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4 considerations when choosing employee benefits for the first time

WEX Inc.

Exploring HSAs and FSAs HSAs and medical flexible spending accounts (FSAs) let you save money because the funds you contribute to them are pre-tax. Consider the following when evaluating these accounts: Tax benefit: Contributions to HSAs and FSAs are tax-deductible and reimbursements for qualified medical expenses are tax-free.

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Ten Tax Planning Tips for 2022

Money Talk

To err on the side of caution in the event of an audit, experts advise keeping tax records for at least six years. ¨ Since there is no longer a non-itemizer’s charitable deduction in 2022 and only about 10% of tax filers itemize, you’ll probably have fewer receipts to save. 401(k), 403(b), and traditional IRA).

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Your 2025 benefits compliance checklist: What you need to know

WEX Inc.

Flexible spending accounts (FSA) Flexible spending accounts (FSAs) offer a valuable tax-advantaged benefit, but the IRS use-or-lose rule can result in forfeited funds if employees dont use their balances by the deadline. Key dates February 28, 2025: Paper filing deadline for 1095-C forms.

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Pazcare

HR Lineup

In addition to health insurance and retirement savings plans, Pazcare also offers flexible spending accounts (FSAs). FSAs are pre-tax accounts that employees can use to pay for eligible healthcare expenses, such as medical bills or prescriptions.

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Selerix

HR Lineup

The platform supports a wide range of benefit types, including health insurance, dental and vision coverage, retirement plans, flexible spending accounts, and more. With BENEFITFOCUS, employers can create customized benefits plans that meet the unique needs of their workforce.

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Financial and Lifestyle Insights- Part 3

Money Talk

Life events to consider for “X” can include a job offer, a promotion, unemployment, divorce, widowhood, retirement, an inheritance, and more. Check Your FSA - Learn the rules for your flexible spending account (FSA). Simply fill in the blanks: “If/When [X] happens, then I will do [Y].”

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New benefits plan year tips for HR

WEX Inc.

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.