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

WEX Inc.

MARCH 7, 2023

We wanted to share a few tips and reminders about the health savings account (HSA) information you’ll need for your tax return. Make sure your W-2 form shows HSA payroll contributions Provided by your employer, your W-2 shows the wages you earned and any taxes withheld. Subscribe to our blog on the right-hand side.

Taxes 98

Taxes Health Savings Account Deductions Deductible 98

Money Talk

APRIL 28, 2022

Methods include webinars, podcasts, blogs, television and radio shows, print media, websites, and more. Health Savings Accounts - One study found that the tax savings on many employees’ contributions to a health savings account (HSA) increases wealth by more than an employer match on the same employees’ 401(k) contributions.

401(k) 183

401(k) Health Savings Account Finance Retirement Plan 183

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? The information in this blog post is for educational purposes only. What are fertility benefits? Here are a few to-dos for you.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

SEPTEMBER 14, 2023

When approaching open enrollment, do … Evaluate available health insurance plans. Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans. If your employer offered you a raise, you wouldn’t say no, right?

401(k) 98

401(k) Health Savings Account Flexible Spending Account Healthcare 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? WEX receives compensation from some of the merchants identified in its blog posts. How’s your sunscreen stock?

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

InterWest Insurance Services

JULY 13, 2023

Employers who were surveyed for a new report expected that group health insurance premiums would increase 5.4% In fact, 64% of large employers (with 500 or more workers) plan to enhance their health insurance and well-being benefits to stay competitive for talent and to keep their staff happy, Mercer found. copay plan).

Employment 93

Employment Out of Pocket Cost Health Insurance Health Savings Account 93

WEX Inc.

MAY 28, 2024

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 52

Health Savings Account Medical Retirement Plan Taxes 52

WEX Inc.

MAY 8, 2023

HDHP vs. PPO deductible Nearly two-thirds of large employers provide their employees with the choice of an HDHP and a traditional health plan , such as a preferred provider organization (PPO). The information in this blog post is for educational purposes only. So, what are the big differences between the two?

Deductions 97

Deductions Deductible Health Savings Account Employee Enrollments 97

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. Turns out Health Reimbursement Accounts are confusing for employees and employers. Top 8 places to use your Health FSA.

Flexible Spending Account 40

Flexible Spending Account Flexible Spending Health Savings Account Taxes 40

WEX Inc.

OCTOBER 4, 2023

The 20th anniversary of health savings accounts (HSAs) marks a significant milestone for these accounts, which have empowered tens of millions of Americans to save for both immediate and future medical expenses. The information in this blog post is for educational purposes only.

Health Savings Account 64

Health Savings Account Healthcare Education Taxes 64

WEX Inc.

MAY 17, 2023

Health savings account (HSA) contribution limits are on the rise again in 2024. The information in this blog post is for educational purposes only. WEX receives compensation from some of the merchants identified in its blog posts. 2024 HDHP minimum deductible and maximum out-of-pocket limits also are increasing.

Health Savings Account 98

Health Savings Account Deductions Deductible Taxes 98

InterWest Insurance Services

MARCH 16, 2023

Large employers are unwavering in their plans to continue offering group health plans to their workers instead of funding individual reimbursement accounts that would allow them to shop for plans on government-run exchanges, according to new research.

Health Insurance 96

Health Insurance Employment Out of Pocket Cost Health Savings Account 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. Under IRS rules, for 2023 employers and employees can contribute a combined $3,850 for single employees and $7,750 for families.

401(k) 92

401(k) Health Savings Account Pharmaceutical Deductions 92

WEX Inc.

JULY 20, 2023

Nearly two-thirds of large employers offer their employees a choice between an HSA-eligible health plan (also known as a high-deductible health plan ) and a traditional health plan. Check out our infographic below and subscribe to our blog so you don’t miss the rest of our open enrollment series!

Deductions 75

Deductions Deductible Flexible Spending Account Health Savings Account 75

WEX Inc.

MAY 24, 2023

Often, employees feel confused about their benefits plans options, especially if their employer is using “complicated HR jargon” in their benefits messaging. Let’s explore tips on how employers can effectively communicate benefits messaging to employees in a way that’s relatable and easy to understand. It is not legal or tax advice.

Flexible Spending Account 97

Flexible Spending Account Health Savings Account Benefit Providers Flexible Spending 97

WEX Inc.

MAY 8, 2024

For example, My HSA Planner makes learning about how to utilize health savings accounts (HSAs) a breeze. Another plan that has gained popularity in recent years is lifestyle spending accounts (LSAs). Employer contributions to HSAs can also serve as powerful incentives. It is not legal or tax advice.

Health Savings Account 52

Health Savings Account Benefits Package Healthcare Voluntary Benefits 52

WEX Inc.

OCTOBER 12, 2023

As an employer, providing a robust employee benefits package is only half the battle. Health savings accounts (HSAs) HSA participants save money by contributing funds to their HSA pre-tax. Blog posts and podcasts: Share blog posts and record podcasts that delve into the value of LSA. Download now!

Education 52

Education Health Savings Account Consulting Taxes 52

WEX Inc.

SEPTEMBER 25, 2023

A great example of this is education at summertime around how to maximize your health savings account (HSA) dollars for typical hot weather spending such as sunscreen and aloe vera! However, less than half of benefit-eligible employees actually take advantage of employer-offered benefits. It is not legal or tax advice.

Voluntary Benefits 98

Voluntary Benefits Health Savings Account PTO Retirement Plan 98

Money Talk

MAY 18, 2022

In an earlier blog post , I described 12 tax planning topics for 2022. Ramp Up Retirement Savings - Consider increasing retirement savings in a tax-deferred employer retirement savings plan (e.g., Saving even 1% more of pay can make a difference in later life. 401(k), 403(b), and traditional IRA).

Taxes 262

Taxes 401(k) Deductions Deductible 262

WEX Inc.

APRIL 3, 2023

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 52

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

InterWest Insurance Services

MAY 16, 2024

The dip, while seemingly small, represents millions of workers that have opted for other plans as employers are offering a greater variety of plans to their employees, including preferred provider organizations (PPOs) and health maintenance organizations. The many benefits of HSAs Employees contribute pre-tax dollars to the account.

401(k) 91

401(k) Deductions Deductible Health Savings Account 91

InterWest Insurance Services

FEBRUARY 20, 2024

With more than half of all private sector employees enrolled in high-deductible health plans , it’s important that employers have in place certain protocols to ensure that they are a success. HSAs are tax-advantaged accounts that allow enrollees to save up to pay qualified medical expenses.

Deductions 93

Deductions Deductible Out of Pocket Cost Health Savings Account 93

WEX Inc.

AUGUST 2, 2023

A FSA is an account that allows you to set aside pre-tax funds to pay out-of-pocket healthcare costs. FSAs are an employer-owned account , and the IRS sets limits on annual FSA contributions. Employers can provide either a grace period to use the money within the plan year, or a carryover of up to $610 from the plan year.

Flexible Spending Account 98

Flexible Spending Account Deductions Deductible Health 98

Benefit Resource Inc.

MARCH 28, 2024

Pre-tax benefits are a powerful tool for saving money and maximizing your income. From flexible spending accounts (FSAs) to health savings accounts (HSAs) and commuter benefits, these options offer significant advantages if managed wisely. This includes copayments, deductibles, prescriptions, and more.

Flexible Spending Account 52

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

WEX Inc.

SEPTEMBER 12, 2023

If you’ve never been asked if you would like to participate in an employee benefits account before, you might be asking yourself, “What are all these acronyms?” Click here for the first blog post in our series on choosing a health plan for the first time. Funds you or your employer contribute to your HSA can help with this.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Life Insurance 52

WEX Inc.

JANUARY 4, 2023

And election of COBRA can affect your ability to use the reimbursement accounts in which you were participating prior to your COBRA eligibility. In this blog post, we outline some of the ways your ability to use your employee benefits changes when you elect COBRA. The information in this blog post is for educational purposes only.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

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

WEX Inc.

AUGUST 24, 2023

This could include saving money, raising their kids, and preparing for retirement. 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. That’s what motivates your employees.

Education 52

Education Flexible Spending Account Health Savings Account Flexible Spending 52

PeopleKeep

SEPTEMBER 26, 2022

HDHPs can come with significant savings for employers and employees, especially if you maximize them. According to a KFF Employer Health Benefits Survey 1 , 22% of large employers choose HDHPs with added savings options, such as a health savings account (HSA) or a health reimbursement arrangement (HRA).

Deductions 52

Deductions Deductible Health Savings Account Health Insurance 52

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. Consider offering tools that estimate potential savings based on different expense levels, showcasing the value of even minor contributions to an FSA. Download now!

Flexible Spending Account 98

Flexible Spending Account Take Home Pay Flexible Spending Healthcare 98

WEX Inc.

APRIL 12, 2023

Health saving accounts (HSAs) offer an excellent opportunity for participants to save money on healthcare expenses and for employers to support their employees’ wellness needs in a cost-efficient way. With employer-sponsored health plans, there’s fiduciary oversight. Follow DOL claims procedures.

Health Savings Account 52

Health Savings Account Deductions Deductible Flexible Spending Account 52

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 94

Deductions Deductible Family and Medical Leave Act Health Savings Account 94

InterWest Insurance Services

DECEMBER 7, 2023

Also, employees will be able to carry over up to $640 next year into 2025 if they have funds left over in their account, if their employer allows it (it’s optional). Anything above the limit at the end of the year is forfeited back to the employer. Employees are not taxed on withdrawals from their account.

Flexible Spending Account 93

Flexible Spending Account Flexible Spending Pharmaceutical Health Savings Account 93

InterWest Insurance Services

JANUARY 17, 2023

There are a number of issues that Medicare-eligible workers face that your human resources staff may be asked about, such as: Penalties for late Medicare enrollment, Whether the employer plan is the primary or secondary payer of claims, and. How Medicare eligibility affects health savings accounts.

Health Insurance 86

Health Insurance Insurance Health Savings Account Hospitality 86

WEX Inc.

JULY 7, 2023

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. Employers determine whether their medical FSAs include a carryover. So what is the use-or-lose rule? What is a FSA?

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account IT 52

Benefit Resource Inc.

DECEMBER 30, 2022

Pre-tax benefits are growing in popularity amongst employers and employees alike. This is because they offer a great way to save on taxes while still being able to use funds for medical, dependent care, and other expenses. An HSA (Health Savings Account) is a great way to save up money tax-free for future medical expenses.

Taxes 75

Taxes Flexible Spending Account Health Savings Account Flexible Spending 75