Proskauer's Employee Benefits & Executive Compensa

OCTOBER 25, 2022

On October 21 st , the IRS released a number of additional inflation adjustments for 2023, including to certain limits for qualified retirement plans. Earlier last week, the IRS announced the 2023 inflation adjustments for Flexible Spending Accounts and transportation fringe benefits, as discussed here. 15,000.

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Retirement Plan 401(k) Flexible Spending Account Flexible Spending 52

McDermott Will & Emery Employee Benefits

NOVEMBER 10, 2023

On November 9, 2023, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the applicable dollar limits for certain health and welfare plan benefits, including those for health flexible spending arrangements and commuter benefit plans, among other important updates.

Health and Welfare 82

Health and Welfare Employee Benefits Flexible Spending Flexible Spending Account 82

WEX Inc.

JANUARY 3, 2023

2023 HSA limits announced The IRS announced significant increases to HSA contribution limits in 2023 as a result of rising inflation. Self-only HSA participants can contribute up to $3,850, while family HSA participants can set aside $7,750 in 2023. The post Happy 2023! This blog post will help you decide.

Education 52

Education Flexible Spending Account Health Savings Account Flexible Spending 52

Griffin Benefits

NOVEMBER 1, 2022

The IRS has finally announced adjustments to 2023 contribution limits on various tax-advantaged health and dependent care spending accounts, retirement plans, and other employee benefits such as adoption assistance and transportation benefits. Employees can deposit an incremental $200 into their Health Care FSAs in 2023.

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401(k) Retirement Plan Health Savings Account Deductions 82

McDermott Will & Emery Employee Benefits

OCTOBER 21, 2022

The Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social Security wage base for 2023.

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Employee Benefits Flexible Spending Account Employment Health Savings Account 80

CorpStrat

OCTOBER 26, 2022

workers reported that they will cut back on the Benefits they select during 2023’s Open Enrollment because of inflation. Let’s take the Health FSA Limit Increase for 2023 as an example. The post Inflation’s Impact on 2023 Open Enrollment appeared first on CorpStrat: HR | Payroll | Employee Benefits.

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Flexible Spending Account Finance Flexible Spending Salary 52

AssuredPartners

OCTOBER 13, 2022

As a result of this Notice, on and after January 1, 2023, participants in a Sec. Pending any additional guidance, these changes will officially go into effect on or after January 1, 2023. August 2, 2022: ACA Affordability Rates Announced for 2023 125 of the Internal Revenue Code (IRC) to align with the conditions of this Notice.

Health Insurance 98

Health Insurance Benefit Providers Flexible Spending Insurance 98

AssuredPartners

OCTOBER 18, 2022

2022-38 the annual inflation adjustments for the 2023 tax year. For 2023, the dollar limit cap is permitted to increase (by $200) from $2,850 to $3,050. For example, an employer could opt to cap employee contributions for 2023 at $2,500 instead but cannot set the limit at $3,100 in defiance of the ACA’s provisions.

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Healthcare Flexible Spending Account Health Savings Account Flexible Spending 52

PeopleKeep

MAY 8, 2024

According to a 2023 Gallup survey, more Americans ate less healthy, had higher cholesterol, and received more diabetes diagnoses than before the COVID-19 pandemic 2. General wellness is becoming a top concern for Americans. Out of 169 countries, the U.S. ranks 35th for overall citizen health 1.

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Flexible Spending Account Health Savings Account Flexible Spending Food 52

Benefit Resource Inc.

OCTOBER 19, 2023

The results of BRI’s 2023 Participant Survey are in! Download Summary Results Audience Breakdown BRI’s 2023 Participant Survey was conducted from August 10th to September 1st. Download Summary Results Audience Breakdown BRI’s 2023 Participant Survey was conducted from August 10th to September 1st. 7% use a digital wallet.

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Flexible Spending Account Health Savings Account Utilities Flexible Spending 52

WEX Inc.

JULY 9, 2023

A dependent care flexible spending account lets participants set aside pre-tax dollars to help pay for dependent care. Big savings potential Let’s say you enroll and contribute $5,000 per year into a dependent care FSA in 2023. For married couples who file taxes separately, the 2023 limit is $2,500 per person per year.

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Flexible Spending Account Flexible Spending Taxes Consulting 98

Money Talk

MAY 18, 2022

Normal” tax rules apply in 2022, however, which may require a withholding change for many families to avoid getting a smaller refund, or owing tax, in 2023. The deadline for making 2022 SEP contributions is the tax filing deadline in April 2023. To do this, file a new W-4 form or make larger estimated payments.

Taxes 262

Taxes 401(k) Deductions Deductible 262

WEX Inc.

FEBRUARY 15, 2023

Did you recently elect to participate in a medical flexible spending account (FSA) ? What is a medical flexible spending account (FSA)? The 2023 contribution limit for medical FSAs is $3,050 per year. If you’re a first-time medical FSA participant, you may not be familiar with FSA definitions and rules.

Medical 98

Medical Flexible Spending Account Flexible Spending Taxes 98

McDermott Will & Emery Employee Benefits

OCTOBER 19, 2022

The maximum salary reduction limit for a health flexible spending account (Health FSA) increased to $3,050 for 2023 (from $2,850 in 2022), and the Health FSA carryover […]. The post IRS Announces Cost-of-Living Adjustments for Health and Welfare Plans appeared first on EMPLOYEE BENEFITS BLOG.

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Health and Welfare Flexible Spending Account Flexible Spending Salary 78

Benefit Resource Inc.

SEPTEMBER 28, 2023

Jason Hall, Benefit Resource CEO & 2023 Luminaries Honoree Jason Hall, our esteemed leader, was also recognized in the Leadership category. The post BRI and Our CEO Selected for the BenefitsPRO Luminaries Class of 2023 appeared first on BRI | Benefit Resource.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Taxes Flexible Spending 52

International Foundation of Employee Benefit Plans

MAY 17, 2023

According to a survey from The […] The post Workplace Benefits Valedictorians: What the Graduating Class of 2023 Want appeared first on Word on Benefits. and Canadian college graduates over the years.

Health Insurance 67

Health Insurance Insurance Employee Benefits Flexible Spending Account 67

WEX Inc.

AUGUST 14, 2023

A flexible spending account (FSA) carryover is one way you can provide flexibility to employees who participate in these accounts. The IRS permits employers to allow their employees to carry over up to $610 from their 2023 FSA (indexed annually, per IRS rules). We break down FSA carryovers below.

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Flexible Spending Account IT Flexible Spending Taxes 98

Benefit Resource Inc.

OCTOBER 18, 2022

The IRS released the 2023 contribution limits for Mass Transit and Parking, Medical FSA, and Adoption Assistance in Revenue Procedure 2022-38. The limits are effective for plan years that begin on or after January 1, 2023. 2023 CONTRIBUTION LIMIT: MASS TRANSIT AND PARKING. 2023 CONTRIBUTION LIMIT: MEDICAL FSA.

Medical 52

Medical Taxes Flexible Spending Employment 52

Genesis HR Solutions

MAY 23, 2023

As our team’s senior HR business partner, I’ve noticed several new and interesting hiring trends in 2023 in addition to some of the standard practices of the past. Hiring Trends In 2023 Below, I present hiring trends across various categories to help you formulate a comprehensive approach that works best for you. up from 8.6%

Insurance 40

Insurance PTO Flexible Spending Human Resources 40

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. HSA Medical FSA This blog post was originally published in August 2022 and most recently updated in August 2023.

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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

Benefits Notes

NOVEMBER 21, 2023

On November 1, 2023, the Internal Revenue Service (IRS) released Notice 2023-75 , which sets forth the 2024 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The 2023 limits are provided for reference. The following chart summarizes the 2024 limits for benefit plans.

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401(k) Health Savings Account Retirement Plan Deductions 52

WEX Inc.

JULY 7, 2023

The IRS’ use-or-lose rule governs flexible spending accounts (FSAs). A flexible spending account (FSA) is an employer-sponsored benefit that allows employees to set aside a portion of their pre-tax salary to pay for qualified medical expenses or dependent care expenses. So what is the use-or-lose rule? What is a FSA?

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Flexible Spending Account Flexible Spending Health Savings Account IT 52

Benefit Resource Inc.

OCTOBER 31, 2022

Commuter benefits, flexible spending accounts, dependent care, and health savings accounts are just a few of the great employee benefits available to help you save money and reduce stress. And with commuter benefits, you can set aside up to $270 per month pretax ($280 per month in 2023) to pay for your commute.

Taxes 75

Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

InterWest Insurance Services

NOVEMBER 25, 2022

The IRS has released the 2023 maximum contribution amounts for health savings accounts and flexible spending accounts. Here’s the rundown of the changes going into 2023: HSAs and HDHPs. For 2023, the annual maximum HSA contribution is: $3,850 for self-only coverage (up $200 from 2022); and.

401(k) 88

401(k) Deductions Deductible Flexible Spending Account 88

Vantage Circle

SEPTEMBER 11, 2023

5 Source Features Health, dental, and vision insurance Life and disability insurance 401(k) retirement plans Health savings accounts Flexible spending accounts Workers’ compensation insurance Commuter benefits, gym memberships, and mental health assistance.

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Employee Benefits Payroll Retirement Plan Software 52

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. This blog post was originally published in July 2021 and was most recently updated in August 2023.

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Flexible Spending Account Deductions Deductible Health 98

Benefit Resource Inc.

APRIL 11, 2023

The National Emergency was terminated effective April 10, 2023, placing the Outbreak Period’s end as June 9, 2023.  Taking into consideration the 12 months and the official Pandemic period ending as of April 10, 2023. The last day to submit claims would be September 7, 2023.

Flexible Spending Account 52

Flexible Spending Account Healthcare Flexible Spending Employment 52

CorpStrat

FEBRUARY 22, 2023

In 2023, having some money set aside to cover these out-of-pocket costs is critical for most employees. A Flexible Spending Account at its core is a tool that allows an individual to set aside money to pay these out of pocket expenses with pre-tax dollars allocated for the year. Healthcare costs have risen faster than inflation.

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Flexible Spending Account Out of Pocket Cost Flexible Spending Deductions 52

WEX Inc.

FEBRUARY 2, 2023

Earlier this week, President Biden informed Congress that he plans to end the two COVID-19 national emergencies on May 11, 2023. FSAs and HRAs EBSA Disaster Relief Notice 2020-01 also granted a temporary extension to run-out periods for flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs).

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Flexible Spending Account Health Savings Account Flexible Spending Taxes 52

Higginbotham

NOVEMBER 15, 2023

IRS Announces 2024 FSA, Retirement Plan Limits Earlier this month, the Internal Revenue Service (IRS) released cost-of-living adjustments and inflation-adjusted limits for 2024 that affect amounts employees can contribute to health flexible spending accounts (FSAs), 401(k) plans and individual retirement accounts (IRAs).

401(k) 52

401(k) Retirement Plan Flexible Spending Account Insurance 52

WEX Inc.

AUGUST 24, 2023

It’s important not to lose sight of that when developing content and communicating that you offer a health savings account (HSA) , flexible spending account (FSA) , or any other benefits. employees planning to leave their jobs in 2023. That’s what motivates your employees.

Education 52

Education Flexible Spending Account Health Savings Account Flexible Spending 52

Benefit Resource Inc.

MARCH 20, 2024

In 2023, BRI was acquired by Millennium Trust, a leading provider of health, wealth, retirement, and benefits solutions. Being named Partner of the Year recognizes BRI’s dedication to providing seamless integration with ADP solutions, delivering a more unified experience for organizations and their employees.

Health Savings Account 52

Health Savings Account Flexible Spending Account Flexible Spending Taxes 52

Higginbotham

SEPTEMBER 12, 2023

Pay or Play Affordability Percentage Decreased for 2023 On Aug. 23, 2023, the IRS issued Revenue Procedure 2023-29 to index the contribution percentages in 2024 for determining the affordability of an employer’s plan under the Affordable Care Act (ACA). percent in 2023). 15, 2023 – i.e. – by October 14.

Electronics 52

Electronics Overtime Flexible Spending Account Salary 52

Higginbotham

NOVEMBER 2, 2022

Employee Benefit Plan Limits for 2023. The following commonly offered employee benefits are subject to these limits: High deductible health plans (HDHPs) and health savings accounts (HSAs); Health flexible spending accounts (FSAs); 401(k) plans; and. Click here to view the plan limits.

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

Higginbotham

MAY 11, 2023

On March 30, 2023, the U.S. It filed a notice of appeal on March 31, 2023, and a motion for a stay on April 12, 2023. Accordingly, on April 13, 2023, the Departments of Labor, Health and Human Services, and the Treasury (Departments) issued frequently asked questions (FAQs) in response to this case.

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Flexible Spending Account Health Savings Account Deductions Deductible 52

AssuredPartners

NOVEMBER 12, 2021

For cafeteria plans that allow for the carryover of unused amounts, the maximum carryover amount is now permitted to increase by $20, now capped at $570 (for 2022 rollovers into 2023 plans). For 2022, the dollar limit cap is permitted to increase (by $100) from $2,750 to $2,850.

Healthcare 73

Healthcare Flexible Spending Account Health Savings Account Flexible Spending 73

PeopleStrategy

DECEMBER 6, 2023

For example, 63% of employers say they’re focused on enhancing mental health and well-being programs for the foreseeable future, according to recent findings from Willis Towers Watson’s (WTW) 2023 Best Practices in Healthcare Survey. And that is despite rising health care costs.

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