InterWest Insurance Services

DECEMBER 7, 2023

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).

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Pharmaceutical Health Savings Account 98

PeopleKeep

AUGUST 4, 2021

Those are actually health codes that tell you which items on your receipt are qualifying medical expenses. Have you ever looked down at your receipt from the drugstore and noticed a little “H” or “F” next to something you purchased?

Medical 98

Medical Flexible Spending Account Health Savings Account Flexible Spending 98

Money Talk

MAY 18, 2022

An example of a bunching strategy is combining three deductible items: state income and local property taxes up to the $10,000 cap; unreimbursed medical expenses for an elective procedure, and charitable donations. ¨

Taxes 263

Taxes 401(k) Deductions Deductible 263

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. We answer a few common dental-related questions as it relates to your HSA or medical FSA. However, medical FSAs do.

Medical 98

Medical Flexible Spending Account Health Savings Account Flexible Spending 98

WEX Inc.

JANUARY 2, 2025

The ACA code cheat sheet you need To simplify how employers communicate medical benefit details under the Affordable Care Act (ACA), the IRS introduced two specific ACA codes. 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.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Flexible Spending Taxes 52

WEX Inc.

SEPTEMBER 18, 2024

Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health 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!

401(k) 52

401(k) Health Savings Account Flexible Spending Account Healthcare 52

InterWest Insurance Services

MARCH 4, 2022

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.

Medical 98

Medical Health Insurance Out of Pocket Cost Deductions 98

PeopleKeep

APRIL 30, 2020

What are Medical Reimbursement Plans? Medical reimbursement plans are IRS-approved health plans that allow for tax-free reimbursement for medical expenses. Medical reimbursement plans can be used alongside a group health insurance plan. Different Approaches to Medical Reimbursement Plans.

Medical 72

Medical Flexible Spending Account Health Savings Account Health Insurance 72

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!

Medical 75

Medical Flexible Spending Account Health Savings Account Flexible Spending 75

WEX Inc.

JANUARY 8, 2025

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. From your online account, hover over Accounts and click on Profile Summary.

Flexible Spending Account 52

Flexible Spending Account 401(k) Health Savings Account Banking 52

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.

401(k) 98

401(k) Flexible Spending Account Health Savings Account Flexible Spending 98

WEX Inc.

SEPTEMBER 4, 2024

Assess your annual expenses Understanding your annual healthcare expenses is a fundamental step in selecting the right health plan. Consider whether you typically have low or high medical expenses. Think about your healthcare priorities, such as prescription medications, specialist visits, mental health services, or maternity coverage.

Deductions 52

Deductions Deductible Flexible Spending Account Healthcare 52

WEX Inc.

SEPTEMBER 24, 2024

This coverage includes veterinary visits, diagnostics, treatments, and medications related to covered illnesses. Financial assistance for costly treatments and medications. Benefits: Coverage for a wide range of illnesses and diseases. Additional peace of mind knowing that your pet is protected against both accidents and illnesses.

Recruitment 52

Recruitment Flexible Spending Account Health Savings Account Medical 52

WEX Inc.

NOVEMBER 27, 2024

You must be enrolled in an HDHP to be eligible to participate in a health savings account (HSA). PPOs are a common type of traditional health plan. That’s a critical first step when weighing your choice of an HDHP versus a traditional PPO or another type of traditional health plan. What’s a PPO?

Deductions 52

Deductions Deductible Health Savings Account Flexible Spending Account 52

Benefit Resource Inc.

NOVEMBER 7, 2022

For a long time, I believed you were either for Health Savings Accounts (HSAs) or you were for Flexible Spending Accounts (FSAs), but you couldn’t be for both. The very nature of HSAs prevented you from also participating in a General Medical FSA.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

Insperity

NOVEMBER 26, 2024

For example, some employers are adopting health plans that cover, or at least provide some reimbursement for, reproductive health. Add health savings accounts and flexible spending accounts. Provide coverage for mental health care services.

Employee Benefits 72

Employee Benefits Family and Medical Leave Act PTO Flexible Spending Account 72

WEX Inc.

MAY 2, 2024

Health reimbursement arrangements (HRAs) and health savings accounts (HSAs) are great tools for you and your employees to save money, and for your employees to prepare for potential medical expenses. For employers, HRAs or HSAs come with perks, including tax savings and increased employee retention.

Health Savings Account 98

Health Savings Account 401(k) Flexible Spending Account Taxes 98

WEX Inc.

AUGUST 7, 2023

Sunscreen can cost as much as $40 a bottle, but did you know you can actually use your health savings account (HSA) or medical flexible spending account (FSA) funds on many SPF-related expenses? Sunscreen There’s a good chance you’re planning on spending some time in the sun over the next few months.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

Flimp Communications

FEBRUARY 25, 2025

Educate About Tax-Advantaged HSAs (And Similar Benefits) As you know, health savings accounts (HSAs) are triple tax-advantaged. There are no taxes on HSA contributions, growth, or use for qualified medical expenses. Here are a few tips for striking while the iron is hot: 1.

Taxes 69

Taxes Deductions Deductible Flexible Spending Account 69

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? OTC medicines.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

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? It will also cover any procedures to implant donor eggs and embryos, also including fertility medication.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

SEPTEMBER 21, 2023

Visual health is a vital component of overall well-being, and unexpected eye-related expenses can put a strain on your finances. 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.

Health 98

Health Flexible Spending Account Health Savings Account Flexible Spending 98

HR Lineup

FEBRUARY 13, 2023

USI’s benefits offerings include a comprehensive suite of health insurance options, including medical, dental, and vision insurance. The company also offers flexible spending accounts (FSAs) and health savings accounts (HSAs) to help employees save money on healthcare costs.

Employee Benefits 130

Employee Benefits Flexible Spending Account Disability Insurance Health Savings Account 130

WEX Inc.

DECEMBER 18, 2024

Flexible spending accounts (FSA) Flexible spending accounts (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.

Family and Medical Leave Act 52

Family and Medical Leave Act Flexible Spending Account Flexible Spending Insurance Carriers 52

Benefit Resource Inc.

DECEMBER 8, 2022

It’s the 19th birthday of Health Savings Accounts (HSAs), and they have been a game-changer in healthcare. They are one of the most powerful tools available to employers, employees, and their families when saving on healthcare costs. Flexible Spending Options. Tax Benefits Of An HSA For Employers.

Health Savings Account 40

Health Savings Account Healthcare Taxes Flexible Spending 40

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. HSAs also have their own unique rules.

Flexible Spending Account 95

Flexible Spending Account Health Savings Account Flexible Spending Taxes 95

Benefit Resource Inc.

APRIL 7, 2023

BONUS: ID Theft Services are comprehensive and can cover your bank accounts, medical IDs, social security numbers and even email addresses. 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.

Taxes 98

Taxes Flexible Spending Account Health Savings Account Flexible Spending 98

InterWest Insurance Services

JUNE 27, 2024

The IRS has issued a new bulletin, reminding Americans that funds in tax-advantaged medical savings accounts cannot be used to pay for general health and wellness expenses. These accounts can only reimburse for services, prescription drugs and hardware that alleviate or prevent a physical or mental defect or illness.

Out of Pocket Cost 98

Out of Pocket Cost Flexible Spending Account Food Health Savings Account 98

Benefit Resource Inc.

OCTOBER 31, 2022

Commuter benefits, flexible spending accounts, dependent care, and health savings accounts are just a few of the great employee benefits available to help you save money and reduce stress. And because the funds are set aside pre-tax, you can save up to 30% on your eligible medical expenses.

Taxes 75

Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

Flimp Communications

OCTOBER 30, 2024

Health savings accounts (HSAs) are amazing tools for addressing the triple pillars of modern anxiety: money, health, and uncertainty about the future. Their tax advantages and investment potential can help employees reduce healthcare costs, save for retirement, and maximize tax refunds. HSAs are savings accounts.

Deductions 52

Deductions Deductible Taxes Flexible Spending Account 52

Benefit Resource Inc.

APRIL 18, 2023

The cost of healthcare can be daunting, especially for those who do not have adequate insurance coverage or savings to cover medical expenses. Fortunately, there are ways to increase your financial well-being through medical savings. The HSA provides a savings mechanism to pay for out-of-pocket expenses.

Medical 52

Medical Flexible Spending Account Health Savings Account Flexible Spending 52

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. What is an FSA? What types of FSAs are there?

Flexible Spending Account 98

Flexible Spending Account Deductions Deductible Health 98

WEX Inc.

SEPTEMBER 14, 2023

Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health 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!

401(k) 98

401(k) Health Savings Account Flexible Spending Account Healthcare 98

InterWest Insurance Services

JULY 4, 2024

Study findings The trend of more Gen Z workers gravitating to HDHPs makes sense, since these plans are best suited for younger individuals who are generally healthier and have fewer health problems than their older counterparts — Gen Xers and Baby Boomers. Despite the increase, employees are still facing higher premium outlays.

Voluntary Benefits 97

Voluntary Benefits Flexible Spending Account Deductions Deductible 97

Benefit Resource Inc.

JANUARY 16, 2020

The buzz phrase “health and wellness” is currently widely used to reference services or products that take a more holistic approach to care. So, how will this affect tax advantaged accounts like Flexible Spending Accounts and Health Reimbursement Accounts?

Health Savings Account 73

Health Savings Account Flexible Spending Account Flexible Spending Taxes 73

Benefit Resource Inc.

FEBRUARY 17, 2023

Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs) are both incredibly valuable benefits to help employees use pre-tax dollars to pay for eligible medical expenses. Surprising Eligible Medical Expenses Broad-spectrum sunscreen with SPF 30 or above.

Medical 52

Medical Telecommunication Flexible Spending Account Health Savings Account 52

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. From your online account, hover over Accounts and click on Profile Summary.

Flexible Spending Account 98

Flexible Spending Account 401(k) Health Savings Account Banking 98