article thumbnail

Top 10 Employee Benefits Certifications for Professionals in 2024

HR Lineup

Health Insurance Associate (HIA) The Health Insurance Associate (HIA) certification is offered by America’s Health Insurance Plans (AHIP). It focuses on the fundamentals of health insurance, making it highly relevant for benefits professionals responsible for health and wellness programs.

401(k) 234
article thumbnail

Flexible Spending Account Contribution Limit Climbs

InterWest Insurance Services

The IRS recently announced that the annual contribution limit for flexible spending accounts 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).

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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.

article thumbnail

Support your employees’ fertility benefit needs with an HSA or FSA

WEX Inc.

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? Most people using fertility services pay thousands of dollars out of pocket without insurance. What are fertility benefits?

article thumbnail

HSA vs. FSA: See how you’ll save with each

WEX Inc.

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
article thumbnail

Non-discrimination testing: Stay compliant with FSAs, HRAs, and more

WEX Inc.

The IRS requires non-discrimination testing for employers who offer plans governed by Section 125 , which includes a flexible spending account (FSA). And though they aren’t part of Section 125, testing is also required for health reimbursement arrangements (HRAs) and self-insured medical plans (SIMPs).

article thumbnail

Mid-Year Financial Tweaks and Tasks

Money Talk

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. Search for banks that offer attractive rates and FDIC insurance and consider moving your money.