HR Digest

MARCH 28, 2023

It allows employees to save a portion of their pre-tax income for retirement. Here’s how it works: When an employee enrolls in a 401(k) plan, they choose a percentage of their salary to contribute to the plan, up to a certain limit set by the Internal Revenue Service (IRS). How does 401(k) work?

401(k) 64

401(k) roth 401(k) Retirement Plan IT 64

HR Professionals Magazine

APRIL 4, 2022

It is easy to assume that establishing an API between platforms means seamless, real-time connectivity that will create efficiency in administering your employee benefits and payroll processing while eliminating duplicative data entry challenges. Which data elements are exchanged and in which direction do they flow?

Payroll 52

Payroll Payroll System Deductible Deductions 52

Business Management Daily

SEPTEMBER 27, 2019

An ounce of prevention may be worth a pound of cure, but up until this point, high-deductible health plans have been boxed in regarding tax-free reimbursements for most preventive care services or items. Reason: With certain exceptions, HDHPs can’t start reimbursing employees until they meet those high deductibles.

Health Savings Account 40

Health Savings Account Deductible Deductions Flexible Spending Account 40

HR Professionals Magazine

MAY 4, 2023

By Kisha Moliere It is common to think of benefits administration technology (ben admin) platforms as a tool that only facilitates employee benefits enrollment and transfers benefits eligibility data between carrier and payroll systems. Be mindful that not all decision support tools are created equal.

Technology 52

Technology Utilities Payroll Deductible 52

Higginbotham

JULY 12, 2022

Employees may face uncovered costs in numerous ways: They have to pay a share of the premium for insurance. They have to pay a deductible. HSAs: These accounts are owned by the employee; so the employee can keep the account when switching jobs or retiring. Manage enrollment. HRAs are owned by the employer.

Out of Pocket Cost 52

Out of Pocket Cost Flexible Spending Account Medical Deductible 52

Winston Benefits

FEBRUARY 21, 2018

Your employees make a lot of decisions during their work day, but one of the most important decisions they’ll make comes once a year: what to do about their employee benefits. That can lead to distraction, frustration and disillusionment with their benefits — and can spill over into their job as well.

Life Insurance 45

Life Insurance Employee Enrollments Deductible Deductions 45

Winston Benefits

MARCH 8, 2018

As you think about the changes you want to make to your employee benefits offerings, now is the time to talk benefits technology too. The first part of the year is a good time to audit what’s working and what’s not, and to go over any feedback you got from employees about the open enrollment process.

Technology 45

Technology Health Savings Account Voluntary Benefits Employee Enrollments 45

Winston Benefits

MAY 15, 2018

Benefits are a crucial part of your company’s compensation package, and could be the reason employees select you over a competitor. However, the benefits enrollment process can be tedious for HR, and both tedious and confusing for employees. Consider enrollment windows as well. Customization.

Technology 45

Technology Employee Enrollments Deductible Deductions 45

Corporate Synergies

AUGUST 6, 2018

Health savings accounts can be a good deal for employees. 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% But do they really understand HSA value? in 2011 to 39.3%

401(k) 40

401(k) Health Savings Account Retirement Plan Deductible 40

Business Management Daily

NOVEMBER 30, 2021

They are a great add-on to a business’ employee benefits package and help employees pay for the expenses that they need to stay healthy and care for their loved ones. Reimbursements from a healthcare FSA can only be paid to reimburse the employee for qualified medical expenses incurred during the period of coverage.

Retail 52

Retail Healthcare Medical Flexible Spending Account 52

PeopleStrategy

NOVEMBER 12, 2019

Here are a few areas you want to be sure to include on your checklist: Addressing open enrollment and benefit plan participation. Assessing open enrollment and employees’ overall involvement in benefit offerings should be a big part of any year-end HR checklist.

Overtime 56

Overtime Payroll Employee Enrollments Deductible 56

HR Digest

APRIL 2, 2024

Health-related expenses are regulated by the Affordable Care Act (ACA), and they need to be integrated into a high-deductible health plan (HDHP) to be considered valid. Only employees enrolled in the HDHP can benefit from the HSA, making it a more complicated program to follow.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Medical Flexible Spending 52

Benefit Resource Inc.

DECEMBER 10, 2021

By working to address these things through automation and process improvements, you’ll help employees reduce their workloads – thus, decreasing chance of burnout and turnover. Compensation & Benefits Administration. One of the biggest time sucks for an HR department is payroll and employee benefits. and so much more.

Payroll 40

Payroll Employee Enrollments Deductible Deductions 40