WEX Inc.

SEPTEMBER 19, 2024

However, for participants of health savings accounts (HSAs) or medical flexible spending 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.

Health 98

Health Flexible Spending Account Health Savings Account Flexible Spending 98

WEX Inc.

OCTOBER 9, 2024

Health savings accounts (HSAs) and flexible spending accounts (FSAs) are often misunderstood, despite their significant financial advantages. It’s time to clarify the ins and outs of these tax-saving healthcare accounts and answer some HSA and FSA FAQs. The tax savings are significant.

Flexible Spending Account 95

Flexible Spending Account Health Savings Account Flexible Spending Taxes 95

Benefit Resource Inc.

APRIL 7, 2023

Since April is Stress Awareness Month, we’ve highlighted five pre-tax benefit services and resources to keep your stress levels low and your health levels high. You can also read our blog on substantiation. Each dollar going into a pre-tax benefit account saves you 30 to 40 cents per dollar.

Taxes 98

Taxes Flexible Spending Account Health Savings Account Flexible Spending 98

WEX Inc.

JANUARY 3, 2023

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?

Education 52

Education Flexible Spending Account Health Savings Account Flexible Spending 52

Benefit Resource Inc.

DECEMBER 30, 2022

Pre-tax benefits are growing in popularity amongst employers and employees alike. This is because they offer a great way to save on taxes while still being able to use funds for medical, dependent care, and other expenses. In the last year alone, we’ve learned a lot about pre-tax benefits and how to maximize their potential.

Taxes 75

Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

WEX Inc.

AUGUST 10, 2023

You might be surprised to learn that your health savings account (HSA) and medical flexible spending 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.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

AUGUST 29, 2023

And did you know that a variety of fertility and infertility treatments are eligible for health savings account (HSA) and medical flexible spending account (FSA) funds? The information in this blog post is for educational purposes only. It is not legal or tax advice. What are fertility benefits?

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

JULY 9, 2023

A dependent care flexible spending account lets participants set aside pre-tax dollars to help pay for dependent care. Contributing to this benefit reduces taxable income and spreads the benefits of pre-tax dollars throughout the year, helping you save 30 percent or more on your dependent care costs.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Taxes Consulting 98

WEX Inc.

SEPTEMBER 21, 2023

However, for participants of health savings accounts (HSAs) or medical flexible spending 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.

Health 98

Health Flexible Spending Account Health Savings Account Flexible Spending 98

WEX Inc.

OCTOBER 4, 2023

Participating in a health savings account (HSA) or flexible spending account (FSA) is a great way to save money. Health savings account An HSA is an individually owned benefits plan funded by you or your employer that lets you save on purchases of eligible expenses.

401(k) 98

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

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)? A medical FSA is a tax-advantaged employee benefit that gives participants the opportunity to save on out-of-pocket medical, dental, and vision eligible expenses.

Medical 98

Medical Flexible Spending Account Flexible Spending Taxes 98

WEX Inc.

AUGUST 7, 2023

Sunscreen can cost as much as $40 a bottle, but did you know you can actually use your health savings account (HSA) or medical flexible spending 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.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

AUGUST 14, 2023

A flexible spending 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.

Flexible Spending Account 98

Flexible Spending Account IT Flexible Spending Taxes 98

WEX Inc.

MAY 4, 2023

The IRS requires your flexible spending account (FSA) participants to submit documentation to prove their purchase was an eligible expense. Because of an FSA’s tax advantages, the IRS requires employers and employees to prove that FSA funds are only being spent on eligible expenses. It is not legal or tax advice.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Taxes Medical 98

WEX Inc.

AUGUST 2, 2023

A flexible spending 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. FSAs are an employer-owned account , and the IRS sets limits on annual FSA contributions.

Flexible Spending Account 98

Flexible Spending Account Deductions Deductible Health 98

WEX Inc.

MAY 31, 2023

For those who have health savings accounts (HSAs) or medical flexible spending accounts (FSAs) , there are opportunities to save money on these expenses. The information in this blog post is for educational purposes only. It is not legal or tax advice. Check out FSA Store!

Medical 98

Medical Flexible Spending Account Health Savings Account Flexible Spending 98

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. Learn more about FSAs and other employee benefits by subscribing to our blog !

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account Taxes 52

WEX Inc.

SEPTEMBER 7, 2023

Flexible spending accounts (FSAs) are a powerful tool for individuals and employers to save money on healthcare and dependent care expenses. Illustrate how pre-tax contributions lead to significant savings over time, effectively reducing the impact on take-home pay. It is not legal, financial, or tax advice.

Flexible Spending Account 98

Flexible Spending Account Take Home Pay Flexible Spending Healthcare 98

WEX Inc.

MAY 2, 2024

For employers, HRAs or HSAs come with perks, including tax savings and increased employee retention. Health reimbursement arrangement An HRA is an employer-funded benefits plan that employees use to save pre-tax dollars on medical costs. Health savings account An HSA is a participant-owned account funded by you and/or your employees.

Health Savings Account 98

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

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

Benefit Resource Inc.

APRIL 10, 2024

What is a Dependent Care Flexible Spending Account (DCFSA)? First things first, let’s clarify what a dependent care flexible spending account actually is. The Power of Pre-Tax Dollars One of the most significant advantages of a DCFSA is the ability to use pre-tax dollars for eligible expenses.

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Taxes Utilities 52

InterWest Insurance Services

SEPTEMBER 23, 2024

These plans allow workers to withhold a portion of their pre-tax salary to cover certain medical or childcare expenses. The benefits are free from federal and state income taxes, employees’ taxable income is reduced and that means that employers don’t have to pay FICA on those dollars.

Flexible Spending Account 70

Flexible Spending Account Benefits Package Deductions Deductible 70

WEX Inc.

JULY 7, 2023

The IRS’ use-or-lose rule governs flexible spending accounts (FSAs). A flexible spending account (FSA) is an employer-sponsored benefit that allows employees to set aside a portion of their pre-tax salary to pay for qualified medical expenses or dependent care expenses. It is not legal or tax advice.

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account IT 52

Benefit Resource Inc.

JANUARY 2, 2020

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. So far, prices have held steady… Pre-tax limits. Stay on the ball and check view 2020 pre-tax limits here and here.

Flexible Spending Account 40

Flexible Spending Account Flexible Spending Health Savings Account Taxes 40

WEX Inc.

FEBRUARY 23, 2023

In fact, staying on top of your health savings account (HSA) , flexible spending account (FSA) , or any other plan you signed up for throughout the year can pay off for you. Add dependents Your HSA or FSA may cover your dependents’ costs if the dependents are claimed on your tax return. How do you do this?

Flexible Spending Account 98

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

Benefit Resource Inc.

MARCH 28, 2024

Pre-tax benefits are a powerful tool for saving money and maximizing your income. From flexible spending accounts (FSAs) to health savings accounts (HSAs) and commuter benefits, these options offer significant advantages if managed wisely. This includes copayments, deductibles, prescriptions, and more.

Flexible Spending Account 52

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

WEX Inc.

MAY 24, 2023

It’s about what a health savings account or a flexible spending account can do for them." The information in this blog post is for educational purposes only. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.

Flexible Spending Account 97

Flexible Spending Account Health Savings Account Benefit Providers Flexible Spending 97

WEX Inc.

JULY 20, 2023

HSA or FSA options Similar to the choice in health plans, many participants told us in the survey that they wanted to choose between either a health savings account (HSA) or a flexible spending account (FSA). The information in this blog post is for educational purposes only.

Deductions 75

Deductions Deductible Flexible Spending Account Health Savings Account 75

WEX Inc.

SEPTEMBER 4, 2024

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. However, your eligibility for either account can be influenced by the health plan you choose. The information in this blog post is for educational purposes only.

Deductions 52

Deductions Deductible Flexible Spending Account Healthcare 52

WEX Inc.

AUGUST 15, 2023

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. However, your eligibility for either account can be influenced by the health plan you choose. The information in this blog post is for educational purposes only.

Deductions 98

Deductions Deductible Healthcare Flexible Spending Account 98

WEX Inc.

SEPTEMBER 18, 2024

For example, do you have any new dependents who have healthcare needs and could be covered by a pre-tax benefits plan? Use available tools and resources to learn more about pre-tax benefits and to plan for the year ahead. Consider any major life changes you and your family have experienced in the previous year.

401(k) 52

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

WEX Inc.

SEPTEMBER 12, 2023

If you’ve never been asked if you would like to participate in an employee benefits account before, you might be asking yourself, “What are all these acronyms?” Click here for the first blog post in our series on choosing a health plan for the first time. Subscribe to our blog to stay updated on all the benefits information!

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Life Insurance 52

WEX Inc.

SEPTEMBER 14, 2023

For example, do you have any new dependents who have healthcare needs and could be covered by a pre-tax benefits plan? Use available tools and resources to learn more about pre-tax benefits and to plan for the year ahead. Consider any major life changes you and your family have experienced in the previous year.

401(k) 98

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

Flimp Communications

OCTOBER 25, 2024

Will I get hit with a huge tax bill?” “How Here are a few email templates — yours for the taking and adapting — designed to improve employee financial wellness by answering three common questions about money, savings, and taxes: Should I consider a Roth 401(k)? How and when should I spend my HSA/FSA funds? Will I lose it all?”

roth 401(k) 52

roth 401(k) 401(k) Flexible Spending Account Taxes 52

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

InterWest Insurance Services

OCTOBER 27, 2022

As health care costs continue rising and employees are being asked to shoulder more of the expense burden, you can help them by offering a tax-advantaged plan that allows them to save for medical expenses. Employees can save an average of 30% in federal, state and local taxes on items they already pay for out of pocket.

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. Since the salary reductions are not received by the employee, they are not considered wages for income tax purposes. Flexible spending account. Set-up and tax implications.

Flexible Spending Account 75

Flexible Spending Account 401(k) Flexible Spending Deductions 75