Remove 2017 Remove Flexible Spending Remove Insurance Carriers Remove Taxes
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Baby Health Insurance Playbook: 5 Steps to Plan for a Newborn

Corporate Synergies

Patient financial responsibility is on the rise—average out-of-pocket costs rose 11% in 2017 alone. A flexible spending account (FSA), which can be used to cover childcare and medical costs tax-free. A health savings account (HSA), which can also be used to cover medical expenses tax-free.

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AMERICAN RESCUE PLAN ACT CONTAINS MANY EMPLOYEE BENEFITS RELATED PROVISIONS

Benefits Notes

The ARPA also allows the employer, insurer, or multiemployer plan sponsor who subsided the premiums to offset the cost by claiming a new federal tax credit. This includes self-funded and fully-insured plans, multi-employer plans, and governmental employer plans. The subsidy is tax-free to the individual receiving the subsidy.