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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.
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).
Exploring HSAs and FSAs HSAs and medical flexiblespendingaccounts (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.
And did you know that a variety of fertility and infertility treatments are eligible for health savings account (HSA) and medical flexiblespendingaccount (FSA) funds? Most people using fertility services pay thousands of dollars out of pocket without insurance. What are fertility benefits?
Participating in a health savings account (HSA) or flexiblespendingaccount (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.
The IRS requires non-discrimination testing for employers who offer plans governed by Section 125 , which includes a flexiblespendingaccount (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).
Health Savings Account (HSA) Tweak - By mid-year, you know what you already spent for health care services through June. FlexibleSpendingAccount (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.
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. Provide coverage for mental health care services.
Flexiblespendingaccounts (FSA) Flexiblespendingaccounts (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.
One of the most significant employee benefits that Pazcare offers is health insurance. Health insurance is an essential component of employee benefits, and Pazcare recognizes the importance of it. In addition to health insurance and retirement savings plans, Pazcare also offers flexiblespendingaccounts (FSAs).
In addition, new rulemaking is likely to be introduced in 2022 that will affect health plans, including non-discrimination rules for wellness plans and new rules governing what must be included on insurance plan ID cards. The CAA created a number of new requirements that affect health insurance and coverage. More guidance coming.
In it, I urged a review of tax deductions/credits, tax withholding, budgeting/cash flow, flexiblespendingaccounts, financial goal progress, and investment portfolio status. Insurance Check-Up - While stocks have trended downward so far in 2022, insurance premiums (homeowners, auto, health, etc.)
When asked what benefit they’d like to learn more about, pet insurance received the third-most responses. LSAs Lifestyle spendingaccounts (LSAs) can be customized by you to cover your employees’ pet-related expenses. Just like humans, pets can face unexpected health issues or accidents that may require veterinary attention.
They include 529 college savings plans, flexiblespendingaccounts (FSAs), tax-deferred annuities, and health savings accounts (HSAs) for people with high-deductible health insurance plans. Bottom Line: tax-efficient investment strategies allow investors to retain more of their investment earnings.
Employers can choose from a range of pre-tax benefits, including health insurance, dental insurance, vision insurance, and other types of benefits. The PeopleKeep platform offers customizable benefits solutions for businesses of all sizes.
USI is a leading insurance brokerage and consulting firm that specializes in employee benefits. USI’s benefits offerings include a comprehensive suite of health insurance options, including medical, dental, and vision insurance.
If your employer offers a health reimbursement arrangement (HRA), then you have access to a unique health benefit that empowers you to make your own healthcare choices in ways a traditional group health insurance plan doesn’t.
Whether you’re transitioning from your parents’ insurance, landed your first full-time job, or are simply obtaining coverage for the first time, choosing health plans and employee benefits options can be overwhelming. However, your eligibility for either account can be influenced by the health plan you choose.
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.
NFP is a leading provider of employee benefits, wellbeing, and insurance solutions. 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 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).
The platform streamlines HR processes and benefits administration by offering a single, centralized platform for employees to access and manage their benefits, from health insurance and retirement plans to time-off tracking and more. One of the key benefits of GoCo is its ease of use.
When approaching open enrollment, do … Evaluate available health insurance plans. If you rarely go to the doctor or would like to enroll in a health savings account (HSA) , an HSA-eligible health plan may be right for you! Fortunately, a few open enrollment tips can go a long way to making sure you’re maximizing your savings potential.
Through the platform, employers can offer a wide range of benefits, including health insurance, retirement plans, flexiblespendingaccounts, and more. In addition to benefits administration, Businessolver recognizes the importance of employee engagement and wellbeing.
It allows employees to explore and select their desired benefits packages from a wide range of options, including health insurance, retirement plans, flexiblespendingaccounts, and more. One of the key features of Benefit Elect is its robust benefits enrollment system.
Through a user-friendly interface, employees can easily access and manage their benefits, including health insurance, retirement plans, flexiblespendingaccounts, and more. The platform is highly configurable, allowing employers to tailor their benefits programs to meet the unique needs of their workforce.
This means that employers can easily manage various benefit plans, such as health insurance, retirement savings, flexiblespendingaccounts, and more, all in one place. One of the key advantages of Benefitfirst is its ability to consolidate multiple benefits offerings into a single, centralized platform.
The platform supports a wide range of benefit types, including health insurance, dental and vision coverage, retirement plans, flexiblespendingaccounts, and more. With BENEFITFOCUS, employers can create customized benefits plans that meet the unique needs of their workforce.
If you’re shopping for group health insurance for your company the first or second time around, it can be hard to make a confident choice. Not to mention, the Affordable Care Act (ACA) has changed the group health insurance market considerably. Instead, HSA money belongs to the employee and remains in the account until used.
It simplifies the enrollment and management of employee benefits programs, such as health insurance, retirement plans, and flexiblespendingaccounts. Additionally, Proliant’s HCM platform includes comprehensive benefits administration capabilities.
The platform enables HR teams to manage employee benefits, such as health insurance, retirement plans, and flexiblespendingaccounts. Benefits administration is simplified through iSolved’s robust functionality.
The company offers a range of financial security benefits, such as life insurance, disability coverage, and flexiblespendingaccounts, which help employees safeguard against unexpected events and manage their finances effectively.
The average employer covers 78% of their employees’ health insurance premiums, up from 74% in 2022. 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.
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.
Did you recently elect to participate in a medical flexiblespendingaccount (FSA) ? What is a medical flexiblespendingaccount (FSA)? If you’re a first-time medical FSA participant, you may not be familiar with FSA definitions and rules. The 2023 contribution limit for medical FSAs is $3,050 per year.
Flexiblespendingaccount: With an FSA an employee pays — on a pre-tax basis through salary reduction — for out-of-pocket medical expenses that aren’t covered by insurance (for example, annual deductibles, doctor’s office copayments, prescriptions, eyeglasses and dental costs).
From mandated health insurance plans to free snacks, benefits and perks can play a big role in talent attraction and employee retention. Health insurance Those benefits provide a baseline of employee expectations. Health care flexiblespendingaccounts 3. Health insurance 2. Dental or vision insurance 4.
Participating in a health savings account (HSA) or flexiblespendingaccount (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.
And did you know that a variety of fertility and infertility treatments are eligible for health savings account (HSA) and medical flexiblespendingaccount (FSA) funds? Most people using fertility services pay thousands of dollars out of pocket without insurance. What are fertility benefits?
As rising health insurance premiums and out-of-pocket costs for health care are burdening workers, more employers are looking for ways to help their staff put aside money for those expenses. While health savings accounts have grown in popularity, you can only offer them to employees who are enrolled in high-deductible health plans.
If you’re wondering what the difference is between a Medical FlexibleSpendingAccount (Medical FSA) and a Dependent Care FlexibleSpendingAccount (DC FSA), you are not alone. Participants often do not understand that separate elections must be made for Medical and Dependent Care Accounts.
It’s almost time for year-end small group open enrollment and you need to drive engagement so that your employees can make informed decisions about their health insurance options. We want to help you help your employees understand all of their options so that they can purchase a plan that is appropriate for their situation.
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. Copays, co-insurance, and deductibles for medical care. Types of FSA Plans.
There are four major types of employee benefits many employers offer: medical insurance, life insurance, disability insurance, and retirement plans. Medical Insurance. Medical insurance is likely a no-brainer— it’s one of four major types of benefits most employers offer. Dental Insurance. Vision Insurance.
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