Money Talk

OCTOBER 11, 2023

Tax Write-Off for Self-Employment Tax - On line 15 of Schedule 2 (for a 1040 form), self-employed workers can write off the deductible portion of their self-employment tax (calculated on Schedule SE), which will lower adjusted gross income (AGI), a trigger for many other taxes.

Employment 215

Employment Deductible Deductions Taxes 215

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. .

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Health Insurance Insurance Insurance Carriers Deductible 98

PeopleKeep

FEBRUARY 16, 2022

There are many factors to consider when it comes to selecting health insurance. One option that appeals to many employers is the zero-deductible health plan because it means the insurance company will start accepting claims from the very beginning.

Deductible 98

Deductible Deductions Out of Pocket Cost Health Insurance 98

InterWest Insurance Services

APRIL 27, 2023

A new report has found that small businesses that purchase their group health insurance online or through payroll vendors saw the largest premium hikes in 2022, significantly higher than those that went through brokers. Gap plans can help by providing coverage when employees have not met their health care deductible.

Health Insurance 98

Health Insurance Insurance Out of Pocket Cost Deductible 98

BerniePortal

SEPTEMBER 23, 2021

As the time nears for organizations to renew their health plan , many employees may become concerned if their health insurance deductibles are also set to renew. If an employee is on the cusp of meeting their deductible when it comes time for their health insurance plan to reset, it can be an understandable worry.

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Deductible Deductions Insurance Health Insurance 98

PeopleKeep

DECEMBER 10, 2021

For most people, open enrollment is that time of year when choosing health insurance is crucial. It can be difficult to make sure you have the coverage you need without paying more than you have to.

Deductible 98

Deductible Deductions Health Insurance Insurance 98

InterWest Insurance Services

APRIL 27, 2022

Surprise bills and billing errors are driving growing dissatisfaction among Millennials and Gen Zers with their health insurance, a new study has found. Already facing outsized medical cost hits, an increase in billing mistakes and surprise bills is contributing to a dim view of health insurance among Millennials and Gen Zers.

Health Insurance 98

Health Insurance Insurance Health Savings Account Deductible 98

PeopleKeep

SEPTEMBER 15, 2021

As renewal season comes around each year, employers everywhere brace themselves for what their new group health insurance premiums will look like in the new year—because chances are, they’ll be higher. When group health insurance premiums go up, it gets that much harder to meet the employer contribution requirements.

Health Insurance 97

Health Insurance Insurance Deductible Deductions 97

Business Management Daily

MARCH 3, 2023

Tax credits vs. tax deductions The end result of taking tax credits and tax deductions is basically the same: You will pay less tax. But there is a difference between the two: Tax deductions reduce your taxable income. Any item you take as a tax credit can’t be used again as a tax deduction. In 2023, this amount is $2.89

Deductible 98

Deductible Deductions Taxes Health Insurance 98

Money Talk

DECEMBER 16, 2021

One category is health care, which takes a big chunk out of family budgets. This includes expenses for health insurance as well as deductibles, copayments, and coinsurance when medical bills occur. In 2018, the average American household spent almost $5,000 per person on health care.

Medical 230

Medical Health Insurance Hospitality Insurance 230

Insperity

MARCH 29, 2022

Health insurance is often the biggest-ticket item in any company’s benefits package, and the cost of health insurance rises on average each year , historically. Companies spend a lot of money, time and effort to make their benefits competitive and provide quality group health insurance plans to employees.

Health Insurance 101

Health Insurance Insurance Insurance Carriers Education 101

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. Providers in an insurer’s network may charge vastly different rates for the same procedure.

Deductible 98

Deductible Deductions Out of Pocket Cost Health Savings Account 98

Business Management Daily

OCTOBER 6, 2021

The prevalence of depression and anxiety in adults has skyrocketed since the start of the covid-19 pandemic, according to the most recent study by Mental Health America. Whether you know it or not, you have employees that are currently experiencing mental health struggles. Are mental health services covered by health insurance?

Health Insurance 98

Health Insurance Insurance Employment Deductible 98

Insperity

MAY 13, 2015

If you’re shopping for group health insurance for your company the first or second time around, it can be hard to make a confident choice. Not to mention, the Affordable Care Act (ACA) has changed the group health insurance market considerably. High-deductible health plans. The account holder (i.e.,

Health Insurance 87

Health Insurance Insurance Out of Pocket Cost Health Savings Account 87

HR Lineup

OCTOBER 18, 2023

This software is a comprehensive platform that allows HR professionals, benefits managers, and employees to efficiently manage, access, and make decisions regarding benefits such as health insurance, retirement plans, leave policies, and more. It offers automated benefits administration, including health insurance and retirement plans.

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Software Retirement Plan Health Insurance Payroll 246

Money Talk

JULY 25, 2024

Contributions to non-Roth accounts are often tax-deductible, thereby reducing adjusted gross and, ultimately taxable, income. Don’t Overlook Health Insurance Tax Premiums - Self-employed older adults who pay their health insurance premiums (including Medicare) may be eligible to deduct these expenses as an adjustment to gross income.

Employment 162

Employment Health Insurance Pension Finance 162

Money Talk

NOVEMBER 15, 2022

Below are ten general tips for purchasing an auto insurance policy: ¨ Don’t Skimp on Liability Coverage- Remember that liability coverage is the most important part of an auto insurance policy because there is no upper limit on a potential liability judgment. Make sure that you have the deductible amount (e.g., Do this (e.g.,

Insurance 182

Insurance Deductible Deductions Health Insurance 182

InterWest Insurance Services

JANUARY 17, 2023

Discontinuing group health coverage. It’s important they understand that they will be dropped from your group health plan and that they have a seven-month window to sign up for Medicare (during the three months prior to the month they turn 65, the month they turn 65, and the three months after turning 65).

Health Insurance 97

Health Insurance Insurance Health Savings Account Hospitality 97

Higginbotham

APRIL 8, 2025

Rising premiums, increased deductibles and mounting prescription drug costs can quickly erode health care budgets. Cost-Shifting to Employees: Higher deductibles, copays and out-of-pocket costs may ease the financial burden for public sector entities, but they could have a negative impact on employee satisfaction and team morale.

Health Insurance 52

Health Insurance Out of Pocket Cost Deductible Deductions 52

Money Talk

APRIL 14, 2022

Here are 12 tax topics to consider: Itemized Deductions- Only about 10% of taxpayers can itemize since the Tax Cuts and Jobs Act went into effect in 2018. Strategies to garner a tax benefit for charitable gifts to qualified charities include “bunching” deductions into one tax year and setting up and funding a donor advised fund.

Taxes 189

Taxes Family and Medical Leave Act 401(k) Deductible 189

InterWest Insurance Services

DECEMBER 10, 2024

Most commercial health plans and Medicare pay about $290 for Ozempic and $649 for Wegovy, according to an anti-obesity medication cost report prepared by the Department of Health and Human Services. It should be noted that health plans that cover anti-obesity medications saw a 4.8 The list price for Wegovy was $1,349, down 2.5%

Employment 97

Employment Pharmaceutical Medical Benefits Package 97

Money Talk

AUGUST 3, 2022

Consider Tax-Saving Gifts - Only about 10% of taxpayers today can itemize deductions and it generally requires a plan to aggregate sufficient deductible expenses that exceed the standard deduction amount ($12,950 for singles and $25,900 for married couples filing jointly). Specifically, taxable investments (e.g.,

Taxes 189

Taxes 401(k) Flexible Spending Account Deductible 189

Qandle

JANUARY 29, 2025

5 Streamlines Benefit Deductions Benefit deductions, such as healthcare premiums, retirement contributions, and other employee benefits, can be complex to calculate. Payroll software simplifies this process by automatically applying the correct deductions based on employee benefits selections. Why Compliance Matters?

Payroll Software 91

Payroll Software Software Payroll Overtime 91

Higginbotham

MARCH 24, 2025

You can build up your HSA with pre-tax contributions and use it for qualified health expenses. If you have qualified employer-sponsored health insurance, you may want to delay Medicare enrollment past age 65. If you have questions, speak with your health insurance advisor.

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductible Deductions 52

WEX Inc.

SEPTEMBER 4, 2024

Whether you’re transitioning from your parents’ insurance, landed your first full-time job, or are simply obtaining coverage for the first time, choosing health plans and employee benefits options can be overwhelming. For starters, let’s look at a few considerations when evaluating health plans for the first time.

Deductible 52

Deductible Deductions Flexible Spending Account Healthcare 52

InterWest Insurance Services

JANUARY 17, 2023

Besides health insurance and a 401(k) plan, other benefits that employees value highly are generous paid time off and flexible or remote work, according to a new survey. Also, with mental health support and resources high on the list for younger workers, employers may consider tapping an employee assistance program.

401(k) 98

401(k) Health Insurance Insurance Voluntary Benefits 98

InterWest Insurance Services

AUGUST 5, 2022

The biggest concern among employers is the increasing costs that employees have to shoulder for their health benefits. Employers are starting to realize that a high-deductible health plan with an attached health savings account is not a good fit for all of their employees. workers with more medical debt.

Health Insurance 98

Health Insurance Insurance Deductible Deductions 98

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

Best Money Moves

OCTOBER 1, 2024

However, Gen Z employees are particularly susceptible to a lack of education on insurance terms and policies. In fact, when surveyed by the National Association of Insurance Commissioners (NAIC), only about a quarter of Gen Z adults could define the terms “deductible” (27%) and “copay” (29%).

Insurance 59

Insurance Deductible Deductions Retirement Plan 59

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. It is not legal or tax advice.

Health Savings Account 59

Health Savings Account Taxes Health Insurance Consulting 59

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. Insurance Check-Up - While stocks have trended downward so far in 2022, insurance premiums (homeowners, auto, health, etc.) child care, loan) ends.

401(k) 189

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

InterWest Insurance Services

JANUARY 28, 2025

Employees who are unfamiliar with how to access care using their group health insurance can inflate your plan costs and how much they pay out of pocket. With health plans absorbing a portion of ER costs, decisions like this can negatively affect your plan as well.

Health Insurance 59

Health Insurance Insurance Retail Education 59

Fringe Benefit Analysts

FEBRUARY 25, 2021

Why is Health Insurance Important? . Medical insurance is critical to help individuals pay for these, and many other, health-related expenses. Medical insurance is critical to help individuals pay for these, and many other, health-related expenses. What is Group Health Insurance?

Health Insurance 52

Health Insurance Insurance Hospitality Health 52

PeopleKeep

FEBRUARY 14, 2024

Have you ever heard the term deductible when it comes to health insurance but aren’t quite sure what it means? Understanding the concept of a deductible is crucial for effectively managing your medical finances and making informed decisions.

Deductible 52

Deductible Deductions Health Insurance Finance 52

WEX Inc.

OCTOBER 17, 2024

The ACA in particular, introduced a fundamental change to the rules governing how employers offer health insurance. However, Byrd said that despite these changes, the percentage of working-age Americans receiving health insurance through their employer has remained relatively stable over time.

Employee Benefits 59

Employee Benefits Flexible Spending Account Health Savings Account Out of Pocket Cost 59

HR Lineup

JUNE 9, 2024

Employee database software, also known as Human Resource Information System (HRIS) or Human Resource Management System (HRMS), is a digital tool designed to streamline the management of employee information and HR processes. Myhrtoolkit Myhrtoolkit is a user-friendly HR software specifically designed for small and medium-sized businesses.

Software 246

Software Payroll Human Resources Overtime 246

CorpStrat

APRIL 30, 2025

But heres the hidden truth: tariffs may quietly drive up the cost of employer-sponsored health benefits, affecting your bottom line and your ability to attract and retain talent. How Do Tariffs Connect to Health Insurance? Rising premiums, higher deductibles, and tighter networks. And then the patient.

Pharmaceutical 52

Pharmaceutical Out of Pocket Cost Insurance Carriers Employment 52