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What is a 401(k) Plan and How Does it Work?

HR Digest

One popular way to get your retirement plan sorted in the United States is through a 401(k) plan. A 401(k) plan is a type of retirement account offered by employers to their employees. It allows employees to save a portion of their pre-tax income for retirement. How does 401(k) work?

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How to Coax Disengaged Employees to Sign Up for Health Coverage

InterWest Insurance Services

One of the most difficult aspects of annual open enrollment is reaching workers who are disengaged from the process and never bother signing up for your group health plan and other benefits they could take advantage of. Also consider that one in three employees are uncertain about their ability to cover future health care expenses.

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Help Employees Understand the HSA Value Proposition

Corporate Synergies

Health savings accounts can be a good deal for employees. High deductible health plans (HDHPs) are on the rise as a growing number of employers turn to consumer-directed health plans to try to curb costs—the portion of employees enrolled in HDHPs rose from 26.3% Treat the HSA More Like a 401(k) than an FSA.

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Spread the Word About Additional HSA Contributions

InterWest Insurance Services

HSAs allow your employees to put away funds to pay for future medical expenses. Usually, these accounts are funded with pre-tax deductions from your employees’ paychecks, but if they didn’t max out their contributions last year, they still can do so up until the tax-filing deadline.

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