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The IRS requires non-discrimination testing for employers who offer plans governed by Section 125 , which includes a flexiblespending account (FSA). You’ll be able to: Access immediate results through downloadable, online reports. What plans require non-discrimination testing? Easily obtain historical reports for past tests.
In fact, staying on top of your health savings account (HSA) , flexiblespending account (FSA) , or any other plan you signed up for throughout the year can pay off for you. Download our app A variety of day-to-day expenses are eligible for your HSA and FSA funds, including over-the-counter expenses. Its an expectation.
For a long time, I believed you were either for Health Savings Accounts (HSAs) or you were for FlexibleSpending Accounts (FSAs), but you couldn’t be for both. To learn more about FSAs and HSAs, download our account comparison chart. The very nature of HSAs prevented you from also participating in a General Medical FSA.
Plans like health reimbursement arrangements (HRAs), health savings accounts (HSAs), and flexiblespending accounts (FSAs) are all ABHPs that are growing in popularity. Click to download yours here. In fact, Willis Towers Watson’s Best Practices in Health Care survey reports 84% of employers offered an ABHP in 2019.
Download our new ebook, Decoding the Dollars: Unraveling FSA vs. HSA. download our ebook The post Download our Healthcare Savings Ebook appeared first on BRI | Benefit Resource. While both accounts offer benefits, they have distinct features that suit different financial situations and personal preferences.
Your benefits administrator may also offer non-discrimination testing , which is required for flexiblespending accounts (FSAs) , health reimbursement arrangements (HRAs) , and more. Download now! Do our employees understand and value their benefits? Check out our handout. It is not legal or tax advice.
If that’s not feasible, you may be able to join the 58 percent of smaller firms (and 83 percent of larger ones) who offer a dependent care flexiblespending account. To learn more, download our e-book, “How to Incentivize Your Workforce.”. . . Make Sure Employees Take All Their Paid Leave. Share your comments below. .
Check out the 7 tips and download your very own checklist below! Cafeteria Plan and FlexibleSpending Account (FSA) Plan Amendments. Download Your Checklist. 2021 has been another challenging, exciting, and ever evolving year for the business world. Let us help ensure your company is compliant. Happy 2022!
In fact, staying on top of your health savings account (HSA) , flexiblespending account (FSA) , or any other plan you signed up for throughout the year can pay off for you. Download our app A variety of day-to-day expenses are eligible for your HSA and FSA funds, including over-the-counter expenses. It’s an expectation.
If that’s not feasible, you may be able to join the 58 percent of smaller firms (and 83 percent of larger ones) who offer a dependent care flexiblespending account. To learn more, download our e-book, “How to Incentivize Your Workforce.” Make Sure Employees Take All Their Paid Leave. Share your comments below.
And you can download our handout to learn more about the perks of outsourcing benefits administration. Download now! Your benefits administrator may also offer non-discrimination testing , which is required for flexiblespending accounts (FSAs) , health reimbursement arrangements (HRAs) , and more.
Flexiblespending accounts (FSAs) are a powerful tool for individuals and employers to save money on healthcare and dependent care expenses. Download now! Most employees are about to have the opportunity to re-evaluate their benefits options during open enrollment. Want to learn more about how you can support your employees?
Please be sure to download the cheat sheets for answers to all four questions. A Medical FlexibleSpending Account (Medical FSA) allows you to use tax-free money to pay for your family’s medical expenses. Download: Why Do I Need a Medical FSA? Download: Why do I Need a Limited FSA? Download: Why do I Need an HSA?
This can look like: Using well-known carriers for the health insurance options you sponsor Contributing to a health savings account or flexiblespending account for employees Offering an employee assistance program (EAP) Matching a percentage of employee retirement plan contributions.
If you want to learn more about how Best Money Moves can bring financial wellness to your company download our whitepapers and sign up for a demonstration here. #2 2 Flexible Work Arrangements. Each point translates into a chance to win a monthly contest. 4 Paid Time Off.
How does a flexiblespending account work? Download our free e-book, HR Outsourcing: A Step-by-Step Guide to Professional Employer Organizations (PEOs). For instance, what costs are the employees responsible for (partial premiums, deductibles, etc.)? When will premiums be deducted from employees’ paychecks?
If you have a FlexibleSpending 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. Download and print the PDF here. This document provides a slightly more in-depth look at potential expenses. Estimating Tax Savings.
Health flexiblespending accounts (FSAs). DOWNLOAD OUR FREE PDF DETAILING 2023 LIMIT INCREASES: DOWNLOAD PDF. DOWNLOAD OUR FREE PDF DETAILING 2023 LIMIT INCREASES. The following commonly offered Employee Benefits are subject to these limits: High deductible health plans (HDHPs) and health savings accounts (HSAs).
This alone can help ease some of your employees’ money concerns because they will have the opportunity to get things like medical insurance, disability, flexiblespending accounts, retirement plans and more. Promote the money-saving value of a flexiblespending account.
Check out the 7 tips and download your very own checklist below! The WRAP Download Your Checklist As always, feel free to reach out to The Olson Group HR Compliance team with any questions. 2021 has been another challenging, exciting, and ever evolving year for the business world. Let us help ensure your company is compliant.
FlexibleSpending Accounts are not eligible for subsidy. Beginning April 23, Plan Sponsors will be able to download the Participant Lookback Report from the BRI COBRA portal and identify the Assistance Eligible Individuals on the report. The subsidy is available for both fully insured and self-insured plans. When will it end?
With FlexibleSpending Accounts (FSAs), imputed income is the last resort when receipts requests (or supporting documentation) are not provided. For a refresher on receipt requests, check out the following resources: Why Receipt Requests (Downloadable FAQs). Why it happens. FSAs and Imputed Income.
Now that you’ve explained (again) how insurance works, you get to begin the real work of teaching employees the difference between FlexibleSpending Accounts (FSAs) and Health Savings Accounts (HSAs). Download it now! Within the pre-tax benefit space, your work is cut out for you as a human resource professional.
Click here to download our guide to acronyms used in benefits. To make it (hopefully) a little easier, we will tackle it through four groups: Rules and Enforcers. The Pre-tax Toolbox. Accounting and HR Terms. General Benefits Terms. Are you ready to better understand the language used in the benefits world? Check out these other resources.
The following commonly offered employee benefits are subject to these limits: High deductible health plans (HDHPs) and health savings accounts (HSAs); Health flexiblespending accounts (FSAs); 401(k) plans; and. Many employee benefits are subject to annual dollar limits that are adjusted for inflation by the IRS each year.
requiring employers in California to notify employees who participate in a FlexibleSpending Account (FSA) of any deadline to withdraw funds, where the deadline is prior to the end of the plan year. Download an account summary template that can be used as a guide. High Level Summary.
Offer Choice and Flexibility Employees value choice and flexibility. Consider flexiblespending accounts, wellness programs, or additional voluntary benefits that employees can choose based on their priorities. Download your guide today and share it with your team or other decision-makers.
The IRS requires non-discrimination testing for employers who offer plans governed by Section 125 , which includes a flexiblespending account (FSA). You’ll be able to: Access immediate results through downloadable, online reports. What plans require non-discrimination testing? Easily obtain historical reports for past tests.
From basic benefits like medical and dental coverage, to health care flexiblespending accounts and life insurance, the list of benefits you’ll have to manage can grow quickly. Download our free e-book, HR technology: How to choose the best platform for your business.
If you are a participant whose benefits are pre-tax benefits are administered by BRI, you can have your doctor fill out an LMN (which you can download for free here ). This includes scales, weight loss program costs, and supporting material such as training videos or online coaches. How do I know what’s eligible?
An additional tool can be pairing an HSA-HDHP with a Limited FlexibleSpending Account (or Limited FSA). Download our HSA Case Study to learn how you can be an HR superhero and save your company from low adoption rates. By offering an HSA with a Limited FSA, you help reduce healthcare costs.
Or, download the 1-page summary using the button below. Download Summary Results Audience Breakdown BRI’s 2023 Participant Survey was conducted from August 10th to September 1st. 29% submit online/mobile claims to access funds, while 7% still use paper claims. 7% use a digital wallet. 80% use BRIWEB, while 36% use BRIMOBILE.
In this section, we’ll explore areas related to FlexibleSpending Accounts, Health Savings Accounts, and Health Reimbursement Accounts. Download and share these one-pagers on “Why Should I Enroll” with employees. The BRight Ideas Quiz administered by Benefit Resource, Inc.
Continue reading to see a text summary and download the full summary of results. . Download Results Download the results using one of the buttons below. . BRI’s 2022 Participant Satisfaction Survey was conducted from July 19th to August 12th. Features of BRIWEB and BRIMOBILE were rated as follows: Account Management: 89.0%
Check out our guide on submitting claims for help with claims reimbursement and download our Certification of Medical Necessity form here. *Certain commonly used sleep aids (e.g., Melatonin) are considered dual-purpose items and require a Letter of Medical Necessity (LMN) to accompany claims for reimbursement. First Aid Creams.
Some people might want benefits that can be used to support children, like a General or Limited FlexibleSpending Account (FSA) or a Dependent Care FSA. For a comprehensive guide on how to communicate effectively during a remote open enrollment season, download our remote Open Enrollment guide. Active Listening.
As a co-employer, the PEO is able to offer a wide variety of benefits to your employees through PEO-sponsored benefit plans, such as medical, dental and vision coverage, a healthcare flexiblespending account, and life and disability benefits. And your employees will have a single point of contact for information and questions.
For example, funds from health savings and flexiblespending accounts generally can be used to pay for mental health therapy. It’s free to download and is full of good information and ideas. These open conversations and educational sessions also help to reduce the stigma around mental health support and issues.
HSA is the acronym for health savings account; FSA is the acronym for flexiblespending account. An easy, basic way to distinguish what each account is intended for is by focusing on what the letter “S” represents in each: savings and spending. Start by educating yourself on the basics.
A flexiblespending account (FSA), which can be used to cover childcare and medical costs tax-free. Download PDF Subscribe to the Knowledge Center. Long-term disability, which may be needed if a doctor orders bed rest. A health savings account (HSA), which can also be used to cover medical expenses tax-free.
If you are thinking about opening a Dependent Care Account, download this one-page guide to determine how much you could save. If you have dependent care expenses you need to get reimbursed for, complete this form and submit it with a claim form to Benefit Resource. The post Are you using your Dependent Care Account the right way?
It’s easy to understand why employees might confuse an HSA with a flexiblespending account (FSA) or a health reimbursement arrangement (HRA), which both put limits on spending and/or contributions and may not roll over from year to year. HSA, HRA, FSA: Interpreting the Alphabet Soup of Healthcare Spending Accounts.
Job search site Indeed provides tips for writing an employee handbook and free downloadable templates here. Sample: This benefits enrollment form for Boston University employees covers the entire benefits package, including health and dental, life insurance, and flexiblespending accounts (FSAs). Here are a few.
After reviewing benefits and trends, you may find that adding a pre-tax benefit, such as a health savings account (HSA), flexiblespending account (FSA) or a health reimbursement account (HRA), can help the organization save money while giving employees a way to better plan their healthcare and finances.
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