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 Deductible 98

HR Lineup

OCTOBER 21, 2024

It focuses on the fundamentals of health insurance, making it highly relevant for benefits professionals responsible for health and wellness programs. Key Benefits: Specialized training in health insurance plans, products, and regulations. Covers medical, dental, vision, and other health-related benefits.

401(k) 77

401(k) Employee Benefits Retirement Plan Health Savings Account 77

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. Limited medical FSA, which covers eligible dental, vision and preventative care expenses.

Flexible Spending Account 98

Flexible Spending Account Deductible Deductions Health 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.

Flexible Spending Account 95

Flexible Spending Account Health Savings Account Flexible Spending Taxes 95

InterWest Insurance Services

OCTOBER 17, 2024

Besides looking for better health coverage, there’s growing interest among employees for voluntary benefits that can buffer health care costs, like critical illness, accident and dental and vision insurance.

Out of Pocket Cost 98

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

InterWest Insurance Services

JUNE 20, 2024

The IRS has announced significantly higher health savings account contribution limits for 2025, with the amount increasing 3.6% The IRS updates this amount annually, along with minimum deductibles as well as the out-of-pocket maximums for high-deductible health plans. for individual HSA plans. Medical devices.

Deductions 97

Deductions Deductible Health Savings Account Medical 97

InterWest Insurance Services

DECEMBER 7, 2023

Earlier in 2023, the IRS also announced the maximum contribution limits to health savings accounts, which are similar to FSAs, but they must be attached to a high-deductible health plan. An FSA must be funded exclusively through employer contributions or employee pre-tax contributions, or a combination of the two.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Pharmaceutical Health Savings Account 98

Best Money Moves

AUGUST 18, 2021

Over half of all Americans receive health insurance from their employers, according to 2019 census data. So it’s not surprising that in a 2020 survey of 2000 multigenerational participants, dental and vision insurance topped the list of most wanted Employee Benefits.

Health Insurance 111

Health Insurance Health Savings Account Insurance Benefits Package 111

Insperity

MAY 13, 2015

First and second time group health insurance buyers usually miss the opportunity to buy a health savings account (HSA)-qualified high-deductible health plan (HDHP). Health Savings Accounts. Pediatric dental and vision requirements aren’t what you thought.

Health Insurance 84

Health Insurance Insurance Out of Pocket Cost Health Savings Account 84

WEX Inc.

JULY 20, 2023

Smaller employers may face challenges in providing these options, although participants have said they are interested in these health plan choices. More dental and vision Among employers with benefits administration through WEX , 68% of eligible employees enrolled in vision and 77% of eligible employees enrolled in dental.

Deductible 75

Deductible Deductions Flexible Spending Account Health Savings Account 75

Benefit Resource Inc.

JUNE 18, 2019

A Limited FSA, or a Limited Purpose FSA, is one of several pre-tax accounts you may be able to sign up for through your company. It is used to pay for vision and dental expenses that are not covered by insurance. A Medical FSA can be used to pay for your out-of-pocket expenses related to medical care, dental care and vision.

Health Savings Account 63

Health Savings Account Health Medical Taxes 63

Benefit Resource Inc.

MARCH 31, 2022

You may be able to save on routine expenses, like preventative healthcare costs. As an FSA account holder, you have access to your entire annual amount as soon as you choose it, and it can be used for medical, dental & vision costs. Use-It-Or-Lose-It.

Medical 75

Medical Flexible Spending Account Health Savings Account Flexible Spending 75

PeopleStrategy

JULY 8, 2019

Ancillary benefits : these types of benefits are in addition to standard health coverage, and can include dental, vision care, life insurance and short- or long-term disability coverage. The cost for the employee is usually taken out of the employees’ paycheck on a monthly or bi-weekly basis and the employer covers the rest.

Health Savings Account 82

Health Savings Account Deductions Deductible Healthcare 82

Benefit Resource Inc.

MAY 27, 2021

A Limited Purpose FSA (also known as a Limited FSA or Limited Medical FSA) allows you to pay for dental and vision services with tax-free money. It’s a great partner plan if you have or want to enroll in a Health Savings Account (HSA). Orthodontia, including braces and retainers. Teeth grinding prevention devices.

Flexible Spending Account 75

Flexible Spending Account Flexible Spending Health Savings Account Health 75

Benefit Resource Inc.

APRIL 8, 2021

Routine health care costs for the year (e.g., Expected vision and dental care needs (e.g., Expected costs for the year related to routine healthcare, medical events, vision, dental, and child care expenses. A Health Savings Account to save on medical expenses. A 401(k) to save money for retirement.

401(k) 75

401(k) Health Health Savings Account Medical 75

Business Management Daily

NOVEMBER 15, 2021

While flexible spending accounts are typically associated with medical costs there are a couple of different types of FSAs. This allows you to use pre-tax dollars to cover copays, out-of-pocket medical, vision, or dental expenses, and purchase eligible health care products. Healthcare FSA. What Expenses Are Covered By an FSA?

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Medical Healthcare 98

Benefit Resource Inc.

JUNE 27, 2019

In honor of National Sunglasses Day, we wanted to highlight eligible vision expenses you can pay for with your pre-tax accounts. As an overview, a pre-tax account is a type of benefit your employer may offer to help you cover out-of-pocket expenses. There are a variety of different plans and accounts available.

Flexible Spending Account 63

Flexible Spending Account Health Flexible Spending Health Savings Account 63

Benefit Resource Inc.

DECEMBER 20, 2021

As the end of 2021 and the plan year looms, it’s crucial to consider what you can do with any remaining funds in your Flexible Spending Account (FSA). Unfortunately, unlike a Health Savings Account (HSA), you don’t get to keep your FSA money year after year.

Flexible Spending Account 75

Flexible Spending Account Health Savings Account Flexible Spending Medical 75

WEX Inc.

APRIL 25, 2024

This can make HDHPs a great option for saving on monthly payments. Health savings accounts Another great perk of HDHPs is they can be paired with health savings accounts (HSAs). An HSA is a tax-advantaged savings account that allows you to save money specifically for medical expenses.

Health Savings Account 52

Health Savings Account Deductible Deductions Out of Pocket Cost 52

Griffin Benefits

MARCH 16, 2022

As a result, many employers realize that a myopic focus on core benefits like health, dental, and vision shortchanges employees. Consider that 43% of employees spend time working on their personal finances while at work.

Flexible Spending Account 89

Flexible Spending Account Retirement Plan Health Savings Account Voluntary Benefits 89

InterWest Insurance Services

JULY 6, 2023

Virtual-only plans legislation Waivers created by the March 2020 CARES Act, an economic rescue package in response to the pandemic, have allowed individuals to choose and buy the use of telehealth services outside of their high-deductible health plan without affecting their health savings account eligibility.

Insurance 95

Insurance Out of Pocket Cost Hospitality Health Savings Account 95

Business Management Daily

DECEMBER 1, 2019

Best practice: List all benefits and deductions to determine whether they’re impacted: Medical, dental, life, vision, group-term life insurance, long-term disability, dependent care, flexible spending accounts and health savings accounts. Ditto for bonuses that are based on actual wages paid.

Payroll 83

Payroll 401(k) Deductions Deductible 83

PeopleKeep

FEBRUARY 7, 2020

For 2020, employees can contribute $2,750 to health FSAs, up from the 2019 limit of $2,700, the IRS said in Revenue Procedure 2019-44. The increase also applies to limited-purpose FSAs that are restricted to dental and vision care services, which can be used in tandem with health savings accounts (HSAs).

Health Savings Account 52

Health Savings Account Health 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. And, if you have an HDHP and an HSA, you can pair both with a limited FSA (which covers dental, vision and preventive-care expenses) for even more savings!

Deductible 52

Deductible Deductions Health Savings Account Flexible Spending Account 52

WEX Inc.

SEPTEMBER 7, 2023

Uncertain or limited healthcare costs The concern: If a person doesn't anticipate having many eligible medical or dependent care expenses during the year, they may feel that the potential savings from an FSA are not worth the effort of enrollment. What you can do: Highlight the flexibility of FSAs.

Flexible Spending Account 98

Flexible Spending Account Take Home Pay Flexible Spending Healthcare 98

Griffin Benefits

NOVEMBER 1, 2022

Together, these combined announcements by the IRS detail 2023 adjusted limits to the amounts employees can tuck away pretax into Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), transportation benefits, and retirement plans such as 401(k)s. FSA Employer Contribution Limits for 2023.

401(k) 85

401(k) Retirement Plan Health Savings Account Deductible 85

Genesis HR Solutions

SEPTEMBER 22, 2020

Vision Insurance. Vision insurance is designed to help your employees cover and budget for ongoing vision care expenses like routine eye exams, prescription glasses, and contact lenses. Flexible Spending Account (FSA). Health Savings Account (HSA). Bankrate.com ). Onboarding new hires?

401(k) 98

401(k) Employee Benefits Disability Insurance roth 401(k) 98

Best Money Moves

AUGUST 18, 2021

Over half of all Americans receive health insurance from their employers, according to 2019 census data. So it’s not surprising that in a 2020 survey of 2000 multigenerational participants, dental and vision insurance topped the list of most wanted Employee Benefits.

Health Insurance 83

Health Insurance Health Savings Account Insurance Benefits Package 83

CorpStrat

DECEMBER 4, 2024

Pairing high-deductible health plans (HDHPs) with Health Savings Accounts (HSAs) or adding wellness programs can help employees offset costs while staying engaged in their health. Proactively Address Premium Increases If your organization is facing premium increases, consider offering creative solutions.

Employee Benefits 52

Employee Benefits Employment Disability Insurance Health Savings Account 52

Benefit Resource Inc.

OCTOBER 11, 2018

A Medical FSA is a great savings tool if you have the same out-of-pocket medical expenses year-after-year. The funds in a Medical FSA can be used to cover both planned expenses (including medical , dental and vision ) and unplanned expenses (e.g. Health Savings Account. broken bones or a fever ).

Taxes 74

Taxes Health Savings Account Medical Deductions 74

Benefit Resource Inc.

OCTOBER 28, 2021

This account covers dental and vision expenses for himself, his many brides, and their offspring. Dracula can also enroll in a Health Savings Account (HSA) to pay for his other medical expenses. A Limited Purpose FSA makes those dental bills less of a pain-in-the-neck. …yeah, that doesn’t suck!

Taxes 75

Taxes Health Savings Account Bonuses Health 75

Benefit Resource Inc.

NOVEMBER 29, 2023

Additionally, you may also already have a built-in savings option to pay for your COBRA premiums. A health savings account is not only an important component to paying for medical expenses today, but it is a tool you can use throughout retirement.

401(k) 98

401(k) Medical Retirement Plan Health Savings Account 98

WEX Inc.

APRIL 24, 2023

Pre-tax benefits savings Premiums aren’t the only way you can save on healthcare costs. Pre-tax employee benefits plans, such as health savings accounts (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.

401(k) 52

401(k) Health Savings Account Deductible Deductions 52

Benefit Resource Inc.

OCTOBER 16, 2018

A Limited Flexible Savings Account (Limited FSA) allows you to pay for vision and dental services with tax-free money you set aside. A Limited FSA is typically elected alongside a Health Savings Account (HSA). Health Savings Account. You own the account. Limited FSA.

Health Savings Account 55

Health Savings Account Flexible Spending Account Flexible Spending Medical 55

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

Benefit Resource Inc.

APRIL 16, 2019

Health Savings Accounts (or HSAs) are sometimes confusing. This includes co-pays, co-insurance, prescriptions, dental, vision and other medical expenses. This is a two part series regarding Medicare. This post will focus on the impacts of HSAs and Medicare. Watch for Part 2 as we address Medicare and COBRA.

Deductible 80

Deductible Deductions Health Savings Account Taxes 80

Genesis HR Solutions

JANUARY 24, 2023

Employees don’t pay taxes on this money, which means they save an amount equal to the taxes they would have paid on the money you set aside. Dental, vision, and disability insurance. As an employer, you may make contributions to an FSA but you aren’t required to. The amount employees elect must be used in that plan year.

Family and Medical Leave Act 98

Family and Medical Leave Act Overtime Parental Leave Health and Welfare 98