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Importance of Employee Benefit Package And Why it Matters

HR Digest

Create a plan to review the employee benefits package routinely Business Owner and Manager together can design employer benefits package as it is key to attracting and retaining top talent. The mandatory benefits form the foundation of all employee benefit packages. Payroll taxes 2. Child care benefits 6.

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Support your employees’ fertility benefit needs with an HSA or FSA

WEX Inc.

And did you know that a variety of fertility and infertility treatments are eligible for health savings account (HSA) and medical flexible spending account (FSA) funds? What are fertility benefits? It is not legal or tax advice. Keep reading if you're interested in supporting your employees with these needs.

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4 ways to effectively communicate benefits

WEX Inc.

As Bri Boerner, senior operational writer, global talent development at WEX explained in the latest Benefits Buzz podcast episode, “It may seem like a barrier if they just see a term they don't understand. It’s about what a health savings account or a flexible spending account can do for them."

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Leap year! How to handle 27 biweekly payrolls in 2020

Business Management Daily

Although most companies choose this option, it may be a costly decision, since employees will receive an extra paycheck, along with extra taxes withheld and extra benefits provided. So you must plan in advance, getting all the appropriate departments—HR, Accounting, Finance, IT and the C-suite—on board. Well, nothing.

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Open enrollment checklist for employers

Business Management Daily

Additions may need to be added to include plans that have more provider options in different regions where you have new offices or remote workers. HSA benefit plans: A health savings account lets employees set aside money on a pre-tax basis to pay for qualified medical expenses. They also cover dental care expenses.

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FSA receipt requirements: What you need to document

Business Management Daily

Flexible spending accounts (FSAs) are employer-established accounts that allow you to put aside pre-tax dollars from your paycheck into a special account to be used for eligible health or dependent care expenses. Health care provider’s name. The patient does not have to be the employee.

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Imputed income: The real reason behind those pesky receipt requests

Benefit Resource Inc.

The technical definition is: when the value of a service or benefit, provided by employers to employees, must be treated as income. Your employer provided a benefit (aka: allowed you to set aside funds pre-tax). The funds must then be imputed (or treated as income) and subject to payroll taxes.