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5 benefits trends to watch in 2020

Benefit Resource Inc.

Incorporating lifestyle components into pre-tax accounts. So, how will this affect tax advantaged accounts like Flexible Spending Accounts and Health Reimbursement Accounts? Tools like HSA Bridge allows employees to pay for qualified expenses with tax-free money before their HSA balance has built up.

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Executive benefit reimbursement plans

Higginbotham

According to the Commonwealth Fund , more than one in 20 Americans under the age of 64 spent at least $1,700 on out-of-pocket medical expenses in 2017. HRAs may sound like Health Savings Accounts (HSAs) or Flexible Spending Accounts (FSAs), but there are key differences. The Tax Benefits of Health Reimbursement Arrangements.

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Enrolling in benefits creates a level of stress that’s scary

Benefit Resource Inc.

According to the 2017 Benefits Communication Survey from Jellyvision, almost half of employees report enrolling in benefits as “always very stressful” That’s scary. When it comes to pre-tax benefits specifically, we found three areas that are common culprits: Gaps in understanding of pre-tax benefits.

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Basics of Tax-Efficient Investing

Money Talk

This phrase was designed to encourage investors to buy tax-free municipal bonds that provide a higher after-tax return than higher-yielding taxable bonds. In a more general way, the advertisement was also promoting the concept of tax-efficient investing. no tax for New Jersey residents on a New Jersey-issued bond).

Taxes 188
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Compliance and Tax Round-Up (CA, DC, MA, NJ, RI, VT) – State Mandates and FSA/DCAP Changes for 2020

AssuredPartners

The US Supreme Court ruled that the ACA individual mandate penalty (tax) was constitutional in 2012, and in December of 2017, Congress passed the Tax Cuts and Jobs Act, which reduced the individual mandate penalty to zero as of January 1, 2019. In fact, Massachusetts has been taxing its citizens since 2007.nIn

Taxes 52
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The intersection of health, technology and benefits

Benefit Resource Inc.

What can your tax-free health account get you this year? Diabetes equipment for staying on top of your blood sugar… Multiple diabetic supplies are available for purchase through your Flexible Spending Account. It was also listed as the #1 beauty breakthrough product of 2017 by Cosmo. More accurate monitoring.

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Help Employees Understand the HSA Value Proposition

Corporate Synergies

Employers that have gone the HDHP route typically offer a qualified plan that includes a health savings account to help pay for qualifying medical expenses tax-free. million accounts in 2006 to over 22 million at the end of 2017. In addition, employers can contribute tax-free dollars if they choose—all of which is employee money.

401(k) 40