HR Digest

OCTOBER 4, 2024

These roles are often treated as temporary sources of employment and largely insufficient to sustain a family. Along with Hobby Lobby’s current wage hike, the shopping chain also provides other fiscal and medical benefits like a medical and dental plan, 401(k) with generous company match, a flexible spending plan, life insurance, etc.

401(k) 96

401(k) Retail Flexible Spending Life Insurance 96

InterWest Insurance Services

DECEMBER 5, 2024

Under notice 2024-71, flexible spending arrangements, health reimbursement accounts and health savings accounts will be required to reimburse for the cost of condoms. If you are a self-insured employer, you should ensure that your third party administrator is aware of the changes to coverages by HDHPs.

Out of Pocket Cost 97

Out of Pocket Cost Health Savings Account Deductions Deductible 97

Benefit Resource Inc.

NOVEMBER 8, 2023

If you’re wondering what the difference is between a Medical Flexible Spending Account (Medical FSA) and a Dependent Care Flexible Spending Account (DC FSA), you are not alone. Participants often do not understand that separate elections must be made for Medical and Dependent Care Accounts.

Medical 98

Medical Flexible Spending Account Flexible Spending Deductions 98

WEX Inc.

FEBRUARY 15, 2023

Did you recently elect to participate in a medical flexible spending account (FSA) ? If you’re a first-time medical FSA participant, you may not be familiar with FSA definitions and rules. What is a medical flexible spending account (FSA)? What is a medical flexible spending account (FSA)?

Medical 98

Medical Flexible Spending Account Flexible Spending Taxes 98

Higginbotham

MAY 2, 2025

The employer agrees to contribute a certain amount, and the employee makes contributions to cover the remainder. This gives eligible employees even greater flexibility for how they use their benefits. This gives eligible employees even greater flexibility for how they use their benefits.

Health Insurance 52

Health Insurance Insurance Flexible Spending Account Family and Medical Leave Act 52

InterWest Insurance Services

MARCH 4, 2022

As rising health insurance premiums and out-of-pocket costs for health care are burdening workers, more employers are looking for ways to help their staff put aside money for those expenses. Employers fund these accounts, which reimburse your staff for qualified medical expenses and, in some cases, insurance premiums.

Medical 98

Medical Health Insurance Out of Pocket Cost Deductions 98

WEX Inc.

DECEMBER 18, 2024

ACA reporting deadlines The Affordable Care Act (ACA) mandates that employers file reports annually with the IRS and distribute 1095-C forms to employees. Employers must communicate these deadlines clearly to employees. The IRS requires this testing for Section 125 plans, HRAs, FSAs, and self-insured medical plans.

Family and Medical Leave Act 52

Family and Medical Leave Act Flexible Spending Account Flexible Spending Insurance Carriers 52

Money Talk

MAY 18, 2022

Ramp Up Retirement Savings - Consider increasing retirement savings in a tax-deferred employer retirement savings plan (e.g., Plan for IRMAA- Older adults on Medicare should project their 2022 income as best they can, although it is difficult to know now what taxable mutual fund distributions or self-employment earnings might be.

Taxes 263

Taxes 401(k) Deductions Deductible 263

InterWest Insurance Services

OCTOBER 27, 2022

As health care costs continue rising and employees are being asked to shoulder more of the expense burden, you can help them by offering a tax-advantaged plan that allows them to save for medical expenses. The plans benefit employers, as well. How an FSA works. Employees should be careful to not put too much into the account.

Flexible Spending Account 97

Flexible Spending Account Employment Flexible Spending Deductions 97

HR Lineup

MAY 9, 2023

The platform is designed to help medical professionals and patients manage healthcare needs more efficiently, utilizing technology to improve the overall healthcare experience. Pazcare is dedicated to providing not only the best medical services to its clients but also to offering an exceptional employment package to its employees.

401(k) 130

401(k) Flexible Spending Account Health Insurance PTO 130

WEX Inc.

JANUARY 8, 2021

New bill offers new options to employers, improving benefits of FSA. Many employees took advantage of health and dependent care flexible spending accounts (FSAs) in 2020, only to see those funds languish unused as day cares closed and routine medical visits were put off to protect family members.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Employment Medical 98

WEX Inc.

JANUARY 2, 2025

The ACA code cheat sheet you need To simplify how employers communicate medical benefit details under the Affordable Care Act (ACA), the IRS introduced two specific ACA codes. 5 common FSA terms you should know Boost your understanding of flexible spending accounts (FSAs) by mastering these 5 common terms.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Flexible Spending Taxes 52

WEX Inc.

NOVEMBER 27, 2024

One emerging trend is employers offering their employees health plan options. Nearly two-thirds of large employers provide their employees with the choice of a high-deductible health plan (HDHP) and a traditional health plan, such as a preferred provider organization (PPO), during open enrollment. Does your employer offer options?

Deductions 52

Deductions Deductible Health Savings Account Flexible Spending Account 52

WEX Inc.

SEPTEMBER 18, 2024

Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans. This is your best opportunity to discuss available plans with your employer and learn what has changed from the previous year. Engage in opportunities to learn more about available plans.

401(k) 52

401(k) Health Savings Account Flexible Spending Account Healthcare 52

WEX Inc.

OCTOBER 4, 2023

Participating in a health savings account (HSA) or flexible spending account (FSA) is a great way to save money. Health savings account An HSA is an individually owned benefits plan funded by you or your employer that lets you save on purchases of eligible expenses. Your employer owns your FSA.

401(k) 98

401(k) Flexible Spending Account Health Savings Account Flexible Spending 98

PeopleKeep

AUGUST 16, 2021

If your employer offers a health reimbursement arrangement (HRA), then you have access to a unique health benefit that empowers you to make your own healthcare choices in ways a traditional group health insurance plan doesn’t.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Health Insurance Healthcare 98

Flimp Communications

FEBRUARY 25, 2025

For employers, the period following tax season is one of the best times to communicate with employees about improving their financial health, especially as it relates to taxes. There are no taxes on HSA contributions, growth, or use for qualified medical expenses. Money is on their minds.

Taxes 69

Taxes Deductions Deductible Flexible Spending Account 69

InterWest Insurance Services

MARCH 22, 2022

Employers fund these flexible benefit plans with funds that are deducted from their employees’ salaries on a pre-tax basis. Cafeteria plans are particularly good for participants who have regular expenses related to medical issues and childcare. Flexible spending account. Flexible spending accounts.

Flexible Spending Account 96

Flexible Spending Account 401(k) Flexible Spending Deductions 96

HR Lineup

JUNE 9, 2023

The health and wellness programs offered by PES Benefits encompass a wide range of services, including medical, dental, and vision coverage, as well as wellness initiatives such as fitness programs, preventive care, and mental health support. The post PES Benefits appeared first on HR Lineup.

Retirement Plan 130

Retirement Plan Flexible Spending Account Flexible Spending Life Insurance 130

WEX Inc.

JANUARY 8, 2025

In fact, staying on top of your health savings account (HSA) , flexible spending account (FSA) , or any other plan you signed up for throughout the year can pay off for you. Or watch our Benefits podcast to learn how employers can support employees while starting off the benefits plan year!

Flexible Spending Account 52

Flexible Spending Account 401(k) Health Savings Account Banking 52

Benefit Resource Inc.

APRIL 18, 2023

The cost of healthcare can be daunting, especially for those who do not have adequate insurance coverage or savings to cover medical expenses. Fortunately, there are ways to increase your financial well-being through medical savings. One such way is by utilizing health savings accounts (HSAs) and flexible spending accounts (FSAs).

Medical 52

Medical Flexible Spending Account Health Savings Account Flexible Spending 52

WEX Inc.

MAY 4, 2023

The IRS requires your flexible spending account (FSA) participants to submit documentation to prove their purchase was an eligible expense. Because of an FSA’s tax advantages, the IRS requires employers and employees to prove that FSA funds are only being spent on eligible expenses. Why is substantiation required?

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Taxes Medical 98

Business Management Daily

NOVEMBER 15, 2021

Employers are constantly looking for ways to remain competitive in their benefits offerings, and an FSA is a great add-on to your benefits package. Flexible Spending Accounts allow employees to set aside pre-tax dollars from their paycheck to use for medical or dependent care expenses. Medical Marijuana.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Medical Healthcare 98

WEX Inc.

AUGUST 2, 2023

A flexible spending account (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. FSAs are an employer-owned account , and the IRS sets limits on annual FSA contributions.

Flexible Spending Account 98

Flexible Spending Account Deductions Deductible Health 98

InterWest Insurance Services

JUNE 27, 2024

The IRS has issued a new bulletin, reminding Americans that funds in tax-advantaged medical savings accounts cannot be used to pay for general health and wellness expenses. The essence of what is reimbursable comes down to whether it’s a qualified medical expense.

Out of Pocket Cost 98

Out of Pocket Cost Flexible Spending Account Food Health Savings Account 98

WEX Inc.

SEPTEMBER 21, 2023

However, for participants of health savings accounts (HSAs) or medical flexible spending accounts (FSAs) , there are ways to alleviate the financial burden associated with vision-related costs. Let’s explore a few common vision-related questions as it relates to your HSA or medical FSA. Are you new to HSAs?

Health 98

Health Flexible Spending Account Health Savings Account Flexible Spending 98

WEX Inc.

AUGUST 7, 2023

Sunscreen can cost as much as $40 a bottle, but did you know you can actually use your health savings account (HSA) or medical flexible spending account (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.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

AUGUST 29, 2023

And did you know that a variety of fertility and infertility treatments are eligible for health savings account (HSA) and medical flexible spending account (FSA) funds? These benefits are designed to help people who are facing difficulties conceiving naturally and require medical assistance to achieve pregnancy.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

OCTOBER 9, 2024

Health savings accounts (HSAs) and flexible spending accounts (FSAs) are often misunderstood, despite their significant financial advantages. Both allow employees to set aside pre-tax funds to cover qualified medical expenses, but that’s where most of the similarities end. If not, the employee risks forfeiting the money.

Flexible Spending Account 95

Flexible Spending Account Health Savings Account Flexible Spending Taxes 95

InterWest Insurance Services

JULY 4, 2024

The report notes 84% of employers offer both HDHPs and traditional health plans to ensure that they can met the needs of a multi-generational workforce. The study suggests that employers should offer a mix of plans that will meet the needs of their workforce. Despite the increase, employees are still facing higher premium outlays.

Voluntary Benefits 97

Voluntary Benefits Flexible Spending Account Deductions Deductible 97

Benefit Resource Inc.

JANUARY 3, 2023

Pre-tax benefits give employees an opportunity to save money on qualifying medical expenses , such as doctor visits and prescriptions. Take Advantage of a Medical FSA. A Health Savings Account (HSA) is a type of savings account that allows you to save pre-tax dollars for future medical expenses. How Employers Can Help.

Utilities 98

Utilities Taxes Flexible Spending Account Flexible Spending 98

InterWest Insurance Services

SEPTEMBER 23, 2024

One of the most underused employee benefits available is the “cafeteria” plan ― which can benefit both the employer and the employee. These plans allow workers to withhold a portion of their pre-tax salary to cover certain medical or childcare expenses. worker spends more than $1,000 every year on these types of benefits.

Flexible Spending Account 94

Flexible Spending Account Benefits Package Deductions Deductible 94

WEX Inc.

MAY 2, 2024

Health reimbursement arrangements (HRAs) and health savings accounts (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.

Health Savings Account 98

Health Savings Account 401(k) Flexible Spending Account Taxes 98

Patriot Software

OCTOBER 19, 2022

Many employers use flexible spending accounts (FSAs) to help employees pay for their medical-related expenses. Years ago, the “use it or lose it” rule was the main guideline for how employees could spend their money. Under this rule, employees forfeit any leftover money to you at the end of their plan year.

Flexible Spending Account 85

Flexible Spending Account IT Flexible Spending Medical 85

Business Management Daily

SEPTEMBER 22, 2021

Some employers start as early as September. Most employees elect coverage through their employer, but some may be eligible for marketplace coverage as well. Most employers have an open enrollment period of at least 2 to 4 weeks. The post Open enrollment checklist for employers appeared first on Business Management Daily.

Employment 90

Employment Benefit Providers Deductions Deductible 90

Benefit Resource Inc.

MAY 11, 2021

We think it’s pretty obvious, but we LOVE Flexible Spending Accounts (FSAs). Whether you’re an employer or a plan participant, we have the resources you need to succeed. Throughout the year we deliberately write about helping employees understand the plans that their employers have selected for them. March 15th.

Flexible Spending Account 81

Flexible Spending Account Family and Medical Leave Act Flexible Spending Retail 81

Benefit Resource Inc.

APRIL 20, 2023

While dusting, vacuuming, and packing away winter clothes may be on the top of your spring cleaning list, have you considered reviewing your eligible expenses and utilizing your Flexible Spending Account (FSA)? This could include things like dental visits, eye exams, and even over-the-counter medications.

Out of Pocket Cost 83

Out of Pocket Cost Flexible Spending Account Flexible Spending Health Savings Account 83