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. If you rarely go to the doctor or would like to enroll in a health savings account (HSA) , an HSA-eligible health plan may be right for you! Open enrollment comes just once a year.

401(k) 52

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

Money Talk

JUNE 29, 2022

In it, I urged a review of tax deductions/credits, tax withholding, budgeting/cash flow, flexible spending accounts, financial goal progress, and investment portfolio status. This is a great time to increase emergency savings or automatic deposits into an employer retirement savings plan (e.g.,

401(k) 189

401(k) Out of Pocket Cost Finance Flexible Spending Account 189

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. Not only are HSA contributions tax deductible, but investment growth and funds used for qualified medical expenses are also protected.

Deductions 52

Deductions Deductible Taxes Flexible Spending Account 52

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. Your employer owns your FSA.

401(k) 98

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

InterWest Insurance Services

MARCH 22, 2022

Employers fund these flexible benefit plans with funds that are deducted from their employees’ salaries on a pre-tax basis. Flexible spending account. Section 125 plans offer a number of tax-saving benefits for employers. Remember: Flexible benefit plans are not without their drawbacks.

Flexible Spending Account 96

Flexible Spending Account 401(k) Flexible Spending Deductions 96

Flimp Communications

FEBRUARY 25, 2025

For employers, the period following tax season is one of the best times to communicate with employees about improving their financial health, especially as it relates to taxes. Employees can deduct up to $300 per month in transit account contributions and $300 per month in parking account contributions. Commuter benefits.

Taxes 52

Taxes Deductions Deductible Flexible Spending Account 52

HR Lineup

JULY 10, 2023

The platform automates the entire payroll process, from calculating earnings and deductions to generating pay stubs and tax forms. It simplifies the enrollment and management of employee benefits programs, such as health insurance, retirement plans, and flexible spending accounts.

Flexible Spending Account 130

Flexible Spending Account Payroll Flexible Spending Retirement Plan 130

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.

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.

Flexible Spending Account 98

Flexible Spending Account Deductions Deductible Health 98

Benefit Resource Inc.

NOVEMBER 8, 2023

If you’re wondering what the difference is between a Medical Flexible Spending Account (Medical FSA) and a Dependent Care Flexible Spending Account (DC FSA), you are not alone. Participants often do not understand that separate elections must be made for Medical and Dependent Care Accounts.

Medical 98

Medical Flexible Spending Account Flexible Spending Deductions 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)? They are employer-owned accounts. However, the IRS does allow employers the option to offer an FSA carryover option to their employees.

Medical 98

Medical Flexible Spending Account Flexible Spending Taxes 98

InterWest Insurance Services

NOVEMBER 25, 2022

The IRS has released the 2023 maximum contribution amounts for health savings accounts and flexible spending accounts. The changes, which the IRS releases in November each year, will affect contribution limits for HSAs, FSAs and 401(k) and other retirement accounts. 7,750 for family coverage (up $450).

401(k) 98

401(k) Deductions Deductible Flexible Spending Account 98

InterWest Insurance Services

SEPTEMBER 23, 2024

One of the most underused employee benefits available is the “cafeteria” plan ― which can benefit both the employer and the employee. The benefits are free from federal and state income taxes, employees’ taxable income is reduced and that means that employers don’t have to pay FICA on those dollars.

Flexible Spending Account 94

Flexible Spending Account Benefits Package Deductions Deductible 94

WEX Inc.

MAY 2, 2024

Health reimbursement arrangements (HRAs) and health savings accounts (HSAs) are great tools for you and your employees to save money, and for your employees to prepare for potential medical expenses. For employers, HRAs or HSAs come with perks, including tax savings and increased employee retention. Investment potential.

Health Savings Account 98

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

InterWest Insurance Services

JULY 4, 2024

workers choosing high-deductible health plans has leveled off during the last two years, uptake has been growing rapidly among one segment of the working population: Gen Z employees. The report notes 84% of employers offer both HDHPs and traditional health plans to ensure that they can met the needs of a multi-generational workforce.

Voluntary Benefits 97

Voluntary Benefits Flexible Spending Account Deductions Deductible 97

Business Management Daily

SEPTEMBER 22, 2021

Some employers start as early as September. Most employees elect coverage through their employer, but some may be eligible for marketplace coverage as well. Most employers have an open enrollment period of at least 2 to 4 weeks. Eligibility for HSAs is generally limited to people enrolled in High Deductible Health Plan (HDHP).

Employment 90

Employment Deductions Deductible Benefit Providers 90

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

Qandle

JUNE 20, 2023

This includes employee details such as names, addresses, social security numbers, tax withholding information, bank account details for direct deposit, and any changes in employment status or compensation. Payroll Reconciliation: Before processing payroll, perform a thorough reconciliation of all payroll-related accounts.

Payroll 98

Payroll Flexible Spending Account Overtime Payroll Software 98

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.

Flexible Spending Account 95

Flexible Spending Account Health Savings Account Flexible Spending Taxes 95

InterWest Insurance Services

MARCH 4, 2022

As rising health insurance premiums and out-of-pocket costs for health care are burdening workers, more employers are looking for ways to help their staff put aside money for those expenses. While health savings accounts have grown in popularity, you can only offer them to employees who are enrolled in high-deductible health plans.

Medical 98

Medical Health Insurance Out of Pocket Cost Deductions 98

Business Management Daily

NOVEMBER 15, 2021

Employers are constantly looking for ways to remain competitive in their benefits offerings, and an FSA is a great add-on to your benefits package. Flexible Spending Accounts allow employees to set aside pre-tax dollars from their paycheck to use for medical or dependent care expenses. Types of FSA Plans.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Medical Healthcare 98

PeopleKeep

APRIL 30, 2020

There are a few different types of medical reimbursement plans including: Health Reimbursement Arrangements (HRAs), Healthcare Reimbursement Plans (HRPs), Health Savings Accounts (HSAs), and Health Flexible Spending Accounts (FSAs). An employer usually offers an HSA-qualified high-deductible health plan and an HSA.

Medical 72

Medical Flexible Spending Account Health Savings Account Health Insurance 72

InterWest Insurance Services

DECEMBER 9, 2021

HDHP telehealth services — The CARES Act, signed into law in 2020 after the pandemic started, temporarily allowed high-deductible health plans to pay for telehealth services before an enrollee had met their deductible. 1, 2022, HDHPs must charge enrollees for telehealth services if they have not yet met their deductible. .

Health Insurance 98

Health Insurance Insurance Insurance Carriers Deductions 98

InterWest Insurance Services

JULY 20, 2022

Keep in mind that the ritual of choosing a benefits package is a brand-new experience for people who are new to the workforce, and you should prepare to educate new employees on how to effectively choose and use their new coverages, as well as all the details like premiums, deductibles and out-of-pocket expenses. Financial wellness.

Education 98

Education 401(k) Deductions Deductible 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. If you rarely go to the doctor or would like to enroll in a health savings account (HSA) , an HSA-eligible health plan may be right for you! Open enrollment comes just once a year.

401(k) 98

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

Genesis HR Solutions

SEPTEMBER 22, 2020

At the end of this article, we’ll explain how a professional employer organization (PEO) can help you select, negotiate, and administer best possible benefits for your company. There are four major types of employee benefits many employers offer: medical insurance, life insurance, disability insurance, and retirement plans.

401(k) 98

401(k) Employee Benefits roth 401(k) Disability Insurance 98

Business Management Daily

DECEMBER 1, 2019

Hourly-paid nonexempts are impacted only to the extent of withholding and deductions. Lastly, check employment contracts and engagement letters to determine whether employees were promised a set annual salary. Employees’ benefits deductions and allowances (e.g., Do nothing. Digging deeper. Accruals for vacation and sick pay.

Payroll 83

Payroll 401(k) Deductions Deductible 83

Best Money Moves

JULY 8, 2020

HR trends forecast the most desired employee benefits for 2021 like financial wellness programs and flexible work arrangements. It’s time for employers to start planning their employee benefits packages for 2021. But what can employers do to help? 4 Paid Time Off. 4 Paid Time Off. 5 Mental Health Benefits .

Employee Benefits 111

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

Business Management Daily

SEPTEMBER 9, 2021

Almost all health plans offer add-on accounts — health flexible spending accounts, health savings accounts, or health reimbursement accounts. You need to know how these accounts differ so you can communicate about them to employees. Health flexible spending accounts.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Employment Flexible Spending 52

Genesis HR Solutions

JANUARY 24, 2023

Handbooks help manage your employees and keep your business compliant with the ever-growing list of employment rules and regulations. Notice and disclaimer / Acknowledgement of Receipt A notice and disclaimer indicates the handbook is not a contract of employment and that the handbook is subject to change.

Family and Medical Leave Act 98

Family and Medical Leave Act Overtime Parental Leave Health and Welfare 98

Benefit Resource Inc.

JANUARY 3, 2023

With a Flexible Spending Account (FSA), you can set aside up to $3,050 in pre-tax dollars per calendar year to pay for eligible medical expenses like doctor visits, hospitalizations, and prescription medications. HRAs can be designed by an employer to fit a variety of needs and program designs. How Employers Can Help.

Utilities 98

Utilities Taxes Flexible Spending Account Flexible Spending 98

Insperity

MAY 13, 2015

First and second time group health insurance buyers usually miss the opportunity to buy a health savings account (HSA)-qualified high-deductible health plan (HDHP). Health Savings Accounts. HSAs are individually-owned, tax-advantaged accounts that can be used to pay for current or future health care expenses.

Health Insurance 84

Health Insurance Insurance Out of Pocket Cost Health Savings Account 84

Benefit Resource Inc.

APRIL 20, 2023

While dusting, vacuuming, and packing away winter clothes may be on the top of your spring cleaning list, have you considered reviewing your eligible expenses and utilizing your Flexible Spending Account (FSA)? While doing your spring cleaning, don’t forget to look at your FSA.

Out of Pocket Cost 83

Out of Pocket Cost Flexible Spending Account Flexible Spending Health Savings Account 83

Money Talk

AUGUST 5, 2021

Also, cash-back and low-interest credit cards, pre-tax employer flexible spending accounts, negotiating (a.k.a.,

Flexible Spending Account 100

Flexible Spending Account Banking Medical Flexible Spending 100

Benefit Resource Inc.

MARCH 16, 2021

The limit for dependent care flexible spending accounts has been stuck at $5,000 since the account’s inception in the 1980s. Assuming employers adopt the increased limit for dependent care, employees can take advantage of the new provision by logging into their personal accounts and updating their elections.

Flexible Spending Account 76

Flexible Spending Account Benefit Providers Flexible Spending Deductions 76

Insperity

OCTOBER 31, 2017

From employer-sponsored health insurance to retirement savings plans, an attractive benefits package can help you hire the best employees and ensure you retain them for many years to come. This can go a long way toward positioning your company to excel in the marketplace and securing your reputation as a stellar employer.

Out of Pocket Cost 84

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

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. FSA Employer Contribution Limits for 2023.

401(k) 85

401(k) Retirement Plan Health Savings Account Deductions 85