Benefit Resource Inc.

JANUARY 4, 2024

After much consideration, you’ve made the wise decision to enroll in a pre-tax benefit plan. To help you make the most of your account(s), here are some helpful reminders, tips and valuable resources. How do I access the funds in my account? Depending on the setup of your pre-tax account, there may be a few ways to access funds.

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Flexible Spending Account Flexible Spending Taxes Utilities 96

Benefit Resource Inc.

JULY 31, 2023

Amidst the excitement, many may not know that their Flexible Spending Account (FSA) can be a valuable resource for purchasing back-to-school items. An FSA is a pre-tax benefit account offered by many employers as part of their benefits package. What is an FSA? How Does it Apply to Back-to-School Shopping?

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Utilities Flexible Spending Account Flexible Spending Medical 52

Benefit Resource Inc.

JULY 27, 2023

Thankfully, many companies offer a Dependent Care Flexible Spending Account (DC FSA) to make life a little easier for parents. As an employee and a parent, you can utilize your dependent care FSA to make the most out of this special day. What is Dependent Care FSA and How Does it Work?

Utilities 52

Utilities Flexible Spending Account Flexible Spending Taxes 52

PeopleKeep

APRIL 30, 2020

Medical reimbursement plans are IRS-approved health plans that allow for tax-free reimbursement for medical expenses. Because the reimbursements occur pre-tax, employees and employers often save up to 50% in combined taxes on the cost of medical expenses. Flexible Spending Accounts (FSAs). Tax Treatment.

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Medical Flexible Spending Account Health Savings Account Health Insurance 72

Benefit Resource Inc.

NOVEMBER 6, 2023

Let’s explore effective strategies for promoting employee well-being during the winter months and the role of pre-tax benefits in achieving this goal. Leverage Pre-tax Benefits Pre-tax benefits are a valuable tool for promoting employee health and wellness during the winter months.

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Benefit Resource Inc.

MARCH 31, 2022

Health and medical expenses are covered by a Flexible Spending Account 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!

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Medical Flexible Spending Account Health Savings Account Flexible Spending 75

Benefit Resource Inc.

APRIL 20, 2023

While dusting, vacuuming, and packing away winter clothes may be on the top of your spring cleaning list, have you considered reviewing your eligible expenses and utilizing your Flexible Spending Account (FSA)? Utilize resources like BRIWEB , BRIMOBILE , and Participant Services to help you navigate your benefits.

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Benefit Resource Inc.

JANUARY 16, 2020

Incorporating lifestyle components into pre-tax accounts. So, how will this affect tax advantaged accounts like Flexible Spending Accounts and Health Reimbursement Accounts? If you’re a Beniversal Card holder, you may already know how easy it is to utilize pre-tax dollars.

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Health Savings Account Flexible Spending Account Flexible Spending Taxes 73

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. The Power of Pre-Tax Dollars One of the most significant advantages of a DCFSA is the ability to use pre-tax dollars for eligible expenses.

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Flexible Spending Account Flexible Spending Taxes Utilities 52

Benefit Resource Inc.

OCTOBER 14, 2021

VEBA stands for “Voluntary Employees’ Beneficiary Association” and is a type of Health Reimbursement Account (HRA). Your employer contributes funds into a trust account, tax-free, for you to use towards eligible health care expenses. Have Your Cake & Eat It Too.

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Flexible Spending Account Flexible Spending Taxes Utilities 75

Benefit Resource Inc.

DECEMBER 8, 2020

Families utilizing Dependent Care Flexible Spending Accounts (FSAs) are up against a December 31st deadline. The end of the year is a busy time for people with pre-tax benefits. If you have an FSA, there’s a high chance you’ll have to spend down the money in your account so you don’t lose it.

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Benefit Resource Inc.

APRIL 18, 2023

One such way is by utilizing health savings accounts (HSAs) and flexible spending accounts (FSAs). Health Savings Accounts allow employees (and employers) to contribute to a tax-free account to be used for eligible medical expenses. What is an HSA? What is an FSA?

Medical 52

Medical Flexible Spending Account Health Savings Account Flexible Spending 52

UpstartHR

APRIL 13, 2015

However, smart HR leaders also look at the benefits adoption and usage to determine how employees are utilizing the offerings. It offers a dependent care flexible spending account, which many of us in the benefit space know is utilized at a fairly low rate compared to other benefits.

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Paid Leave Flexible Spending Account Flexible Spending Utilities 66

Benefit Resource Inc.

NOVEMBER 15, 2023

The Role of Employee Benefits Employee benefits, such as Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), Commuter Plans, and Specialty Accounts emerge as valuable tools in the toolbox of employers seeking to support their workforce during times of inflation.

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Business Management Daily

SEPTEMBER 22, 2021

The survey results will help you prioritize the benefit changes or expansions that would be most impactful for your current employees so that you can utilize your benefits budget effectively. HSA benefit plans: A health savings account lets employees set aside money on a pre-tax basis to pay for qualified medical expenses.

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Benefit Resource Inc.

JUNE 29, 2021

Within the pre-tax benefit space, your work is cut out for you as a human resource professional. Now that you’ve explained (again) how insurance works, you get to begin the real work of teaching employees the difference between Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs).

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Benefit Resource Inc.

APRIL 27, 2021

So, don’t make them carry separate cards for their pre-tax health accounts and commuter benefits! A smart employee benefits card utilizes merchant, terminal, and card payment rules to create a simple, convenient payment experience. a Health Savings Account and Limited Purpose Flexible Spending Account).

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Employee Benefits Flexible Spending Account Health Savings Account Banking 53

WEX Inc.

SEPTEMBER 6, 2023

Can be a cost-effective option for pet owners who frequently utilize preventive services. HSAs and FSAs: Service dog expenses Health savings accounts (HSAs) and flexible spending accounts (FSAs) may provide an additional avenue for covering the cost of a service dog. It is not legal or tax advice.

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Recruitment Flexible Spending Account Health Savings Account Medical 59

CorpStrat

JANUARY 22, 2024

A well-executed communication plan ensures that your employees are aware of the full range of benefits available to them, understand how to utilize them, and feel valued and supported. Communicating these benefits effectively is equally important as providing them. Hidden Gems In Your Employee Benefits Plan 1.

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Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

Higginbotham

SEPTEMBER 16, 2024

Pairing High-Deductible Health Plans with HSAs A Health Savings Account (HSA) is a savings account designed to cover qualified medical expenses. It can be funded with pre-tax dollars, and withdrawals are not taxed as long as they are used for eligible medical expenses, making it a tax-advantaged way to pay for medical costs.

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Business Management Daily

JANUARY 5, 2021

The law also extends expiring tax provisions and everything that could be jammed into 5,593 pages of federal legislation three days before Christmas. The key payroll provisions include: An extension of the paid sick/ family leave provisions and your tax credit for providing leave. Extensions of popular payroll tax provisions.

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Empuls

JULY 11, 2023

Alongside competitive salaries and career growth opportunities, companies are now offering a wide array of tax free or non taxable employee benefits to attract and retain top talent. In this blog, we will discuss tax free or non taxable employee benefits. In this blog, we will discuss tax free or non taxable employee benefits.

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Higginbotham

MARCH 17, 2023

While many employers are familiar with health savings accounts (HSAs) and flexible spending accounts (FSAs), lifestyle spending accounts (LSAs) are an emerging benefit that can provide flexible and personalized support to employees.

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Vantage Circle

SEPTEMBER 11, 2023

These include self-service employee onboarding, document storage, payroll processing, tax filing, reporting, and human resources (HR) compliance assistance. By utilizing this platform, managers can show their team members how much they value their hard work and dedication. Set up to five personalized financial goals.

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Genesis HR Solutions

MAY 23, 2023

Utilizing software for recruitment. Flexible Spending Account (FSA): An FSA (also known as a flexible spending arrangement) is a special account employees put money into that they use to pay for certain out-of-pocket health care costs. Employers fund and own accounts.

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Proskauer's Employee Benefits & Executive Compensa

FEBRUARY 7, 2022

Plans utilizing this special rule should also remember to inform participants of any limitations they will impose in this regard. Shipping costs (and taxes) are included in the $12 reimbursement limit for tests purchased from non-network providers. Fraud and Abuse.

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Empuls

OCTOBER 11, 2023

These taxes can either be grossed up from the organization’s behalf or can be taken care of by the employee. Gym and Health Club Memberships Did you know that corporate gym memberships are the most utilized health and wellness perk from all? What Health and Wellness Stipends Are Not? No, that’s not the case.

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WEX Inc.

JANUARY 29, 2025

While insurance is often the primary safety net, flexible spending accounts (FSAs) , health savings accounts (HSAs) , lifestyle spending accounts (LSAs) , and emergency funds can also play an important role in recovery. It is not legal or tax advice.

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