McDermott Will & Emery Employee Benefits

NOVEMBER 10, 2023

On November 9, 2023, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the applicable dollar limits for certain health and welfare plan benefits, including those for health flexible spending arrangements and commuter benefit plans, among other important updates.

Health and Welfare 82

Health and Welfare Employee Benefits Flexible Spending Flexible Spending Account 82

McDermott Will & Emery Employee Benefits

NOVEMBER 1, 2023

The Internal Revenue Service recently announced the cost-of-living adjustments to the applicable dollar limits for various employer-sponsored retirement and welfare plans for 2024. Certain health and welfare plan limits have not yet been released.

Health and Welfare 86

Health and Welfare Employee Benefits Flexible Spending Account Health Savings Account 86

WEX Inc.

MAY 2, 2024

Health reimbursement arrangements (HRAs) and health savings accounts (HSAs) are great tools for you and your employees to save money, and for your employees to prepare for potential medical expenses. For employers, HRAs or HSAs come with perks, including tax savings and increased employee retention.

Health Savings Account 98

Health Savings Account 401(k) Flexible Spending Account Taxes 98

CorpStrat

JANUARY 22, 2024

As we settle into 2024, many teams have recently renewed their Employee Benefits plans. It’s the perfect time to take a closer look and remind your employees about the fantastic, often underutilized benefits these plans offer. Communicating these benefits effectively is equally important as providing them.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

InterWest Insurance Services

NOVEMBER 25, 2022

The IRS has released the 2023 maximum contribution amounts for health savings accounts and flexible spending accounts. You’ll want to make note of the changes when discussing your employee benefits during annual open enrollment. The catch: These funds must be spent by March 15, 2024.

401(k) 88

401(k) Deductions Deductible Flexible Spending Account 88

WEX Inc.

FEBRUARY 2, 2023

From an employee benefits and COBRA perspective, this would mean that temporary extensions introduced during the COVID-19 pandemic will also expire. FSAs and HRAs EBSA Disaster Relief Notice 2020-01 also granted a temporary extension to run-out periods for flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs).

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Flexible Spending Taxes 52

Higginbotham

JANUARY 12, 2024

Health accounts can provide advantages to both the employer and the employee, including the following: Flexibility: It’s hard to find employee benefits that fit everyone’s needs. For 2024, the contribution limit for self-only coverage is $4,150 and the contribution limit for family coverage is $8,300.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Deductions Deductible 52