InterWest Insurance Services

FEBRUARY 20, 2024

With more than half of all private sector employees enrolled in high-deductible health plans , it’s important that employers have in place certain protocols to ensure that they are a success. HSAs are tax-advantaged accounts that allow enrollees to save up to pay qualified medical expenses.

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Deductible Deductions Out of Pocket Cost Health Savings Account 98

CorpStrat

DECEMBER 4, 2024

As the year winds down, employers have a crucial opportunity to fine-tune their employee benefits strategy. Pairing high-deductible health plans (HDHPs) with Health Savings Accounts (HSAs) or adding wellness programs can help employees offset costs while staying engaged in their health.

Employee Benefits 52

Employee Benefits Employment Disability Insurance Health Savings Account 52

Joe Markland

OCTOBER 11, 2020

Over the past 6 years I have published several articles on the need to personalize health insurance (and get the employer out of the way) by making an individual insurance policy tax deductible. The running narrative around employer-based insurance is that it is not broken. The employer in the middle is the problem.

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Health Insurance Insurance Health Savings Account Employment 130

WEX Inc.

MAY 22, 2019

When it comes to managing employee benefits, employers are frequently turning to high-deductible health plans to help control costs. But managing – and keeping up with – HSA requirements has its difficulties. But managing – and keeping up with – HSA requirements has its difficulties.

Health Savings Account 61

Health Savings Account Deductible Deductions Healthcare 61

WEX Inc.

NOVEMBER 27, 2024

Your health plan drives many of your decisions during open enrollment. One emerging trend is employers offering their employees health plan options. Does your employer offer options? The IRS sets deductible limits that determine what is an HDHP. PPOs are a common type of traditional health plan.

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Deductible Deductions Health Savings Account Flexible Spending Account 52

WEX Inc.

JULY 24, 2024

These communication tactics can be especially useful if you’re updating major health insurance options, like switching to a high-deductible health plan (HDHP) or adding a health savings account (HSA) and want to measure the outcomes of these changes. goal technique.

Health Savings Account 59

Health Savings Account Taxes Health Insurance Consulting 59

WEX Inc.

JULY 20, 2023

Deductible options The words “health”, “coverage”, “insurance”, and “deductible” were among the most frequent words to appear when participants were asked in our survey what was missing from their benefits. Specific responses included: “A lower deductible or copay options would be an improvement.”

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Deductible Deductions Flexible Spending Account Health Savings Account 75

Benefit Resource Inc.

MAY 15, 2024

One choice that sticks out in the ever-changing world of employee benefits for both employers and employees is a Health Savings Account (HSA). Understanding the HSA Advantage HSAs are tax-advantaged savings accounts specifically designed to help individuals save for medical expenses.

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Health Savings Account Healthcare Benefits Package Taxes 52

WEX Inc.

SEPTEMBER 18, 2024

When approaching open enrollment, do … Evaluate available health insurance plans. Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans. If your employer offered you a raise, you wouldn’t say no, right?

401(k) 52

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

Benefit Resource Inc.

DECEMBER 21, 2022

Health savings accounts (HSAs) allow employees to save and build wealth for future medical costs. HSAs are an incredibly advantageous tool for employers and employees alike, but only if they’re used the right way. Let’s look at how employers can help employees make the most of their HSAs. How To Use an HSA.

Health Savings Account 52

Health Savings Account Taxes Medical Health Insurance 52

PeopleKeep

OCTOBER 26, 2020

The percentage of workers covered under HDHP plans has increased from four percent of all employer-sponsored health insurance plans in 2006 to 31 percent in 2020. A high deductible health plan (HDHP) paired with a Health Savings Account (HSA) is growing in popularity because it allows employees to pay for medical expenses tax-free.

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Deductible Deductions Health Savings Account Health Insurance 75

WEX Inc.

DECEMBER 5, 2024

Have you recently changed employers? Fortunately, when you participate in a health savings account (HSA) through your employer, your HSA stays with you. There are plenty of myths about HSAs , but today let’s tackle what really happens to your HSA when you change employers. We’ve got you covered.)

Health Savings Account 52

Health Savings Account Taxes Deductible Deductions 52

Benefit Resource Inc.

FEBRUARY 23, 2023

Health Savings Accounts (HSAs) are tax-advantaged accounts that allow you to pay for medical expenses now and in the future. Whether you already have an HSA or are looking at this account for the first time, BRI is here to share why we love this account so much. HSAs Are Not Use-It-Or-Lose.

Health Savings Account 52

Health Savings Account 401(k) Retirement Plan Taxes 52

WEX Inc.

MAY 10, 2024

2025 HDHP minimum deductible and maximum out-of-pocket limits also are increasing. Health savings account (HSA) contribution limits are on the rise again in 2025. 2025 high-deductible health plan (HDHP) amounts and expense limits also increased.

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Health Savings Account Deductible Deductions Taxes 105

Benefit Resource Inc.

MARCH 31, 2023

As an employee with a Health Savings Account (HSA), knowing what you need to report during tax season is important. Contributions are the money you or your employer put into your HSA account. Your HSA contributions will be listed on your W-2 form from your employer. What are the tax benefits of an HSA?

Health Savings Account 52

Health Savings Account Taxes Healthcare Medical 52

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.

Health Savings Account 98

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

401(k) 52

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

WEX Inc.

MARCH 16, 2023

How much should I contribute to my health savings account (HSA) each month? If you’re covered by an HSA-eligible health plan (or high-deductible health plan ), the IRS allows you to put as much as $3,650 per year (in 2022) into your health savings account (HSA). What is an HSA?

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Health Savings Account Deductible Deductions Healthcare 98

Flimp Communications

OCTOBER 30, 2024

Health savings accounts (HSAs) are amazing tools for addressing the triple pillars of modern anxiety: money, health, and uncertainty about the future. Their tax advantages and investment potential can help employees reduce healthcare costs, save for retirement, and maximize tax refunds.

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Best Money Moves

DECEMBER 9, 2024

According to Mercers Survey on Health and Benefits Strategies for 2025, about two-thirds of large employers said that improving healthcare affordability is a priority for the next year. One method of support employers are providing will come in the form of affordable deductibles.

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WEX Inc.

MARCH 7, 2023

We wanted to share a few tips and reminders about the health savings account (HSA) information you’ll need for your tax return. Make sure your W-2 form shows HSA payroll contributions Provided by your employer, your W-2 shows the wages you earned and any taxes withheld. You'll need this form when filing your taxes.

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Taxes Health Savings Account Deductible Deductions 98

WEX Inc.

MAY 8, 2023

More employees are enrolling in a high-deductible health plan (HDHP) each year, including more than half of U.S. But there are still misunderstandings that exist among employees about the significant value of an HDHP (or HSA-eligible health plan) and how it compares to a traditional health plan.

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Deductible Deductions Health Savings Account Employee Enrollments 97

PeopleKeep

OCTOBER 4, 2021

As more employers move away from group health insurance plans, more married couples have begun maintaining separate individual health insurance coverage. If you and your spouse each have HSA-eligible insurance coverage, and you both plan on contributing to your HSAs, you must have separate accounts.

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Health Savings Account Health Insurance Deductible Deductions 98

PeopleKeep

MAY 24, 2021

With new tax-free vehicles emerging, including account-based health plans (ABHPs), small employers now have multiple ways to increase employees’ benefits. In this article, we’ll go over the differences between an HSA and a QSEHRA, how they can work together, and why small employers should consider offering both at the same time.

Health Savings Account 98

Health Savings Account Benefits Package Deductible Deductions 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

InterWest Insurance Services

MARCH 16, 2023

Large employers are unwavering in their plans to continue offering group health plans to their workers instead of funding individual reimbursement accounts that would allow them to shop for plans on government-run exchanges, according to new research.

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Health Insurance Employment Out of Pocket Cost Health Savings Account 98

PeopleKeep

FEBRUARY 9, 2022

A health savings account (HSA) is an employee-owned account designed to set aside pre-tax money to pay for qualified medical expenses such as deductibles, copayments, coinsurance, and other out-of-pocket expenses included in IRS publication 502.

Health Savings Account 98

Health Savings Account Deductible Deductions Healthcare 98

InterWest Insurance Services

JULY 13, 2023

Employers who were surveyed for a new report expected that group health insurance premiums would increase 5.4% In fact, 64% of large employers (with 500 or more workers) plan to enhance their health insurance and well-being benefits to stay competitive for talent and to keep their staff happy, Mercer found. copay plan).

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Employment Out of Pocket Cost Health Insurance Health Savings Account 98

WEX Inc.

MAY 17, 2023

2024 HDHP minimum deductible and maximum out-of-pocket limits also are increasing. Health savings account (HSA) contribution limits are on the rise again in 2024. 2024 high-deductible health plan (HDHP) amounts and expense limits also increased.

Health Savings Account 98

Health Savings Account Deductible Deductions Taxes 98

WEX Inc.

JANUARY 9, 2025

Open enrollment is an important time for HR professionals and employers, since its the moment employees make decisions that impact their health, finances, and overall wellness for the coming year. Common topics include: Clarification of coverage details Questions about deductibles, copays, or reimbursement processes.

Employee Benefits 52

Employee Benefits Health Savings Account Taxes Education 52

InterWest Insurance Services

SEPTEMBER 9, 2024

As they wrestle with providing attractive but affordable health care benefits for employees, employers are trying a variety of strategies. A recent report from insurance brokerage Gallagher shows businesses are balancing workers’ physical and emotional health against ever-rising costs. Eligibility requirements.

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Family and Medical Leave Act Pharmaceutical Employment Health Savings Account 93

InterWest Insurance Services

MAY 16, 2024

After enrollment in high-deductible health plans soared during the last decade, 2022 marked the first year that enrollment in these plans fell among American workers since 2013, according to a new report by ValuePenguin. ” And 10% of employers with 500 or more workers offered only these plans, compared to 13% in 2018.

401(k) 98

401(k) Deductible Deductions Health Savings Account 98

Flimp Communications

FEBRUARY 25, 2025

People count on their refunds to pay down debt, boost their savings, and fund major expenditures like home improvement or a long-overdue family vacation. 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.

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Taxes Deductible Deductions Flexible Spending Account 52

InterWest Insurance Services

JUNE 20, 2024

The IRS has announced significantly higher health savings account contribution limits for 2025, with the amount increasing 3.6% The IRS updates this amount annually, along with minimum deductibles as well as the out-of-pocket maximums for high-deductible health plans. for individual HSA plans.

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Deductible Deductions Health Savings Account Medical 97

InterWest Insurance Services

MARCH 7, 2024

If you have staff with health savings accounts, they still have until April 15 to make additional contributions to their accounts if they want to reduce their tax bills for last year. Under IRS rules, for 2023 employers and employees can contribute a combined $3,850 for single employees and $7,750 for families.

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401(k) Health Savings Account Pharmaceutical Deductible 98

WEX Inc.

JUNE 13, 2024

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. Employers can also contribute to their employees’ HSAs. Employers can also contribute to their employees’ HSAs.

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401(k) Retirement Plan Health Savings Account Deductible 96

Benefit Resource Inc.

JUNE 20, 2019

Not all payroll deductions are created equal. Some people (although not many) may engage in a heated debate on the value of pre-tax deductions vs. post-tax deductions. Colleagues (even in our own organization) have asked “Why do we need post-tax deductions?” What is a pre-tax deduction?

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