Flimp Communications

DECEMBER 10, 2024

As year-end draws closer, countless employees unknowingly leave money on the tablemoney theyve set aside for healthcare through their Flexible Spending Accounts (FSAs). For employees, it means paying out of pocket for expenses that could have been purchased with pre-tax dollars.

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Utilities Family and Medical Leave Act Flexible Spending Account Medical 98

WEX Inc.

DECEMBER 11, 2024

Fortunately, health savings accounts (HSAs) and flexible spending accounts (FSAs) cover many common winter eligible expenses you might turn to this time of year! You can use pre-tax dollars to save money on purchases such as hot/cold packs and heating pads. It is not legal or tax advice.

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WEX Inc.

JANUARY 2, 2025

A dependent care FSA allows employees to save up to 30% or more on childcare or elder care costs by using pre-tax dollars, lowering their taxable income. 5 common FSA terms you should know Boost your understanding of flexible spending accounts (FSAs) by mastering these 5 common terms. It is not legal or tax advice.

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Flexible Spending Account Health Savings Account Flexible Spending Taxes 52

WEX Inc.

DECEMBER 18, 2024

Flexible spending accounts (FSA) Flexible spending accounts (FSAs) offer a valuable tax-advantaged benefit, but the IRS use-or-lose rule can result in forfeited funds if employees dont use their balances by the deadline. The information in this blog post is for educational purposes only.

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Insperity

NOVEMBER 26, 2024

Add health savings accounts and flexible spending accounts. Provide general financial education at no cost or low cost through trusted third-party resources. Reimburse employees’ tuition costs for obtaining higher education or continuing career education while they’re employed at your company.

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InterWest Insurance Services

JULY 20, 2022

Keep in mind that the ritual of choosing a benefits package is a brand-new experience for people who are new to the workforce, and you should prepare to educate new employees on how to effectively choose and use their new coverages, as well as all the details like premiums, deductibles and out-of-pocket expenses. Continuing education.

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Education 401(k) Deductions Deductible 98

WEX Inc.

JANUARY 8, 2025

In fact, staying on top of your health savings account (HSA) , flexible spending account (FSA) , or any other plan you signed up for throughout the year can pay off for you. Add dependents Your HSA or FSA may cover your dependents costs if the dependents are claimed on your tax return. How do you do this?

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Money Talk

JANUARY 19, 2022

Make Tax-Advantaged Gifts - Consider “bunching” charitable donations with other tax deductions (e.g., state income tax and local property tax) every so often (e.g., Another tax-advantaged way to benefit from charitable gifts is to open a donor advised fund (DAF) with a major brokerage firm.

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Flexible Spending Account Taxes Pension Deductible 187

WEX Inc.

JANUARY 14, 2025

Host benefits education sessions Many employees may not fully understand the value of their benefits. The information in this blog post is for educational purposes only. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.

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WEX Inc.

OCTOBER 15, 2024

“Health savings accounts are booming in popularity, with total assets eclipsing $123 billion in 2023 – nearly triple from just five years earlier – and yet they’re still widely misunderstood,” said Robert Deshaies, Chief Operating Officer of Benefits at WEX. Employers’ contributions to employees’ HSAs are tax deductible.

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

WEX Inc.

SEPTEMBER 26, 2024

When things change at lightspeed, it is imperative to have team members who understand what you need to do to stay in compliance, but also develop a detailed plan to execute, predict and account for downstream impacts. The information in this blog post is for educational purposes only. It is not legal or tax advice.

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Employment Flexible Spending Account Flexible Spending Education 52

WEX Inc.

SEPTEMBER 18, 2024

For example, do you have any new dependents who have healthcare needs and could be covered by a pre-tax benefits plan? Use available tools and resources to learn more about pre-tax benefits and to plan for the year ahead. Consider any major life changes you and your family have experienced in the previous year.

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

HR Lineup

MAY 11, 2023

Employers can choose from a range of pre-tax benefits, including health insurance, dental insurance, vision insurance, and other types of benefits. PeopleKeep also provides flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), and health savings accounts (HSAs) to help employees save money on healthcare expenses.

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WEX Inc.

SEPTEMBER 24, 2024

HSAs and FSAs: Service dog expenses Health savings accounts (HSAs) and flexible spending accounts (FSAs) may provide an additional avenue for covering the cost of a service dog. The information in this blog post is for educational purposes only. It is not legal or tax advice.

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Recruitment Flexible Spending Account Health Savings Account Medical 52

WEX Inc.

SEPTEMBER 4, 2024

HSAs and FSAs as an option Health savings accounts (HSAs) and flexible spending accounts (FSAs) are among the pre-tax accounts you can contribute funds to and save money on healthcare costs. However, your eligibility for either account can be influenced by the health plan you choose.

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Flimp Communications

OCTOBER 30, 2024

Health savings accounts (HSAs) are amazing tools for addressing the triple pillars of modern anxiety: money, health, and uncertainty about the future. Their tax advantages and investment potential can help employees reduce healthcare costs, save for retirement, and maximize tax refunds. Invest, Invest, Invest!

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WEX Inc.

NOVEMBER 27, 2024

Pre-tax benefits savings Premiums aren’t the only way you can save on healthcare costs. Pre-tax employee benefits plans, such as HSAs and flexible spending accounts (FSAs) , let you save money by putting aside pre-tax dollars to pay for eligible medical, dental, vision and other expenses.

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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)? 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.

Medical 98

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WEX Inc.

OCTOBER 9, 2024

Health savings accounts (HSAs) and flexible spending accounts (FSAs) are often misunderstood, despite their significant financial advantages. It’s time to clarify the ins and outs of these tax-saving healthcare accounts and answer some HSA and FSA FAQs. The tax savings are significant.

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Flexible Spending Account Health Savings Account Flexible Spending Taxes 95

WEX Inc.

MAY 4, 2023

The IRS requires your flexible spending account (FSA) participants to submit documentation to prove their purchase was an eligible expense. Because of an FSA’s tax advantages, the IRS requires employers and employees to prove that FSA funds are only being spent on eligible expenses. It is not legal or tax advice.

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Flexible Spending Account Flexible Spending Taxes Medical 98

WEX Inc.

JULY 9, 2023

A dependent care flexible spending account lets participants set aside pre-tax dollars to help pay for dependent care. Contributing to this benefit reduces taxable income and spreads the benefits of pre-tax dollars throughout the year, helping you save 30 percent or more on your dependent care costs.

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WEX Inc.

OCTOBER 4, 2023

Participating in a health savings account (HSA) or flexible spending account (FSA) is a great way to save money. Health savings account An HSA is an individually owned benefits plan funded by you or your employer that lets you save on purchases of eligible expenses.

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WEX Inc.

AUGUST 10, 2023

You might be surprised to learn that your health savings account (HSA) and medical flexible spending account (FSA) can help you save on purchases of a variety of back-to-school, expenses, including: Thermometers. The information in this blog post is for educational purposes only. OTC medicines.

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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

AUGUST 29, 2023

And did you know that a variety of fertility and infertility treatments are eligible for health savings account (HSA) and medical flexible spending account (FSA) funds? The information in this blog post is for educational purposes only. It is not legal or tax advice. What are fertility benefits?

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

AUGUST 7, 2023

Sunscreen can cost as much as $40 a bottle, but did you know you can actually use your health savings account (HSA) or medical flexible spending account (FSA) funds on many SPF-related expenses? Sunscreen There’s a good chance you’re planning on spending some time in the sun over the next few months.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

SEPTEMBER 21, 2023

However, for participants of health savings accounts (HSAs) or medical flexible spending accounts (FSAs) , there are ways to alleviate the financial burden associated with vision-related costs. The information in this blog post is for educational purposes only. It is not legal or tax advice.

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Health Flexible Spending Account Health Savings Account Flexible Spending 98

WEX Inc.

MAY 31, 2023

For those who have health savings accounts (HSAs) or medical flexible spending accounts (FSAs) , there are opportunities to save money on these expenses. The information in this blog post is for educational purposes only. It is not legal or tax advice. Check out FSA Store!

Medical 98

Medical Flexible Spending Account Health Savings Account Flexible Spending 98

WEX Inc.

SEPTEMBER 7, 2023

Flexible spending accounts (FSAs) are a powerful tool for individuals and employers to save money on healthcare and dependent care expenses. What you can do: Education is key. Illustrate how pre-tax contributions lead to significant savings over time, effectively reducing the impact on take-home pay. Download now!

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Flexible Spending Account Take Home Pay Flexible Spending Healthcare 98

WEX Inc.

FEBRUARY 23, 2023

In fact, staying on top of your health savings account (HSA) , flexible spending account (FSA) , or any other plan you signed up for throughout the year can pay off for you. Add dependents Your HSA or FSA may cover your dependents’ costs if the dependents are claimed on your tax return. How do you do this?

Flexible Spending Account 98

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

WEX Inc.

MAY 24, 2023

How can your benefits messaging cater to your employees through benefits education? It’s about what a health savings account or a flexible spending account can do for them." The information in this blog post is for educational purposes only. It is not legal or tax advice.

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Flexible Spending Account Health Savings Account Benefit Providers Flexible Spending 97

InterWest Insurance Services

JULY 4, 2024

It emphasizes that employees often choose health plans that will end up costing them more than it should in terms of out-of-pocket expenses or premiums, and that employers should help by providing assistance and education. During your educational sessions, provide scenarios of how choosing the wrong plan can financially burden an enrollee.

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Voluntary Benefits Flexible Spending Account Deductible Deductions 97

WEX Inc.

AUGUST 14, 2023

A flexible spending account (FSA) carryover is one way you can provide flexibility to employees who participate in these accounts. The information in this blog post is for educational purposes only. It is not legal, financial, or tax advice. We break down FSA carryovers below.

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Flexible Spending Account IT Flexible Spending Taxes 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. FSAs are an employer-owned account , and the IRS sets limits on annual FSA contributions.

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HR Digest

MAY 21, 2023

Payroll taxes 2. Health care flexible spending accounts 3. Offers like a 401(k) or 403(b) can work as this means that people can use some of their money before they pay taxes on it, and invest in the future. Education Assistance Education assistance helps you learn more. Overtime pay 3.

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WEX Inc.

SEPTEMBER 14, 2023

For example, do you have any new dependents who have healthcare needs and could be covered by a pre-tax benefits plan? Use available tools and resources to learn more about pre-tax benefits and to plan for the year ahead. Consider any major life changes you and your family have experienced in the previous year.

401(k) 98

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

WEX Inc.

MARCH 20, 2023

When things change at lightspeed, it is imperative to have team members who understand what you need to do to stay in compliance, but also develop a detailed plan to execute, predict and account for downstream impacts. The information in this blog post is for educational purposes only. It is not legal or tax advice.

Employment 98

Employment Flexible Spending Account Flexible Spending Education 98

WEX Inc.

JANUARY 3, 2023

An HSA comes with three key tax-free perks: Contributions are tax-free, earnings are tax-free, and withdrawals for eligible expenses are tax-free. Why adding an FSA makes an HSA even better Did you know that you can participate in both an HSA and a flexible spending account (FSA)? The post Happy 2023!

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Education Flexible Spending Account Health Savings Account Flexible Spending 52