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

WEX Inc.

SEPTEMBER 19, 2024

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.

Health 98

Health Flexible Spending Account Health Savings Account Flexible Spending 98

WEX Inc.

MAY 10, 2024

Health savings account (HSA) contribution limits are on the rise again in 2025. Any funds contributed beyond what the IRS allows are included on a participant’s W-2 as taxable income , plus be subject to a 6% excise tax. It is not legal or tax advice.

Health Savings Account 105

Health Savings Account Deductions Deductible Taxes 105

WEX Inc.

AUGUST 7, 2024

If you are, then you have a health savings account (HSA). And you’re investing to grow your funds so they increase at a much higher rate than they would in an HSA’s cash account. But even the most savvy investors can get more out of their accounts. It is not investment, legal or tax advice.

401(k) 93

401(k) Health Savings Account Healthcare Retirement Plan 93

WEX Inc.

JULY 9, 2024

Does your health savings account (HSA) have enough funds to carry you through the second half of the year? Unexpected: While these costs can be difficult to predict, always account for an unplanned trip to the emergency room or urgent medical procedure. It is not legal or tax advice. Perform your HSA midyear check!

Health Savings Account 98

Health Savings Account Healthcare Medical Taxes 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? 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 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 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.

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.

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. It is not legal or tax advice. In 2023, HSA investment assets grew 37% year-over-year to nearly $46 billion. Get our free guide.

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401(k) Health Savings Account Deductions Deductible 52

WEX Inc.

APRIL 25, 2024

This can make HDHPs a great option for saving on monthly payments. Health savings accounts Another great perk of HDHPs is they can be paired with health savings accounts (HSAs). An HSA is a tax-advantaged savings account that allows you to save money specifically for medical expenses.

Health Savings Account 52

Health Savings Account Deductions Deductible Out of Pocket Cost 52

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 Deductions 96

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. With a health savings account (HSA) , all funds carry over from year to year. It is not legal or tax advice.

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Flexible Spending Account Flexible Spending Health Savings Account IT 105

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. It is not legal, financial, or tax advice. OTC medicines. Allergy testing.

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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

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. HSA contributions made through payroll are not subject to the 7.65% FICA tax. It is not legal, financial, or tax advice.

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Retirement Plan 401(k) Health Savings Account Taxes 98

WEX Inc.

MAY 17, 2023

Health savings account (HSA) contribution limits are on the rise again in 2024. It is not legal or tax advice. 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.

Health Savings Account 98

Health Savings Account Deductions Deductible 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? It is not legal or tax advice. For legal or tax advice, you should consult your own counsel.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

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.

Health 98

Health Flexible Spending Account Health Savings Account Flexible Spending 98

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.

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Health Savings Account Taxes Health Insurance Consulting 59

HR Lineup

OCTOBER 21, 2024

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 health savings programs.

401(k) 66

401(k) Employee Benefits Retirement Plan Health Savings Account 66

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

Medical 98

Medical Flexible Spending Account Health Savings Account Flexible Spending 98

WEX Inc.

MAY 8, 2023

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 health savings account (HSA) , but only if they’re also enrolled in an HSA-eligible HDHP.

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Deductions Deductible Health Savings Account Employee Enrollments 97

Benefit Resource Inc.

SEPTEMBER 7, 2023

HSAs (Health Savings Accounts) are an excellent tool for controlling healthcare costs and setting up money for the future. They are a beneficial addition to your employee benefits because of the flexibility and tax advantages they provide. Fewer accounts mean fewer forms and less paperwork to deal with.

Health Savings Account 101

Health Savings Account Healthcare Taxes Finance 101

WEX Inc.

OCTOBER 12, 2023

Health savings accounts (HSAs) HSA participants save money by contributing funds to their HSA pre-tax. Ensure these resources highlight the triple-tax savings, long-term investment potential, and portability between jobs that HSAs offer. It is not legal or tax advice. Download now!

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Education Health Savings Account Taxes Consulting 52

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. It is not legal or tax advice.

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Health Savings Account Healthcare Education Taxes 64

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. Once you turn 65, your HSA funds can be used for any expense, not just healthcare, while still retaining the tax advantages.

Health Savings Account 52

Health Savings Account Healthcare Medical Taxes 52

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.

Health Savings Account 98

Health Savings Account Medical Retirement Plan Taxes 98

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

WEX Inc.

MAY 24, 2023

It’s about what a health savings account or a flexible spending account can do for them." It is not legal or tax advice. 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.

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Flexible Spending Account Health Savings Account Benefit Providers Flexible Spending 97

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.

Health Savings Account 52

Health Savings Account Flexible Spending Account Flexible Spending Taxes 52

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.

Health Savings Account 52

Health Savings Account Medical Retirement Plan Taxes 52

Proskauer's Employee Benefits & Executive Compensa

MARCH 22, 2022

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 health savings account (“HSA”) contributions.

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Deductions Deductible Health Savings Account Taxes 97

Proskauer's Employee Benefits & Executive Compensa

JANUARY 31, 2023

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.

Deductions 98

Deductions Deductible Health Savings Account Retirement Plan 98

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! It is not legal or tax advice. For legal or tax advice, you should consult your own counsel.

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Voluntary Benefits Health Savings Account PTO Retirement Plan 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.

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Flexible Spending Account Deductions Deductible Health 98

WEX Inc.

JULY 20, 2023

Smaller employers may face challenges in providing these options, although participants have said they are interested in these health plan choices. Participants are eligible for an HSA only if they’re enrolled in an HSA-eligible health plan, so the choice between these two accounts is related to providing choice in health plans.

Deductions 75

Deductions Deductible Flexible Spending Account Health Savings Account 75

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. It is not legal or tax advice.

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Flexible Spending Account Flexible Spending Health Savings Account Taxes 52

Flimp Communications

OCTOBER 25, 2024

Am I saving enough for a comfortable retirement?” 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)?

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