InterWest Insurance Services

FEBRUARY 20, 2024

With more than half of all private sector employees enrolled in high-deductible health plans , it’s important that employers have in place certain protocols to ensure that they are a success. HSAs are tax-advantaged accounts that allow enrollees to save up to pay qualified medical expenses.

Deductible 98

Deductible Deductions Out of Pocket Cost Health Savings Account 98

Benefit Resource Inc.

APRIL 1, 2020

This includes employees’ work benefits, particularly pre-tax accounts. For employees with an HSA, Dependent Care FSA, and/or commuter plan, there may be the opportunity to make changes to their accounts. Here are the main updates employees should know about. Especially compared to other pre-tax accounts, like FSAs.

Taxes 75

Taxes Employee Enrollments Medical Employment 75

WEX Inc.

JULY 20, 2023

More dental and vision Among employers with benefits administration through WEX , 68% of eligible employees enrolled in vision and 77% of eligible employees enrolled in dental. However, not all employees are offered these benefits. It is not legal, financial, or tax advice.

Deductible 75

Deductible Deductions Flexible Spending Account Health Savings Account 75

InterWest Insurance Services

JANUARY 17, 2023

If you plan to discontinue coverage for employees who are turning 65, you should communicate with them well ahead of the time they need to sign up for Medicare. How it works: Let’s say your employee has foot surgery: Medicare pays first up to the limits of its coverage. Discontinuing group health coverage.

Health Insurance 97

Health Insurance Insurance Health Savings Account Hospitality 97

InterWest Insurance Services

NOVEMBER 10, 2022

One of the most difficult aspects of annual open enrollment is reaching workers who are disengaged from the process and never bother signing up for your group health plan and other benefits they could take advantage of. Childbirth is expensive and newborns require numerous doctor’s visits and vaccinations in their first year and beyond.

401(k) 97

401(k) Health Savings Account Health Insurance Insurance 97

Fringe Benefit Analysts

AUGUST 15, 2022

Employers who do not offer coverage can have a more difficult time attracting recruits and retaining employees. Employers select a plan, then offer it to their employee who may decide to participate or not. Businesses must also meet certain criteria to be able to offer group health insurance to their employees. How To Enroll.

Insurance 52

Insurance Health Insurance IT Deductible 52

InterWest Insurance Services

DECEMBER 9, 2021

As we enter 2022, there are a number of changes on the horizon that plan sponsors need to be aware of as they will affect group health plans as well as employees enrolled in those plans. Some of the changes concern temporary rules that were implemented during the COVID-19 pandemic. That’s a change from the prior threshold of 250.

Health Insurance 98

Health Insurance Insurance Insurance Carriers Deductible 98

InterWest Insurance Services

JANUARY 18, 2024

With more than half of all private sector employees enrolled in high-deductible health plans , it’s important that employers have in place certain protocols to ensure that they are a success. HSAs are tax-advantaged accounts that allow enrollees to save up to pay qualified medical expenses.

Out of Pocket Cost 83

Out of Pocket Cost Deductible Deductions Voluntary Benefits 83

Benefit Resource Inc.

OCTOBER 7, 2021

A solid employee benefits package is crucial for recruiting and retention and has become even more important in the current market — Open Enrollment plays a big part in that. Check out our Open Enrollment Checklist, and make sure you’re still on target for a successful start to your new plan year: Laying the Foundation.

Employee Enrollments 74

Employee Enrollments Benefits Package Taxes Education 74

Business Management Daily

NOVEMBER 15, 2021

Flexible Spending Accounts allow employees to set aside pre-tax dollars from their paycheck to use for medical or dependent care expenses. These funds are placed in an FSA account that employees can use to pay for eligible expenses. The maximum that an employee may contribute to a healthcare FSA is $2,750. Healthcare FSA.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Medical Healthcare 98

Business Management Daily

SEPTEMBER 3, 2021

Most HRIS systems deal with tracking time and labor management (including PTO and attendance), payroll /taxes, benefits administration (and selections), employee demographic information, applicant tracking, onboarding, performance management , and more. Your employees’ expenses vary greatly depending on where they are located.

Payroll 90

Payroll Work From Home PTO Software 90

Business Management Daily

SEPTEMBER 9, 2021

FSAs are primarily funded by employees through pretax deductions, although employers may make contributions. Tax advantage: Employees’ and employers’ contributions are excluded from employees’ wages and aren’t subject to income or FICA taxes. Eligibility: FSAs are generally available only to current employees.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Employment Flexible Spending 52

Benefit Resource Inc.

JUNE 1, 2023

Employees can use two tax-advantaged accounts to cover many primary eligible expenses. If employees enroll in a Limited FSA they have the option to forgo enrolling in vision or dental insurance, avoiding the need to pay those premiums. You also still receive a tax write off.

Flexible Spending Account 52

Flexible Spending Account Healthcare Health Savings Account Deductible 52

Abel HR

MARCH 5, 2020

In an effort to make 401(K) plans more attainable for small business owners, the new legislation offers businesses with up to 100 employees a tax credit equating to $250 for each non-highly compensated employee eligible for plan participation or $5,000, whichever is less. This bill has you covered!

401(k) 52

401(k) Taxes Retirement Plan Employee Enrollments 52

Higginbotham

SEPTEMBER 16, 2024

By opting for a higher deductible, employees can secure lower monthly premiums. Let’s say an employee enrolls in a high-deductible health plan providing self-only coverage with an annual deductible of $2,000. Employers, employees or both can contribute funds to an HSA in the same year.

Deductible 52

Deductible Deductions Health Savings Account Health Insurance 52

Benefit Resource Inc.

AUGUST 13, 2019

The term “high deductible health plan” has often carried with it a negative connotation for employees. According to a recent article from SHRM covering research from the Employees Benefit Research Institute (EBRI), enrollment in an HDHP promotes more conscious health care purchase decisions. Like this blog?

Deductible 45

Deductible Deductions Health Savings Account Employee Enrollments 45

Higginbotham

JULY 12, 2022

In the simplest terms, a medical expense reimbursement plan refunds employees for covered medical costs. Both the employee and the employer may contribute, but funds expire if they are not used within a certain period of time. The Tax Benefits of Health Reimbursement Arrangements. Manage enrollment.

Out of Pocket Cost 52

Out of Pocket Cost Flexible Spending Account Medical Deductible 52

Business Management Daily

NOVEMBER 30, 2021

Flexible spending accounts (FSAs) are employer-established accounts that allow you to put aside pre-tax dollars from your paycheck into a special account to be used for eligible health or dependent care expenses. The patient does not have to be the employee. Health care provider’s name. Dependent care FSA receipt requirements.

Retail 52

Retail Healthcare Medical Flexible Spending Account 52

Benefit Resource Inc.

JUNE 11, 2020

Only available to individuals enrolled in a tax free parking account with BRI. ** Only available to employees enrolled in a tax free mass transit or parking account with BRI. For those who are commuting after COVID-19, this may pose a problem. So what can someone commuting after COVID-19 do?

Employee Enrollments 40

Employee Enrollments Taxes Employment IT 40

Corporate Synergies

AUGUST 6, 2018

High deductible health plans (HDHPs) are on the rise as a growing number of employers turn to consumer-directed health plans to try to curb costs—the portion of employees enrolled in HDHPs rose from 26.3% In addition, employers can contribute tax-free dollars if they choose—all of which is employee money. LEARN MORE.

401(k) 40

401(k) Health Savings Account Retirement Plan Deductible 40

Hppy

AUGUST 19, 2016

From small scale managers to established entrepreneurs, everyone is looking for better business prospects and educating employees in the workspace is an effective and time-saving technique to achieve it. Tax benefits and other perks. Offer subsidies in fees, or tuition incentives to encourage employees. How to go about it?

Education 47

Education Employee Enrollments Finance Taxes 47

Winston Benefits

MAY 15, 2018

However, the benefits enrollment process can be tedious for HR, and both tedious and confusing for employees. Benefits enrollment technology can streamline this process, making it more efficient and less cumbersome for everyone. What do you need to know about benefits enrollment technology to make the right choice?

Technology 45

Technology Employee Enrollments Deductible Deductions 45

PeopleStrategy

NOVEMBER 12, 2019

Throw open enrollment into the mix and your HR department has its work cut out from now until year-end (and beyond). Here are a few areas you want to be sure to include on your checklist: Addressing open enrollment and benefit plan participation. I-9s and employee authorization. According to attorney Robert Y.

Overtime 56

Overtime Payroll Employee Enrollments Deductible 56

Benefit Resource Inc.

NOVEMBER 22, 2019

Under the Sustainable DC Act of 2014, employers with more than 20 employees (including full and part-time employees) will be required to provide one of three commuter benefit options, including: Employee-paid pre-tax benefit. Explain how to enroll. The time has arrived. For what you say? Why penalties of course!

Transportation 40

Transportation Employee Enrollments Benefits Package Utilities 40

HR Professionals Magazine

MAY 4, 2023

By Kisha Moliere It is common to think of benefits administration technology (ben admin) platforms as a tool that only facilitates employee benefits enrollment and transfers benefits eligibility data between carrier and payroll systems. Be mindful that not all decision support tools are created equal.

Technology 52

Technology Utilities Payroll Deductible 52

Proskauer's Employee Benefits & Executive Compensa

JANUARY 6, 2022

This relief applies to ALEs, insurers and multiemployer plans as follows: For ALEs : applies to the requirement to provide Forms 1095-C (and/or Forms 1095-B if the coverage is self-insured), but only with respect to non-full-time employees and non-employees enrolled in the self-insured plan.

Electronics 52

Electronics Insurance Employee Enrollments Taxes 52

Business Management Daily

SEPTEMBER 27, 2019

An ounce of prevention may be worth a pound of cure, but up until this point, high-deductible health plans have been boxed in regarding tax-free reimbursements for most preventive care services or items. Reason: With certain exceptions, HDHPs can’t start reimbursing employees until they meet those high deductibles.

Health Savings Account 40

Health Savings Account Deductible Deductions Flexible Spending Account 40

Benefit Resource Inc.

DECEMBER 10, 2021

However, it highlights the need to use multiple communication channels – especially when it comes to Open Enrollment. However, it highlights the need to use multiple communication channels – especially when it comes to Open Enrollment. Recruitment -> Employee Retention. Likely, it means having to learn to do more with less.

Payroll 40

Payroll Employee Enrollments Deductible Deductions 40

Business Management Daily

AUGUST 30, 2024

The day care provider has age cutoffs and won’t take infants, and employees don’t want to split up their kids at different providers. Employees enroll their kids in a new, state-of-the-art day care center. Employees’ kids are enrolled at a temporary day care center and a place opens up at their preferred center.

Deductible 52

Deductible Deductions Employee Enrollments Medical 52