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Participation in HSAs and flexiblespendingaccounts fell 20% from 2022 to 2024, indicating that employers are not doing enough to educate their staff about these tax-advantaged accounts. Offer voluntarybenefits — Not all voluntarybenefits are created equal, and some add more value than others.
For instance, many benefits plans have employee assistance programs (EAPs) with financial wellness resources that cover legal services and caregiving services that can help alleviate financial stress. The pieces that comprise healthcare and retirement plans, voluntarybenefits, and EAPs are connected.
A flexiblespendingaccount (FSA), which can be used to cover childcare and medical costs tax-free. A health savings account (HSA), which can also be used to cover medical expenses tax-free. Follow this 4-step VoluntaryBenefits Checkup. Long-term disability, which may be needed if a doctor orders bed rest.
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