HR Digest

SEPTEMBER 14, 2020

Under the Affordable Care Act, there is a subsidy available for small businesses that provide health insurance to their employees. To qualify, the startup must have fewer than 25 full-time equivalent employees, pay average annual wages below $50,000 and contribute 50% or more toward employees’ self-only health insurance premiums.

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Health Insurance Insurance Deductions Deductible 98

PeopleKeep

JULY 12, 2021

As a small business owner, it’s likely that you, your family, and your employees are covered by individual health insurance policies. You like your network of doctors, the policy is affordable, and you may even be receiving premium tax credits. New to offering health benefits?

Health Insurance 98

Health Insurance Insurance Employment Medical 98

Money Talk

JULY 25, 2024

Set aside a portion of self-employment income to send to the IRS for quarterly estimated tax payments (and/or over-withhold on a pension or Social Security) to ensure compliance with tax regulations. Contributions to non-Roth accounts are often tax-deductible, thereby reducing adjusted gross and, ultimately taxable, income.

Employment 162

Employment Health Insurance Pension Deductions 162

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. Fortunately, there is another option: a health reimbursement arrangement (HRA). Qualified medical expenses. How HRAs work.

Medical 98

Medical Health Insurance Out of Pocket Cost Deductions 98

PeopleKeep

NOVEMBER 6, 2020

Many small organizations we talk to want to know more about the tax deductibility of medical premiums. This article discusses when medical premiums are eligible pre-tax as opposed to after-tax.

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Taxes Medical Deductions Deductible 75

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.

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Medical Health Insurance Taxes Insurance 98

Higginbotham

MARCH 24, 2025

Health Savings Accounts (HSAs) can be a flexible and tax-advantaged way to pay for health care costs. You can build up your HSA with pre-tax contributions and use it for qualified health expenses. If you have qualified employer-sponsored health insurance, you may want to delay Medicare enrollment past age 65.

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Health Savings Account Out of Pocket Cost Deductions Deductible 52

PeopleKeep

JULY 2, 2021

Since the Affordable Care Act created premium tax credits in 2014, millions of low-income Americans were able to get more affordable access to health insurance premiums on the state and federal exchanges. Watch our video to learn more about how premium tax credits work across all HRA types.

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Taxes Health Insurance Insurance Healthcare 98

Employee Benefits

MAY 22, 2023

What is private medical insurance (PMI)? PMI is a type of insurance designed to cover medical expenses incurred during illness or injury, such as operations, consultations, diagnostic investigations and tests. Are there any tax or legal implications? What are the cost implications?

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Medical Insurance Healthcare Taxes 105

WEX Inc.

SEPTEMBER 4, 2024

Whether you’re transitioning from your parents’ insurance, landed your first full-time job, or are simply obtaining coverage for the first time, choosing health plans and employee benefits options can be overwhelming. For starters, let’s look at a few considerations when evaluating health plans for the first time.

Deductions 52

Deductions Deductible Flexible Spending Account Healthcare 52

Insperity

MAY 13, 2015

If you’re shopping for group health insurance for your company the first or second time around, it can be hard to make a confident choice. Not to mention, the Affordable Care Act (ACA) has changed the group health insurance market considerably. Health Savings Accounts. High-deductible health plans.

Health Insurance 87

Health Insurance Insurance Out of Pocket Cost Health Savings Account 87

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.

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401(k) Flexible Spending Account Health Insurance PTO 130

PeopleKeep

NOVEMBER 30, 2020

Health reimbursement arrangements ( HRAs ), also known as Section 105 plans , have long been used by small and mid sized employers to offer employees an affordable, quality health benefit.

Health Insurance 94

Health Insurance Insurance Medical Taxes 94

PeopleKeep

NOVEMBER 24, 2020

Health reimbursement arrangements (HRAs) enable employers to reimburse employees for premiums and out-of-pocket medical expenses “tax-free.” Customers frequently have questions about what the difference is between categories of health benefits that are tax-free, tax-deferred, and taxable.

Taxes 95

Taxes Medical Employment Health Insurance 95

PeopleKeep

JUNE 5, 2024

The qualified small employer health reimbursement arrangement (QSHERA) and the individual coverage HRA (ICHRA) are personalized health benefits that allow employers to reimburse their employees tax-free for their health insurance premiums and other out-of-pocket medical expenses.

Health Insurance 105

Health Insurance Insurance Government Medical 105

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.

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

PeopleKeep

DECEMBER 31, 2019

A health reimbursement arrangement ( HRA ), sometimes called a health reimbursement account , is an IRS-approved, employer-funded, tax-advantaged health benefit used to reimburse employees for out-of-pocket medical expenses and personal health insurance premiums. An HRA is not health insurance.

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Health Insurance Insurance Medical Taxes 98

Fringe Benefit Analysts

FEBRUARY 25, 2021

Why is Health Insurance Important? . medical expenses can be exorbitant. Medical insurance is critical to help individuals pay for these, and many other, health-related expenses. Medical insurance is critical to help individuals pay for these, and many other, health-related expenses.

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PeopleKeep

FEBRUARY 10, 2020

Health Reimbursement Arrangements (HRAs) are federally regulated, employer-sponsored health benefit plans that allow participants to receive reimbursement for eligible out-of-pocket health-care expenses (including certain health insurance premiums).

Health Insurance 59

Health Insurance Insurance Medical Taxes 59

Benefit Resource Inc.

OCTOBER 11, 2018

What is a pre-tax benefit account? A pre-tax benefit account allows you to set aside money from your paycheck before taxes to use for IRS-approved purchases. The items you can pay for through a pre-tax benefit account depends on which plan(s) you have. Let’s start by exploring a Medical FSA. Medical FSA.

Taxes 74

Taxes Health Savings Account Medical Deductions 74

Employee Benefits

JULY 10, 2024

Employer-funded healthcare trusts are an established, tax-efficient way to deliver the benefit of medical treatment to employees without having to buy employer-paid health insurance. Once established, the trust’s governance is overseen by the employer and the trustees.

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Healthcare Employment Taxes Insurance 109

WEX Inc.

SEPTEMBER 18, 2024

When approaching open enrollment, do … Evaluate available health insurance plans. Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans. Will anyone in your family have anticipated healthcare costs in the upcoming year?

401(k) 52

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

PeopleKeep

JUNE 18, 2024

The qualified small employer health reimbursement arrangement (QSEHRA) is a tax-advantaged health benefit that allows small businesses to reimburse employees for their eligible medical expenses , including individual health insurance premiums.

Health Insurance 105

Health Insurance Medical Taxes Insurance 105

InterWest Insurance Services

OCTOBER 17, 2024

workers would accept a job with a slightly lower salary if it offered better health care and medical coverage. The main driver in workers prioritizing benefits is the rapidly rising cost of group health insurance premiums and out-of-pocket costs, according to the study by Voya Financial. Those funds are also not taxed.

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Out of Pocket Cost Voluntary Benefits Health Insurance Health Savings Account 98

PeopleKeep

NOVEMBER 6, 2023

Group health insurance may be the traditional employee health coverage option, but it doesn’t work for everyone. If you’re an employer looking for an affordable and flexible alternative to group plans, a health reimbursement arrangement (HRA) is a great option. However, setting up an ICHRA is easier than you think.

Health Insurance 105

Health Insurance Insurance Medical Taxes 105

InterWest Insurance Services

JUNE 13, 2024

Employer adoption of specialized accounts that they fund to help reimburse employees when they buy health insurance on their own is surging in 2024. Employers fund these accounts with money that employees can use to purchase health insurance, often on Affordable Care Act exchanges. These funds are not taxed.

Health Insurance 98

Health Insurance Insurance Deductions Deductible 98

BerniePortal

JANUARY 22, 2020

Trying to beat the tax time rush? Mid-January marks the start of tax season! Now's a good time for HR to advise employees to review paycheck withholdings and health care items. Along with the new W-4, the IRS has updated its online tax withholding estimator. Review Health Savings Account.

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Taxes Health Savings Account Health Insurance Medical 64

Global People Strategist

JUNE 8, 2022

Expats living in Thailand have access to world-class medical facilities once they sign up for the public medical aid system. There are two ways of getting medical services in Thailand. Public health. Private health insurance. Thai Public Health. Private Health Insurance in Thailand.

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Health Insurance Insurance Hospitality Deductions 52

PeopleKeep

OCTOBER 23, 2023

One of the main perks of HRAs—including the qualified small employer HRA (QSEHRA)—is their tax advantages. With a QSEHRA, any money allocated for the reimbursement of eligible employee medical expenses are payroll tax-free for a company and its employees.

Health Insurance 98

Health Insurance Taxes Medical Payroll 98

InterWest Insurance Services

SEPTEMBER 23, 2024

These plans allow workers to withhold a portion of their pre-tax salary to cover certain medical or childcare expenses. The benefits are free from federal and state income taxes, employees’ taxable income is reduced and that means that employers don’t have to pay FICA on those dollars.

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Flexible Spending Account Benefits Package Deductions Deductible 94

PeopleKeep

OCTOBER 6, 2021

While group health insurance has typically been the standard choice for employer-sponsored health coverage, rising group premiums and the “one-size-fits-all” nature of the plans are becoming unsustainable for many organizations, especially small and medium-size businesses (SMBs). Short on time?

Health Insurance 98

Health Insurance Insurance Medical Taxes 98

InterWest Insurance Services

JULY 4, 2024

The plans are typically tied to a health savings account (HSA), which employees can fund with pre-tax dollars to reimburse for health-related expenses. The average employer covers 78% of their employees’ health insurance premiums, up from 74% in 2022.

Voluntary Benefits 97

Voluntary Benefits Flexible Spending Account Deductions Deductible 97

BerniePortal

DECEMBER 20, 2021

Of course, not all medical expenses are covered by an individual’s health insurance plan. A health savings account is an excellent employee benefit to accompany a high-deductible health plan, and account-holders should be encouraged to take advantage of these tax-free funds.

Health Savings Account 96

Health Savings Account Health Insurance Deductions Deductible 96

PeopleKeep

JULY 9, 2021

Given the rising cost of employer-sponsored group health insurance plans, more and more employers, particularly small and medium size businesses, are looking to health reimbursement arrangements (HRAs) as a more affordable health benefits solution.

Employment 98

Employment Health Insurance Insurance Medical 98

InterWest Insurance Services

APRIL 11, 2024

A recent study has found that employers who offer health insurance coverage to their staff had an average return on investment (ROI) of 47%, meaning that for every $1 an employer spends, it will receive $1.47 The study confirms that offering health coverage does more than meet a basic need for your staff. in benefits.

401(k) 93

401(k) Health Insurance Insurance Taxes 93

HR Lineup

FEBRUARY 22, 2023

The platform can automate the entire payroll process, from calculating employee salaries and taxes to issuing paychecks and processing direct deposits. The platform can assist in managing employee benefits such as health insurance, retirement plans, and other employee perks. Payroll management is another crucial feature of Zelt.

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Family and Medical Leave Act Payroll Manager Payroll Retirement Plan 130

HR Lineup

FEBRUARY 9, 2023

The platform streamlines HR processes and benefits administration by offering a single, centralized platform for employees to access and manage their benefits, from health insurance and retirement plans to time-off tracking and more. One of the key benefits of GoCo is its ease of use.

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