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How HSAs can transform retirement planning and your common questions

WEX Inc.

And it’s a solution you might already be offering: the health savings account. These accounts provide another way for your employees to diversify their efforts to prepare for retirement. Despite all the options available, only 36 percent of non-retirees said in a 2019 survey that their retirement saving is on track.

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New COVID relief package extends payroll provisions

Business Management Daily

It includes extensions and expansions of payroll relief and another set of $600 checks payable to most taxpayers. The key payroll provisions include: An extension of the paid sick/ family leave provisions and your tax credit for providing leave. Extensions of popular payroll tax provisions. The overall price tag? Tax extenders.

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How will you cover health care expenses in retirement?

Benefit Resource Inc.

If you are currently employed, there is one change you can make to start saving: Enroll in a Health Savings Account (HSA). We’ll go over the three reasons why enrolling in an HSA might be the best option for you in order to save on health care expenses in retirement. The tax savings.

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Pre-Tax Benefits Explained Through Emojis ???????????

Benefit Resource Inc.

The limits for 2019 should be released later this month. Health Savings Account. A Health Savings Account is the only pre-tax benefit account that offers a triple tax benefit. Additionally, unlike other pre-tax accounts, an HSA does not have a specific window in which funds must be used.

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Top 10 Employee Benefits for 2021

Best Money Moves

Employers who don’t offer health insurance might want to reconsider and employers who do should audit their healthcare offerings to determine the out of pocket costs of deductibles, prescriptions, copays and then work with benefits brokers to provide better coverage. . 4 Paid Time Off. 9 Pet-Friendly Employee Benefits.

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Employers: Help Your Employees Avoid HSA Challenges

Corporate Synergies

Health savings accounts are designed for the long term, but most employees use funds for current healthcare expenses. Health savings accounts (HSAs) continue to increase in popularity, but not without issues for both employees and employers. This gives employees time to build up their HSA savings.

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HSA vs. health care FSA: Which is better for you and your employees?

Insperity

HSA is the acronym for health savings account; FSA is the acronym for flexible spending account. An easy, basic way to distinguish what each account is intended for is by focusing on what the letter “S” represents in each: savings and spending. What you need to know about health care FSAs.

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