kicking off a three-part blog series just for you to walk through considerations when making these decisions. If HSA and FSA participation will play a big role in your health plan decision, check out this blog post to learn more about the differences between the two accounts.
The Internal Revenue Service (IRS) recently issued a Chief Counsel Advice memorandum to remind sponsors of health and dependent care flexiblespending arrangements (FSAs) about their responsibility to adequately substantiate claims in order to receive favorable tax treatment under Section 125 of the Internal Revenue Code (the Code).
The maximum salary reduction limit for a health flexiblespending 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.
HSAs and FSAs: Service dog expenses Health savings accounts (HSAs) and flexiblespending accounts (FSAs) may provide an additional avenue for covering the cost of a service dog. The information in this blog post is for educational purposes only. WEX receives compensation from some of the merchants identified in its blog posts.
An informative blog , educational videos and savings and goal calculators make it easy for you to determine your plan elections. This is your best opportunity to discuss available plans with your employer and learn what has changed from the previous year. The “daily grind” can often get in the way of the big picture, but don’t let it!
To kick off another year of providing you with the employee benefits tips and information you need, we wanted to look back at your favorite blog posts from the last year. Here are our top 10 blog posts from 2022: Your HSA when you change jobs Were you among the 20% of workers expected to quit their jobs in 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, flexiblespending accounts, financial goal progress, and investment portfolio status.
You might be surprised to learn that your health savings account (HSA) and medical flexiblespending account (FSA) can help you save on purchases of a variety of back-to-school, expenses, including: Thermometers. For more insights about HSAs or FSAs, subscribe to our blog or check out our eligible expense list.
And did you know that a variety of fertility and infertility treatments are eligible for health savings account (HSA) and medical flexiblespending account (FSA) funds? The information in this blog post is for educational purposes only. WEX receives compensation from some of the merchants identified in its blog posts.
Did you recently elect to participate in a medical flexiblespending account (FSA) ? What is a medical flexiblespending 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.
Sunscreen can cost as much as $40 a bottle, but did you know you can actually use your health savings account (HSA) or medical flexiblespending account (FSA) funds on many SPF-related expenses? Sunscreen There’s a good chance you’re planning on spending some time in the sun over the next few months. How’s your sunscreen stock?
Your benefits administrator may also offer non-discrimination testing , which is required for flexiblespending accounts (FSAs) , health reimbursement arrangements (HRAs) , and more. The information in this blog post is for educational purposes only. Do our employees understand and value their benefits? Check out our handout.
However, for participants of health savings accounts (HSAs) or medical flexiblespending accounts (FSAs) , there are ways to alleviate the financial burden associated with vision-related costs. The information in this blog post is for educational purposes only. It is not legal or tax advice. The post Vision expenses piling up?
A flexiblespending account (FSA) carryover is one way you can provide flexibility to employees who participate in these accounts. Read our blog posts on grace periods and run-out periods for the rest of the series. This blog was originally published in August 2021 and most recently updated in August 2023.
We think it’s pretty obvious, but we LOVE FlexibleSpending Accounts (FSAs). With roughly 160 FlexibleSpending Account (FSA)-related blogs on our site concentrating on eligibility, spending options, plan strategy, savings, and more…we cover it all! Check out our other blogs here !
A dependent care flexiblespending account lets participants set aside pre-tax dollars to help pay for dependent care. This blog post was most recently updated in July 2023. The information in this blog post is for educational purposes only. Check out our graphic below to learn more about dependent care FSAs!
As we close out the decade, we look back at the most educational, news breaking blogs. From tax reform to how-to articles, here are the top 10 blogs from Benefit Resource: Check Your Balance. From the FSAStore to Amazon, here are the best places to use up your FlexibleSpending Account funds.
For those who have health savings accounts (HSAs) or medical flexiblespending accounts (FSAs) , there are opportunities to save money on these expenses. The information in this blog post is for educational purposes only. WEX receives compensation from some of the merchants identified in its blog posts.
Pre-tax employee benefits plans, such as HSAs and flexiblespending accounts (FSAs) , let you save money by putting aside pre-tax dollars to pay for eligible medical, dental, vision and other expenses. This blog post was most recently updated in November 2024. The information in this blog post is for educational purposes only.
You can also read our blog on substantiation. Savings If you have a pre-tax benefit account like a FlexibleSpending Account , Health Savings Account , or Commuter Benefit Account , you’re already ahead of the game. The secure BRIWEB allows you to quickly see when your claim has been processed and where it stands.
A flexiblespending account (FSA) allows participants to save money by setting aside pre-tax dollars to pay for eligible medical, dental , vision and dependent care expenses incurred by you, your spouse, or your eligible dependents. This blog post was originally published in July 2021 and was most recently updated in August 2023.
The IRS requires your flexiblespending account (FSA) participants to submit documentation to prove their purchase was an eligible expense. The information in this blog post is for educational purposes only. WEX receives compensation from some of the merchants identified in its blog posts. It is not legal or tax advice.
Health savings accounts (HSAs) and flexiblespending accounts (FSAs) are often misunderstood, despite their significant financial advantages. The information in this blog post is for educational purposes only. WEX receives compensation from some of the merchants identified in its blog posts. It is not legal or tax advice.
The most read blogs of 2018. Number three on the list of most read blogs of 2018, this post complemented the substantiation piece and dug a little deeper on how participants can avoid receipt requests. This blog explored a wish-list of items we want to be eligible under an FSA. They’re here. We just compiled them.
Participating in a health savings account (HSA) or flexiblespending account (FSA) is a great way to save money. Flexiblespending account An FSA is an employer-owned account that you use to set aside funds for qualified expenses. The information in this blog post is for educational purposes only.
Flexiblespending accounts (FSAs) are a powerful tool for individuals and employers to save money on healthcare and dependent care expenses. The information in this blog post is for educational purposes only. WEX receives compensation from some of the merchants identified in its blog posts. Download now!
In fact, staying on top of your health savings account (HSA) , flexiblespending account (FSA) , or any other plan you signed up for throughout the year can pay off for you. Stay updated on the latest trends and insight by subscribing to our blog ! The information in this blog post is for educational purposes only.
If you’ve read our other blog “ Wait, what do you mean these aren’t eligible under my FSA? Check out more about dual purpose items and other eligible expenses in our blog “ Top 8 places to use your Health FSA “ The post What does “dual purpose” item mean? Defining dual purpose items.
It’s about what a health savings account or a flexiblespending account can do for them." The information in this blog post is for educational purposes only. WEX receives compensation from some of the merchants identified in its blog posts. It is not legal or tax advice.
For first-time health insurance and benefits electees, we’re kicking off a three-part blog series just for you to walk through considerations when making these decisions. Subscribe to our blog to stay updated on all the benefits information you need! The information in this blog post is for educational purposes only.
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