HR Lineup

JULY 6, 2023

Payroll Outsourcing: Payroll is a critical HR function that involves the calculation of employee salaries, tax deductions, and compliance with local labor laws. This type of outsourcing is particularly beneficial for organizations that require large-scale hiring or lack internal recruitment capabilities.

Human Resources 246

Human Resources Outsourcing Payroll Retirement Plan Payroll 246

PeopleKeep

DECEMBER 21, 2020

Savvy employers and consumers can take advantage of several types of tax reductions when it comes to healthcare costs.

Taxes 52

Taxes Healthcare Deductions Deductible 52

WEX Inc.

MARCH 7, 2023

The season for filing taxes is upon us once again. 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.

Taxes 98

Taxes Health Savings Account Deductions Deductible 98

Benefit Resource Inc.

JANUARY 3, 2023

If you’re in the 70% of people who have health-related goals for 2023, let’s take a look at how pre-tax benefits can help set goals and prioritize your health this year and beyond. Add In Pre-Tax Benefits. Plus, any interest earned on the account is tax free and the money is ALWAYS yours! Set SMART Goals.

Utilities 98

Utilities Taxes Flexible Spending Account Flexible Spending 98

WEX Inc.

SEPTEMBER 18, 2024

It’s your best chance to evaluate your healthcare needs and identify opportunities to better support yourself and your family. Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans. Open enrollment is around the corner for many of you.

401(k) 52

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

WEX Inc.

JUNE 13, 2024

The average 65-year-old couple retiring today will need $351,000 to cover healthcare and medical costs in retirement. And even though Medicare helps pay for the healthcare needs of 63 million people, most recipients still spend thousands each year on out-of-pocket expenses. All three accounts provide potential tax savings.

401(k) 96

401(k) Retirement Plan Health Savings Account Deductions 96

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.” Deductibles are too high.

Deductions 75

Deductions Deductible Flexible Spending Account Health Savings Account 75

Best Money Moves

DECEMBER 9, 2024

Companies are helping employees make their healthcare costs more manageable through effective healthcare benefits. 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.

roth 401(k) 52

roth 401(k) 401(k) Benefits Package Paid Leave 52

Benefit Resource Inc.

OCTOBER 11, 2018

What is a pre-tax benefit account? A pre-tax benefit account allows you to set aside money from your paycheck before taxes to use for IRS-approved purchases. The items you can pay for through a pre-tax benefit account depends on which plan(s) you have. Childcare/Adult Care (Dependent Care FSA). Medical FSA.

Taxes 74

Taxes Health Savings Account Medical Deductions 74

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. HDHP vs. PPO deductible Nearly two-thirds of large employers provide their employees with the choice of an HDHP and a traditional health plan , such as a preferred provider organization (PPO).

Deductions 97

Deductions Deductible Health Savings Account Employee Enrollments 97

WEX Inc.

MARCH 16, 2023

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). A health savings account gives you greater control of your healthcare expenses and potential savings.

Health Savings Account 98

Health Savings Account Deductions Deductible Healthcare 98

WEX Inc.

AUGUST 15, 2023

Assess your annual expenses Understanding your annual healthcare expenses is a fundamental step in selecting the right health plan. If you rarely require medical care and prefer to save on monthly premiums, a plan with a higher deductible and lower premiums might be suitable.

Deductions 98

Deductions Deductible Healthcare Flexible Spending Account 98

Benefit Resource Inc.

DECEMBER 8, 2023

As we celebrate the 20th anniversary of Health Savings Accounts (HSAs), it’s time to reflect on the transformative impact this financial tool has had on healthcare and personal finance. Key Benefits of HSAs Tax Advantages: One of the main attractions of HSAs is their triple tax advantage.

Health Savings Account 98

Health Savings Account Flexible Spending Account Healthcare Taxes 98

Business Management Daily

JUNE 29, 2022

Aside from transportation costs, tax-free reimbursements for employees’ medical travel are limited to $50 per person a day for lodging; meals aren’t included. However, HSAs must be paired with high-deductible health plans. The high deductibles continue to apply. Your plan must be amended to allow for the roll-over option.

Family and Medical Leave Act 92

Family and Medical Leave Act Healthcare Employment Medical 92

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 Deductions Deductible Healthcare 98

WEX Inc.

OCTOBER 4, 2023

You must be enrolled in a high-deductible health plan (HDHP) to be eligible, which lowers you insurance premiums. Health savings accounts have a triple-tax advantage, meaning distributions for qualified medical expenses and investment returns are tax-free, and contributions are tax-deductible.

401(k) 98

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

WEX Inc.

MAY 2, 2024

For employers, HRAs or HSAs come with perks, including tax savings and increased employee retention. Health reimbursement arrangement An HRA is an employer-funded benefits plan that employees use to save pre-tax dollars on medical costs. Also, employees do not pay federal income tax or employment taxes on contributions to the account.

Health Savings Account 98

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

Employee Benefits

APRIL 3, 2024

Credit: everydayplus/shutterstock What are healthcare trusts? Healthcare trusts enable employers to provide self-funded medical cover to employees. Unlike private medical insurance (PMI), healthcare benefits are paid for from a trust fund, set up with trust rules. Are there any tax or legal issues?

Healthcare 59

Healthcare Healthcare Benefits Insurance Medical 59

Benefit Resource Inc.

SEPTEMBER 22, 2020

Healthcare is complicated, so how can you get the most out of Open Enrollment 2020? Start by using this list of three questions you should ask yourself before signing up for your pre-tax benefits. Question 1: What were my healthcare expenses last year? Need a refresher on healthcare terms?

Out of Pocket Cost 81

Out of Pocket Cost Deductions Deductible Healthcare 81

Benefit Resource Inc.

MAY 5, 2020

The CARES Act introduced new eligible items that you can purchase with funds from your pre-tax benefits accounts (FSAs, HSAs, and HRAs). Since the funds in these accounts are deducted from payroll pre-tax, you can save up to 40% on items that you already buy! That doesn’t mean you can’t enjoy the nice weather!

Taxes 77

Taxes Medical Deductions Deductible 77

WEX Inc.

SEPTEMBER 14, 2023

It’s your best chance to evaluate your healthcare needs and identify opportunities to better support yourself and your family. Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans. Open enrollment is around the corner for many of you.

401(k) 98

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

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. A FSA is an account that allows you to set aside pre-tax funds to pay out-of-pocket healthcare costs.

Flexible Spending Account 98

Flexible Spending Account Deductions Deductible Health 98

WEX Inc.

OCTOBER 9, 2024

It’s time to clarify the ins and outs of these tax-saving healthcare accounts and answer some HSA and FSA FAQs. Both allow employees to set aside pre-tax funds to cover qualified medical expenses, but that’s where most of the similarities end. Contributions are tied to enrollment in a high-deductible health plan (HDHP).

Flexible Spending Account 95

Flexible Spending Account Health Savings Account Flexible Spending Taxes 95

WEX Inc.

JULY 24, 2023

That's important considering that a 65-year-old couple retiring in 2020 would need an average of $351,000 in healthcare costs throughout retirement. A variety of recent studies have indicated that: The top issues “addressed through financial wellness initiatives were healthcare costs and retirement preparedness. “

Retirement Plan 98

Retirement Plan 401(k) Health Savings Account Taxes 98

Benefit Resource Inc.

JANUARY 3, 2022

Benefit Resource (BRI) is here to help you use your pre-tax funds to combat some of the costs that come with welcoming your new addition. Switch to a high-deductible health plan. This allows you to save on monthly premiums while putting tax-free money aside in your HSA. As a bonus, all of your gains will come out pre-tax!

Taxes 72

Taxes 401(k) Out of Pocket Cost Health Savings Account 72

WEX Inc.

MAY 17, 2023

2024 HDHP minimum deductible and maximum out-of-pocket limits also are increasing. 2024 high-deductible health plan (HDHP) amounts and expense limits also increased. The 2024 HDHP minimum deductible is $1,600 for self-only coverage and $3,200 for family coverage. It is not legal or tax advice. With an HSA. Learn more!

Health Savings Account 98

Health Savings Account Deductions Deductible Taxes 98

HR Digest

SEPTEMBER 14, 2020

If eligible, the startup receives a tax credit of up to 50% to offset the cost of the insurance. The tax credit is only available if the employer purchases a small group health plan from their state marketplace. The ideal solution is for employers to offer several types of plans, with varying price points and deductibles.

Health Insurance 98

Health Insurance Insurance Deductions Deductible 98

WEX Inc.

FEBRUARY 15, 2023

A medical FSA is a tax-advantaged employee benefit that gives participants the opportunity to save on out-of-pocket medical, dental, and vision eligible expenses. Your annual election amount comes out of your paycheck, and these pre-tax dollars are deposited directly into your FSA to be used on eligible expenses.

Medical 98

Medical Flexible Spending Account Flexible Spending Taxes 98

InterWest Insurance Services

SEPTEMBER 23, 2024

These plans allow workers to withhold a portion of their pre-tax salary to cover certain medical or childcare expenses. 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.

OCTOBER 20, 2023

While the severity of one's condition is the most important factor in choosing healthcare, other variables such as cost, convenience and whether a facility accepts insurance also play a role. If your deductible has been met, you will only pay for the copay at the time of your visit. It is not legal or tax advice. and growing.

Healthcare 98

Healthcare Insurance Consulting Benefits Package 98

PeopleStrategy

JULY 8, 2019

According to a recent survey , 35 percent of employees don’t understand their healthcare coverage, and another 33 percent don’t understand their medical bills. And, sadly, almost two-thirds (62 percent) of survey participants said their employer is not a resource for healthcare-related questions.

Health Savings Account 82

Health Savings Account Deductions Deductible Healthcare 82

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. Even though HSAs can be complex, tax reporting shouldn’t be a headache. With this information, you’ll be better equipped to tackle your HSA taxes. What are the tax benefits of an HSA?

Health Savings Account 52

Health Savings Account Taxes Healthcare Medical 52

Benefit Resource Inc.

MARCH 27, 2020

We, however, will focus on the three possible changes to tax-free account holders. What can we expect for tax-free accounts? However, these expenses cannot be covered until an individual meets a minimum deductible. However, this is a temporary provision to encourage telehealth services during the current healthcare emergency.

Health Savings Account 76

Health Savings Account Deductions Deductible Taxes 76

Best Money Moves

MARCH 11, 2024

Affordable healthcare Healthcare costs are a major concern for employees, especially for those who earn lower wages. Average healthcare premiums for American families increased 7% in 2024, according to research from KFF. Retirement plans are tax deductible, flexible and are a great way to attract new talent to your business.

Retirement Plan 105

Retirement Plan Healthcare Healthcare Benefits Parental Leave 105

Business Management Daily

NOVEMBER 15, 2021

Flexible Spending Accounts allow employees to set aside pre-tax dollars from their paycheck to use for medical or dependent care expenses. They may also be questioning whether they have a need for an FSA and if so, how much they should choose to have deducted each month. Healthcare FSA. Healthcare FSAs. Pregnancy tests.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Medical Healthcare 98

Benefit Resource Inc.

APRIL 20, 2023

This is a great opportunity to review your expenses and ensure you’re taking advantage of all the ways you can save on healthcare expenses. This not only helps you keep track of how much you’ve spent and how much is left in your account, but can also be helpful when it comes time to file taxes or submit claims.

Out of Pocket Cost 83

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

Employee Benefits

APRIL 3, 2024

An employment tribunal has ruled that Phoenix Healthcare and Rentacar 24/7 must pay £2,912.19 The tribunal ruled that the two businesses made unauthorised deductions from Piekielniak’s wages, failed to pay him for the hours he had worked, and did not provide a written statement of employment terms. for unpaid wages.

Healthcare 59

Healthcare Transportation Pension Deductions 59