HR Professionals Magazine

AUGUST 1, 2023

With over 4,000 respondents, the Society for Human Resource Management’s 2023 Employee Benefits Survey found that the number of employers offering family support and leave benefits has significantly increased since 2022. Among health care coverage options, preferred provider organizations remained the most common (82%).

Parental Leave 52

Parental Leave Flexible Spending Account Health Savings Account Flexible Spending 52

CorpStrat

JANUARY 17, 2023

The following commonly offered Employee Benefits are subject to these limits: High deductible health plans (HDHPs) and health savings accounts (HSAs). Health flexible spending accounts (FSAs). DOWNLOAD OUR FREE PDF DETAILING 2023 LIMIT INCREASES: DOWNLOAD PDF. 401(k) plans.

401(k) 52

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

Griffin Benefits

NOVEMBER 1, 2022

The IRS has finally announced adjustments to 2023 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. Employees can deposit an incremental $200 into their Health Care FSAs in 2023.

401(k) 82

401(k) Retirement Plan Health Savings Account Deductions 82

Benefit Resource Inc.

JANUARY 3, 2023

Whether you’re looking to retire, advance your career, or prioritize your health, now is the perfect time to start planning your journey. If you’re in the 70% of people who have health-related goals for 2023, let’s take a look at how pre-tax benefits can help set goals and prioritize your health this year and beyond.

Utilities 98

Utilities Taxes Flexible Spending Account Flexible Spending 98

Benefits Notes

OCTOBER 24, 2022

On October 21, 2022, the Internal Revenue Service (IRS) released Notice 2022-55 , which sets forth the 2023 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The following chart summarizes the 2023 limits for benefit plans. The 2022 limits are provided for reference. .

401(k) 52

401(k) Deductions Deductible Health Savings Account 52

Proskauer's Employee Benefits & Executive Compensa

OCTOBER 21, 2022

On October 18th, the IRS announced a slew of inflation adjustments for 2023, including to the annual contribution and carryover limits for healthcare flexible spending accounts and the monthly limit for qualified transportation fringe benefits. Health FSAs. . Increase from 2022 to 2023. Increase from 2022 to 2023.

Transportation 52

Transportation Flexible Spending Account Flexible Spending Health Savings Account 52

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. HSA administrators have until May 31, 2023 to issue Form 5498-SA to HSA participants. The season for filing taxes is upon us once again. On the other hand, a 5498-SA reports contributions.

Taxes 98

Taxes Health Savings Account Deductions Deductible 98

WEX Inc.

JANUARY 3, 2023

Fortunately, your health savings account (HSA) is an employee-owned account, so it stays with you, even when you switch employers. 2023 HSA limits announced The IRS announced significant increases to HSA contribution limits in 2023 as a result of rising inflation. The post Happy 2023!

Education 52

Education Flexible Spending Account Health Savings Account Flexible Spending 52

WEX Inc.

MAY 17, 2023

Health savings account (HSA) contribution limits are on the rise again in 2024. These are increases of $300 and $550, respectively, from 2023 HSA contribution limits. HSA 2023 2024 Self-only contribution limit $3,850 $4,150 Family contribution limit $7,750 $8,300 What are the 2024 HDHP amounts/limits?

Health Savings Account 98

Health Savings Account Deductions Deductible Taxes 98

AssuredPartners

JANUARY 4, 2023

During the final week of December 2022, Congress approved the Consolidated Appropriations Act, 2023 (CAA 2023) which included, among other provisions affecting employers, a temporary telehealth services safe harbor for High Deductible Health Plans (HDHP) first-dollar coverage without violating Health Savings Account (HSA) contribution rules.

Health Savings Account 52

Health Savings Account Deductions Deductible Healthcare 52

Money Talk

MAY 18, 2022

Normal” tax rules apply in 2022, however, which may require a withholding change for many families to avoid getting a smaller refund, or owing tax, in 2023. The deadline for making 2022 SEP contributions is the tax filing deadline in April 2023. Take time now to research potential account custodians.

Taxes 262

Taxes 401(k) Deductions Deductible 262

McDermott Will & Emery Employee Benefits

OCTOBER 21, 2022

The Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social Security wage base for 2023.

Employee Benefits 81

Employee Benefits Flexible Spending Account Employment Health Savings Account 81

InterWest Insurance Services

FEBRUARY 20, 2024

The average HDHP deductible for self-only coverage was $2,000 in 2023, while the minimum deductible that a plan must have to qualify as an HDHP is $1,600 ($3,200 for family coverage). The key to ensuring that the HDHP is a success in part comes down to avoiding four common mistakes.

Deductions 98

Deductions Deductible Out of Pocket Cost Health Savings Account 98

WEX Inc.

AUGUST 10, 2023

You might be surprised to learn that your health savings account (HSA) and medical flexible spending account (FSA) can help you save on purchases of a variety of back-to-school, expenses, including: Thermometers. Are you preparing to send your kids back to school soon?

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

Benefit Resource Inc.

SEPTEMBER 28, 2023

Jason Hall, Benefit Resource CEO & 2023 Luminaries Honoree Jason Hall, our esteemed leader, was also recognized in the Leadership category. The post BRI and Our CEO Selected for the BenefitsPRO Luminaries Class of 2023 appeared first on BRI | Benefit Resource.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Taxes Flexible Spending 52

InterWest Insurance Services

DECEMBER 7, 2023

Earlier in 2023, the IRS also announced the maximum contribution limits to health savings accounts, which are similar to FSAs, but they must be attached to a high-deductible health plan.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Pharmaceutical Health Savings Account 98

Griffin Benefits

JUNE 7, 2023

On May 16, 2023, the IRS released Revenue Procedure 2023-23 to provide the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2024. HSA/HDHP Limits The following chart shows the HSA and HDHP limits for 2024 as compared to 2023.

Health Savings Account 77

Health Savings Account Deductions Deductible Taxes 77

Proskauer's Employee Benefits & Executive Compensa

JANUARY 31, 2023

The Consolidated Appropriations Act of 2023 (“CAA 2023”), signed into law on December 29, introduced sweeping reforms to the employee benefits landscape. Not only do the CAA 2023’s “SECURE 2.0” Not only do the CAA 2023’s “SECURE 2.0” CAA 2023 reduced these cuts to 2% in 2023, with another 1.5%

Deductions 98

Deductions Deductible Health Savings Account Retirement Plan 98

Benefits Notes

NOVEMBER 21, 2023

On November 1, 2023, the Internal Revenue Service (IRS) released Notice 2023-75 , which sets forth the 2024 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The 2023 limits are provided for reference. The following chart summarizes the 2024 limits for benefit plans.

401(k) 52

401(k) Health Savings Account Retirement Plan Deductions 52

InterWest Insurance Services

NOVEMBER 25, 2022

The IRS has released the 2023 maximum contribution amounts for health savings accounts and flexible spending accounts. The changes, which the IRS releases in November each year, will affect contribution limits for HSAs, FSAs and 401(k) and other retirement accounts. 7,750 for family coverage (up $450).

401(k) 98

401(k) Deductions Deductible Flexible Spending Account 98

Benefit Resource Inc.

MARCH 20, 2024

In 2023, BRI was acquired by Millennium Trust, a leading provider of health, wealth, retirement, and benefits solutions. Inspira relentlessly pursues better outcomes for all with our automatic rollover services, health savings accounts, custody services, and more. Learn more at inspirafinancial.com.

Health Savings Account 52

Health Savings Account Flexible Spending Account Flexible Spending Taxes 52

InterWest Insurance Services

JANUARY 11, 2024

With health care costs expected to jump 7% this year from the 2023 level and insurance premiums reflecting that increase, many employers will be challenged to balance benefit options with cost-controlling measures, according to the report. Making larger health savings account contributions to lower-paid employees.

Employment 97

Employment Health Savings Account Medical Insurance 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. In 2023, the maximum an employee can carry over is $610.

Out of Pocket Cost 98

Out of Pocket Cost Health Savings Account Medical Health Insurance 98

AssuredPartners

MAY 16, 2023

Each year around this time the IRS announces the inflation-adjusted limits for Health Savings Accounts (HSAs) and High Deductible Health Plans (HDHPs), as they are required to do so annually prior to June 1st. On May 16, 2023, the IRS released Revenue Procedure 2023-23.

Health Savings Account 52

Health Savings Account Deductions Deductible Management 52

Genesis HR Solutions

MAY 23, 2023

As our team’s senior HR business partner, I’ve noticed several new and interesting hiring trends in 2023 in addition to some of the standard practices of the past. Hiring Trends In 2023 Below, I present hiring trends across various categories to help you formulate a comprehensive approach that works best for you. up from 8.6%

Insurance 40

Insurance PTO Flexible Spending Human Resources 40

InterWest Insurance Services

JUNE 8, 2023

The IRS has raised the maximum amount people can funnel into their health savings accounts by 7.8% The IRS updates this amount annually, along with minimum deductibles as well as the out-of-pocket maximums for high-deductible health plans. for 2024, the largest increase ever, brought to you by inflation.

Deductions 52

Deductions Deductible Health Savings Account Medical 52

Benefit Resource Inc.

OCTOBER 31, 2022

Commuter benefits, flexible spending accounts, dependent care, and health savings accounts are just a few of the great employee benefits available to help you save money and reduce stress. Commuting by public transportation can save you money on gas as well as wear and tear on your car. Howling Good HSAs.

Taxes 75

Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

InterWest Insurance Services

AUGUST 5, 2022

As the 2023 group health open enrollment season nears, more employers have heard concerns among their staff and are focusing on affordability and easier access to health care services, according to a new study. The survey found that 70% of all large employers were planning benefit enhancements for 2023.

Health Insurance 98

Health Insurance Insurance Deductions Deductible 98

InterWest Insurance Services

MAY 18, 2023

Key to HDHP satisfaction The key to successfully navigating an HDHP comes down to educating yourself in how these plans work, the trade-off between higher out-of-pocket costs and lower premiums, and the importance of taking some of those premium savings and socking them away in a health savings account.

Out of Pocket Cost 98

Out of Pocket Cost Health Savings Account Deductions Deductible 98

Proskauer's Employee Benefits & Executive Compensa

JUNE 27, 2023

Notice 2023-37 can be downloaded here. Notice 2023-37 confirms that an HDHP can provide pre-deductible coverage of COVID-19 testing and treatment for plan years ending on or before December 31, 2024. Can an HDHP continue to provide pre-deductible coverage of COVID-19 testing and treatment without impacting HSA eligibility?

Deductions 52

Deductions Deductible Health Savings Account Medical 52

InterWest Insurance Services

JANUARY 18, 2024

The average HDHP deductible for self-only coverage was $2,000 in 2023, while the minimum deductible that a plan must have to qualify as an HDHP is $1,600 ($3,200 for family coverage). The key to ensuring that the HDHP is a success in part comes down to avoiding four common mistakes.

Out of Pocket Cost 83

Out of Pocket Cost Deductions Deductible Voluntary Benefits 83

Empuls

SEPTEMBER 25, 2023

New requirements for health and retirement benefits Health and retirement benefits are an integral part of employee compensation, and they are subject to their own sets of laws and regulations. However, 2023 has seen new amendments that add multiple layers of complexity to these regulations.

Family and Medical Leave Act 40

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

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. Consolidated Appropriations Act, 2023 (“2023 CAA”) Section 4151- Congress extended HDHP telehealth relief under 2022 CAA through plan years beginning before January 1, 2025.

Deductions 52

Deductions Deductible Family and Medical Leave Act Health and Welfare 52

Higginbotham

NOVEMBER 28, 2022

Employers and employees alike are looking for ways to make health care more affordable. Some are turning to Health Savings Accounts (HSAs). Although HSAs won’t work for everyone, the benefits of an HSA account make this an appealing option for some individuals. What is a Health Savings Account (HSA)?

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductions Deductible 52

WEX Inc.

AUGUST 2, 2023

There are four common types of accounts: Medical FSA, which covers eligible medical, dental and vision expenses. Unlike a medical FSA, a limited FSA can be paired with a health savings account (HSA) and a high-deductible health plan (HDHP). Check out our Benefits Toolkit on our website.

Flexible Spending Account 98

Flexible Spending Account Deductions Deductible Health 98

Benefit Resource Inc.

APRIL 6, 2023

Don’t forget about Specialty Accounts (Lifestyle Accounts) ! These personalized benefits have become increasingly popular in the workplace.

Employee Benefits 52

Employee Benefits Health Savings Account Taxes Entertainment 52

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). For plan years ending in 2022, the PCORI fees are due by July 31, 2023. 1, 2023 technically ended on Dec. 1, 2022, or $3.00

Deductions 52

Deductions Deductible Health Insurance Taxes 52