WEX Inc.

AUGUST 28, 2024

If you’re an employer, performing non-discrimination testing (NDT) is important when it comes to offering benefits to your employees. Testing shows whether or not your tax-advantaged plans are discriminating in favor of highly compensated employees or key employees. What is non-discrimination testing?

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Flexible Spending Account Flexible Spending Medical Taxes 95

WEX Inc.

DECEMBER 3, 2024

Medical flexible spending accounts (medical FSAs) are use-or-lose accounts. Administering your own FSA can be time-consuming, so many employers turn to third-party administrators (TPAs). It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.

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Flexible Spending Account Flexible Spending Medical Taxes 98

WEX Inc.

SEPTEMBER 26, 2024

If you’re an employer, is your in-house benefits administration team struggling to juggle the multitude of complexities behind running a successful benefits administration program? Luckily for you, we’re sharing our insights on the top four questions employers ask when considering outsourcing benefits administration. Download now!

Employment 52

Employment Flexible Spending Account Flexible Spending Education 52

Flimp Communications

DECEMBER 10, 2024

As year-end draws closer, countless employees unknowingly leave money on the tablemoney theyve set aside for healthcare through their Flexible Spending Accounts (FSAs). For employees, it means paying out of pocket for expenses that could have been purchased with pre-tax dollars. But why does this happen so often?

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Utilities Family and Medical Leave Act Flexible Spending Account 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. A dependent care FSA allows employees to save up to 30% or more on childcare or elder care costs by using pre-tax dollars, lowering their taxable income.

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Flexible Spending Account Health Savings Account Flexible Spending Taxes 52

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. Employers are responsible for issuing timely notices to comply with the law.

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

Benefit Resource Inc.

JANUARY 3, 2023

If you’re in the 70% of people who have health-related goals for 2023, let’s take a look at how pre-tax benefits can help set goals and prioritize your health this year and beyond. Add In Pre-Tax Benefits. Plus, any interest earned on the account is tax free and the money is ALWAYS yours! Set SMART Goals.

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Utilities Taxes Flexible Spending Account Flexible Spending 98

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. Employees can save an average of 30% in federal, state and local taxes on items they already pay for out of pocket.

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Flexible Spending Account Employment Flexible Spending Deductions 97

Insperity

NOVEMBER 26, 2024

For example, some employers are adopting health plans that cover, or at least provide some reimbursement for, reproductive health. Add health savings accounts and flexible spending accounts. Benefits that improve financial health Again, it is very common for employers to offer a retirement savings plan.

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Employee Benefits Family and Medical Leave Act PTO Flexible Spending Account 72

Money Talk

JUNE 29, 2022

In it, I urged a review of tax deductions/credits, tax withholding, budgeting/cash flow, flexible spending accounts, financial goal progress, and investment portfolio status. This is a great time to increase emergency savings or automatic deposits into an employer retirement savings plan (e.g.,

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401(k) Out of Pocket Cost Finance Flexible Spending Account 189

Benefit Resource Inc.

DECEMBER 30, 2022

Pre-tax benefits are growing in popularity amongst employers and employees alike. This is because they offer a great way to save on taxes while still being able to use funds for medical, dependent care, and other expenses. In the last year alone, we’ve learned a lot about pre-tax benefits and how to maximize their potential.

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Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

WEX Inc.

OCTOBER 15, 2024

Today, to commemorate National Health Savings Account Awareness Day (HSA Day) celebrated annually on October 15, WEX is highlighting available resources to help employers and employees better understand the impressive value of HSAs for both wellbeing and wallets. Employers’ contributions to employees’ HSAs are tax deductible.

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

WEX Inc.

SEPTEMBER 24, 2024

Being able to differentiate yourselves as an employer by saying ‘Whatever is important to you (like your pets) is important to us too’ really helps employers to stand out,” said Moszer on our Benefits podcast. It is not legal or tax advice. Peace of mind knowing that your pet is covered for life.

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Recruitment Flexible Spending Account Health Savings Account Medical 52

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! It is not legal or tax advice.

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Flexible Spending Account 401(k) Health Savings Account Banking 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. For example, do you have any new dependents who have healthcare needs and could be covered by a pre-tax benefits plan? If your employer offered you a raise, you wouldn’t say no, right?

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

WEX Inc.

MARCH 20, 2023

If you’re an employer, is your in-house benefits administration team struggling to juggle the multitude of complexities behind running a successful benefits administration program? Luckily for you, we’re sharing our insights on the top four questions employers ask when considering outsourcing benefits administration.

Employment 98

Employment Flexible Spending Account Flexible Spending Education 98

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?

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Deductions Deductible Health Savings Account Flexible Spending Account 52

HR Lineup

MAY 9, 2023

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. In addition to health insurance and retirement savings plans, Pazcare also offers flexible spending accounts (FSAs).

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401(k) Flexible Spending Account Health Insurance PTO 130

Flimp Communications

OCTOBER 30, 2024

Their tax advantages and investment potential can help employees reduce healthcare costs, save for retirement, and maximize tax refunds. About half of American employers offer HSAs — coupled with high-deductible health plans (HDHPs) — but, according to one study , 69% of employees don’t understand their benefits or uses.

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Deductions Deductible Taxes Flexible Spending Account 52

WEX Inc.

JANUARY 14, 2025

Schedule workshops or webinars to break down complex topics like: Health savings accounts (HSAs) Flexible spending accounts (FSAs) Retirement planning options Emphasize the total rewards picture Highlight how your benefits program fits into your companys total rewards strategy. It is not legal or tax advice.

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Flexible Spending Account Health Savings Account Flexible Spending Retirement Plan 52

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. Since the salary reductions are not received by the employee, they are not considered wages for income tax purposes. Flexible spending account. Set-up and tax implications.

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Flexible Spending Account 401(k) Flexible Spending Deductions 96

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.

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

HR Lineup

MAY 11, 2023

Employers can choose from a range of pre-tax benefits, including health insurance, dental insurance, vision insurance, and other types of benefits. PeopleKeep also provides flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), and health savings accounts (HSAs) to help employees save money on healthcare expenses.

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Flexible Spending Account Health Savings Account Benefits Package Flexible Spending 130

WEX Inc.

FEBRUARY 15, 2023

Did you recently elect to participate in a medical flexible spending account (FSA) ? What is a medical flexible spending account (FSA)? A medical FSA is a tax-advantaged employee benefit that gives participants the opportunity to save on out-of-pocket medical, dental, and vision eligible expenses.

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Medical Flexible Spending Account Flexible Spending Taxes 98

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. It is not legal or tax advice.

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Flexible Spending Account Flexible Spending Taxes Medical 98

WEX Inc.

OCTOBER 9, 2024

Health savings accounts (HSAs) and flexible spending accounts (FSAs) are often misunderstood, despite their significant financial advantages. It’s time to clarify the ins and outs of these tax-saving healthcare accounts and answer some HSA and FSA FAQs. The tax savings are significant.

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Flexible Spending Account Health Savings Account Flexible Spending Taxes 95

WEX Inc.

JULY 9, 2023

A dependent care flexible spending account lets participants set aside pre-tax dollars to help pay for dependent care. Contributing to this benefit reduces taxable income and spreads the benefits of pre-tax dollars throughout the year, helping you save 30 percent or more on your dependent care costs.

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Flexible Spending Account Flexible Spending Taxes Consulting 98

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. If your employer offers both plans during your benefits enrollment, you’ll want to be familiar with what each plan covers.

Medical 98

Medical Flexible Spending Account Flexible Spending Deductions 98

WEX Inc.

MAY 2, 2024

For employers, HRAs or HSAs come with perks, including tax savings and increased employee retention. Health reimbursement arrangement An HRA is an employer-funded benefits plan that employees use to save pre-tax dollars on medical costs. Watch our video below for seven things you should know about HSAs!

Health Savings Account 98

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

Benefit Resource Inc.

APRIL 11, 2019

In this post, we’ll provide a bit of background about what the Flexible Spending Account (FSA) rollover option is and how it works. The FSA rollover option is offered by some employers to employees as a form of protection against losing funds in a Medical FSA. The employer decides the amount that can roll.

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Taxes Flexible Spending Account Medical Flexible Spending 76

Benefit Resource Inc.

DECEMBER 2, 2021

A Dependent Care Flexible Spending Account (often shortened to ‘Dependent Care FSA’) is a pre-tax benefit account used to pay for eligible services such as preschool, summer day camp, before/after school programs, and child or adult daycare. 2022 Changes to Dependent Care. How Do I Enroll?

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Flexible Spending Account Flexible Spending Taxes Employment 105

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. The plan offers a simple way to reduce the cost of their benefits.

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Flexible Spending Account Benefits Package Deductions Deductible 94

Benefit Resource Inc.

MARCH 14, 2019

The name alone – “pre- tax benefit accounts” – implies there might be tax implications. You might be surprised to learn there are no tax implications for most of these benefits. Use these simple tips as your tax guide to pre-tax benefit accounts. In fact, they might be the easiest account at tax-time.

Taxes 63

Taxes Health Savings Account Deductions Deductible 63

HR Lineup

JULY 10, 2023

The platform automates the entire payroll process, from calculating earnings and deductions to generating pay stubs and tax forms. It simplifies the enrollment and management of employee benefits programs, such as health insurance, retirement plans, and flexible spending accounts.

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Flexible Spending Account Payroll Flexible Spending Retirement Plan 130

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

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.

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Flexible Spending Account Deductions Deductible Health 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? It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.

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