WEX Inc.

MARCH 16, 2023

How much should I contribute to my health savings account (HSA) each month? If you’re covered by an HSA-eligible health plan (or high-deductible health plan ), the IRS allows you to put as much as $3,650 per year (in 2022) into your health savings account (HSA). What is an HSA?

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Health Savings Account Deductible Deductions Healthcare 98

WEX Inc.

JULY 9, 2024

Does your health savings account (HSA) have enough funds to carry you through the second half of the year? Does my HSA have enough to cover upcoming healthcare costs? Unexpected: While these costs can be difficult to predict, always account for an unplanned trip to the emergency room or urgent medical procedure.

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Health Savings Account Healthcare Medical Taxes 98

Flimp Communications

JUNE 24, 2020

But tips for saving money around healthcare can contribute to improved financial health. Second, the tax code can subsidize your medical costs. But even if you don’t, health savings accounts (HSAs) allow you to save money, tax free, to be spent on healthcare.

Healthcare 98

Healthcare Deductible Deductions Insurance 98

Benefit Resource Inc.

FEBRUARY 23, 2023

Health Savings Accounts (HSAs) are tax-advantaged accounts that allow you to pay for medical expenses now and in the future. Whether you already have an HSA or are looking at this account for the first time, BRI is here to share why we love this account so much. HSAs Are Not Use-It-Or-Lose.

Health Savings Account 52

Health Savings Account 401(k) Retirement Plan Taxes 52

PeopleKeep

MARCH 14, 2022

Many organizations provide a health savings account (HSA) to their employees to offset rising healthcare costs. While HSAs are employee-owned accounts, many employers wonder if they can contribute to their employees’ HSAs, and—if so—how much. But employer contributions to HSA rules can be challenging to manage.

Health Savings Account 98

Health Savings Account Employment Benefits Package Healthcare 98

Benefit Resource Inc.

JANUARY 3, 2023

Whether you’re looking to retire, advance your career, or prioritize your health, now is the perfect time to start planning your journey. 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.

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Utilities Taxes Flexible Spending Account Flexible Spending 98

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.

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.

JULY 24, 2023

And it’s a solution you might already be offering: the health savings account. These accounts provide another way for your employees to diversify their efforts to prepare for retirement. HSA contributions made through payroll are not subject to the 7.65% FICA tax. Why HSAs for retirement planning? Yes,” Cook said.

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Retirement Plan 401(k) Health Savings Account Taxes 98

WEX Inc.

JUNE 13, 2024

The average 65-year-old couple retiring today will need $351,000 to cover healthcare and medical costs in retirement. And even though Medicare helps pay for the healthcare needs of 63 million people, most recipients still spend thousands each year on out-of-pocket expenses. All three accounts provide potential tax savings.

401(k) 96

401(k) Retirement Plan Health Savings Account Deductions 96

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. Health Savings Account.

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Taxes Health Savings Account Medical Deductions 74

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. Let’s take a look at how these accounts can help your business.

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Health Savings Account Healthcare Taxes Flexible Spending 40

PeopleKeep

FEBRUARY 9, 2022

A health savings account (HSA) is an employee-owned account designed to set aside pre-tax money to pay for qualified medical expenses such as deductibles, copayments, coinsurance, and other out-of-pocket expenses included in IRS publication 502.

Health Savings Account 98

Health Savings Account Deductible Deductions Healthcare 98

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. If you’re one of that majority, you may be missing out on multiple ways to save, either through the health plan you choose or through the benefits you enroll in.

401(k) 98

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

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Flexible Spending Account Health Savings Account Flexible Spending Taxes 95

Benefit Resource Inc.

SEPTEMBER 7, 2023

HSAs (Health Savings Accounts) are an excellent tool for controlling healthcare costs and setting up money for the future. They are a beneficial addition to your employee benefits because of the flexibility and tax advantages they provide. Fewer accounts mean fewer forms and less paperwork to deal with.

Health Savings Account 101

Health Savings Account Healthcare Taxes Finance 101

WEX Inc.

MAY 8, 2023

This could be because employees newer to the workforce have less health concerns and want to pay a lower premium each month because they’re on a stricter budget. HDHPs can actually be a great healthcare saving option for employees of all ages. It is not legal or tax advice.

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Business Management Daily

JUNE 29, 2022

Aside from transportation costs, tax-free reimbursements for employees’ medical travel are limited to $50 per person a day for lodging; meals aren’t included. Employees can use health savings accounts to cover the cost and you can contribute to those, too. However, HSAs must be paired with high-deductible health plans.

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Family and Medical Leave Act Healthcare Employment Medical 92

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.

Medical 98

Medical Flexible Spending Account Health Savings Account Flexible Spending 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

WEX Inc.

AUGUST 15, 2023

For first-time health insurance and benefits electees, we’re kicking off a three-part blog series just for you to walk through considerations when making these decisions. For starters, let’s look at a few considerations when evaluating health plans for the first time. Consider whether you typically have low or high medical expenses.

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WEX Inc.

MAY 12, 2023

There are a variety of ways you can promote mental health in the office , and one way is to provide benefits that support your employees' needs. For example, your employees can use their health savings account (HSA) to improve their financial wellness and save money on a variety of mental health-related expenses.

Health Savings Account 98

Health Savings Account Medical Retirement Plan Taxes 98

Benefit Resource Inc.

JANUARY 3, 2022

Fortunately, one great way to help with out-of-pocket costs is utilizing a Health Savings Account (HSA). Benefit Resource (BRI) is here to help you use your pre-tax funds to combat some of the costs that come with welcoming your new addition. Switch to a high-deductible health plan. Let’s Start from the Beginning.

Taxes 72

Taxes 401(k) Out of Pocket Cost Health Savings Account 72

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. What you can do: Address this concern by emphasizing the savings potential of an FSA. It is not legal, financial, or tax advice. Drive wellness that works Get your guide.

Flexible Spending Account 98

Flexible Spending Account Take Home Pay Flexible Spending 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. It is not legal, financial, or tax advice. OTC medicines. Allergy testing.

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 is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

MAY 17, 2023

Health savings account (HSA) contribution limits are on the rise again in 2024. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers. 2024 HDHP minimum deductible and maximum out-of-pocket limits also are increasing. With an HSA.

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Health Savings Account Deductions Deductible Taxes 98

Employee Benefit News

APRIL 2, 2024

Help employees save money by educating them on contributions and eligible items for their health savings accounts.

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Health Savings Account Taxes Education Employee Benefits 70

Benefit Resource Inc.

SEPTEMBER 2, 2020

FSAstore.com’s Senior Account Manager Michael Lublanecki sat down with CEO Jason Hall to discuss the BRI & FSAstore.com partnership. This partnership provides participants with an easy way to use their pre-tax health dollars. FSA Calculator – Calculate yearly contributions and tax savings. thermometers.

Health Savings Account 97

Health Savings Account Banking Taxes Medical 97

Benefit Resource Inc.

JANUARY 16, 2020

Incorporating lifestyle components into pre-tax accounts. 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?

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Health Savings Account Flexible Spending Account Flexible Spending Taxes 73

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. It is not legal or tax advice.

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Flexible Spending Account Health Savings Account Flexible Spending Taxes 52

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 Deductible Deductions 96

Benefit Resource Inc.

SEPTEMBER 22, 2020

Healthcare is complicated, so how can you get the most out of Open Enrollment 2020? Start by using this list of three questions you should ask yourself before signing up for your pre-tax benefits. Question 1: What were my healthcare expenses last year? Need a refresher on healthcare terms?

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Out of Pocket Cost Deductions Deductible Healthcare 81

WEX Inc.

NOVEMBER 21, 2024

Many employees now prioritize flexibility in healthcare, retirement savings, and wellness programs. Beyond the traditional 401(k) match , some employers are introducing student loan repayment matching , helping employees reduce debt while saving for retirement. It is not legal, tax or investment advice.

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Benefit Resource Inc.

APRIL 20, 2023

This is a great opportunity to review your expenses and ensure you’re taking advantage of all the ways you can save on healthcare expenses. This not only helps you keep track of how much you’ve spent and how much is left in your account, but can also be helpful when it comes time to file taxes or submit claims.

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Out of Pocket Cost Flexible Spending Account Flexible Spending Health Savings Account 83

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

Benefit Resource Inc.

DECEMBER 27, 2022

For many pre-tax benefit account holders, December marks the final month of benefit coverage in the current plan year. Participants in FSAs, HRAs and even HSAs begin to evaluate their account balances. Annual contribution limits for pre-tax accounts are determined by the IRS. Sky’s the limit! Freedom to change.

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Health Savings Account Taxes Healthcare Medical 75