Benefit Resource Inc.

MARCH 20, 2024

March 20, 2024 – Benefit Resource (BRI) , an Inspira Financial solution, has been recognized as Partner of the Year at the 2024 ADP Marketplace Partner Summit held in Atlanta, Ga. In early 2024, Millennium Trust Company rebranded as Inspira Financial. ROCHESTER, N.Y., Learn more at inspirafinancial.com.

Health Savings Account 52

Health Savings Account Flexible Spending Account Flexible Spending Taxes 52

WEX Inc.

MAY 2, 2024

Those enrolled in an HSA or a medical flexible spending account (FSA) may also be able to enroll in certain types of HRAs. We support flexible plan designs, empowering you to determine your own benefits goals for your participants by letting you set up your HRA to look however you want.

Health Savings Account 98

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

WEX Inc.

FEBRUARY 15, 2023

Did you recently elect to participate in a medical flexible spending account (FSA) ? What is a medical flexible spending account (FSA)? In fact, if your employer offered the maximum allowed $610 carryover from a 2023 plan, you could carry up to $610 from 2023 to 2024. Check out our podcast episode below!

Medical 98

Medical Flexible Spending Account Flexible Spending Taxes 98

CorpStrat

JANUARY 22, 2024

As we settle into 2024, many teams have recently renewed their Employee Benefits plans. Health Savings Accounts (HSAs) or Flexible Spending Accounts (FSAs) These accounts can be used for various health-related expenses, offering tax advantages and helping your employees save money.

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Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

WEX Inc.

FEBRUARY 2, 2023

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). trillion spending bill also extended a provision that provided relief to health savings account (HSA) participants.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Flexible Spending Taxes 52

InterWest Insurance Services

NOVEMBER 25, 2022

The IRS has released the 2023 maximum contribution amounts for health savings accounts and flexible spending accounts. In other words, a worker with $610 of unspent FSA funds at the end of 2023 could carry over those funds for use in 2024. The catch: These funds must be spent by March 15, 2024.

401(k) 88

401(k) Deductions Deductible Flexible Spending Account 88

Higginbotham

NOVEMBER 15, 2023

IRS Announces 2024 FSA, Retirement Plan Limits Earlier this month, the Internal Revenue Service (IRS) released cost-of-living adjustments and inflation-adjusted limits for 2024 that affect amounts employees can contribute to health flexible spending accounts (FSAs), 401(k) plans and individual retirement accounts (IRAs).

401(k) 52

401(k) Retirement Plan Flexible Spending Account Insurance 52

Higginbotham

SEPTEMBER 12, 2023

23, 2023, the IRS issued Revenue Procedure 2023-29 to index the contribution percentages in 2024 for determining the affordability of an employer’s plan under the Affordable Care Act (ACA). As a result, many employers may have to lower their employee contributions for 2024 to meet the adjusted percentage.

Electronics 52

Electronics Overtime Flexible Spending Account Salary 52

AssuredPartners

OCTOBER 18, 2022

Included in this announcement, and of consequence to the employee benefits world, the IRS noted that the dollar limit maximum for employee contributions made on a pre-tax basis via salary reductions to health flexible spending accounts (FSAs) under a cafeteria plan will be modified for 2023.

Healthcare 52

Healthcare Flexible Spending Account Health Savings Account Flexible Spending 52

Higginbotham

JANUARY 12, 2024

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 Flexible Spending Accounts (FSAs) are employer-owned accounts designed to cover qualified health care costs. HSA contributions are subject to annual caps.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Deductions Deductible 52

Higginbotham

MARCH 17, 2023

ACA Pay or Play Penalties Will Increase for 2024 On March 9, 2023, the IRS released updated penalty amounts for 2024 related to the employer shared responsibility (pay or play) rules under the Affordable Care Act (ACA). For calendar year 2024, the adjusted $2,000 penalty amount is $2,970.

Health Insurance 52

Health Insurance Flexible Spending Account Insurance Benefits Package 52

Higginbotham

NOVEMBER 2, 2022

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); 401(k) plans; and. Many employee benefits are subject to annual dollar limits that are adjusted for inflation by the IRS each year.

401(k) 52

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