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.

Deductible 75

Deductible Deductions Flexible Spending Account Health Savings Account 75

WEX Inc.

NOVEMBER 27, 2024

Nearly two-thirds of large employers provide their employees with the choice of a high-deductible health plan (HDHP) and a traditional health plan, such as a preferred provider organization (PPO), during open enrollment. The IRS sets deductible limits that determine what is an HDHP. But there are high-deductible PPOs, as well.

Deductible 52

Deductible Deductions Health Savings Account Flexible Spending Account 52

Money Talk

JANUARY 19, 2022

Make Tax-Advantaged Gifts - Consider “bunching” charitable donations with other tax deductions (e.g., high income years) to exceed the standard deduction and benefit from itemizing. Check Your FSA - Learn the rules for your flexible spending account (FSA). state income tax and local property tax) every so often (e.g.,

Flexible Spending Account 187

Flexible Spending Account Taxes Pension Deductible 187

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.

Deductible 52

Deductible Deductions Taxes Flexible Spending Account 52

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. An informative blog , educational videos and savings and goal calculators make it easy for you to determine your plan elections. 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. We are almost at the halfway mark of 2022, which makes this a perfect time to assess your financial progress and take action over the next six months.

401(k) 189

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

Flimp Communications

FEBRUARY 25, 2025

In previous articles, we have covered several strategies for demystifying HSAs , HDHPs, and similarly confusing tax-advantaged programs like flexible spending accounts (FSAs). Employees can deduct up to $300 per month in transit account contributions and $300 per month in parking account contributions. Explanatory videos.

Taxes 52

Taxes Deductible Deductions Flexible Spending Account 52

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. Can I pay my deductible with my Medical FSA? Maybe you didn’t realize there is more than one type of FSA to choose from.

Medical 98

Medical Flexible Spending Account Flexible Spending Deductible 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. You must be enrolled in a high-deductible health plan (HDHP) to be eligible, which lowers you insurance premiums. Traditional health plans typically have higher premiums but lower deductibles.

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. The employee chooses how much they want to put into the plan each year and this is deducted from their paycheck automatically for each payroll period.

Flexible Spending Account 96

Flexible Spending Account 401(k) Flexible Spending Deductible 96

WEX Inc.

OCTOBER 15, 2024

While HSAs combine several of the best features of 401(k)s and flexible spending accounts (FSAs), they are often overlooked and underutilized. Employers’ contributions to employees’ HSAs are tax deductible. Employees can spend, save, or invest their HSAs. The information in this post is for educational purposes only.

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. Combination FSA, which is a limited FSA that converts into a medical FSA once the IRS deductible is met.

Flexible Spending Account 98

Flexible Spending Account Deductible Deductions Health 98

InterWest Insurance Services

NOVEMBER 25, 2022

The IRS has released the 2023 maximum contribution amounts for health savings accounts and flexible spending accounts. They also cover the minimum deductibles that qualify programs as high-deductible health plans (HDHPs), which an HSA must be attached to under law. 7,750 for family coverage (up $450). The takeaway.

401(k) 98

401(k) Deductible Deductions Flexible Spending Account 98

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. This information will impact the calculation of employee pay. Ensure accuracy and verify any changes or updates.

Payroll 98

Payroll Flexible Spending Account Overtime Payroll Software 98

WEX Inc.

AUGUST 15, 2023

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. On the other hand, if you anticipate regular medical visits, chronic conditions, or potential emergencies, a plan with lower deductibles and higher premiums may offer better cost protections.

Deductible 98

Deductible Deductions Healthcare Flexible Spending Account 98

Genesis HR Solutions

JANUARY 24, 2023

Get all the information in this guide. It should also include language about reporting unsafe conditions and potential hazards, and information about where employees can report accidents, etc. Unemployment compensation This policy informs employees that, should they be terminated, they may be eligible for benefits.

Family and Medical Leave Act 98

Family and Medical Leave Act Overtime Parental Leave Health and Welfare 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)? Just make sure you’re using your card somewhere that offers an Inventory Information Approval System (IIAS) or meets the IRS’ 90 percent rule. Check out our podcast episode below!

Medical 98

Medical Flexible Spending Account Flexible Spending Taxes 98

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 Deductible 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

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. Take Advantage of a Medical FSA. HRAs can be designed by an employer to fit a variety of needs and program designs.

Utilities 98

Utilities Taxes Flexible Spending Account Flexible Spending 98

WEX Inc.

OCTOBER 9, 2024

Health savings accounts (HSAs) and flexible spending accounts (FSAs) are often misunderstood, despite their significant financial advantages. Contributions are tied to enrollment in a high-deductible health plan (HDHP). The information in this blog post is for educational purposes only. It is not legal or tax advice.

Flexible Spending Account 95

Flexible Spending Account Health Savings Account Flexible Spending Taxes 95

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. An informative blog , educational videos and savings and goal calculators make it easy for you to determine your plan elections. Open enrollment comes just once a year.

401(k) 98

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

Benefit Resource Inc.

OCTOBER 18, 2018

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. Before visiting the site, you’ll want to have several pieces of insurance information. Annual deductible. Option 3 —Write it out.

Deductible 74

Deductible Deductions Health Flexible Spending Account 74

Insperity

OCTOBER 31, 2017

Make sure your new hires are fully informed. Easy-to-follow instructions for how to get questions answered, including contact information for: Your internal benefits representatives. Give employees ample time to read and analyze information by communicating early in the game. So, what leads to this lack of participation?

Out of Pocket Cost 84

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

Best Money Moves

JULY 8, 2020

The best financial wellness programs , like Best Money Moves, recognize that every worker experiences different kinds of financial stress and harnesses machine learning to guide employees to the information they need most. . 2 Flexible Work Arrangements. Each point translates into a chance to win a monthly contest. 4 Paid Time Off.

Employee Benefits 111

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

InterWest Insurance Services

SEPTEMBER 27, 2023

It’s almost time for group health insurance open enrollment and your top priority should be to drive participation by helping your employees make informed decisions about their options. The lower the premium on the plan, the higher the deductibles and copays. Get an early start If your plan year starts Jan.

Out of Pocket Cost 93

Out of Pocket Cost Flexible Spending Account Health Savings Account Health Insurance 93

Benefit Resource Inc.

JUNE 29, 2021

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.

401(k) 78

401(k) Deductible Deductions Flexible Spending Account 78

Benefit Resource Inc.

MARCH 28, 2024

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.

Flexible Spending Account 52

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

Insperity

FEBRUARY 13, 2018

This alone can help ease some of your employees’ money concerns because they will have the opportunity to get things like medical insurance, disability, flexible spending accounts, retirement plans and more. Oftentimes, people will pay more monthly for car insurance so they can get a low deductible, usually $500.

401(k) 75

401(k) Disability Insurance Flexible Spending Account Deductible 75

Business Management Daily

SEPTEMBER 22, 2021

HSA funds can be used for prescription drugs, deductibles, copayments, and other covered health costs. Eligibility for HSAs is generally limited to people enrolled in High Deductible Health Plan (HDHP). Like HSAs, they can cover copays, prescription drugs, and deductibles. Hold information sessions.

Employment 90

Employment Deductible Deductions Benefit Providers 90

Benefit Resource Inc.

APRIL 10, 2023

To review, an IIAS merchant has an Inventory Information Approval System (IIAS) that automatically identifies eligible medical expenses. Confirm enrollment in a health plan To receive automatic approval for co-pays, certain co-insurance, and deductible expenses, make sure your employer has reported you as enrolled in the company health plan.

Insurance Carriers 98

Insurance Carriers Hospitality Deductible Deductions 98

Benefit Resource Inc.

NOVEMBER 4, 2021

Health Saving Accounts (HSAs) help you play a more informed and active role in controlling your family’s health care costs. Rather than a “use it or lose it” approach like a Flexible Spending Account (FSA), HSAs serve as a “stow it and grow it” form of savings that accumulate over time.

401(k) 75

401(k) Flexible Spending Account Deductible Deductions 75

Benefits Notes

NOVEMBER 21, 2023

The IRS also announced the health savings account (HSA) and high deductible health plan (HDHP) annual deductible and out-of-pocket expense adjustments earlier this year in Revenue Procedure 2023-23 and the health flexible spending arrangement (Medical FSA) adjustments in Revenue Procedure 2023-34.

401(k) 52

401(k) Health Savings Account Retirement Plan Deductible 52

Insperity

APRIL 16, 2015

This includes medical, dental and vision coverage, a health care flexible spending account , a retirement plan, life insurance and personal accident insurance, short-term and long-term disability insurance, adoption assistance, commuter benefits and educational assistance. HR administration.

Payroll 98

Payroll Flexible Spending Account Disability Insurance Insurance 98

WEX Inc.

JUNE 13, 2024

Flexible spending accounts (FSAs) allow your employees to use pre-tax dollars to cover eligible out-of-pocket healthcare expenses, providing a tax-efficient way to manage medical costs and helping you and your employees save money. Combination FSA: A limited FSA that converts into a medical FSA once the IRS deductible is met.

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account Taxes 52

WEX Inc.

SEPTEMBER 12, 2023

To take advantage of an HSA, you need to participate in an HSA-eligible health plan (or high-deductible health plan). HSA-eligible health plans typically have lower premiums but higher deductibles. Assess your ability to cover the deductible before choosing this plan.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Life Insurance 52

Higginbotham

NOVEMBER 11, 2021

In the interim, please review the following informational pieces we have put together for you: Employer Obligations and the COVID-19 Vaccination ETS – Infographic. Internal Revenue Code (Code) Section 125 imposes a maximum dollar limit on employees’ salary reduction contributions to a health flexible spending account (FSA).

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Deductible Deductions 52