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Administered by the International Foundation of Employee Benefit Plans (IFEBP) and Dalhousie University, this program provides a comprehensive education on employee benefits, retirement plans, and health benefits. Flexible learning format with self-paced courses.
And did you know that a variety of fertility and infertility treatments are eligible for healthsavingsaccount (HSA) and medical flexiblespendingaccount (FSA) funds? The information in this blog post is for educational purposes only. What are fertility benefits? Here are a few to-dos for you.
Participating in a healthsavingsaccount (HSA) or flexiblespendingaccount (FSA) is a great way to save money. Healthsavingsaccount An HSA is an individually owned benefits plan funded by you or your employer that lets you save on purchases of eligible expenses.
If you’ve never been asked if you would like to participate in an employee benefits account before, you might be asking yourself, “What are all these acronyms?” Click here for the first blog post in our series on choosing a health plan for the first time. Funds you or your employer contribute to your HSA can help with this.
Visual health is a vital component of overall well-being, and unexpected eye-related expenses can put a strain on your finances. However, for participants of healthsavingsaccounts (HSAs) or medical flexiblespendingaccounts (FSAs) , there are ways to alleviate the financial burden associated with vision-related costs.
Fortunately, healthsavingsaccounts (HSAs) and flexiblespendingaccounts (FSAs) cover many common winter eligible expenses you might turn to this time of year! The information in this blog post is for educational purposes only. Shop hundreds of eligible expenses at FSA Store!
7 basic rules of an HSA you need to know Maximize the potential of your healthsavingsaccount (HSA) by mastering these 7 essential rules. Discover how to make smarter contributions, save on healthcare costs, and plan for a healthier financial future. The information in this blog post is for educational purposes only.
How past elections shaped policy From the creation of healthsavingsaccounts (HSAs) under the Medicare Modernization Act of 2003 to the Affordable Care Act (ACA) under President Obama, election cycles have repeatedly sparked discussions about healthcare reform. It is not legal or tax advice.
For example, some employers are adopting health plans that cover, or at least provide some reimbursement for, reproductive health. Add healthsavingsaccounts and flexiblespendingaccounts. Provide coverage for mental health care services. Provide educational materials.
Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans. If you rarely go to the doctor or would like to enroll in a healthsavingsaccount (HSA) , an HSA-eligible health plan may be right for you!
In fact, staying on top of your healthsavingsaccount (HSA) , flexiblespendingaccount (FSA) , or any other plan you signed up for throughout the year can pay off for you. Right after you log in to your online account or the benefits mobile app, youll see a Tasks menu. It is not legal or tax advice.
Today, to commemorate National HealthSavingsAccount Awareness Day (HSA Day) celebrated annually on October 15, WEX is highlighting available resources to help employers and employees better understand the impressive value of HSAs for both wellbeing and wallets. The information in this post is for educational purposes only.
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.
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. Learn more by subscribing to our blog. Simply hit the Subscribe button above or submit your email address in the form below. It is not legal or tax advice.
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 flexiblespendingaccounts (FSAs), health reimbursement arrangements (HRAs), and healthsavingsaccounts (HSAs) to help employees save money on healthcare expenses.
Educate About Tax-Advantaged HSAs (And Similar Benefits) As you know, healthsavingsaccounts (HSAs) are triple tax-advantaged. However, with a bit of educational outreach, you can help your companys employees see that HSAs can reduce their tax bills and medical costs while helping them save for retirement.
Participating in a healthsavingsaccount (HSA) or flexiblespendingaccount (FSA) is a great way to save money. Healthsavingsaccount An HSA is an individually owned benefits plan funded by you or your employer that lets you save on purchases of eligible expenses.
HSAs and FSAs: Service dog expenses Healthsavingsaccounts (HSAs) and flexiblespendingaccounts (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. Peace of mind knowing that your pet is covered for life.
You must be enrolled in an HDHP to be eligible to participate in a healthsavingsaccount (HSA). PPOs are a common type of traditional health plan. Traditional Health Plan Calculator , which lets you input your annual doctor visit and prescription expenses to see the plan that’s right for you. What’s a PPO?
Sunscreen can cost as much as $40 a bottle, but did you know you can actually use your healthsavingsaccount (HSA) or medical flexiblespendingaccount (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.
You might be surprised to learn that your healthsavingsaccount (HSA) and medical flexiblespendingaccount (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.
And did you know that a variety of fertility and infertility treatments are eligible for healthsavingsaccount (HSA) and medical flexiblespendingaccount (FSA) funds? The information in this blog post is for educational purposes only. What are fertility benefits? Here are a few to-dos for you.
HSAs and FSAs as an option Healthsavingsaccounts (HSAs) and flexiblespendingaccounts (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.
Visual health is a vital component of overall well-being, and unexpected eye-related expenses can put a strain on your finances. However, for participants of healthsavingsaccounts (HSAs) or medical flexiblespendingaccounts (FSAs) , there are ways to alleviate the financial burden associated with vision-related costs.
For those who have healthsavingsaccounts (HSAs) or medical flexiblespendingaccounts (FSAs) , there are opportunities to save money on these expenses. The information in this blog post is for educational purposes only. Can I use my HSA or medical FSA to pay for dental expenses?
Healthsavingsaccounts (HSAs) and flexiblespendingaccounts (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. It is not legal or tax advice.
Flexiblespendingaccounts (FSA) Flexiblespendingaccounts (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.
In fact, staying on top of your healthsavingsaccount (HSA) , flexiblespendingaccount (FSA) , or any other plan you signed up for throughout the year can pay off for you. Right after you log in to your online account or the benefits mobile app, you’ll see a “Tasks” menu.
Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans. If you rarely go to the doctor or would like to enroll in a healthsavingsaccount (HSA) , an HSA-eligible health plan may be right for you!
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. The average employer covers 78% of their employees’ health insurance premiums, up from 74% in 2022.
How can your benefits messaging cater to your employees through benefits education? It’s about what a healthsavingsaccount or a flexiblespendingaccount can do for them." The information in this blog post is for educational purposes only. It is not legal or tax advice.
Flexiblespendingaccounts (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. The information in this blog post is for educational purposes only. Want to learn more about how you can support your employees?
Healthsavingsaccounts (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.
Fortunately, your healthsavingsaccount (HSA) is an employee-owned account, so it stays with you, even when you switch employers. Why adding an FSA makes an HSA even better Did you know that you can participate in both an HSA and a flexiblespendingaccount (FSA)? Learn more about the limits here.
It’s important not to lose sight of that when developing content and communicating that you offer a healthsavingsaccount (HSA) , flexiblespendingaccount (FSA) , or any other benefits. Plus, it allowed for more flexibility, personalization, and feedback. Check out our infographic below.
A flexiblespendingaccount (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. The information in this blog post is for educational purposes only.
Flexible work options. Employees still want traditional options such as retirement plans, educational assistance, and health insurance. Accident and Health Benefits . HealthSavingsAccounts. FlexibleSpendingAccounts: funded by salary reduction. Consider Cafeteria Plan options
Smaller employers may face challenges in providing these options, although participants have said they are interested in these health plan choices. Participants are eligible for an HSA only if they’re enrolled in an HSA-eligible health plan, so the choice between these two accounts is related to providing choice in health plans.
HealthSavingsAccounts (HSAs) and FlexibleSpendingAccounts (FSAs) are two of the most effective instruments for optimizing healthsavings and financial flexibility for both employers and employees among the different components of a comprehensive benefits strategy.
HSAs and FSAs as an option Healthsavingsaccounts (HSAs) and flexiblespendingaccounts (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.
This can look like: Using well-known carriers for the health insurance options you sponsor Contributing to a healthsavingsaccount or flexiblespendingaccount for employees Offering an employee assistance program (EAP) Matching a percentage of employee retirement plan contributions.
The Role of Employee Benefits Employee benefits, such as HealthSavingsAccounts (HSAs), FlexibleSpendingAccounts (FSAs), Commuter Plans, and Specialty Accounts emerge as valuable tools in the toolbox of employers seeking to support their workforce during times of inflation.
Employees can talk to trained professional financial counselors and educate themselves about everything from investing to co-signing loans to buying their first homes with access to a library of over 700 articles, videos and calculators. 4 Paid Time Off.
Together, these combined announcements by the IRS detail 2023 adjusted limits to the amounts employees can tuck away pretax into FlexibleSpendingAccounts (FSAs), HealthSavingsAccounts (HSAs), transportation benefits, and retirement plans such as 401(k)s. Educating Employees On The Changes.
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