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

Higginbotham

MAY 2, 2025

A cafeteria plan for health insurance has a similar premise. The employer agrees to contribute a certain amount, and the employee makes contributions to cover the remainder. Employers can also offer Health Savings Accounts (HSAs) as part of a cafeteria plan.

Health Insurance 52

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

Money Talk

MAY 18, 2022

Ramp Up Retirement Savings - Consider increasing retirement savings in a tax-deferred employer retirement savings plan (e.g., Saving even 1% more of pay can make a difference in later life. There are online calculators like this one than can show you what you could save. .

Taxes 263

Taxes 401(k) Deductions Deductible 263

Benefit Resource Inc.

MAY 15, 2024

One choice that sticks out in the ever-changing world of employee benefits for both employers and employees is a Health Savings Account (HSA). Understanding the HSA Advantage HSAs are tax-advantaged savings accounts specifically designed to help individuals save for medical expenses.

Health Savings Account 52

Health Savings Account Healthcare Benefits Package Taxes 52

Best Money Moves

OCTOBER 22, 2024

It’s clear that financial burnout is taking a significant toll on the overall health of American employees , yet many workplaces still struggle with how to effectively curb the issue. Here are the key factors driving this issue and actionable steps employers can take to provide support.

Out of Pocket Cost 59

Out of Pocket Cost Healthcare Health Savings Account Medical 59

Benefit Resource Inc.

DECEMBER 21, 2022

Health savings accounts (HSAs) allow employees to save and build wealth for future medical costs. HSAs are an incredibly advantageous tool for employers and employees alike, but only if they’re used the right way. Let’s look at how employers can help employees make the most of their HSAs.

Health Savings Account 52

Health Savings Account Taxes Medical Health Insurance 52

InterWest Insurance Services

JULY 11, 2024

The Department of Labor’s new fiduciary rule, which mainly applies to 401(k) plans, will also affect employers who offer their staff health savings accounts. HSAs are also portable, meaning they can be moved from one employer to the next, and they can be kept until retirement years.

401(k) 98

401(k) Health Savings Account Employment Commissions 98

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. Fortunately, there is another option: a health reimbursement arrangement (HRA). Qualified medical expenses. How HRAs work.

Medical 98

Medical Health Insurance Out of Pocket Cost Deductions 98

Benefit Resource Inc.

MARCH 31, 2023

As an employee with a Health Savings Account (HSA), knowing what you need to report during tax season is important. Contributions are the money you or your employer put into your HSA account. Distributions are the money you withdraw for qualified medical expenses.

Health Savings Account 52

Health Savings Account Taxes Healthcare Medical 52

Benefit Resource Inc.

FEBRUARY 23, 2023

Health Savings Accounts (HSAs) are tax-advantaged accounts that allow you to pay for medical expenses now and in the future. Whether you already have an HSA or are looking at this account for the first time, BRI is here to share why we love this account so much. HSAs Are Not Use-It-Or-Lose.

Health Savings Account 52

Health Savings Account 401(k) Retirement Plan Taxes 52

WEX Inc.

SEPTEMBER 18, 2024

When approaching open enrollment, do … Evaluate available health insurance plans. Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans. If your employer offered you a raise, you wouldn’t say no, right?

401(k) 52

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

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. 7 basic rules of an HSA you need to know Maximize the potential of your health savings account (HSA) by mastering these 7 essential rules.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Flexible Spending Taxes 52

WEX Inc.

NOVEMBER 27, 2024

Your health plan drives many of your decisions during open enrollment. One emerging trend is employers offering their employees health plan options. Does your employer offer options? You must be enrolled in an HDHP to be eligible to participate in a health savings account (HSA). What’s a PPO?

Deductions 52

Deductions Deductible Health Savings Account Flexible Spending Account 52

HR Lineup

SEPTEMBER 19, 2021

This includes providing the best medical insurance for patients to fully benefit from various health centers. Below is a list of the top medical software companies that will bring about the change you have been looking for. Our List of Top Medical/Healthcare Software Companies 2021. Take a look below. HealthEquity.

Healthcare 130

Healthcare Software Medical Health Savings Account 130

Best Money Moves

DECEMBER 9, 2024

Employees look for solutions to their unique problems from building retirement savings to handling unexpected medical expenses. Inclusive health benefits are still widely sought after Medical costs continue to be a major concern for employees going into 2025. These benefits trends will continue going into 2025.

roth 401(k) 52

roth 401(k) 401(k) Benefits Package Paid Leave 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.

401(k) 98

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

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

InterWest Insurance Services

JULY 13, 2023

Employers who were surveyed for a new report expected that group health insurance premiums would increase 5.4% this year and at a faster clip in 2024 as inflation hits medical costs. It definitely means paying close attention when employees say they need better support for their mental health.” copay plan).

Employment 98

Employment Out of Pocket Cost Health Insurance Health Savings Account 98

InterWest Insurance Services

JANUARY 11, 2024

Despite group health plan inflation increasing again in 2024, a new study has found that employers continue staying the course in not shifting costs to employees who may already be overstretched by inflation and medical bills. “Employers are looking to enhance benefits, but they need to do it carefully.

Employment 97

Employment Health Savings Account Medical Insurance 97

Benefit Resource Inc.

DECEMBER 8, 2022

It’s the 19th birthday of Health Savings Accounts (HSAs), and they have been a game-changer in healthcare. They are one of the most powerful tools available to employers, employees, and their families when saving on healthcare costs. Let’s take a look at how these accounts can help your business.

Health Savings Account 40

Health Savings Account Healthcare Taxes Flexible Spending 40

InterWest Insurance Services

AUGUST 10, 2022

Employers who offer health savings account-eligible high-deductible health plans (HDHPs) to employees can significantly expand pre-deductible coverage for certain drugs used to manage chronic conditions — with only a tiny effect on premiums. Absenteeism. Illness-related presenteeism. Cost of temporary workers.

Deductions 98

Deductions Deductible Family and Medical Leave Act Health Savings Account 98

Business Management Daily

JUNE 29, 2022

This is a post about the options employers have in the wake of the Supreme Court’s June 24 Dobbs v. Jackson Women’s Health Organization decision, which reversed Roe v. Group health plans are the natural place to start when thinking about reimbursing expenses related to female employees’ family planning decisions.

Family and Medical Leave Act 92

Family and Medical Leave Act Healthcare Employment Medical 92

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

Flimp Communications

FEBRUARY 25, 2025

People count on their refunds to pay down debt, boost their savings, and fund major expenditures like home improvement or a long-overdue family vacation. 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.

Taxes 69

Taxes Deductions Deductible Flexible Spending Account 69

InterWest Insurance Services

SEPTEMBER 9, 2024

As they wrestle with providing attractive but affordable health care benefits for employees, employers are trying a variety of strategies. A recent report from insurance brokerage Gallagher shows businesses are balancing workers’ physical and emotional health against ever-rising costs. Eligibility requirements.

Family and Medical Leave Act 93

Family and Medical Leave Act Employment Pharmaceutical Health Savings Account 93

WEX Inc.

MARCH 16, 2023

How much should I contribute to my health savings account (HSA) each month? If you’re covered by an HSA-eligible health plan (or high-deductible health plan ), the IRS allows you to put as much as $3,650 per year (in 2022) into your health savings account (HSA). What is an HSA?

Health Savings Account 98

Health Savings Account Deductions Deductible Healthcare 98

PeopleKeep

FEBRUARY 9, 2022

A health savings account (HSA) is an employee-owned account designed to set aside pre-tax money to pay for qualified medical expenses such as deductibles, copayments, coinsurance, and other out-of-pocket expenses included in IRS publication 502.

Health Savings Account 98

Health Savings Account Deductions Deductible Healthcare 98

InterWest Insurance Services

MARCH 7, 2024

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. Not everyone is eligible to participate in an HSA.

401(k) 98

401(k) Health Savings Account Pharmaceutical Deductions 98

WEX Inc.

MARCH 7, 2023

We wanted to share a few tips and reminders about the health savings account (HSA) information you’ll need for your tax return. Make sure your W-2 form shows HSA payroll contributions Provided by your employer, your W-2 shows the wages you earned and any taxes withheld.

Taxes 98

Taxes Health Savings Account Deductions Deductible 98

Benefit Resource Inc.

NOVEMBER 10, 2021

The IRS released the 2022 contribution limits for Mass Transit, Parking, Medical FSA, and Adoption Assistance in Revenue Procedure 2021-45. 2022 CONTRIBUTION LIMIT: MEDICAL FSA. If you have a Medical FSA and/or Adoption Assistance plan year that begins January 1, 2022 and would like to increase your tax-free limits, please click here.

Health Savings Account 98

Health Savings Account Medical Taxes 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? Children’s sunscreen, suntan lotion with SPF, and more are eligible for reimbursement with your HSA and medical FSA.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

SEPTEMBER 21, 2023

Visual health is a vital component of overall well-being, and unexpected eye-related expenses can put a strain on your finances. 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.

Health 98

Health Flexible Spending Account Health Savings Account Flexible Spending 98

InterWest Insurance Services

JUNE 20, 2024

The IRS has announced significantly higher health savings account contribution limits for 2025, with the amount increasing 3.6% The IRS updates this amount annually, along with minimum deductibles as well as the out-of-pocket maximums for high-deductible health plans. Medical devices. for individual HSA plans.

Deductions 97

Deductions Deductible Health Savings Account Medical 97

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

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. These accounts can only reimburse for services, prescription drugs and hardware that alleviate or prevent a physical or mental defect or illness.

Out of Pocket Cost 98

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

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.

Deductions 98

Deductions Deductible Out of Pocket Cost Health Savings Account 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. If not, the employee risks forfeiting the money.

Flexible Spending Account 95

Flexible Spending Account Health Savings Account Flexible Spending Taxes 95