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. If not, the employee risks forfeiting the money.

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Flexible Spending Account Health Savings Account Flexible Spending Taxes 95

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.

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WEX Inc.

NOVEMBER 27, 2024

Your health plan drives many of your decisions during open enrollment. One emerging trend is employers offering their employees health plan options. Does your employer offer options? You must be enrolled in an HDHP to be eligible to participate in a health savings account (HSA). What’s a PPO?

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WEX Inc.

MAY 10, 2024

Health savings account (HSA) contribution limits are on the rise again in 2025. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers. 2025 HDHP minimum deductible and maximum out-of-pocket limits also are increasing. It is not legal or tax advice.

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WEX Inc.

AUGUST 21, 2024

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. Employers determine whether their medical FSAs include a carryover. So what is the use-or-lose rule? What is a FSA?

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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. It is not legal, tax, or investment advice.

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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? For legal or tax advice, you should consult your own legal counsel, tax and investment advisers. What are fertility benefits?

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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. Leveraging employer-matching contributions to grow your funds. In 2023, HSA investment assets grew 37% year-over-year to nearly $46 billion.

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401(k) Health Savings Account Deductions Deductible 52

WEX Inc.

JUNE 13, 2024

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. Employers can also contribute to their employees’ HSAs. Employers can also contribute to their employees’ HSAs.

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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. What employers are saying about employee finances and retirement? Can someone open an HSA without going through their employer?

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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. goal technique.

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WEX Inc.

SEPTEMBER 21, 2023

Visual health is a vital component of overall well-being, and unexpected eye-related expenses can put a strain on your finances. 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.

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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? For legal or tax advice, you should consult your own counsel. How’s your sunscreen stock? It is not legal or tax advice.

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Benefit Resource Inc.

MAY 2, 2023

As a result, many employers are in hyper-vigilance mode, anticipating the next recession and bracing themselves for a potentially difficult ride. In this climate, employers are considering a range of strategies to mitigate their financial risks in anticipation of a possible recession.

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WEX Inc.

MAY 8, 2023

HDHP vs. 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). For legal or tax advice, you should consult your own legal counsel, tax and investment advisers. It is not legal or tax advice.

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WEX Inc.

MAY 17, 2023

Health savings account (HSA) contribution limits are on the rise again in 2024. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers. 2024 HDHP minimum deductible and maximum out-of-pocket limits also are increasing. Be bold in support of your employees' retirement needs!

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WEX Inc.

OCTOBER 4, 2023

The 20th anniversary of health savings accounts (HSAs) marks a significant milestone for these accounts, which have empowered tens of millions of Americans to save for both immediate and future medical expenses. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.

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WEX Inc.

OCTOBER 12, 2023

As an employer, providing a robust employee benefits package is only half the battle. Health savings accounts (HSAs) HSA participants save money by contributing funds to their HSA pre-tax. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers. Download now!

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WEX Inc.

MAY 24, 2023

Often, employees feel confused about their benefits plans options, especially if their employer is using “complicated HR jargon” in their benefits messaging. Let’s explore tips on how employers can effectively communicate benefits messaging to employees in a way that’s relatable and easy to understand. It is not legal or tax advice.

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WEX Inc.

OCTOBER 1, 2024

Health savings accounts (HSAs) offer a powerful tool for managing healthcare expenses and saving for the future, but how you use them depends on your personal goals and financial situation. As Julie Natale highlighted, employer contributions can compound these benefits, helping to grow your HSA more quickly.

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WEX Inc.

SEPTEMBER 25, 2023

A great example of this is education at summertime around how to maximize your health savings account (HSA) dollars for typical hot weather spending such as sunscreen and aloe vera! However, less than half of benefit-eligible employees actually take advantage of employer-offered benefits. It is not legal or tax advice.

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Benefit Resource Inc.

MARCH 20, 2024

Every day, we have the privilege of working closely with thousands of employers, employees, and consultants, fostering relationships built on trust to simplify benefits and offer tax-advantaged savings and peace of mind,” said Jennie Boeckmann, BRI regional sales manager. Learn more at inspirafinancial.com.

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WEX Inc.

JULY 20, 2023

Nearly two-thirds of large employers offer their employees a choice between an HSA-eligible health plan (also known as a high-deductible health plan ) and a traditional health plan. For legal, financial, or tax advice, you should consult your own legal counsel, tax and investment advisers.

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WEX Inc.

MAY 12, 2023

There are a variety of ways you can promote mental health in the office , and one way is to provide benefits that support your employees' needs. For example, your employees can use their health savings account (HSA) to improve their financial wellness and save money on a variety of mental health-related expenses.

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Health Savings Account Medical Retirement Plan Taxes 98

InterWest Insurance Services

APRIL 27, 2023

A new report has found that small businesses that purchase their group health insurance online or through payroll vendors saw the largest premium hikes in 2022, significantly higher than those that went through brokers. Overall, more than half of SMB employees opt out of their employer-sponsored coverage.

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Health Insurance Insurance Out of Pocket Cost Deductions 79

WEX Inc.

JANUARY 4, 2023

And election of COBRA can affect your ability to use the reimbursement accounts in which you were participating prior to your COBRA eligibility. 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.

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WEX Inc.

MAY 28, 2024

There are a variety of ways you can promote mental health in the office , and one way is to provide benefits that support your employees’ needs. For example, your employees can use their health savings account (HSA) to improve their financial wellness and save money on a variety of mental health-related expenses.

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WEX Inc.

AUGUST 24, 2023

This could include saving money, raising their kids, and preparing for retirement. It’s important not to lose sight of that when developing content and communicating that you offer a health savings account (HSA) , flexible spending account (FSA) , or any other benefits. That’s what motivates your employees.

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Health Consultants Group

OCTOBER 1, 2021

Just like workers in all business environments, your employees are assessing their lives, reevaluating their careers, and reconsidering their employment options. . Accident and Health Benefits . Health Savings Accounts. Flexible Spending Accounts: funded by salary reduction. Adoption Benefits. Contact Us.

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WEX Inc.

MAY 8, 2024

For example, My HSA Planner makes learning about how to utilize health savings accounts (HSAs) a breeze. Another plan that has gained popularity in recent years is lifestyle spending accounts (LSAs). Employer contributions to HSAs can also serve as powerful incentives. It is not legal or tax advice.

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WEX Inc.

AUGUST 2, 2023

A FSA is an account that allows you to set aside pre-tax funds to pay out-of-pocket healthcare costs. FSAs are an employer-owned account , and the IRS sets limits on annual FSA contributions. Employers can provide either a grace period to use the money within the plan year, or a carryover of up to $610 from the plan year.

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Flexible Spending Account Deductions Deductible Health 98

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. With employer-sponsored health plans, there’s fiduciary oversight. Follow DOL claims procedures.

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WEX Inc.

SEPTEMBER 24, 2024

Being able to differentiate yourselves as an employer by saying ‘Whatever is important to you (like your pets) is important to us too’ really helps employers to stand out,” said Moszer on our Benefits podcast. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.

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CorpStrat

JANUARY 22, 2024

This means your employees can consult healthcare professionals from the comfort of their homes, saving time and reducing the need for in-person visits. Mental Health Support Mental wellness is crucial. Your plan likely includes access to mental health professionals, including counselors or therapists, often at no extra cost.

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InterWest Insurance Services

AUGUST 5, 2022

As the 2023 group health open enrollment season nears, more employers have heard concerns among their staff and are focusing on affordability and easier access to health care services, according to a new study. The survey found that 70% of all large employers were planning benefit enhancements for 2023.

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WEX Inc.

JANUARY 30, 2023

And a new health savings account (HSA). Since HSAs are employee-owned, they stay with you even when you leave your employer. Since HSAs are employee-owned, they stay with you even when you leave your employer. As you change jobs, you may have two, three, four, or more of these accounts open. New career.

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HR Lineup

FEBRUARY 13, 2023

USI is a leading insurance brokerage and consulting firm that specializes in employee benefits. USI’s employee benefits offerings are designed to meet the needs of a diverse workforce and support employers in creating a supportive and healthy work environment.

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