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Top 10 Employee Benefits for 2021

Best Money Moves

HR trends forecast the most desired employee benefits for 2021 like financial wellness programs and flexible work arrangements. The coronavirus pandemic has presented significant challenges for employers and highlighted the unprecedented levels of stress employees face in their everyday lives. But what can employers do to help?

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3 ideas from psychology to communicate about HSAs

Benefit Resource Inc.

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). If you are presented with information that doesn’t have an existing bucket, it will take longer to store.

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Finding the sweet spot for your FSA election

Benefit Resource Inc.

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. Annual deductible. Option 2 — Use your deductible and past experience as a benchmark. Do you meet your deductible every year?

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What We’ve Learned About Pre-Tax Benefits This Year

Benefit Resource Inc.

DIFFERENT WAYS TO SPEND DEPENDENT CARE FUNDS. Dependent Care often presents a unique challenge for busy families. Choosing between a Health Savings Account (HSA) and a Flexible Spending Account (FSA) can be overwhelming. To learn more about FSAs and HSAs, view our account comparison chart.

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Tips for the Early Plan Year

Benefit Resource Inc.

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.

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Eenie meenie miney mo – Which account should I choose?

Benefit Resource Inc.

As kids, there were fun games that helped us make choices… In benefits, we are often presented with a 50 page document and told “Here you go. ” Too bad making your pre-tax benefit account decisions is not as easy as pointing and saying “Eenie meenie miney mo – Which account should I choose? Medical FSA.

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Don’t enroll in COBRA until you understand these 5 questions

Benefit Resource Inc.

In this case, COBRA can be the path of least resistance and presents an easy gap coverage option. In this scenario, you may want to spend the extra time to research alternative coverage options through an exchange or directly through an insurance carrier. What access to doctors exist with alternative plans?