WEX Inc.

MAY 17, 2023

2024 HDHP minimum deductible and maximum out-of-pocket limits also are increasing. Health savings account (HSA) contribution limits are on the rise again in 2024. 2024 high-deductible health plan (HDHP) amounts and expense limits also increased. Be bold in support of your employees' retirement needs!

Health Savings Account 98

Health Savings Account Deductible Deductions Taxes 98

WEX Inc.

MAY 8, 2023

More employees are enrolling in a high-deductible health plan (HDHP) each year, including more than half of U.S. But there are still misunderstandings that exist among employees about the significant value of an HDHP (or HSA-eligible health plan) and how it compares to a traditional health plan.

Deductions 97

Deductions Deductible Health Savings Account Employee Enrollments 97

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

InterWest Insurance Services

APRIL 27, 2023

The HDHP effect The report found that health maintenance organizations and preferred provider organizations continue to dominate the landscape in group health benefits for SMBs. Gap plans can help by providing coverage when employees have not met their health care deductible.

Health Insurance 98

Health Insurance Insurance Out of Pocket Cost Deductible 98

WEX Inc.

JUNE 13, 2024

To help you prepare, here is a breakdown of three common retirement accounts: an HSA vs. a 401(k) vs. an IRA. An HSA is … A health savings account (HSA) is a tax-advantage account that participants can pay for healthcare expenses, save for the future, and invest to build your savings.

401(k) 96

401(k) Retirement Plan Health Savings Account Deductible 96

WEX Inc.

AUGUST 15, 2023

If you rarely require medical care and prefer to save on monthly premiums, a plan with a higher deductible and lower premiums might be suitable. On the other hand, if you anticipate regular medical visits, chronic conditions, or potential emergencies, a plan with lower deductibles and higher premiums may offer better cost protections.

Deductible 98

Deductible Deductions Healthcare Flexible Spending Account 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. It is not legal or tax advice.

Flexible Spending Account 95

Flexible Spending Account Health Savings Account Flexible Spending Taxes 95

WEX Inc.

JULY 24, 2023

And it’s a solution you might already be offering: the health savings account. These accounts provide another way for your employees to diversify their efforts to prepare for retirement. That means we have roughly 30% that are taking on more deductible risk without getting the offsetting benefits that an HSA affords.”

Retirement Plan 98

Retirement Plan 401(k) Health Savings Account Taxes 98

WEX Inc.

AUGUST 2, 2023

Unlike a medical FSA, a limited FSA can be paired with a health savings account (HSA) and a high-deductible health plan (HDHP). Combination FSA, which is a limited FSA that converts into a medical FSA once the IRS deductible is met. Your employer can contribute to the FSA, but is not required to.

Flexible Spending Account 98

Flexible Spending Account Deductible Deductions Health 98

InterWest Insurance Services

AUGUST 5, 2022

The biggest concern among employers is the increasing costs that employees have to shoulder for their health benefits. Employers are starting to realize that a high-deductible health plan with an attached health savings account is not a good fit for all of their employees. workers with more medical debt.

Health Insurance 98

Health Insurance Insurance Deductible Deductions 98

Benefit Resource Inc.

AUGUST 13, 2019

The term “high deductible health plan” has often carried with it a negative connotation for employees. According to a recent article from SHRM covering research from the Employees Benefit Research Institute (EBRI), enrollment in an HDHP promotes more conscious health care purchase decisions. Like this blog?

Deductible 45

Deductible Deductions Health Savings Account Employee Enrollments 45

WEX Inc.

APRIL 25, 2024

High-deductible health plans (HDHPs) have become increasingly popular over the last few years by offering unique features and benefits that appeal to many individuals and families. An HDHP is a type of health plan characterized by its higher deductibles and typically lower premiums compared to traditional health plans.

Health Savings Account 52

Health Savings Account Deductions Deductible Out of Pocket Cost 52

Griffin Benefits

DECEMBER 30, 2022

On nearly the eve of its expiration, Congress has extended the ability of high deductible health plans (“HDHPs”) to offer first-dollar telehealth coverage through plan years beginning before January 1, 2025. Making optional the requirement to report a value for amounts not applied to the deductible or out-of-pocket maximum.

Deductible 84

Deductible Deductions Health Savings Account Taxes 84

WEX Inc.

JULY 24, 2024

For example, WEX benefits administration clients can take advantage of our custom communication workshops where we consult with key stakeholders to create a campaign, creative theme, and point of focus around a specific enrollment goal, or particular benefit offering for employee education outreach. It is not legal or tax advice.

Health Savings Account 59

Health Savings Account Taxes Health Insurance Deductible 59

WEX Inc.

NOVEMBER 27, 2024

Nearly two-thirds of large employers provide their employees with the choice of a high-deductible health plan (HDHP) and a traditional health plan, such as a preferred provider organization (PPO), during open enrollment. The IRS sets deductible limits that determine what is an HDHP. Does your employer offer options?

Deductible 52

Deductible Deductions Health Savings Account Flexible Spending Account 52

WEX Inc.

DECEMBER 5, 2024

Fortunately, when you participate in a health savings account (HSA) through your employer, your HSA stays with you. You have options HSA transfer If your new employer offers an HSA, you can transfer the administration of your account to your new employer’s HSA administrator. Have you recently changed employers?

Health Savings Account 52

Health Savings Account Taxes Deductible Deductions 52

WEX Inc.

NOVEMBER 19, 2024

Health savings account (HSA) eligibility is determined on an individual basis. If the employee is enrolled in a qualifying high-deductible health plan (HDHP) , does not have any disqualifying coverage, and cannot be claimed as another’s tax dependent, the employee is eligible to contribute to an HSA.

Health Savings Account 52

Health Savings Account Deductible Deductions Taxes 52

CorpStrat

DECEMBER 4, 2024

Pairing high-deductible health plans (HDHPs) with Health Savings Accounts (HSAs) or adding wellness programs can help employees offset costs while staying engaged in their health. Schedule a free consultation today to see how we can support your business. Let’s talk! Let’s make it work for you.

Employee Benefits 52

Employee Benefits Employment Disability Insurance Health Savings Account 52

WEX Inc.

OCTOBER 8, 2024

While health savings accounts (HSAs) can support short-term and emergency needs , HSA participants are increasingly taking advantage of these accounts’ investment potential. Zach’s strategy includes: Growing your HSA enough to cover your deductible and invest the rest. It is not legal or tax advice.

401(k) 52

401(k) Health Savings Account Deductible Deductions 52

WEX Inc.

SEPTEMBER 4, 2024

If you rarely require medical care and prefer to save on monthly premiums, a plan with a higher deductible and lower premiums might be suitable. On the other hand, if you anticipate regular medical visits, chronic conditions, or potential emergencies, a plan with lower deductibles and higher premiums may offer better cost protections.

Deductible 52

Deductible Deductions Flexible Spending Account Healthcare 52

Business Management Daily

NOVEMBER 15, 2021

Many employees are coming to the end of the year and realizing that they still have a lot of money in their FSA accounts that they need to spend. They may also be questioning whether they have a need for an FSA and if so, how much they should choose to have deducted each month. Copays, co-insurance, and deductibles for medical care.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Medical Healthcare 98

WEX Inc.

OCTOBER 15, 2024

Today, to commemorate National Health Savings Account Awareness Day (HSA Day) celebrated annually on October 15, WEX is highlighting available resources to help employers and employees better understand the impressive value of HSAs for both wellbeing and wallets. Employers’ contributions to employees’ HSAs are tax deductible.

401(k) 52

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

WEX Inc.

APRIL 12, 2023

Health saving accounts (HSAs) offer an excellent opportunity for participants to save money on healthcare expenses and for employers to support their employees’ wellness needs in a cost-efficient way. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.

Health Savings Account 52

Health Savings Account Deductible Deductions Flexible Spending Account 52

WEX Inc.

JANUARY 4, 2023

Health Savings Account (HSA) HSAs are individually owned accounts, so your HSA will stay with you no matter whether or how you qualify for 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 ).

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

WEX Inc.

JUNE 13, 2024

Limited medical FSA: Similar to a medical FSA, but can be paired with high-deductible health plans (HDHPs) and health savings accounts (HSAs) , covering dental and vision expenses. Combination FSA: A limited FSA that converts into a medical FSA once the IRS deductible is met. It is not legal or tax advice.

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account Taxes 52

Griffin Benefits

JULY 30, 2021

With over half of today's workforce enrolled in high-deductible health plans (51%), a majority of insured individuals are now on the hook for deductibles of at least $1,400. In a future post, we'll offer tips on how to save money on common medical procedures. Please share this information with your workforce.

Medical 52

Medical Pharmaceutical Deductible Deductions 52

Business Management Daily

OCTOBER 15, 2020

Employers can expect health benefit costs to rise 4.4% on average in 2021, compared to 2020, according to early results from the Mercer consulting firm’s National Survey of Employer-Sponsored Health Plans 2020. The wild card driving higher health benefit costs: The coronavirus pandemic.

Health Savings Account 52

Health Savings Account Healthcare Life Insurance Insurance 52

Benefit Resource Inc.

MAY 2, 2023

Pre-tax benefits, such as Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs) , allow employees to set aside a portion of their pre-tax income to pay for healthcare-related expenses. This can include increasing the number of pre-tax deductions available to employees.

Employment 52

Employment Flexible Spending Account Benefits Package Healthcare 52

Insperity

MARCH 12, 2024

Flexible spending accounts (FSAs) and health savings accounts (HSAs) HSAs and FSAs can help employees better prepare for medical expenses and, in the case of HSAs, even help employees enhance their retirement savings. per hour, per employee, to provide health insurance to their workforce (as of December 2023).

Family and Medical Leave Act 59

Family and Medical Leave Act Employee Benefits PTO 401(k) 59

Flimp Communications

OCTOBER 25, 2024

Thanks to your contributions, matching funds from us, and investment gains, your account will grow over the years and be available to use when you retire. With a traditional 401(k), contributions are tax-deductible, which reduces your adjusted gross income on your taxes. Consult a financial advisor if you are unsure.

roth 401(k) 52

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

Empuls

JULY 11, 2023

tax free benefits are those that provide financial advantages for both employees and employers by avoiding certain taxes and deductions. Non taxable employee benefits refer to various perks and incentives provided by employers that are exempt from certain taxes and deductions. However, the benefit comes when the stock is sold.

Employee Benefits 40

Employee Benefits roth 401(k) Flexible Spending Account 401(k) 40

Business Management Daily

APRIL 25, 2024

Taxable vs. Non-taxable Benefits are always tax-deductible, aren’t they? Consult an accountant as necessary. Employers can use this to their favor by distinguishing themselves as a desirable place to work. Let’s talk about the different types of fringe benefits and how employers can make the most of them.

Taxes 52

Taxes Retirement Plan Employee Stock Option Transportation 52

Empuls

AUGUST 27, 2024

Ways to improve employee satisfaction Key options of benefits for employees to improve employee satisfaction and best human resource practices: Health insurance: Good health of the employees is not possible without comprehensive health insurance.

Family and Medical Leave Act 40

Family and Medical Leave Act Employee Benefits 401(k) Benefits Package 40

Empuls

JULY 16, 2024

Wellness incentives recognize the multifaceted nature of employee health and create a culture that prioritizes well-being.    The rewards themselves can be diverse, ranging from reduced healthcare premiums to contributions to health savings accounts, gym memberships, or even cash bonuses.

Food 52

Food Health Savings Account Health Insurance Bonuses 52

WEX Inc.

FEBRUARY 2, 2023

trillion spending bill also extended a provision that provided relief to health savings account (HSA) participants. HSA-qualifying health plans may continue to cover telehealth services on a pre-deductible basis through 2024. This flexibility was first provided as part of the 2020 CARES Act.

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account Taxes 52

InterWest Insurance Services

JANUARY 26, 2022

Mental health issues have come to the fore during the COVID-19 pandemic, spurring employers to expect their group health plans to do more for their workers in this area. workers are increasingly having difficulties in paying for health care, particularly due to high copays, deductibles and other health plan cost-sharing elements.

Out of Pocket Cost 98

Out of Pocket Cost Deductible Deductions Flexible Spending Account 98

Griffin Benefits

JUNE 27, 2022

This also means that employees could not seek reimbursement under health FSAs, health reimbursement arrangements, or health savings accounts (“HSAs”) if the abortion is conducted in a state that prohibits abortion. Abortion would most likely be legal where the life of the mother is in danger.

Employment 74

Employment Medical Taxes Health Savings Account 74