WEX Inc.

AUGUST 28, 2024

The IRS requires non-discrimination testing for employers who offer plans governed by Section 125 , which includes a flexible spending account (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).

Flexible Spending Account 95

Flexible Spending Account Flexible Spending Medical Taxes 95

HR Digest

OCTOBER 4, 2024

Along with Hobby Lobby’s current wage hike, the shopping chain also provides other fiscal and medical benefits like a medical and dental plan, 401(k) with generous company match, a flexible spending plan, life insurance, etc.

401(k) 96

401(k) Retail Flexible Spending Life Insurance 96

InterWest Insurance Services

DECEMBER 5, 2024

Under notice 2024-71, flexible spending arrangements, health reimbursement accounts and health savings accounts will be required to reimburse for the cost of condoms. You should also add the changes to your benefits manual so that your staff know what they are entitled to.

Out of Pocket Cost 97

Out of Pocket Cost Health Savings Account Deductible Deductions 97

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. Participants often do not understand that separate elections must be made for Medical and Dependent Care Accounts.

Medical 98

Medical Flexible Spending Account Flexible Spending Deductible 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

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). By educating your team on these options, you can encourage thoughtful spending that aligns with their needs.

Utilities 98

Utilities Family and Medical Leave Act Flexible Spending Account Medical 98

WEX Inc.

FEBRUARY 15, 2023

Did you recently elect to participate in 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. What is a medical flexible spending account (FSA)? What is a medical flexible spending account (FSA)?

Medical 98

Medical Flexible Spending Account Flexible Spending Taxes 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. We answer a few common dental-related questions as it relates to your HSA or medical FSA. Can I use my HSA or medical FSA to pay for dental expenses?

Medical 98

Medical Flexible Spending Account Health Savings Account Flexible Spending 98

InterWest Insurance Services

MARCH 4, 2022

Employers fund these accounts, which reimburse your staff for qualified medical expenses and, in some cases, insurance premiums. You can claim a tax deduction for the funds you transfer to your employees’ HRAs, and the funds they withdraw from the accounts to reimburse for medical-related expenses are generally tax-free.

Medical 98

Medical Health Insurance Out of Pocket Cost Deductible 98

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

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

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) Deductible Deductions 263

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. The IRS requires this testing for Section 125 plans, HRAs, FSAs, and self-insured medical plans.

Family and Medical Leave Act 52

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

HR Lineup

MAY 9, 2023

The platform is designed to help medical professionals and patients manage healthcare needs more efficiently, utilizing technology to improve the overall healthcare experience. Pazcare is dedicated to providing not only the best medical services to its clients but also to offering an exceptional employment package to its employees.

401(k) 130

401(k) Flexible Spending Account Health Insurance PTO 130

PeopleKeep

DECEMBER 9, 2020

As leadership teams evaluate small business health insurance options , many want to know how they can reimburse employees tax-free for medical expenses.

Medical 98

Medical Health Insurance Taxes Insurance 98

WEX Inc.

SEPTEMBER 4, 2024

Consider whether you typically have low or high medical expenses. If you rarely require medical care and prefer to save on monthly premiums, a plan with a higher deductible and lower premiums might be suitable. To qualify for a general-purpose medical FSA, you can’t also be participating in an HSA.

Deductible 52

Deductible Deductions Flexible Spending Account Healthcare 52

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. 5 common FSA terms you should know Boost your understanding of flexible spending accounts (FSAs) by mastering these 5 common terms.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Flexible Spending Taxes 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

Money Talk

JANUARY 19, 2022

Check Your FSA - Learn the rules for your flexible spending account (FSA). These plans allow workers to contribute pre-tax income annually for out-of-pocket medical expenses and child/elder care. Many people had elective medical procedures canceled in 2021 or their child care needs changed.

Flexible Spending Account 187

Flexible Spending Account Taxes Pension Deductions 187

Insperity

NOVEMBER 26, 2024

Add health savings accounts and flexible spending accounts. Establish a benevolence program that issues payouts to employees facing financial hardship; for example, following a natural disaster or diagnosis of a major, life-threatening medical condition. Evaluate opportunities to lower employees’ out-of-pocket burdens.

Employee Benefits 72

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

Benefit Resource Inc.

DECEMBER 1, 2020

To avoid losing any of that pre-tax money to the use-it-or-lose-it rule, it’s important to plan your spending down to the last dollar. To help, we’ve put together a list of cheap eligible medical expenses that are always useful to have around the house. 15 Cheap Eligible Medical Expenses Under $15. Thermometer.

Medical 75

Medical Food Taxes Work From Home 75

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

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. One such way is by utilizing health savings accounts (HSAs) and flexible spending accounts (FSAs).

Medical 52

Medical Flexible Spending Account Health Savings Account Flexible Spending 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 accounts have a triple-tax advantage, meaning distributions for qualified medical expenses and investment returns are tax-free, and contributions are tax-deductible. Can I have both an FSA and an HSA?

401(k) 98

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

Flimp Communications

FEBRUARY 25, 2025

There are no taxes on HSA contributions, growth, or use for qualified medical expenses. However, with a bit of educational outreach, you can help your companys employees see that HSAs can reduce their tax bills and medical costs while helping them save for retirement. Your options include: A well-timed and concise email.

Taxes 69

Taxes Deductible Deductions Flexible Spending Account 69

WEX Inc.

NOVEMBER 27, 2024

Healthcare.gov defines a PPO as “a type of health plan that contracts with medical providers, such as hospitals and doctors, to create a network of participating providers.” However, you can’t participate in an HSA and a full general-purpose medical FSA simultaneously. What’s a PPO?

Deductible 52

Deductible Deductions Health Savings Account Flexible Spending Account 52

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. For medical FSAs, expenses for children through age 26 and spouses are permitted.

Flexible Spending Account 52

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

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

PeopleKeep

AUGUST 16, 2021

From choosing your own individual health insurance plan to spending your HRA dollars on the qualifying out-of-pocket medical expenses that make sense for you, an HRA gives you the freedom to choose.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Health Insurance Healthcare 98

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. Or watch our Benefits Buzz podcast episodes below to learn more about the basics of an HSA and medical FSA.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

SEPTEMBER 18, 2024

For example, a medical flexible spending account (FSA) is governed by the IRS’ use-or-lose rule , so it’s important that you choose the right contribution amount each year or risk losing money at the end of the plan year. The “daily grind” can often get in the way of the big picture, but don’t let it!

401(k) 52

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

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? These benefits are designed to help people who are facing difficulties conceiving naturally and require medical assistance to achieve pregnancy.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

InterWest Insurance Services

MARCH 22, 2022

Cafeteria plans are particularly good for participants who have regular expenses related to medical issues and childcare. Flexible spending account. There are several types of flexible benefit plans, including cafeteria plans and flexible spending accounts. Flexible spending accounts.

Flexible Spending Account 96

Flexible Spending Account 401(k) Flexible Spending Deductible 96

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. For fun, or possibly just curiosity, we researched and wanted to highlight some of the more surprising eligible and ineligible medical expenses.

Medical 52

Medical Telecommunication Flexible Spending Account Health Savings Account 52

WEX Inc.

JANUARY 8, 2021

Many employees took advantage of health and dependent care flexible spending accounts (FSAs) in 2020, only to see those funds languish unused as day cares closed and routine medical visits were put off to protect family members. New bill offers new options to employers, improving benefits of FSA.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Employment Medical 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. Let’s explore a few common vision-related questions as it relates to your HSA or medical FSA. Are you new to HSAs?

Health 98

Health Flexible Spending Account Health Savings Account Flexible Spending 98

HR Lineup

FEBRUARY 9, 2023

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. With GoCo, employees have access to a comprehensive benefits marketplace where they can compare plans and select the best options for their individual needs.

Flexible Spending Account 130

Flexible Spending Account Comprehensive Benefits Flexible Spending Retirement Plan 130