This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
However, for participants of health savings accounts (HSAs) or medical flexiblespendingaccounts (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?
Flexible learning format with self-paced courses. Covers medical, dental, vision, and other health-related benefits. Administered by the International Foundation of Employee Benefit Plans (IFEBP) and Dalhousie University, this program provides a comprehensive education on employee benefits, retirement plans, and health benefits.
The IRS recently announced that the annual contribution limit for flexiblespendingaccounts will rise to $3,200 in 2024, up $150 from this year. Also, employees will be able to carry over up to $640 next year into 2025 if they have funds left over in their account, if their employer allows it (it’s optional).
However, for participants of health savings accounts (HSAs) or medical flexiblespendingaccounts (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?
As year-end draws closer, countless employees unknowingly leave money on the tablemoney theyve set aside for healthcare through their FlexibleSpendingAccounts (FSAs). Protect Skin and Vision Sunscreen with SPF 15 or higher is eligible for FSA reimbursement, making it an excellent year-round purchase.
Standard” benefits may include: Health, dental and vision insurance Retirement savings plan, with a company match Life insurance Disability insurance Workers’ compensation insurance Paid time off (PTO) – two weeks per year at a minimum, three weeks per year preferred. Add health savings accounts and flexiblespendingaccounts.
Health care flexiblespendingaccounts 3. Dental or vision insurance 4. Introducing the employee benefits package to the employees 6. Create a plan to review the employee benefits package routinely Business Owner and Manager together can design employer benefits package as it is key to attracting and retaining top talent.
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 flexiblespendingaccounts (FSAs), health reimbursement arrangements (HRAs), and health savings accounts (HSAs) to help employees save money on healthcare expenses.
GoCo also offers a wide range of employee benefits options, including health, dental, and vision insurance, as well as a range of wellness programs and resources. The platform also offers a flexiblespendingaccount (FSA) option, allowing employees to set aside pre-tax dollars for eligible medical and dependent care expenses.
Did you recently elect to participate in a medical flexiblespendingaccount (FSA) ? What is a medical flexiblespendingaccount (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.
The platform supports a wide range of benefit types, including health insurance, dental and vision coverage, retirement plans, flexiblespendingaccounts, and more. Selerix is a leading provider of cloud-based technology solutions for benefits administration and enrollment.
They offer a wide range of services, including group health insurance, dental and vision coverage, life insurance, short- and long-term disability insurance, flexiblespendingaccounts, and more. One of the key benefits of working with NFP is the personalized approach they take to employee benefits.
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.
USI’s benefits offerings include a comprehensive suite of health insurance options, including medical, dental, and vision insurance. The company also offers flexiblespendingaccounts (FSAs) and health savings accounts (HSAs) to help employees save money on healthcare costs.
A flexiblespendingaccount (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. Limited medical FSA, which covers eligible dental, vision and preventative care expenses.
Pre-tax employee benefits plans, such as HSAs and flexiblespendingaccounts (FSAs) , let you save money by putting aside pre-tax dollars to pay for eligible medical, dental, vision and other expenses. As mentioned above, you can participate in an HSA only if you are enrolled in an HDHP. It is not legal or tax advice.
Options can include: Health insurance, Voluntary benefits premiums (like vision and dental), Life insurance, 401(k), and. Flexiblespendingaccount. Call us for more information on how you can set up a flexible benefit plan for your staff. Flexiblespendingaccounts.
Sunscreen can cost as much as $40 a bottle, but did you know you can actually use your health savings account (HSA) or medical flexiblespendingaccount (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.
FlexibleSpendingAccounts allow employees to set aside pre-tax dollars from their paycheck to use for medical or dependent care expenses. These funds are placed in an FSA account that employees can use to pay for eligible expenses. Here is what you need to know to figure out if an expense is FSA eligible. Healthcare FSA.
Health savings accounts (HSAs) and flexiblespendingaccounts (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. Eligible expenses: What can you spend on?
You can claim a tax deduction for the funds you transfer to your employees’ HRAs, and the funds they withdraw from the accounts to reimburse for medical-related expenses are generally tax-free. Unlike HSAs and flexiblespendingaccounts, though, HRAs are solely funded by employers. Vision expenses.
Flexiblespendingaccounts (FSAs) are a powerful tool for individuals and employers to save money on healthcare and dependent care expenses. What you can do: Highlight the flexibility of FSAs. Emphasize that eligible expenses encompass a wide range of medical, dental, and vision costs, as well as dependent care expenses.
As we celebrate the 20th anniversary of Health Savings Accounts (HSAs), it’s time to reflect on the transformative impact this financial tool has had on healthcare and personal finance. 20 Years and Counting Health Savings Accounts have come a long way since their inception 20 years ago.
HSA or FSA options Similar to the choice in health plans, many participants told us in the survey that they wanted to choose between either a health savings account (HSA) or a flexiblespendingaccount (FSA). Ideally, more vision options.” However, not all employees are offered these benefits.
Vision Insurance. Vision insurance is designed to help your employees cover and budget for ongoing vision care expenses like routine eye exams, prescription glasses, and contact lenses. FlexibleSpendingAccount (FSA). Medical Insurance. Employers usually cover a portion of this premium. Dental Insurance.
Health and medical expenses are covered by a FlexibleSpendingAccount or Medical FSA to promote general well-being. These accounts are used to cover health and medical expenses both for you and your dependents (usually children). Take advantage of your pre-tax benefits this year! Use-It-Or-Lose-It.
Fortunately, there’s another option… Enroll in a Limited Purpose FlexibleSpendingAccount (FSA). A Limited Purpose FSA (also known as a Limited FSA or Limited Medical FSA) allows you to pay for dental and vision services with tax-free money. It’s in your (and your teeth’s!)
As the end of 2021 and the plan year looms, it’s crucial to consider what you can do with any remaining funds in your FlexibleSpendingAccount (FSA). Most of the funds in your FSA need to be spent before the end of the plan year because you may lose what you don’t spend. Make every dollar count!
Consider that 43% of employees spend time working on their personal finances while at work. As a result, many employers realize that a myopic focus on core benefits like health, dental, and vision shortchanges employees. And that was before the coronavirus pandemic further complicated finances.
In honor of National Sunglasses Day, we wanted to highlight eligible vision expenses you can pay for with your pre-tax accounts. As an overview, a pre-tax account is a type of benefit your employer may offer to help you cover out-of-pocket expenses. There are a variety of different plans and accounts available.
So you must plan in advance, getting all the appropriate departments—HR, Accounting, Finance, IT and the C-suite—on board. Employees paid weekly experience an extra pay period every five or six years. What’s up with this math? Well, nothing. The 27th/53rd pay period phenomenon is real and can cause havoc if you’re not prepared. Do nothing.
This includes medical, dental and vision coverage, a health care flexiblespendingaccount , a retirement plan, life insurance and personal accident insurance, short-term and long-term disability insurance, adoption assistance, commuter benefits and educational assistance. ” What is co-employment? One-stop shop.
If you have a FlexibleSpendingAccount (FSA), you know that every year during Open Enrollment (OE), you choose how much to put aside in the account, otherwise known as your election. Let’s be honest– one of the main reasons you enrolled in a pre-tax account was to save money. Getting Started.
An HSA is not the same as a flexiblespendingaccount (FSA), which is an employer-sponsored plan and requires employees to use or lose their contributions each year. Instead, HSA money belongs to the employee and remains in the account until used. Pediatric dental and vision requirements aren’t what you thought.
Insight Enterprises offers its employees dental, disability, health, life and vision insurance, a flexiblespendingaccount, mental health benefits, adoption assistance, childcare benefits, family medical leave, remote and flexible working, a bonus scheme and paid time to volunteer.
Flexiblespendingaccounts (FSAs) allow your employees to use pre-tax dollars to cover eligible out-of-pocket healthcare expenses, providing a tax-efficient way to manage medical costs and helping you and your employees save money. But how can you effectively communicate and offer FSAs to your employees?
Just how important is an employee handbook? It wouldn’t be an exaggeration to say that, actual employees aside, it may be the most important part of your organization. Handbooks help manage your employees and keep your business compliant with the ever-growing list of employment rules and regulations.
One such way is by utilizing health savings accounts (HSAs) and flexiblespendingaccounts (FSAs). Health Savings Accounts allow employees (and employers) to contribute to a tax-free account to be used for eligible medical expenses. This will help you determine how much to contribute to your account.
There is a subsidy for 100% of premiums (including 2% administration fees) for the cost of Group Health Plans, including: Medical, Dental, Vision, and most HRAs. FlexibleSpendingAccounts are not eligible for subsidy. The subsidy is available for both fully insured and self-insured plans. What is the subsidy period?
Together, these combined announcements by the IRS detail 2023 adjusted limits to the amounts employees can tuck away pretax into FlexibleSpendingAccounts (FSAs), Health Savings Accounts (HSAs), transportation benefits, and retirement plans such as 401(k)s. FSA Employer Contribution Limits for 2023.
.” Too bad making your pre-tax benefit account decisions is not as easy as pointing and saying “Eenie meenie miney mo – Which account should I choose?” What if you could choose the right pre-tax benefit accounts by answering four questions? What is the account? Why do I need this account?
From flexiblespendingaccounts (FSAs) to health savings accounts (HSAs) and commuter benefits, these options offer significant advantages if managed wisely. Know Your Pre-Tax Benefit Options Flexiblespendingaccounts (FSAs): An FSA allows you to set aside pre-tax dollars for eligible healthcare expenses.
Flex Account. One of the most common cafeteria plans is a flex account, or flexiblespendingaccount (FSA). This type of cafeteria plan gives employees the option to enroll in an account that allows them to set aside money from their paycheck tax-free and use it for qualified medical expenses.
Flex Account. One of the most common cafeteria plans is a flex account, or flexiblespendingaccount (FSA). This type of cafeteria plan gives employees the option to enroll in an account that allows them to set aside money from their paycheck tax-free and use it for qualified medical expenses.
We organize all of the trending information in your field so you don't have to. Join 46,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content