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.

Health and Welfare 80

Health and Welfare Flexible Spending Account Flexible Spending Salary 80

Benefit Resource Inc.

APRIL 10, 2024

As we navigate the intricate world of employee benefits, it’s crucial to ensure that we’re taking full advantage of the offerings available to us. One often underutilized but immensely valuable benefit is the dependent care account (DCFSA). What is a Dependent Care Flexible Spending Account (DCFSA)?

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Benefit Resource Inc.

JANUARY 2, 2020

As we close out the decade, we look back at the most educational, news breaking blogs. From tax reform to how-to articles, here are the top 10 blogs from Benefit Resource: Check Your Balance. This post incorporated statistics from Benefit Resource’s inaugural Employee Benefits Fluency Survey.

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Flexible Spending Account Flexible Spending Health Savings Account Taxes 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. For more insights about HSAs or FSAs, subscribe to our blog or check out our eligible expense list.

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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

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)? A medical FSA is a tax-advantaged employee benefit that gives participants the opportunity to save on out-of-pocket medical, dental, and vision eligible expenses.

Medical 98

Medical Flexible Spending Account Flexible Spending Taxes 98

WEX Inc.

AUGUST 29, 2023

Reasons can vary, which is why wide-ranging fertility benefits can also improve the lives of any adult wanting to start a family. 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? What are fertility benefits?

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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

SEPTEMBER 21, 2023

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. The information in this blog post is for educational purposes only. It is not legal or tax advice. The post Vision expenses piling up?

Health 98

Health Flexible Spending Account Health Savings Account Flexible Spending 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? Sunscreen There’s a good chance you’re planning on spending some time in the sun over the next few months. How’s your sunscreen stock?

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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

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. Read our blog posts on grace periods and run-out periods for the rest of the series. This blog was originally published in August 2021 and most recently updated in August 2023.

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Flexible Spending Account IT Flexible Spending Taxes 98

WEX Inc.

FEBRUARY 23, 2023

And just because you have an entire plan year ahead doesn’t mean you should wait until November or December to put time and energy into your employee benefits. 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.

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WEX Inc.

JULY 7, 2023

The IRS’ use-or-lose rule governs flexible spending accounts (FSAs). This rule is one of the big differentiators between FSAs and other types of employee benefits. Check out our Benefits Buzz episode for a breakdown of eight things you should know about them. 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

WEX Inc.

JULY 9, 2023

A dependent care flexible spending account lets participants set aside pre-tax dollars to help pay for dependent care. Contributing to this benefit reduces taxable income and spreads the benefits of pre-tax dollars throughout the year, helping you save 30 percent or more on your dependent care costs.

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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. Both HSAs and FSAs have their advantages and limitations.

401(k) 98

401(k) Flexible Spending Account Health Savings Account Flexible Spending 98

WEX Inc.

AUGUST 15, 2023

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. Subscribe to our blog to stay updated on all the benefits information you need!

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Deductions Deductible Healthcare Flexible Spending Account 98

WEX Inc.

MAY 4, 2023

The IRS requires your flexible spending account (FSA) participants to submit documentation to prove their purchase was an eligible expense. The information in this blog post is for educational purposes only. WEX receives compensation from some of the merchants identified in its blog posts. It is not legal or tax advice.

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Flexible Spending Account Flexible Spending Taxes Medical 98

WEX Inc.

SEPTEMBER 7, 2023

Most employees are about to have the opportunity to re-evaluate their benefits options during open enrollment. Flexible spending accounts (FSAs) are a powerful tool for individuals and employers to save money on healthcare and dependent care expenses. The information in this blog post is for educational purposes only.

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Qandle

JUNE 20, 2023

Benefits and Deductions: Collect information related to employee benefits and deductions, such as health insurance, retirement contributions, flexible spending accounts, loan repayments, or garnishments. A detailed overview appeared first on The Qandle Blog. The post What are The Pre-Payroll activities?

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Benefit Resource Inc.

DECEMBER 30, 2022

Choosing between a Health Savings Account (HSA) and a Flexible Spending Account (FSA) can be overwhelming. Both accounts have their own unique features and benefits, but understanding when each is most appropriate can help simplify the choice. The Importance of Customized Benefits. visit bri blog. learn more.

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Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

WEX Inc.

MAY 24, 2023

“I think it’s really important to tie it back to things that are meaningful to [employees]….their It’s about what a health savings account or a flexible spending account can do for them." Increase communication One main reason why employees don’t understand their benefits is a lack of communication from their employers.

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Flexible Spending Account Health Savings Account Benefit Providers Flexible Spending 97

WEX Inc.

SEPTEMBER 14, 2023

Use available tools and resources to learn more about pre-tax benefits and to plan for the year ahead. An informative blog , educational videos and savings and goal calculators make it easy for you to determine your plan elections. Treat your approach to benefits plans the same when making open enrollment decisions.

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401(k) Health Savings Account Flexible Spending Account Healthcare 98

InterWest Insurance Services

MARCH 22, 2022

One way you can give your staff more choice in the employee benefits they receive is to offer them a cafeteria plan, which allows them to put together a benefits package that works best for them. Employers fund these flexible benefit plans with funds that are deducted from their employees’ salaries on a pre-tax basis.

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Flexible Spending Account 401(k) Flexible Spending Deductions 95

WEX Inc.

MARCH 20, 2023

Your benefits administrator may also offer non-discrimination testing , which is required for flexible spending accounts (FSAs) , health reimbursement arrangements (HRAs) , and more. Do our employees understand and value their benefits? The information in this blog post is for educational purposes only.

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Benefit Resource Inc.

OCTOBER 21, 2019

” In the case of pre-tax benefits, we like to say “There’s a plan for that” Regardless of your benefits problem, by comparing Flexible Spending Accounts, Health Savings Accounts and Health Reimbursement Accounts, you can find the right plan to fit your needs. Problem: Varying insurance products.

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Flexible Spending Account Health Savings Account Flexible Spending 401(k) 40

McDermott Will & Emery Employee Benefits

NOVEMBER 9, 2022

The post Fun For the Whole Family: More ACA Subsidies Apply appeared first on EMPLOYEE BENEFITS BLOG.

Taxes 80

Taxes Flexible Spending Account Employee Benefits Employment 80

WEX Inc.

SEPTEMBER 6, 2023

HSAs and FSAs: Service dog expenses Health savings accounts (HSAs) and flexible spending accounts (FSAs) may provide an additional avenue for covering the cost of a service dog. Learn more about the benefits of a pet-friendly workplace. The information in this blog post is for educational purposes only.

Recruitment 59

Recruitment Flexible Spending Account Health Savings Account Medical 59

InterWest Insurance Services

NOVEMBER 25, 2022

The IRS has released the 2023 maximum contribution amounts for health savings accounts and flexible spending accounts. You’ll want to make note of the changes when discussing your employee benefits during annual open enrollment.

401(k) 98

401(k) Deductions Deductible Flexible Spending Account 98

InterWest Insurance Services

SEPTEMBER 27, 2023

With answers and feedback in hand you can create a benefits package that is more appealing to them, which in turn gives you a competitive edge when attracting and retaining workers. Engage employees and solicit feedback through quarterly employee-benefits round table meetings.

Out of Pocket Cost 91

Out of Pocket Cost Flexible Spending Account Health Savings Account Health Insurance 91

WEX Inc.

APRIL 12, 2023

First, employees need to be covered by an HSA-eligible health plan, otherwise known as a high-deductible health plan (HDHP). They can’t be covered by any other health plan that would disqualify them from an HSA, such as a spouse’s plan or a medical flexible spending account (FSA). It is not legal or tax advice.

Health Savings Account 52

Health Savings Account Deductions Deductible Flexible Spending Account 52

InterWest Insurance Services

JULY 20, 2022

It always takes more time than usual to onboard new employees — particularly ones who are new to the workforce altogether — to your employee benefits plans. The freebies — Under the Affordable Care Act, health plans are required to cover a list of 10 essential services, particularly preventative procedures like colonoscopies.

Education 98

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Benefit Resource Inc.

MAY 9, 2023

This blog post will update you on what tradeshows we’ve been to and what shows we plan to attend. For those always on the lookout for the latest employee benefits, this post is for you! We recently attended several industry gatherings and plan to attend more in the near future.

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Benefit Resource Inc.

MARCH 2, 2021

We discuss this further in our blog “ Why aren’t masks and PPE items eligible expenses? If you are a user with Benefit Resource, you can view the Eligible Expenses Table through your online account. SHRM 2019 Employee Benefits Survey Executive Summary. Vitamins.

Taxes 76

Taxes Healthcare Medical Flexible Spending 76

AssuredPartners

MARCH 31, 2020

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Health and Welfare 52

Health and Welfare Health Savings Account Out of Pocket Cost Flexible Spending Account 52

Benefit Resource Inc.

OCTOBER 30, 2018

The BRight Ideas Quiz administered by Benefit Resource, Inc. in 2017 revealed several key areas within pre-tax benefits where participant understanding needs improvement. In this section, we’ll explore areas related to Flexible Spending Accounts, Health Savings Accounts, and Health Reimbursement Accounts.

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Flexible Spending Account Taxes Health Savings Account Healthcare 56

Vantage Circle

FEBRUARY 12, 2024

There's a science to selecting benefits that effectively balance employer budgets and employee priorities. An interactive employee benefits survey is your secret to achieving this elusive synergy. What are Employee Benefits Surveys? In short, employee benefits surveys achieve the coveted win-win.

Employee Benefits 59

Employee Benefits Family and Medical Leave Act Parental Leave Benefits Package 59

Proskauer's Employee Benefits & Executive Compensa

FEBRUARY 7, 2022

A few short weeks ago we told you in a blog post that, with only four days’ notice, the Departments of Labor, Treasury, and HHS (the Departments) required that, starting January 15, 2022, group health plans cover FDA-approved over-the-counter (OTC) at-home COVID-19 tests without participant cost-sharing, preauthorization, or medical management, regardless (..)

Retail 52

Retail Manufacturing Medical Flexible Spending Account 52

Empuls

JULY 11, 2023

Alongside competitive salaries and career growth opportunities, companies are now offering a wide array of tax free or non taxable employee benefits to attract and retain top talent. These perks not only provide employees with financial advantages but also contribute to a more fulfilling and enjoyable work experience.

Employee Benefits 40

Employee Benefits Flexible Spending Account roth 401(k) 401(k) 40

WEX Inc.

MAY 2, 2024

Employees are able to pair a health reimbursement arrangement with any group health plan. Those enrolled in an HSA or a medical flexible spending account (FSA) may also be able to enroll in certain types of HRAs. HSA funds can be invested in mutual funds as you would with a 401(k), which lets employees grow their dollars.

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Health Savings Account 401(k) Flexible Spending Account Taxes 96