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Employeebenefits management has become increasingly complex in recent years, with professionals needing to navigate health plans, retirement packages, wellness programs, and various compliance regulations. Below are the top 10 employeebenefits certifications for professionals in 2024.
If you’ve never been asked if you would like to participate in an employeebenefitsaccount 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.
When it comes to 2025 employeebenefits trends , many companies are seeking innovative solutions to meet the changing needs of their workforce. Shaped by changing work environments, economic pressures, and technological advancements, the following trends are emerging as essential components of a competitive benefits package.
The Internal Revenue Service (IRS) recently announced (see Revenue Procedure 2024-25) cost-of-living adjustments to the applicable dollar limits for healthsavingsaccounts (HSAs), high-deductible health plans (HDHPs) and excepted benefithealth reimbursement arrangements (HRAs) for 2025.
We wanted to share a few tips and reminders about the healthsavingsaccount (HSA) information youll need for your tax return. Prepare to report distributions and contributions using tax Form 8889 Form 8889 is used to report any distributions from and contributions to your healthsavingsaccount.
A healthsavingsaccount (HSA) or flexible spending account (FSA) will let you pay your drug copays with pre-tax dollars. Health Insurance Explainer Email Template #3: HSA Contributions The tax-slashing benefits of a healthsavingsaccount (HSA) might be the most misunderstood concept in the benefits landscape.
Recently, the Internal Revenue Service (IRS) announced (See Revenue Procedure 2023-23) cost-of-living adjustments to the applicable dollar limits for healthsavingsaccounts (HSAs), high-deductible health plans (HDHPs) and excepted benefithealth reimbursement arrangements (HRAs) for 2024.
Recently, the Internal Revenue Service (IRS) announced (See Revenue Procedure 2022-24) cost-of-living adjustments to the applicable dollar limits for healthsavingsaccounts (HSAs), high-deductible health plans (HDHPs) and excepted benefithealth reimbursement arrangements (HRAs) for 2023.
Although the end date of the NE was subsequently advanced to April 10, 2023, by Congressional resolution, the US Departments of Labor, Health and Human […] The post Preparing for the End of the COVID-19 Emergency: High-Deductible Health Plans and HealthSavingsAccounts appeared first on EMPLOYEEBENEFITS BLOG.
If you want your business to attract top talent in today’s job market and retain employees for the long term, one of the most powerful tools at your company’s disposal is competitive employeebenefits. Let’s explore what employees expect so that you can stand out from your industry peers and recruit and keep the best.
As the year winds down, employers have a crucial opportunity to fine-tune their employeebenefits strategy. Open enrollment is wrapping up, and now is the time to ensure your benefits package is ready to meet employee needs and support your 2025 business goals. Let’s make it work for you.
As an employer, providing a robust employeebenefits package is only half the battle. Educating on the value of their benefits and how best to use them is equally important. One of the questions we asked: What benefit would you like to learn more about? We recently surveyed nearly 60,000 of our participants.
USI is a leading insurance brokerage and consulting firm that specializes in employeebenefits. The company offers a wide range of benefits solutions to help organizations of all sizes attract, retain, and engage their employees. The post USI EmployeeBenefits appeared first on HR Lineup.
Use this data to identify gaps in communication or areas where employees may need additional education. For example, if healthsavingsaccount (HSA) participation was lower than expected, you might plan targeted campaigns to explain their advantages. By linking to these products, WEX is not endorsing these products.
One choice that sticks out in the ever-changing world of employeebenefits for both employers and employees is a HealthSavingsAccount (HSA). Leveraging HSA funds can be a game-changer for organizations looking to improve benefits packages and encourage financial wellness among employees.
Top 10 employeebenefits for 2021. HR trends forecast the most desired employeebenefits for 2021 like financial wellness programs and flexible work arrangements. It’s time for employers to start planning their employeebenefits packages for 2021. Top 10 EmployeeBenefits for 2021. #1
Between the increased prioritization of health due to the COVID-19 pandemic and the continued rising cost of healthcare, this comes as no surprise. The post Now is the time for employers to boost healthsavingsaccount participation appeared first on Financial insights for individuals and businesses.
Reconsidering your employeebenefits priorities. As your employees settle into their post-pandemic workflow, you’re probably noticing that they don’t want business-as-usual. After a year of unprecedented medical and personal experiences, employees can easily detect holes in their benefits plans. Adoption Benefits.
However, with clear goal-setting, you can increase employee satisfaction and loyalty while strengthening your company’s appeal to new candidates. And check out our Benefits Buzz podcast episode below with Shannon Hernandez, manager of client services at WEX, below. Check out our examples of S.M.A.R.T.
The Consolidated Appropriations Act (CAA), 2023 (Public Law 117-328), extended certain key virtual care flexibilities instituted during the COVID-19 public health emergency through December 31, 2024. This includes the telehealth safe harbor for healthsavingsaccount-eligible high deductible health plans.
The Social Security Administration […] The post IRS Announces 2024 EmployeeBenefit Plan Limits appeared first on EMPLOYEEBENEFITS BLOG. Most of the dollar limits that are subject to adjustment for cost-of-living increases will increase for 2024.
On November 9, 2023, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the applicable dollar limits for certain health and welfare plan benefits, including those for health flexible spending arrangements and commuter benefit plans, among other important updates.
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. What is a dependent care FSA?
The table below compares the applicable dollar limits for certain employeebenefit programs and the Social Security wage base for 2022 […]. The post IRS Announces 2023 EmployeeBenefit Plan Limits appeared first on EMPLOYEEBENEFITS BLOG.
And just because you have an entire plan year ahead doesnt mean you should wait until November or December to put time and energy into your employeebenefits. In fact, staying on top of your healthsavingsaccount (HSA) , flexible spending account (FSA) , or any other plan you signed up for throughout the year can pay off for you.
Now more than ever, employeebenefit packages are considered important for the unwieldy terrain of today's job market. Only those organizations that understand how to use this most powerful approach to their advantage by including comprehensive benefits in kind do well in the market for acquiring and retaining key brainpower.
At the end of this article, we’ll explain how a professional employer organization (PEO) can help you select, negotiate, and administer best possible benefits for your company. 16+ types of employeebenefits you should consider. HealthSavingsAccount (HSA). Documenting employeebenefit elections.
June 18, 2024 12:00 PM – 1:00 PM JOIN US: InterWest is a proud sponsor of Summit EmployeeBenefits Online education. SESSION DETAILS: As more and more employers offer at least one HDHP option, employers play a role in educating their employees about HSAs.
AI allows HR teams to analyze employee data and deliver personalized recommendations that align with individual preferences and needs. Improved communication: AI-powered chatbots and virtual assistants can guide employees through benefits enrollment , answer questions 24/7, and provide real-time assistance during decision-making moments.
Employeebenefits success is all about communication. A third of compensation costs go towards employeebenefits and some employees would forgo a raise for better work-life balance or better healthcare benefits, but almost half of employees don’t even understand the benefits their employer already offers.
Health reimbursement arrangements (HRAs) and healthsavingsaccounts (HSAs) are great tools for you and your employees to save money, and for your employees to prepare for potential medical expenses. For employers, HRAs or HSAs come with perks, including tax savings and increased employee retention.
Opportunities to offer more flexible and personalized healthbenefits have grown a lot in recent years. With new tax-free vehicles emerging, including account-based health plans (ABHPs), small employers now have multiple ways to increase employees’ benefits.
How much should I contribute to my healthsavingsaccount (HSA) each month? 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 healthsavingsaccount (HSA). What is an HSA?
Source: MA Health Connector) This frees up an average of $2200 per year that can go towards a healthsavingsaccount or maybe pay down one’s credit cards. Employers are forcing employees to pay more for health insurance leaving less money to pay for actual health care.
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?
Regulations aside, employeebenefits management hasn’t changed much in several decades, so it’s notable that employers are beginning to use traditional marketing tactics to make sure their benefits efforts hit the mark for their employees. This group is typically 26- to 34-years old and savvier about benefits.
We wanted to share a few tips and reminders about the healthsavingsaccount (HSA) information you’ll need for your tax return. WEX's HSA participants can find the tax forms related to their HSA under the “Message Center” tab of their online account. The season for filing taxes is upon us once again.
Of course, not all medical expenses are covered by an individual’s health insurance plan. A healthsavingsaccount is an excellent employeebenefit to accompany a high-deductible health plan, and account-holders should be encouraged to take advantage of these tax-free funds.
Participating in a healthsavingsaccount (HSA) or flexible spending account (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.
Most businesses offer employeebenefits in addition to regular wages. Common employeebenefits can range from different insurance options to types of retirement plans. Some employees have the option of opening an HSA. What is an HSA? What is an HSA?
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