Flimp Communications

FEBRUARY 25, 2025

As the April tax filing deadline is nearing, Americas employees let out a collective groan. This isnt a comment on the economy or current tax policies. Tax season has always arrived with a jolt. Tax filing forces people to honestly assess their incomes, savings plans, and progress toward their financial goals.

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Taxes Deductible Deductions Flexible Spending Account 52

WEX Inc.

AUGUST 28, 2024

Testing shows whether or not your tax-advantaged plans are discriminating in favor of highly compensated employees or key employees. The IRS requires non-discrimination testing for employers who offer plans governed by Section 125 , which includes a flexible spending account (FSA). What tests are available?

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Flexible Spending Account Flexible Spending Medical Taxes 95

WEX Inc.

DECEMBER 11, 2024

Fortunately, health savings accounts (HSAs) and flexible spending accounts (FSAs) cover many common winter eligible expenses you might turn to this time of year! You can use pre-tax dollars to save money on purchases such as hot/cold packs and heating pads. The information in this blog post is for educational purposes only.

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Flexible Spending Account Health Savings Account Flexible Spending Taxes 52

WEX Inc.

DECEMBER 18, 2024

With new deadlines and changing benefits compliance requirements each year, its vital to stay informed and organized. 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.

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

WEX Inc.

JANUARY 2, 2025

A dependent care FSA allows employees to save up to 30% or more on childcare or elder care costs by using pre-tax dollars, lowering their taxable income. 5 common FSA terms you should know Boost your understanding of flexible spending accounts (FSAs) by mastering these 5 common terms. It is not legal or tax advice.

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Flexible Spending Account Health Savings Account Flexible Spending Taxes 52

Money Talk

JANUARY 19, 2022

Make Tax-Advantaged Gifts - Consider “bunching” charitable donations with other tax deductions (e.g., state income tax and local property tax) every so often (e.g., Another tax-advantaged way to benefit from charitable gifts is to open a donor advised fund (DAF) with a major brokerage firm.

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Flexible Spending Account Taxes Pension Deductible 187

Benefit Resource Inc.

JANUARY 3, 2023

If you’re in the 70% of people who have health-related goals for 2023, let’s take a look at how pre-tax benefits can help set goals and prioritize your health this year and beyond. Add In Pre-Tax Benefits. Plus, any interest earned on the account is tax free and the money is ALWAYS yours! Set SMART Goals.

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Utilities Taxes Flexible Spending Account Flexible Spending 98

WEX Inc.

JANUARY 14, 2025

Utilize multiple channelsemail, intranet, video tutorials, and town hall meetingsto ensure employees understand: Key changes to the benefits plan Enrollment deadlines Tools available to help them make informed decisions Consider leveraging AI-driven communication tools to personalize messages and answer common questions in real time.

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Flexible Spending Account Health Savings Account Flexible Spending Retirement Plan 52

WEX Inc.

SEPTEMBER 4, 2024

Understanding different medical plans To make an informed decision, it’s essential to understand various medical plans and how they relate to your life. HSAs and FSAs as an option Health savings accounts (HSAs) and flexible spending accounts (FSAs) are among the pre-tax accounts you can contribute funds to and save money on healthcare costs.

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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. Add dependents Your HSA or FSA may cover your dependents costs if the dependents are claimed on your tax return. It is not legal or tax advice.

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

WEX Inc.

OCTOBER 15, 2024

While HSAs combine several of the best features of 401(k)s and flexible spending accounts (FSAs), they are often overlooked and underutilized. Employers’ contributions to employees’ HSAs are tax deductible. In addition, employees’ contributions to their own accounts reduce employers’ payroll taxes.

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

Money Talk

JUNE 29, 2022

In it, I urged a review of tax deductions/credits, tax withholding, budgeting/cash flow, flexible spending accounts, financial goal progress, and investment portfolio status. Last year, I wrote a blog post about mid-year financial check-up s for the OneOp Personal Finance team.

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WEX Inc.

SEPTEMBER 18, 2024

For example, do you have any new dependents who have healthcare needs and could be covered by a pre-tax benefits plan? Use available tools and resources to learn more about pre-tax benefits and to plan for the year ahead. Consider any major life changes you and your family have experienced in the previous year.

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

WEX Inc.

SEPTEMBER 24, 2024

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. The information in this blog post is for educational purposes only. It is not legal or tax advice.

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Flimp Communications

OCTOBER 30, 2024

Their tax advantages and investment potential can help employees reduce healthcare costs, save for retirement, and maximize tax refunds. Higher HSA enrollment and usage can take a bite out of your company’s FICA taxes. And by investing your HSA, you can actually make money tax-free.

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Deductible Deductions Taxes Flexible Spending Account 52

WEX Inc.

SEPTEMBER 26, 2024

Your benefits administrator may also offer non-discrimination testing , which is required for flexible spending accounts (FSAs) , health reimbursement arrangements (HRAs) , and more. The information in this blog post is for educational purposes only. It is not legal or tax advice. Check out our handout. Download now!

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Employment Flexible Spending Account Flexible Spending Education 52

HR Lineup

FEBRUARY 9, 2023

With a user-friendly interface, employees can easily view and enroll in benefits, submit time-off requests, and manage their personal information. The platform also offers a flexible spending account (FSA) option, allowing employees to set aside pre-tax dollars for eligible medical and dependent care expenses.

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WEX Inc.

NOVEMBER 27, 2024

Pre-tax benefits savings Premiums aren’t the only way you can save on healthcare costs. Pre-tax employee benefits plans, such as HSAs and flexible spending accounts (FSAs) , let you save money by putting aside pre-tax dollars to pay for eligible medical, dental, vision and other expenses.

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Deductible Deductions Health Savings Account Flexible Spending Account 52

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)? A medical FSA is a tax-advantaged employee benefit that gives participants the opportunity to save on out-of-pocket medical, dental, and vision eligible expenses.

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Benefit Resource Inc.

NOVEMBER 8, 2023

If you’re wondering what the difference is between a Medical Flexible Spending Account (Medical FSA) and a Dependent Care Flexible Spending Account (DC FSA), you are not alone. Is it more advantageous to have a DC FSA or to claim the Child Care Tax Credit on my income tax return? Great question!

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InterWest Insurance Services

MARCH 22, 2022

Employers fund these flexible benefit plans with funds that are deducted from their employees’ salaries on a pre-tax basis. Since the salary reductions are not received by the employee, they are not considered wages for income tax purposes. Flexible spending account. Set-up and tax implications.

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Flexible Spending Account 401(k) Flexible Spending Deductible 96

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 accounts have a triple-tax advantage, meaning distributions for qualified medical expenses and investment returns are tax-free, and contributions are tax-deductible.

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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? Egg donor fees Egg donor fees , when deemed medically necessary by a doctor who has provided the information needed, are covered by a HSA and FSA.

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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

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. Because of an FSA’s tax advantages, the IRS requires employers and employees to prove that FSA funds are only being spent on eligible expenses. Why is substantiation required?

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HR Lineup

JUNE 9, 2023

It enables businesses to handle complex payroll processes with ease, including payroll calculations, tax management, direct deposits, and payroll reporting. The platform enables HR teams to manage employee benefits, such as health insurance, retirement plans, and flexible spending accounts.

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Flexible Spending Account Payroll Flexible Spending Retirement Plan 130

WEX Inc.

JULY 9, 2023

A dependent care flexible spending account lets participants set aside pre-tax dollars to help pay for dependent care. Contributing to this benefit reduces taxable income and spreads the benefits of pre-tax dollars throughout the year, helping you save 30 percent or more on your dependent care costs.

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Flexible Spending Account Flexible Spending Taxes Consulting 98

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. The tax savings are significant. It is not legal or tax advice.

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Flexible Spending Account Health Savings Account Flexible Spending Taxes 95

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. The information in this blog post is for educational purposes only. It is not legal, financial, or tax advice.

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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

Benefit Resource Inc.

MARCH 14, 2019

The name alone – “pre- tax benefit accounts” – implies there might be tax implications. You might be surprised to learn there are no tax implications for most of these benefits. Use these simple tips as your tax guide to pre-tax benefit accounts. In fact, they might be the easiest account at tax-time.

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Taxes Health Savings Account Deductible Deductions 63

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. How’s your sunscreen stock?

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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

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. The information in this blog post is for educational purposes only. What is an FSA?

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Flexible Spending Account Deductible Deductions Health 98

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. The information in this blog post is for educational purposes only. It is not legal or tax advice.

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Health Flexible Spending Account Health Savings Account Flexible Spending 98

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. The information in this blog post is for educational purposes only. It is not legal or tax advice. Can I use my HSA or medical FSA to pay for dental expenses?

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Qandle

JUNE 20, 2023

This includes employee details such as names, addresses, social security numbers, tax withholding information, bank account details for direct deposit, and any changes in employment status or compensation. This information will impact the calculation of employee pay. Ensure accuracy and verify any changes or updates.

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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. EOB Smart Scan, which uses artificial intelligence (AI) to scan a participant’s Explanation of Benefits (EOB) and auto-fill necessary claim information. Download now!

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WEX Inc.

MAY 24, 2023

Employers should make a concerted effort to simplify the language used in communications to ensure employees can easily understand their options and make informed decisions. It’s about what a health savings account or a flexible spending account can do for them." It is not legal or tax advice.

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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. The information in this blog post is for educational purposes only. It is not legal, financial, or tax advice. We break down FSA carryovers below. Can FSA funds carry over to next year?

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