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6 Key HSA Benefits to Communicate to Employees

Flimp Communications

Their tax advantages and investment potential can help employees reduce healthcare costs, save for retirement, and maximize tax refunds. And yet, that’s not how most employees understand them — if they understand them at all. In short, your employees are missing out, and so is your organization.

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Disney Education Program Cuts and Funding Caps Revealed

HR Digest

Reports suggest that by November 27, 2024, the Disney Aspire in-network schools will enforce a funding cap of $5,250 on the educational assistance provided to an individual employee. This cap is the same as the IRS limit on tax-free benefits for educational assistance programs and is commonly followed by many organizations.

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GoCo

HR Lineup

With GoCo, employees have access to a comprehensive benefits marketplace where they can compare plans and select the best options for their individual needs. The platform also offers a flexible spending account (FSA) option, allowing employees to set aside pre-tax dollars for eligible medical and dependent care expenses.

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4 HDHP trends you don't want to miss

WEX Inc.

PPO deductible Nearly two-thirds of large employers provide their employees with the choice of an HDHP and a traditional health plan , such as a preferred provider organization (PPO). Typically, an employee enrolled in a PPO will have higher premiums and a lower deductible than an employee enrolled in an HDHP.

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Ask an Expert: Is There a 30-Day Grace Period to Make Changes to Elections in Cafeteria Plans?

InterWest Insurance Services

.” Employees cannot change their minds and make changes to pre-tax cafeteria elections during the plan year, once benefits become effective — unless a special enrollment period as defined under IRC Section 125 applies , or the employer is correcting an administrative error. This is not correct.

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Spread the Word About Additional HSA Contributions

InterWest Insurance Services

If you have staff with health savings accounts, they still have until April 15 to make additional contributions to their accounts if they want to reduce their tax bills for last year. HSAs allow your employees to put away funds to pay for future medical expenses. Withdrawals to reimburse for these expenses are also not taxed.

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IRS Extends ACA Affordability to Other Tiers of Coverage

Griffin Benefits

For purposes of affordability, family members only include children who are tax dependents. Unless C is still considered a tax dependent of S1 & S2, C would not be considered an eligible family member for purposes of affordability. In the final example, on the bottom row, assume C is 24 rather than 14 years of age.

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