WEX Inc.

OCTOBER 2, 2024

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. Funds you or your employer contribute to your HSA can help with this. Watch the video to hear more from our own Jason Cook about the retirement-planning potential of an HSA.

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Employee Benefits Flexible Spending Account Health Savings Account Life Insurance 98

McDermott Will & Emery Employee Benefits

OCTOBER 19, 2022

On October 18, 2022, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the applicable dollar limits for certain account-based health and welfare plans (see Rev. The post IRS Announces Cost-of-Living Adjustments for Health and Welfare Plans appeared first on EMPLOYEE BENEFITS BLOG.

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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.

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Flexible Spending Account Health Savings Account Flexible Spending Taxes 95

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.

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Money Talk

JUNE 28, 2023

Health Savings Account (HSA) Tweak - By mid-year, you know what you already spent for health care services through June. Flexible Spending Account (FSA) Tweak - Like HSAs, you know your health care spending so far. Use this information to adjust payroll deductions for a health care FSA (up or down).

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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)? If you’re a first-time medical FSA participant, you may not be familiar with FSA definitions and rules.

Medical 98

Medical Flexible Spending Account Flexible Spending Taxes 98

Proskauer's Employee Benefits & Executive Compensa

NOVEMBER 20, 2023

On November 9th, the IRS announced additional inflation adjustments for 2024, including to the annual contribution and carryover limits for healthcare flexible spending accounts and the monthly limit for qualified transportation fringe benefits. The new limits are set forth below.

Transportation 59

Transportation Flexible Spending Account Flexible Spending Retirement Plan 59

PeopleKeep

AUGUST 4, 2021

These codes are a quick way for you to see which items on your receipt can be paid for through your health savings account (HSA), your flexible spending account (FSA), or are eligible for reimbursement through your health reimbursement arrangement (HRA).

Medical 98

Medical 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.

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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

Benefit Resource Inc.

JANUARY 16, 2024

Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are two of the most effective instruments for optimizing health savings and financial flexibility for both employers and employees among the different components of a comprehensive benefits strategy.

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Benefits Package Flexible Spending Account Health Savings Account Flexible Spending 52

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.

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PeopleKeep

FEBRUARY 8, 2023

Many employers are familiar with account-based benefits like health savings accounts (HSAs), flexible spending accounts (FSAs), and health reimbursement arrangements (HRAs). But some may not be as familiar with lifestyle spending accounts (LSAs), which are a relatively new benefit type.

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Flexible Spending Account Health Savings Account Flexible Spending Employment 89

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? Reasons can vary, which is why wide-ranging fertility benefits can also improve the lives of any adult wanting to start a family.

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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

AUGUST 10, 2023

You might be surprised to learn that your health savings account (HSA) and medical flexible spending account (FSA) can help you save on purchases of a variety of back-to-school, expenses, including: Thermometers. Are you preparing to send your kids back to school soon?

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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

PeopleKeep

AUGUST 16, 2021

From choosing your own individual health insurance plan to spending your HRA dollars on the qualifying out-of-pocket medical expenses that make sense for you, an HRA gives you the freedom to choose. When making your decision, there are important regulations to keep in mind to make sure you’re coordinating the two health plans appropriately.

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WEX Inc.

AUGUST 28, 2024

The IRS requires non-discrimination testing for employers who offer plans governed by Section 125 , which includes a flexible spending account (FSA). What plans require non-discrimination testing?

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Flexible Spending Account Flexible Spending Medical Taxes 95

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

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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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Benefit Resource Inc.

NOVEMBER 7, 2022

For a long time, I believed you were either for Health Savings Accounts (HSAs) or you were for Flexible Spending Accounts (FSAs), but you couldn’t be for both. The very nature of HSAs prevented you from also participating in a General Medical FSA.

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WEX Inc.

MAY 31, 2023

For those who have health savings accounts (HSAs) or medical flexible spending accounts (FSAs) , there are opportunities to save money on these expenses. Dental expenses can be a significant financial burden, especially when unexpected dental procedures arise. Can I use my HSA or medical FSA to pay for dental expenses?

Medical 98

Medical Flexible Spending Account Health Savings Account Flexible Spending 98

WEX Inc.

JULY 15, 2024

We’re past the halfway point of 2024 and, for most of our flexible spending account (FSA) participants, that means there are less than six months to go until the end of their plan year. Don’t let the last date of your plan year (in most cases, that is December 31) sneak up on you!

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Benefit Resource Inc.

APRIL 10, 2024

What is a Dependent Care Flexible Spending Account (DCFSA)? First things first, let’s clarify what a dependent care flexible spending account actually is.

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PeopleKeep

MAY 20, 2021

One way small employers can avoid high insurance costs while still offering a formal health benefit to recruit and retain top talent is an account-based health plan (ABHP). Plans like health reimbursement arrangements (HRAs), health savings accounts (HSAs), and flexible spending accounts (FSAs) are all ABHPs that are growing in popularity.

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Flexible Spending Account Health Savings Account Flexible Spending Healthcare 81

COMPackage

SEPTEMBER 30, 2024

Benefits: This category encompasses a wide range of benefits, such as: Health insurance (medical, dental, vision) Retirement plans (401(k), pension) Life insurance Disability insurance Paid time off (vacation, sick leave, personal days) Flexible spending accounts (FSA) Employee assistance programs (EAP) Perks: These are additional non-monetary benefits (..)

401(k) 40

401(k) Flexible Spending Account Disability Insurance Employment 40

WEX Inc.

JULY 7, 2023

The IRS’ use-or-lose rule governs flexible spending accounts (FSAs). A flexible spending account (FSA) is an employer-sponsored benefit that allows employees to set aside a portion of their pre-tax salary to pay for qualified medical expenses or dependent care expenses. So what is the use-or-lose rule?

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Flexible Spending Account Flexible Spending Health Savings Account IT 52

WEX Inc.

AUGUST 14, 2023

A flexible spending account (FSA) carryover is one way you can provide flexibility to employees who participate in these accounts. We break down FSA carryovers below. Read our blog posts on grace periods and run-out periods for the rest of the series. Can FSA funds carry over to next year?

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Flexible Spending Account IT Flexible Spending 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.

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Flexible Spending Account IT Flexible Spending Medical 76

PeopleKeep

MAY 8, 2024

If you have a health reimbursement arrangement (HRA), health savings account (HSA), or healthcare flexible spending account (FSA), you have access to a powerful tool that can help you pay for your out-of-pocket medical costs. General wellness activities and healthy foods can be expensive.

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Flexible Spending Account Health Savings Account Flexible Spending Food 52

InterWest Insurance Services

SEPTEMBER 23, 2024

They have three specific flexible benefits for your employees to choose from: Pre-tax health insurance premium deductions Premium-only plans allow your employees to elect to withhold a portion of their pre-tax salary to pay for their portion of the premium contribution to their employer-sponsored plan.

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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.

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BerniePortal

SEPTEMBER 15, 2021

This is typically paid out via a Flexible Spending Account (FSA). Dependent care FSAs can also be referred to as dependent care reimbursement accounts or DCRAs. Dependent care refers to a benefit which offers support for those employees who need help paying for their dependents.

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Flexible Spending Account Flexible Spending IT Taxes 97

WEX Inc.

JANUARY 8, 2021

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. New bill offers new options to employers, improving benefits of FSA.

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Flexible Spending Account Flexible Spending Employment Medical 98

Proskauer's Employee Benefits & Executive Compensa

OCTOBER 21, 2022

On October 18th, the IRS announced a slew of inflation adjustments for 2023, including to the annual contribution and carryover limits for healthcare flexible spending accounts and the monthly limit for qualified transportation fringe benefits. The new limits are set forth below.

Transportation 52

Transportation Flexible Spending Account Flexible Spending Health Savings Account 52

InterWest Insurance Services

MARCH 22, 2022

Flexible spending account. Call us for more information on how you can set up a flexible benefit plan for your staff. There are several types of flexible benefit plans, including cafeteria plans and flexible spending accounts. Flexible spending accounts.

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Flexible Spending Account 401(k) Flexible Spending Deductions 75

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.

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InterWest Insurance Services

NOVEMBER 11, 2024

This is especially true if you are making changes to cost-sharing, introducing new plans, introducing a wellness plan or health savings accounts or flexible spending accounts. Communicate effectively Your task is to get employees out of cruise control and truly assess all of their options.

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Benefit Resource Inc.

OCTOBER 31, 2022

Commuter benefits, flexible spending accounts, dependent care, and health savings accounts are just a few of the great employee benefits available to help you save money and reduce stress. A Flexible Spending Account (FSA) account allows you to have pre-tax deductions for certain medical and dependent care expenses.

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