InterWest Insurance Services

DECEMBER 7, 2023

The IRS recently announced that the annual contribution limit for flexible spending accounts will rise to $3,200 in 2024, up $150 from this year. The annual limits on HSA contributions in 2024 are $3,850 for individuals and $8,300 for families, both up more than 7% from 2023’s limits.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Pharmaceutical Health Savings Account 98

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.

FEBRUARY 15, 2023

Did you recently elect to participate in a medical flexible spending account (FSA) ? What is a medical flexible spending account (FSA)? A medical FSA is a tax-advantaged employee benefit that gives participants the opportunity to save on out-of-pocket medical, dental, and vision eligible expenses.

Medical 98

Medical Flexible Spending Account Flexible Spending Taxes 98

InterWest Insurance Services

NOVEMBER 25, 2022

The IRS has released the 2023 maximum contribution amounts for health savings accounts and flexible spending accounts. HSAs allow your staff to set aside a portion of their pre-tax earnings into an account they can tap later to reimburse for qualified medical expenses, including copays, coinsurance, deductibles and medications.

401(k) 98

401(k) Deductions Deductible Flexible Spending Account 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.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

Higginbotham

JANUARY 12, 2024

These setups can often provide substantial tax benefits as well. 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. This can reduce the income taxes that employees owe.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Deductions Deductible 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). percent of the employee’s household income for the year for purposes of both the pay or play rules and premium tax credit eligibility.

Electronics 52

Electronics Overtime Flexible Spending Account Salary 52