Higginbotham

SEPTEMBER 16, 2024

While not ideal for everyone, a high-deductible health plan can be very appealing to some workers, especially when it’s paired with a health savings account. Offering a high-deductible health plan as part of an employee benefits package, therefore, may be a strategic option for your organization.

Deductions 52

Deductions Deductible Health Savings Account Health Insurance 52

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. Combination FSA, which is a limited FSA that converts into a medical FSA once the IRS deductible is met.

Flexible Spending Account 98

Flexible Spending Account Deductions Deductible Health 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)? The information in this blog post is for educational purposes only. If you’re a first-time medical FSA participant, you may not be familiar with FSA definitions and rules.

Medical 98

Medical Flexible Spending Account Flexible Spending Taxes 98

WEX Inc.

OCTOBER 9, 2024

Health savings accounts (HSAs) and flexible spending accounts (FSAs) are often misunderstood, despite their significant financial advantages. Contributions are tied to enrollment in a high-deductible health plan (HDHP). The information in this blog post is for educational purposes only. It is not legal or tax advice.

Flexible Spending Account 95

Flexible Spending Account Health Savings Account Flexible Spending Taxes 95

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.

Deductions 98

Deductions Deductible Healthcare Flexible Spending Account 98

WEX Inc.

SEPTEMBER 14, 2023

Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans. An informative blog , educational videos and savings and goal calculators make it easy for you to determine your plan elections. Open enrollment comes just once a year.

401(k) 98

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

Insperity

OCTOBER 31, 2017

It’s likely a result of ineffective communication and education. Leverage new-employee orientation and the hiring process to educate new team members about benefits. Be sure they have the tools they need to make educated decisions. For instance, what costs are the employees responsible for (partial premiums, deductibles, etc.)?

Out of Pocket Cost 84

Out of Pocket Cost Disability Insurance Health Insurance Flexible Spending Account 84

Benefit Resource Inc.

OCTOBER 18, 2018

If you have a Flexible Spending Account (FSA), you know that every year during Open Enrollment (OE), you choose how much to put aside in the account, otherwise known as your election. One way is to use the free online calculator from the Benefit Resource Education site. Annual deductible. Insurance Deductible: $2,000.

Deductions 74

Deductions Deductible Health Flexible Spending Account 74

Money Talk

AUGUST 5, 2021

Also, cash-back and low-interest credit cards, pre-tax employer flexible spending accounts, negotiating (a.k.a., Each summer, AARP Bulletin publishes a 99 Great Ways to Save article with money-saving ideas.

Flexible Spending Account 100

Flexible Spending Account Banking Medical Flexible Spending 100

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. But there are high-deductible PPOs, as well.

Deductions 52

Deductions Deductible Health Savings Account Flexible Spending Account 52

Best Money Moves

JULY 8, 2020

Employees can talk to trained professional financial counselors and educate themselves about everything from investing to co-signing loans to buying their first homes with access to a library of over 700 articles, videos and calculators. 4 Paid Time Off. 9 Pet-Friendly Employee Benefits.

Employee Benefits 111

Employee Benefits Out of Pocket Cost Flexible Spending Account Health Insurance 111

Benefit Resource Inc.

JANUARY 16, 2024

Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are two of the most effective instruments for optimizing health savings and financial flexibility for both employers and employees among the different components of a comprehensive benefits strategy.

Benefits Package 52

Benefits Package Flexible Spending Account Health Savings Account Flexible Spending 52

Benefit Resource Inc.

JUNE 29, 2021

Now that you’ve explained (again) how insurance works, you get to begin the real work of teaching employees the difference between Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs). Frankly, most employers don’t have the time or capacity to provide a full-blown education to employees.

401(k) 78

401(k) Deductions Deductible Flexible Spending Account 78

Griffin Benefits

NOVEMBER 1, 2022

Together, these combined announcements by the IRS detail 2023 adjusted limits to the amounts employees can tuck away pretax into Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), transportation benefits, and retirement plans such as 401(k)s. Educating Employees On The Changes.

401(k) 85

401(k) Retirement Plan Health Savings Account Deductions 85

Insperity

FEBRUARY 13, 2018

This alone can help ease some of your employees’ money concerns because they will have the opportunity to get things like medical insurance, disability, flexible spending accounts, retirement plans and more. Oftentimes, people will pay more monthly for car insurance so they can get a low deductible, usually $500.

401(k) 75

401(k) Disability Insurance Flexible Spending Account Deductions 75

Benefit Resource Inc.

MARCH 28, 2024

From flexible spending accounts (FSAs) to health savings accounts (HSAs) and commuter benefits, these options offer significant advantages if managed wisely. Know Your Pre-Tax Benefit Options Flexible spending accounts (FSAs): An FSA allows you to set aside pre-tax dollars for eligible healthcare expenses.

Flexible Spending Account 52

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

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. Combination FSA: A limited FSA that converts into a medical FSA once the IRS deductible is met.

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account Taxes 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.

Deductions 52

Deductions Deductible Flexible Spending Account Healthcare 52

Insperity

APRIL 16, 2015

This includes medical, dental and vision coverage, a health care flexible spending account , a retirement plan, life insurance and personal accident insurance, short-term and long-term disability insurance, adoption assistance, commuter benefits and educational assistance. HR administration.

Payroll 98

Payroll Flexible Spending Account Disability Insurance Insurance 98

WEX Inc.

SEPTEMBER 12, 2023

In the second blog post in our three-part series to educate first-time participants, we walk through a few factors you should consider when choosing among employee benefits accounts for the first time. To take advantage of an HSA, you need to participate in an HSA-eligible health plan (or high-deductible health plan).

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Life Insurance 52

Flimp Communications

OCTOBER 30, 2024

About half of American employers offer HSAs — coupled with high-deductible health plans (HDHPs) — but, according to one study , 69% of employees don’t understand their benefits or uses. Related: An Email Template to Educate Your Employees on HDHPs and HSAs. Read it here → What Do Your Employees Need to Know About HSAs?

Deductions 52

Deductions Deductible Taxes Flexible Spending Account 52

WEX Inc.

SEPTEMBER 18, 2024

Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans. An informative blog , educational videos and savings and goal calculators make it easy for you to determine your plan elections. Open enrollment comes just once a year.

401(k) 52

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

WEX Inc.

OCTOBER 15, 2024

While HSAs combine several of the best features of 401(k)s and flexible spending accounts (FSAs), they are often overlooked and underutilized. WEX is excited to use HSA Day to educate employers and employees about the value of HSAs.” Employers’ contributions to employees’ HSAs are tax deductible.

401(k) 52

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

Higginbotham

NOVEMBER 28, 2022

Unlike Flexible Spending Accounts (FSAs), which are owned by employers, individuals own HSAs. To contribute to an HSA, you must enroll in a high-deductible health plan. In 2022, Healthcare.gov says a high-deductible plan has a deductible of at least $1,400 for individual coverage and $2,800 for family coverage.

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductions Deductible 52

Higginbotham

JUNE 14, 2022

Flexible Spending Accounts (FSAs) have emerged as one solution. Flexible Spending Account vs. Health Savings Account. Only for Use with High Deductible Health Plans. Another difference is that HSAs are designed specifically for people in high-deductible health plans. Flexible Health Spending Account Rules.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Deductions Deductible 52

WEX Inc.

JANUARY 4, 2023

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 ). And, if you are no longer enrolled in an HSA-eligible health plan, you can’t contribute to your HSA, but you can still spend your HSA funds at any time.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

WEX Inc.

APRIL 12, 2023

First, employees need to be covered by an HSA-eligible health plan, otherwise known as a high-deductible health plan (HDHP). They can’t be covered by any other health plan that would disqualify them from an HSA, such as a spouse’s plan or a medical flexible spending account (FSA). It is not legal or tax advice.

Health Savings Account 52

Health Savings Account Deductions Deductible Flexible Spending Account 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. Enhanced employee satisfaction and well-being.

Employee Benefits 40

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

Higginbotham

JULY 12, 2022

They have to pay a deductible. HRAs may sound like Health Savings Accounts (HSAs) or Flexible Spending Accounts (FSAs), but there are key differences. HSAs are designed to work with high deductible health plans, and both the employer and the employee may contribute up to the annual contribution limit. Funds do not expire.

Out of Pocket Cost 52

Out of Pocket Cost Flexible Spending Account Medical Deductions 52

Insperity

DECEMBER 13, 2018

Start by educating yourself on the basics. HSA is the acronym for health savings account; FSA is the acronym for flexible spending account. An easy, basic way to distinguish what each account is intended for is by focusing on what the letter “S” represents in each: savings and spending. Any negatives to offering either?

401(k) 55

401(k) Deductions Deductible Taxes 55

Griffin Benefits

NOVEMBER 11, 2021

Together, these combined announcements by the IRS detail 2022 adjusted limits to the amounts employees can tuck away pretax into Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), transportation benefits, and retirement plans such as 401(k)s. Educating Employees On The Changes.

401(k) 56

401(k) Retirement Plan Health Savings Account Deductions 56

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. Bureau of Labor Statistics (BLS) , private-sector employers spend an average of $2.86 According to the U.S.

Family and Medical Leave Act 59

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

Corporate Synergies

AUGUST 6, 2018

Educate employees on how to use these funds for current and future healthcare expenses. High deductible health plans (HDHPs) are on the rise as a growing number of employers turn to consumer-directed health plans to try to curb costs—the portion of employees enrolled in HDHPs rose from 26.3% HSA value isn’t always obvious. As Seen In.

401(k) 40

401(k) Health Savings Account Retirement Plan Deductions 40

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

Higginbotham

OCTOBER 14, 2022

Different health plan types come with both advantages and disadvantages, including differences in cost, risk and employee involvement/education. For example, employers can offer a flexible spending account, heath reimbursement arrangement, or health savings account along with a high-deductible health plan to help with out-of-pocket costs.

Employee Benefits 52

Employee Benefits Family and Medical Leave Act Disability Insurance Paid Sick Leave 52

Genesis HR Solutions

SEPTEMBER 21, 2021

Keep in mind there is little-to-no support for education for this option, or for gaining insights into how the health insurance plans will change from year to year. GenesisHR can help your small business get HRA plan documents; administer your ICHRA; take deductions through payroll, and more. You can learn more here.

Health Insurance 52

Health Insurance Insurance 401(k) Insurance Carriers 52

Benefit Resource Inc.

JULY 2, 2019

I received an education on the different definitions of a dependent. For insurance and flexible spending account purposes, a dependent can be an adult child under the age of 26. Given that we have a high deductible plan, we’ve had to pay for each session out of pocket. What is a dependent? Who knew it mattered?

Flexible Spending Account 40

Flexible Spending Account Taxes Health Savings Account Insurance 40