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

HR Digest

MARCH 28, 2023

It allows employees to save a portion of their pre-tax income for retirement. Here’s how it works: When an employee enrolls in a 401(k) plan, they choose a percentage of their salary to contribute to the plan, up to a certain limit set by the Internal Revenue Service (IRS). How does 401(k) work?

401(k) 64

401(k) roth 401(k) Retirement Plan IT 64

Flimp Communications

OCTOBER 30, 2024

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.

Deductions 52

Deductions Deductible Taxes Flexible Spending Account 52

InterWest Insurance Services

JANUARY 17, 2023

If your firm has fewer than 20 employees, workers who are 65 or older can no longer contribute to an HSA as they are not compatible with Medicare. Employees who are 65 or older should stop making contributions to their HSA six months before they enroll in Medicare or before they apply for Social Security benefits if they are still working.

Health Insurance 81

Health Insurance Insurance Health Savings Account Hospitality 81

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 86

Health Insurance Insurance Insurance Carriers Deductions 86

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. These accounts can be kept for life and transferred to new employers.

401(k) 79

401(k) Health Savings Account Health Insurance Insurance 79

Benefit Resource Inc.

OCTOBER 7, 2021

Similarly, when it comes to Open Enrollment, there are two big questions to ask: What method or platform are your employees using to enroll? The way your employees enroll will influence how that information is sent to your TPA. How are you sending that information to your Third Party Administrator (TPA)?

Employee Enrollments 74

Employee Enrollments Benefits Package Taxes Education 74

HR Digest

SEPTEMBER 12, 2024

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.

Education 52

Education Employee Enrollments Taxes Deductions 52

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.

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Flexible Spending Account Flexible Spending Medical Healthcare 98

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

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. They aim to seamlessly manage your backend people-related admin tasks.

Payroll 90

Payroll Work From Home PTO Software 90

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 Deductions 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.

Deductions 52

Deductions Deductible Health Savings Account Health Insurance 52

Benefit Resource Inc.

AUGUST 13, 2019

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. For example, 55% of employees enrolled in an HDHP checked whether their health plan would cover their care or medication.

Deductions 45

Deductions Deductible Health Savings Account Employee Enrollments 45

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 59

Out of Pocket Cost Deductions Deductible Voluntary Benefits 59

HR Lineup

FEBRUARY 9, 2023

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.

Flexible Spending Account 52

Flexible Spending Account Comprehensive Benefits Flexible Spending Retirement Plan 52

Business Management Daily

AUGUST 30, 2024

For dependent-care benefits, employees may change their pretax deductions if: The safety or quality of their current day care provider raises concerns. 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. A day care center raises it rates.

Deductions 52

Deductions Deductible Employee Enrollments Medical 52

Fringe Benefit Analysts

AUGUST 15, 2022

Businesses must also meet certain criteria to be able to offer group health insurance to their employees. They must have at least one full-time employee who works at least 30 hours per week, and they must pay payroll taxes. How To Enroll. The money that employers put toward group insurance premiums is tax-deductible.

Insurance 52

Insurance Health Insurance IT Deductions 52

Higginbotham

JULY 12, 2022

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. Employees generally do not pay taxes on health reimbursement arrangement funds used on eligible health care expenses. Manage enrollment.

Out of Pocket Cost 52

Out of Pocket Cost Flexible Spending Account Medical Deductions 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. The post What will commuting after COVID-19 look like? appeared first on BRI | Benefit Resource.

Employee Enrollments 40

Employee Enrollments Taxes Employment IT 40

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

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.

401(k) 40

401(k) Health Savings Account Retirement Plan Deductions 40

Hppy

AUGUST 19, 2016

Tax benefits and other perks. Companies are now sending their employees to complete their graduation and post-graduation degrees to increase their knowledge base and skills. Companies are now sending their employees to complete their graduation and post-graduation degrees to increase their knowledge base and skills.

Education 47

Education Employee Enrollments Finance Taxes 47

Winston Benefits

MAY 15, 2018

If you plan to use the platform to communicate with employees, make sure it can host communication materials and videos. Consider enrollment windows as well. Some platforms can integrate with payroll, talent-management platforms and other systems — and even simplify tax credit applications. Customization. Integration.

Technology 45

Technology Employee Enrollments Deductions Deductible 45

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. Employer-paid direct benefit. Employer-provided Transportation.

Transportation 40

Transportation Employee Enrollments Benefits Package Utilities 40

PeopleStrategy

NOVEMBER 12, 2019

Assessing open enrollment and employees’ overall involvement in benefit offerings should be a big part of any year-end HR checklist. Obviously you and the providers you select for your benefit offerings need to know how many employees enroll in each plan. Payroll compliance checks.

Overtime 56

Overtime Payroll Employee Enrollments Deductions 56

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

and so much more. That’s a LOT! Factoring in all of the time and effort it takes to handle all of the above, it makes sense for most organizations to partner with trusted third-party payroll and benefits administrators who can do the heavy lifting.

Payroll 40

Payroll Employee Enrollments Deductions Deductible 40

HR Professionals Magazine

MAY 4, 2023

A 2022 Harris poll found that 72% of employees said “they wish someone would tell them what the best health insurance for their unique situation is.” Be mindful that not all decision support tools are created equal.

Technology 52

Technology Utilities Payroll Deductions 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!

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401(k) Taxes Retirement Plan Employee Enrollments 52