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

Benefit Resource Inc.

DECEMBER 10, 2020

BRI employees are in a unique position; we handle pre-tax benefits administration for thousands of participants every year, and utilize the same plans we sell! Many of the plans focus on savings, financial wellness, and health. We wanted to share the main lessons BRI employees learned about financial wellness in 2020. .

Health Savings Account 45

Health Savings Account Medical Taxes Deductions 45

Business Management Daily

DECEMBER 1, 2019

1 payday back into 2020, you’d still have 27 biweekly pay periods, this time in 2021. Although most companies choose this option, it may be a costly decision, since employees will receive an extra paycheck, along with extra taxes withheld and extra benefits provided. 1, 2021, is a holiday. Twist: If you don’t push the Jan.

Payroll 83

Payroll 401(k) Deductions Deductible 83

Benefit Resource Inc.

MARCH 23, 2020

Tax time is no longer just April 15th. Recent guidance from the IRS delays the Federal tax filing deadline and Federal tax payment deadline. However, state deadlines and the impact on contributions to a Health Savings Account remain less clear. Tax payment deadline delayed. What are the details?

Taxes 49

Taxes Health Savings Account IT 49

Proskauer's Employee Benefits & Executive Compensa

JANUARY 31, 2023

provisions make some significant changes for retirement plans , but CAA 2023 also extends the telehealth plan safe harbor for high-deductible health plans (“HDHPs”) that were first introduced in the 2020 CARES Act. Not only do the CAA 2023’s “SECURE 2.0” The two-year extension continues the relief until January 1, 2025.

Deductions 98

Deductions Deductible Health Savings Account Retirement Plan 98

Flimp Communications

FEBRUARY 7, 2020

We’re in the middle of tax season now and April 15th is closing in fast. For many full-time employees , filing their taxes every year isn’t all that difficult. Conversations about financial wellness need to start somewhere, so why not take advantage of the opportunity tax season affords you? 2020 Tax Season Changes.

Taxes 53

Taxes 401(k) Health Savings Account Finance 53

Proskauer's Employee Benefits & Executive Compensa

MARCH 22, 2022

Effective April 1, 2022, high-deductible health plans can once again offer first-dollar coverage for telehealth and other remote services without making participants ineligible for health savings account (“HSA”) contributions.

Deductions 97

Deductions Deductible Health Savings Account Taxes 97

Health Consultants Group

OCTOBER 1, 2021

In 2020, they surveyed 2,504 active HR professionals. Their Employee Benefits in 2020: Executive Summary report discusses their primary findings. . Based on SHRM’s research, benefits that supported remote work, caregiving, and health became essential during the pandemic. Accident and Health Benefits . Adoption Benefits.

Employee Benefits 86

Employee Benefits Family and Medical Leave Act Flexible Spending Account Health Savings Account 86

InterWest Insurance Services

JANUARY 27, 2023

Recent studies have highlighted an alarming trend in American health care: More and more people are struggling with medical bills and many are delaying care due to high costs. That’s up from 26% in 2020 and 2021. Urge any employees in HDHPs to sock away funds in their attached health savings accounts for future medical expenses.

Out of Pocket Cost 97

Out of Pocket Cost 401(k) Deductions Deductible 97

InterWest Insurance Services

JUNE 2, 2023

Employers offer flexible savings accounts and health savings accounts to their employees so they can build up funds with pre-tax dollars to pay for health care and related expenses. Both FSAs and HSAs have the same rules for what they will cover.

Out of Pocket Cost 98

Out of Pocket Cost Health Savings Account Medical Health Insurance 98

PeopleKeep

OCTOBER 26, 2020

The percentage of workers covered under HDHP plans has increased from four percent of all employer-sponsored health insurance plans in 2006 to 31 percent in 2020. A high deductible health plan (HDHP) paired with a Health Savings Account (HSA) is growing in popularity because it allows employees to pay for medical expenses tax-free.

Deductions 58

Deductions Deductible Health Savings Account Health Insurance 58

InterWest Insurance Services

MARCH 4, 2022

As rising health insurance premiums and out-of-pocket costs for health care are burdening workers, more employers are looking for ways to help their staff put aside money for those expenses. While health savings accounts have grown in popularity, you can only offer them to employees who are enrolled in high-deductible health plans.

Medical 98

Medical Health Insurance Out of Pocket Cost Deductions 98

Benefit Resource Inc.

FEBRUARY 6, 2020

According to estimates taken between October 1, 2019 to January 25, 2020, there have been approximately: 19,000,000 – 26,000,000 flu-related illnesses. The post Protect Your Family: Get a Flu Shot with Your Tax-Free FSA Funds appeared first on BRI | Benefit Resource. 8,600,000 – 12,000,000 flu-related medical visits. Sources: [link].

Flexible Spending Account 45

Flexible Spending Account Taxes Flexible Spending Health Savings Account 45

Snell & Wilmer Benefits

JANUARY 24, 2023

There have been various laws and guidance impacting HDHPs and telehealth since 2020 and most recently, new legislation extended relief for 2023 and 2024 plan years.

Deductions 52

Deductions Deductible Family and Medical Leave Act Health and Welfare 52

Benefit Resource Inc.

OCTOBER 27, 2020

The IRS released the 2021 limits for Mass Transit, Parking, Medical FSA and Adoption Assistance in Revenue Procedure 2020-45. There were no changes to limits for the commuter accounts or medical flexible spending account. Maximum Election : $270 / month (no change from 2020). Find it here: 2020 Limits: Pre-tax accounts.

Flexible Spending Account 40

Flexible Spending Account Health Savings Account Flexible Spending Medical 40

AssuredPartners

FEBRUARY 3, 2020

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 Thank you.n

Taxes 52

Taxes Flexible Spending Account Flexible Spending Healthcare 52

Benefit Resource Inc.

FEBRUARY 4, 2021

Health Savings Accounts (HSAs) are basically the hot new(ish) accessory in the benefits world these days. No matter where you are in your career, or in life, your Health Savings Account will be your constant companion. We are here to sing the praises of HSAs in five parts: You keep your funds forever.

Health Savings Account 73

Health Savings Account 401(k) Retirement Plan Taxes 73

Benefit Resource Inc.

SEPTEMBER 2, 2020

FSAstore.com’s Senior Account Manager Michael Lublanecki sat down with CEO Jason Hall to discuss the BRI & FSAstore.com partnership. This partnership provides participants with an easy way to use their pre-tax health dollars. FSA Calculator – Calculate yearly contributions and tax savings. thermometers.

Health Savings Account 97

Health Savings Account Banking Taxes Medical 97

Higginbotham

JUNE 9, 2023

P CORI Fees Due July 31, 2023 The Affordable Care Act (ACA) requires health insurance issuers and self-insured plan sponsors to pay Patient-Centered Outcomes Research Institute fees (PCORI fees). The fees are reported and paid annually using IRS Form 720 (Quarterly Federal Excise Tax Return). for plan years ending on or after Oct.

Deductions 52

Deductions Deductible Health Insurance Taxes 52

Best Money Moves

AUGUST 18, 2021

Accessible and comprehensive health benefits. Over half of all Americans receive health insurance from their employers, according to 2019 census data. So it’s not surprising that in a 2020 survey of 2000 multigenerational participants, dental and vision insurance topped the list of most wanted Employee Benefits.

Health Insurance 106

Health Insurance Health Savings Account Insurance Benefits Package 106

Business Management Daily

JANUARY 5, 2021

The law also extends expiring tax provisions and everything that could be jammed into 5,593 pages of federal legislation three days before Christmas. 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.

Family and Medical Leave Act 52

Family and Medical Leave Act Payroll 401(k) Taxes 52

Snell & Wilmer Benefits

JANUARY 24, 2023

There have been various laws and guidance impacting HDHPs and telehealth since 2020 and most recently, new legislation extended relief for 2023 and 2024 plan years.

Deductions 40

Deductions Deductible Family and Medical Leave Act Health and Welfare 40

Benefit Resource Inc.

AUGUST 12, 2021

NOTE: A previous version of this blog on personal protective equipment was originally published in October 2020. Reimbursement is permitted for Health Reimbursement Accounts that currently allow over-the-counter medical supplies as eligible expenses.

Flexible Spending Account 40

Flexible Spending Account Health Savings Account Flexible Spending Medical 40

Griffin Benefits

NOVEMBER 11, 2021

The IRS has finally announced adjustments to 2022 contribution limits on various tax-advantaged health and dependent care spending accounts, retirement plans, and other employee benefits such as adoption assistance and transportation benefits. 2022 Retirement Plan Limits Increase. HSA & HDHP Limits Increase for 2022.

401(k) 55

401(k) Retirement Plan Health Savings Account Deductions 55

Higginbotham

MARCH 17, 2023

These FAQs require health plans and health insurance issuers to submit their first attestation of compliance with the CAA’s prohibition on gag clauses by Dec. 27, 2020, through the date of attestation. 27, 2020, through the date of the attestation. What are lifestyle spending accounts? Effective Dec.

Health Insurance 52

Health Insurance Flexible Spending Account Insurance Benefits Package 52

Benefit Resource Inc.

DECEMBER 30, 2021

Limits for Health Savings Accounts (HSAs) were released earlier this year. Pre-tax Account Limits for 2022. Health Flexible Spending Account: $2,850 (Up from $2,750 in 2021) Health FSA Rollover: $570 (Up from $550. Health Savings Account Limits for 2022. Up from $270/mo.

Health Savings Account 40

Health Savings Account Deductions Deductible Flexible Spending Account 40

Benefit Resource Inc.

SEPTEMBER 8, 2021

Some people might want benefits that can be used to support children, like a General or Limited Flexible Spending Account (FSA) or a Dependent Care FSA. But others may be interested in long-term saving goals or retirement planning. Instead, stick to the basics of how to use accounts. Discuss money and communicate clearly.

Health Savings Account 40

Health Savings Account Flexible Spending Account Finance Retirement Plan 40

Benefit Resource Inc.

JANUARY 2, 2020

From tax reform to how-to articles, here are the top 10 blogs from Benefit Resource: Check Your Balance. So far, prices have held steady… Pre-tax limits. Across 2018 and 2019, the announcement of pre-tax limits held employees’ attention. Stay on the ball and check view 2020 pre-tax limits here and here.

Flexible Spending Account 40

Flexible Spending Account Flexible Spending Health Savings Account Taxes 40

Higginbotham

JULY 12, 2022

A health reimbursement plan gives employers a way to cover these costs. HRAs may sound like Health Savings Accounts (HSAs) or Flexible Spending Accounts (FSAs), but there are key differences. FSAs: These accounts are owned by the employer; so they are not portable. Amounts paid for health insurance premiums.

Out of Pocket Cost 52

Out of Pocket Cost Flexible Spending Account Medical Deductions 52

Best Money Moves

AUGUST 18, 2021

Accessible and comprehensive health benefits. Over half of all Americans receive health insurance from their employers, according to 2019 census data. So it’s not surprising that in a 2020 survey of 2000 multigenerational participants, dental and vision insurance topped the list of most wanted Employee Benefits.

Health Insurance 58

Health Insurance Health Savings Account Insurance Benefits Package 58

Business Management Daily

OCTOBER 15, 2020

Employers can expect health benefit costs to rise 4.4% on average in 2021, compared to 2020, according to early results from the Mercer consulting firm’s National Survey of Employer-Sponsored Health Plans 2020. Seven in 10 employees surveyed said improving their financial health is a top goal this year.

Health Savings Account 52

Health Savings Account Healthcare Life Insurance Insurance 52

Benefit Resource Inc.

OCTOBER 1, 2020

ROCHESTER , NY, October 1 , 2020 – B enefit Resource , LLC (BRI) today announced the acquisition o f 121 Benefit s , a Minneapolis-based administrator of pre-tax benefits and benefit continuation services. This marks the first acquisition for BRI since its strategic partnership with CIP Capital in August 2019. . “

Flexible Spending Account 45

Flexible Spending Account Health Savings Account Flexible Spending Transportation 45

Business Management Daily

SEPTEMBER 27, 2019

An ounce of prevention may be worth a pound of cure, but up until this point, high-deductible health plans have been boxed in regarding tax-free reimbursements for most preventive care services or items. To temper an HDHP’s bite, they can be paired with health savings accounts. deductibles, co-payments, etc.)

Health Savings Account 40

Health Savings Account Deductions Deductible Flexible Spending Account 40

Empuls

SEPTEMBER 25, 2023

For example, in 2020, Google faced criticism for its lack of diversity , particularly in leadership roles. For example, in 2020, Barclays faced a backlash for using a system that monitored the time employees spent at their desks. These laws are designed to incentivize the creation of more inclusive workplaces.

Family and Medical Leave Act 40

Family and Medical Leave Act Overtime 401(k) Benefits Package 40

Genesis HR Solutions

MAY 23, 2023

we have 3 million fewer Americans working today compared to February of 2020. Flexible Spending Account (FSA): An FSA (also known as a flexible spending arrangement) is a special account employees put money into that they use to pay for certain out-of-pocket health care costs. Employers fund and own accounts.

Insurance 40

Insurance PTO Flexible Spending Human Resources 40

Flimp Communications

MARCH 31, 2020

This year’s federal tax season has been extended to July 15th due to the COVID-19 health crisis. With everyone under unique and often financial strains, many are examining their finances, searching for ways to save money. Where Tax Savings and Benefits Intersect. Unused balances roll over year to year.

401(k) 53

401(k) Retirement Plan Medical Taxes 53

Benefit Resource Inc.

APRIL 13, 2021

Once again, tax time is no longer just April 15th. For the second year in a row, the Federal Tax filing deadline has been extended for most taxpayers. What does this mean for the 2020 HSA contribution deadline? What is the 2020 tax filing deadline? 2020 Contribution Limits. Single Coverage.

Health Savings Account 76

Health Savings Account Taxes Medical 76