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Flexible Spending Flexible Spending Account Healthcare 
WEX Inc.
NOVEMBER 14, 2024
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. It is not legal or tax advice.
98 
WEX Inc.
OCTOBER 2, 2024
Understanding HSAs The number of health savings accounts (HSAs) has doubled nationwide in the last seven years , as more Americans turn to these accounts as a way to save on healthcare costs and prepare for retirement. Savings potential: HSAs and FSAs establish a strong financial cushion for anticipated healthcare needs.
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4 HR Priorities for 2025 to Supercharge Your Employee Experience
Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape
PeopleKeep
MAY 20, 2021
As healthcare costs continue to rise , small employers need a way to offer their employees a competitive health benefit to compete with larger organizations while still managing a limited budget. In fact, Willis Towers Watson’s Best Practices in Health Care survey reports 84% of employers offered an ABHP in 2019.
PeopleKeep
AUGUST 16, 2021
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.
WEX Inc.
OCTOBER 4, 2023
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. It is not legal or tax advice.
98 
WEX Inc.
FEBRUARY 15, 2023
Did you recently elect to participate in a medical flexible spending account (FSA) ? What is a medical flexible spending account (FSA)? If you’re a first-time medical FSA participant, you may not be familiar with FSA definitions and rules.
98 
BerniePortal
JULY 24, 2020
From service animal training to sleep deprivation treatment, these six medical products and services are eligible to be purchased using a wide variety of flexible spending accounts (FSAs).
Business Management Daily
NOVEMBER 15, 2021
Flexible Spending Accounts 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. Healthcare FSA. The most commonly used FSA is the healthcare FSA.
BerniePortal
JUNE 23, 2020
For healthcare, one of the most common questions that may come up is the difference between health savings accounts (HSAs) and flexible spending accounts (FSAs). Discover the meaning behind both—and why they matter.
WEX Inc.
OCTOBER 9, 2024
Health savings accounts (HSAs) and flexible spending accounts (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?
WEX Inc.
MAY 31, 2023
For those who have health savings accounts (HSAs) or medical flexible spending accounts (FSAs) , there are opportunities to save money on these expenses. Using your HSA or FSA to pay for teeth cleaning can be a smart way to maximize your healthcare dollars while taking care of your oral health.
98 
WEX Inc.
SEPTEMBER 7, 2023
Flexible spending accounts (FSAs) are a powerful tool for individuals and employers to save money on healthcare and dependent care expenses. Make sure to explain these benefits and emphasize that employees should only spend what they can.
Benefit Resource Inc.
APRIL 7, 2023
But with price transparency tools like GoodRx and Healthcare Bluebook , you can find the product you need at a price that’s clear at the start. Savings If you have a pre-tax benefit account like a Flexible Spending Account , Health Savings Account , or Commuter Benefit Account , you’re already ahead of the game.
98 
Benefit Resource Inc.
DECEMBER 8, 2023
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. This unique combination provides individuals with a powerful tool to manage their healthcare costs while minimizing their tax liability.
BerniePortal
SEPTEMBER 15, 2021
This is typically paid out via a Flexible Spending Account (FSA). Dependent care FSAs can also be referred to as dependent care reimbursement accounts or DCRAs. Dependent care refers to a benefit which offers support for those employees who need help paying for their dependents.
WEX Inc.
SEPTEMBER 14, 2023
It’s your best chance to evaluate your healthcare needs and identify opportunities to better support yourself and your family. For example, do you have any new dependents who have healthcare needs and could be covered by a pre-tax benefits plan? Will anyone in your family have anticipated healthcare costs in the upcoming year?
98 
PeopleKeep
JUNE 29, 2022
As an employer, you always want to offer the best possible healthcare benefits for your employees. But with healthcare costs rising , making sure those health benefits options are also budget-friendly is also crucial.
96 
WEX Inc.
AUGUST 10, 2023
You might be surprised to learn that your health savings account (HSA) and medical flexible spending account (FSA) can help you save on purchases of a variety of back-to-school, expenses, including: Thermometers. Are you preparing to send your kids back to school soon?
Benefit Resource Inc.
JUNE 20, 2023
Luckily, if you have a Flexible Spending Account (FSA), you can use it to save money on some summer essentials! FSAs allow you to set aside pre-tax dollars for healthcare expenses each year, and many products and services are FSA-eligible. While we all love the warm weather and longer days, summer can also be expensive.
WEX Inc.
AUGUST 29, 2023
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? Reasons can vary, which is why wide-ranging fertility benefits can also improve the lives of any adult wanting to start a family.
WEX Inc.
AUGUST 2, 2023
A flexible spending account (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. FSAs are an employer-owned account , and the IRS sets limits on annual FSA contributions.
WEX Inc.
SEPTEMBER 21, 2023
However, for participants of health savings accounts (HSAs) or medical flexible spending accounts (FSAs) , there are ways to alleviate the financial burden associated with vision-related costs. Visual health is a vital component of overall well-being, and unexpected eye-related expenses can put a strain on your finances.
98 
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)? While doing your spring cleaning, don’t forget to look at your FSA.
WEX Inc.
MAY 4, 2023
The IRS requires your flexible spending account (FSA) participants to submit documentation to prove their purchase was an eligible expense.
WEX Inc.
AUGUST 15, 2023
Assess your annual expenses Understanding your annual healthcare expenses is a fundamental step in selecting the right health plan. Think about your healthcare priorities, such as prescription medications, specialist visits, mental health services, or maternity coverage. Consider whether you typically have low or high medical expenses.
98 
Proskauer's Employee Benefits & Executive Compensa
NOVEMBER 20, 2023
On November 9th, the IRS announced additional inflation adjustments for 2024, including to the annual contribution and carryover limits for healthcare flexible spending accounts and the monthly limit for qualified transportation fringe benefits. The new limits are set forth below.
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). You may be able to save on routine expenses, like preventative healthcare costs.
75 
WEX Inc.
AUGUST 14, 2023
A flexible spending account (FSA) carryover is one way you can provide flexibility to employees who participate in these accounts. We break down FSA carryovers below. Read our blog posts on grace periods and run-out periods for the rest of the series. Can FSA funds carry over to next year?
WEX Inc.
JANUARY 2, 2025
7 basic rules of an HSA you need to know Maximize the potential of your health savings account (HSA) by mastering these 7 essential rules. Discover how to make smarter contributions, save on healthcare costs, and plan for a healthier financial future. What is a dependent care FSA? How much should I contribute to my HSA?
WEX Inc.
MAY 2, 2024
Those enrolled in an HSA or a medical flexible spending account (FSA) may also be able to enroll in certain types of HRAs. We support flexible plan designs, empowering you to determine your own benefits goals for your participants by letting you set up your HRA to look however you want.
Benefit Resource Inc.
JANUARY 16, 2020
So, how will this affect tax advantaged accounts like Flexible Spending Accounts and Health Reimbursement Accounts? In the coming years, it is likely that these accounts will incorporate wellness benefits. Instead of focusing on routine medicine, they take a step back to look at the entire person.
Benefit Resource Inc.
NOVEMBER 6, 2023
FSA and HSA: By taking advantage of programs like Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs), employees can allocate a portion of their pre-tax earnings to cover essential health-related expenses.
WEX Inc.
FEBRUARY 23, 2023
In fact, staying on top of your health savings account (HSA) , flexible spending account (FSA) , or any other plan you signed up for throughout the year can pay off for you. We’ve compiled some tips to help you if you participate in a WEX benefits plan.
PeopleKeep
APRIL 30, 2020
There are a few different types of medical reimbursement plans including: Health Reimbursement Arrangements (HRAs), Healthcare Reimbursement Plans (HRPs), Health Savings Accounts (HSAs), and Health Flexible Spending Accounts (FSAs). Flexible Spending Accounts (FSAs). Who May Contribute.
72 
Health Consultants Group
OCTOBER 1, 2021
Healthcare, including mental health, telemedicine services, and wellness. Health Savings Accounts. Flexible Spending Accounts: funded by salary reduction. IRS guidelines restrict certain spending account benefits to maximum annual amounts. These include: . Cafeteria Plan benefits often include.
Benefit Resource Inc.
DECEMBER 20, 2021
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 Flexible Spending Account (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.
Flimp Communications
DECEMBER 10, 2024
As year-end draws closer, countless employees unknowingly leave money on the tablemoney theyve set aside for healthcare through their Flexible Spending Accounts (FSAs). For employees, it means paying out of pocket for expenses that could have been purchased with pre-tax dollars.
98 
Best Money Moves
OCTOBER 13, 2023
In addition to cultivating a better work environment, according to the same Zippia study, 72% of employers saw a reduction in their healthcare costs after implementing these programs. Common incentives for participation include cash bonuses, reducing contributions towards health insurance and providing a flexible spending account.
Genesis HR Solutions
SEPTEMBER 22, 2020
Flexible Spending Account (FSA). According to Healthcare.gov , a Flexible Spending Account (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. MAACenter.org ). UHC.com ).
98 
Proskauer's Employee Benefits & Executive Compensa
OCTOBER 21, 2022
On October 18th, the IRS announced a slew of inflation adjustments for 2023, including to the annual contribution and carryover limits for healthcare flexible spending accounts and the monthly limit for qualified transportation fringe benefits. The new limits are set forth below.
Benefit Resource Inc.
JANUARY 3, 2023
With a Flexible Spending Account (FSA), you can set aside up to $3,050 in pre-tax dollars per calendar year to pay for eligible medical expenses like doctor visits, hospitalizations, and prescription medications. Take Advantage of a Medical FSA. Consider Investing In Your Future With An HRA.
98 
Benefit Resource Inc.
NOVEMBER 11, 2022
Did you know you can use your Flexible Spending Account (FSA) funds to cover a wide range of out-of-pocket healthcare costs, including vision care. Eligible expenses include annual eye exams, contact lenses, and eyeglasses.
Benefit Resource Inc.
JANUARY 16, 2024
Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are two of the most effective instruments for optimizing health savings and financial flexibility for both employers and employees among the different components of a comprehensive benefits strategy.
Best Money Moves
APRIL 30, 2019
Employers also offer childcare benefits that resolve some of the need for flexibility and help parents cover the steep cost of childcare: Resource and referral services for childcare (27 percent) Emergency/sick childcare (7 percent) On-site or near-site childcare (5 percent) Childcare subsidies (3 percent).
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