WEX Inc.

MARCH 12, 2025

We wanted to share a few tips and reminders about the health savings account (HSA) information youll need for your tax return. Prepare to report distributions and contributions using tax Form 8889 Form 8889 is used to report any distributions from and contributions to your health savings account.

Taxes 103

Taxes Health Savings Account Deductions Deductible 103

WEX Inc.

JULY 9, 2024

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

Health Savings Account 98

Health Savings Account Healthcare Medical Taxes 98

WEX Inc.

OCTOBER 30, 2024

Health savings accounts (HSAs) HSA participants save money by contributing funds to their HSA pre-tax. Lifestyle spending accounts (LSAs) LSAs provide employees the flexibility to allocate funds for non-medical expenses, such as wellness programs and educational courses.

Education 95

Education Health Savings Account Taxes Consulting 95

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 Deductions Deductible 97

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

PeopleKeep

JULY 28, 2023

Health savings accounts (HSAs) are a popular way to save funds for future medical expenses. While most use their HSA funds for their own medical costs, it's possible to use them for dependents' medical expenses as well. However, many people are unaware of all the ways they can use their funds.

Medical 98

Medical Health Savings Account IT 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 for teeth cleaning?

Medical 98

Medical Flexible Spending Account Health Savings Account Flexible Spending 98

Benefit Resource Inc.

MAY 15, 2024

One choice that sticks out in the ever-changing world of employee benefits for both employers and employees is a Health Savings Account (HSA). Understanding the HSA Advantage HSAs are tax-advantaged savings accounts specifically designed to help individuals save for medical expenses.

Health Savings Account 52

Health Savings Account Healthcare Benefits Package Taxes 52

Benefit Resource Inc.

DECEMBER 21, 2022

Health savings accounts (HSAs) allow employees to save and build wealth for future medical costs. To maximize the benefits of an HSA, make sure to use it exclusively for qualified medical expenses like copays and prescriptions. Let’s look at how employers can help employees make the most of their HSAs.

Health Savings Account 52

Health Savings Account Taxes Medical Health Insurance 52

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

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

Benefit Resource Inc.

MARCH 31, 2023

As an employee with a Health Savings Account (HSA), knowing what you need to report during tax season is important. Contributions are the money you or your employer put into your HSA account. Distributions are the money you withdraw for qualified medical expenses. All HSA transactions are reported on Form 8889.

Health Savings Account 52

Health Savings Account Taxes Healthcare Medical 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

Best Money Moves

OCTOBER 22, 2024

Furthermore, 51% of employees would need to dip into their savings or checking accounts for unexpected medical bills. Employers can help by offering more comprehensive health plans that minimize out-of-pocket costs from the start.

Out of Pocket Cost 59

Out of Pocket Cost Healthcare Health Savings Account Medical 59

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

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! Use-It-Or-Lose-It.

Medical 75

Medical Flexible Spending Account Health Savings Account Flexible Spending 75

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.

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

HR Lineup

SEPTEMBER 19, 2021

This includes providing the best medical insurance for patients to fully benefit from various health centers. Below is a list of the top medical software companies that will bring about the change you have been looking for. Our List of Top Medical/Healthcare Software Companies 2021. Take a look below. HealthEquity.

Healthcare 130

Healthcare Software Medical Health Savings Account 130

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.

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

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. Tax Benefits Of An HSA For Employers. Flexible Spending Options. Happy Birthday to HSAs.

Health Savings Account 40

Health Savings Account Healthcare Taxes Flexible Spending 40

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

PeopleKeep

MAY 19, 2021

A health savings account (HSA) is a tax-advantaged savings account a family or individual can use to pay for qualified medical expenses. HSAs are paired with a high-deductible health plan (HDHP) and have annual contribution limits.

Health Savings Account 98

Health Savings Account Deductions Deductible Medical 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

Best Money Moves

DECEMBER 9, 2024

Employees look for solutions to their unique problems from building retirement savings to handling unexpected medical expenses. Inclusive health benefits are still widely sought after Medical costs continue to be a major concern for employees going into 2025.

roth 401(k) 52

roth 401(k) 401(k) Benefits Package Paid Leave 52

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?

Health Savings Account 98

Health Savings Account Deductions Deductible Healthcare 98

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

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

InterWest Insurance Services

AUGUST 10, 2022

Employers who offer health savings account-eligible high-deductible health plans (HDHPs) to employees can significantly expand pre-deductible coverage for certain drugs used to manage chronic conditions — with only a tiny effect on premiums. Absenteeism. Illness-related presenteeism. Cost of temporary workers.

Deductions 98

Deductions Deductible Family and Medical Leave Act Health Savings Account 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? Children’s sunscreen, suntan lotion with SPF, and more are eligible for reimbursement with your HSA and medical FSA.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

Wellable

JUNE 29, 2022

Health Savings Accounts (HSAs), which allow individuals to store and withdraw funds for certain qualified medical expenses, are frequently offered as part of an employer’s benefits package. According to one report , nearly 40% of companies offered an HSA-qualified health option in 2021.

Utilities 97

Utilities Health Savings Account Benefits Package Medical 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

InterWest Insurance Services

MARCH 7, 2024

If you have staff with health savings accounts, they still have until April 15 to make additional contributions to their accounts if they want to reduce their tax bills for last year. HSAs allow your employees to put away funds to pay for future medical expenses. Not everyone is eligible to participate in an HSA.

401(k) 98

401(k) Health Savings Account Pharmaceutical Deductions 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. 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? 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