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Best For: HR professionals, benefits administrators, and consultants seeking an in-depth understanding of employee benefits. Best For: Benefits managers, HR professionals, and consultants involved in creating and managing employee benefits plans. It’s perfect for those who manage employee healthsavings programs.
And did you know that a variety of fertility and infertility treatments are eligible for healthsavingsaccount (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?
Healthsavingsaccounts (HSAs) HSA participants save money by contributing funds to their HSA pre-tax. Personalized assistance: Offer phone calls or chat-based consultations to address individual questions and provide tailored guidance. One of the questions we asked: What benefit would you like to learn more about?
Participating in a healthsavingsaccount (HSA) or flexible spending account (FSA) is a great way to save money. Healthsavingsaccount An HSA is an individually owned benefits plan funded by you or your employer that lets you save on purchases of eligible expenses.
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 healthsavingsaccounts (HSAs) or medical flexible spending accounts (FSAs) , there are ways to alleviate the financial burden associated with vision-related costs.
Beyond the traditional 401(k) match , some employers are introducing student loan repayment matching , helping employees reduce debt while saving for retirement. For legal, tax or investment advice, you should consult your own legal counsel, tax and investment advisers. It is not legal, tax or investment advice.
Does your healthsavingsaccount (HSA) have enough funds to carry you through the second half of the year? For legal or tax advice, you should consult your own counsel. And, if it does, is there more you could be doing to grow those funds? Perform your HSA midyear check! It is not legal or tax advice. The post It’s July.
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. Check out our examples of S.M.A.R.T.
Fortunately, healthsavingsaccounts (HSAs) and flexible spending accounts (FSAs) cover many common winter eligible expenses you might turn to this time of year! For legal or tax advice, you should consult your own legal counsel, tax and investment advisers. Shop hundreds of eligible expenses at FSA Store!
How past elections shaped policy From the creation of healthsavingsaccounts (HSAs) under the Medicare Modernization Act of 2003 to the Affordable Care Act (ACA) under President Obama, election cycles have repeatedly sparked discussions about healthcare reform. The information in this blog post is for educational purposes only.
As an employee with a HealthSavingsAccount (HSA), knowing what you need to report during tax season is important. It’s important only to use your HSA funds for qualified healthcare expenses , so make sure you keep good records and consult a tax professional if you’re unsure about what qualifies.
7 basic rules of an HSA you need to know Maximize the potential of your healthsavingsaccount (HSA) by mastering these 7 essential rules. Discover how to make smarter contributions, save on healthcare costs, and plan for a healthier financial future. What is a dependent care FSA? It is not legal or tax advice.
Targeted recommendations: By analyzing factors such as age, role, family status, and location, AI can suggest benefits options like healthsavingsaccounts (HSAs) , retirement plans, or wellness programs that are most relevant to each employee. Check it out here. It is not legal, tax or investment advice.
Fortunately, when you participate in a healthsavingsaccount (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?
Today, to commemorate National HealthSavingsAccount 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. The information in this post is for educational purposes only.
In fact, staying on top of your healthsavingsaccount (HSA) , flexible spending account (FSA) , or any other plan you signed up for throughout the year can pay off for you. For legal or tax advice, you should consult your own counsel. Weve compiled some tips to help you if you participate in a WEX benefits plan.
Pairing high-deductible health plans (HDHPs) with HealthSavingsAccounts (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.
Do Strategic Tax Planning- Explore tax planning strategies that may apply to your situation, such as bunching deductions, contributing to a HealthSavingsAccount (HSA), Roth IRA conversions, or utilizing tax-loss harvesting to offset capital gains.
Schedule workshops or webinars to break down complex topics like: Healthsavingsaccounts (HSAs) Flexible spending accounts (FSAs) Retirement planning options Emphasize the total rewards picture Highlight how your benefits program fits into your companys total rewards strategy. It is not legal or tax advice.
Healthsavingsaccount (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.
You must be enrolled in an HDHP to be eligible to participate in a healthsavingsaccount (HSA). PPOs are a common type of traditional health plan. For legal or tax advice, you should consult your own counsel. The post HDHP vs. PPO: Choose the health plan that’s right for you appeared first on WEX Inc.
For example, if healthsavingsaccount (HSA) participation was lower than expected, you might plan targeted campaigns to explain their advantages. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers. The information in this blog post is for educational purposes only.
And did you know that a variety of fertility and infertility treatments are eligible for healthsavingsaccount (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?
Participating in a healthsavingsaccount (HSA) or flexible spending account (FSA) is a great way to save money. Healthsavingsaccount An HSA is an individually owned benefits plan funded by you or your employer that lets you save on purchases of eligible expenses.
HSAs and FSAs as an option Healthsavingsaccounts (HSAs) and flexible spending accounts (FSAs) are among the pre-tax accounts you can contribute funds to and save money on healthcare costs. However, your eligibility for either account can be influenced by the health plan you choose.
Healthsavingsaccount (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!
Sunscreen can cost as much as $40 a bottle, but did you know you can actually use your healthsavingsaccount (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.
You might be surprised to learn that your healthsavingsaccount (HSA) and medical flexible spending account (FSA) can help you save on purchases of a variety of back-to-school, expenses, including: Thermometers. Are you preparing to send your kids back to school soon?
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 healthsavingsaccounts (HSAs) or medical flexible spending accounts (FSAs) , there are ways to alleviate the financial burden associated with vision-related costs.
For those who have healthsavingsaccounts (HSAs) or medical flexible spending accounts (FSAs) , there are opportunities to save money on these expenses. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers. Check out FSA Store! It is not legal or tax advice.
HDHPs can actually be a great healthcare saving option for employees of all ages. Along with paying a lower premium, HDHPs offer financial opportunities that PPOs do not because employees can enroll in a healthsavingsaccount (HSA) , but only if they’re also enrolled in an HSA-eligible HDHP.
And it’s a solution you might already be offering: the healthsavingsaccount. These accounts provide another way for your employees to diversify their efforts to prepare for retirement. Employers may establish an HSA program for employees that enroll in an HSA-eligible health plan in the non-group market.”
Effective April 1, 2022, high-deductible health plans can once again offer first-dollar coverage for telehealth and other remote services without making participants ineligible for healthsavingsaccount (“HSA”) contributions.
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 healthsavingsaccount (HSA) to improve their financial wellness and save money on a variety of mental health-related expenses.
Healthsavingsaccounts (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.
Savings If you have a pre-tax benefit account like a Flexible Spending Account , HealthSavingsAccount , or Commuter Benefit Account , you’re already ahead of the game. Each dollar going into a pre-tax benefit accountsaves you 30 to 40 cents per dollar.
Coverage can often be configured to be compatible with HDHPs using healthsavingsaccounts. Importance of your broker Reid said that the report’s findings illustrate the importance of employers working with brokers and consultants to purchase their employee benefits.
In fact, staying on top of your healthsavingsaccount (HSA) , flexible spending account (FSA) , or any other plan you signed up for throughout the year can pay off for you. For legal or tax advice, you should consult your own counsel. We’ve compiled some tips to help you if you participate in a WEX benefits plan.
provisions make some significant changes for retirement plans , but CAA 2023 also extends the telehealth plan safe harbor for high-deductible health plans (“HDHPs”) that were first introduced in the 2020 CARES Act. Not only do the CAA 2023’s “SECURE 2.0” The two-year extension continues the relief until January 1, 2025.
Accident and Health Benefits . HealthSavingsAccounts. Flexible Spending Accounts: funded by salary reduction. IRS guidelines restrict certain spending account benefits to maximum annual amounts. Call HealthConsultants Group at (800) 367-2482. Cafeteria Plan benefits often include.
HSAs (HealthSavingsAccounts) are an excellent tool for controlling healthcare costs and setting up money for the future. Remember that HSA rollovers are a smart way to simplify your financial life while maximizing the benefits of your healthcare account.
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 healthsavingsaccount (HSA) is a tax-advantage account that participants can pay for healthcare expenses, save for the future, and invest to build your savings.
It’s about what a healthsavingsaccount or a flexible spending account can do for them." For legal or tax advice, you should consult your own legal counsel, tax and investment advisers. “I think it’s really important to tie it back to things that are meaningful to [employees]….their
A great example of this is education at summertime around how to maximize your healthsavingsaccount (HSA) dollars for typical hot weather spending such as sunscreen and aloe vera! For legal or tax advice, you should consult your own counsel. The information in this blog post is for educational purposes only.
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