Higginbotham

JANUARY 12, 2024

When considering the three main types of health accounts (HRAs, HSAs and FSAs), it’s important to understand their pros and cons before deciding what to offer your employees. What are health accounts? These setups can often provide substantial tax benefits as well.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Deductions Deductible 52

Higginbotham

NOVEMBER 28, 2022

Some are turning to Health Savings Accounts (HSAs). Although HSAs won’t work for everyone, the benefits of an HSA account make this an appealing option for some individuals. What is a Health Savings Account (HSA)? An HSA is a special type of savings account. HSAs are portable.

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductions Deductible 52

WEX Inc.

SEPTEMBER 7, 2023

Lack of understanding The concern: Some individuals may not fully comprehend how an FSA works and may be hesitant to enroll due to confusion or uncertainty about its benefits and limitations. Eligible expense scanner within our benefits mobile app. What you can do: Address this concern by emphasizing the savings potential of an FSA.

Flexible Spending Account 98

Flexible Spending Account Take Home Pay Flexible Spending Healthcare 98

HR Lineup

MAY 11, 2023

Employers can choose from a range of pre-tax benefits, including health insurance, dental insurance, vision insurance, and other types of benefits. The platform is designed to be user-friendly, and employers can set up and manage their benefits packages with minimal effort.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Benefits Package Flexible Spending 52

InterWest Insurance Services

JUNE 16, 2022

One in five workers surveyed said that health care and health insurance are a major factor when deciding to accept a job, compared with only 13% of human resources executives, according to the “2022 Health at Work” survey by Quest Diagnostics. That’s compared with only 37% of HR executives.

401(k) 98

401(k) Health Insurance Health Savings Account Insurance 98

Higginbotham

OCTOBER 13, 2023

A Lifestyle Spending Account (LSA) is a type of employer-sponsored account with funds that employees can access for certain wellness and lifestyle-related purposes. Alternatively, the employer may provide a special debit card that the employee can use to access the account. Why offer a Lifestyle Spending Account?

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Flexible Spending Taxes 52

InterWest Insurance Services

JULY 20, 2022

It always takes more time than usual to onboard new employees — particularly ones who are new to the workforce altogether — to your employee benefits plans. To many new Gen Z recruits, signing up for health insurance and actually using their benefits is a foreign concept. Most students in the U.S. Continuing education.

Education 98

Education 401(k) Deductions Deductible 98

Insperity

JANUARY 27, 2022

What are fringe benefits? In common parlance, fringe benefits (a.k.a. perks or perquisites) are benefits you offer in addition to pay. The IRS’ Publication 15-B (2021) Employer’s Tax Guide to Fringe Benefits defines a fringe benefit as “a form of pay for the performance of services.

Employment 92

Employment Taxes Health Savings Account Benefits Package 92

AssuredPartners

SEPTEMBER 25, 2023

From Baby Boomers who have decades of experience to Gen Zer's just starting their careers, each generation brings unique perspectives and expectations when it comes to the benefits that they value the most. One way to bridge this gap is through the strategic design of employee benefits packages that cater to an age diverse population.

Retirement Plan 52

Retirement Plan Health Savings Account Benefits Package Healthcare 52

InterWest Insurance Services

AUGUST 22, 2023

Understand your options Familiarize yourself with the various options that you have: Health maintenance organizations – HMOs are typically the least expensive plans because they require enrollees to visit their personal physicians and tightly controlled in-network doctors. Going out of network is discouraged with high out-of-pocket costs.

Family and Medical Leave Act 98

Family and Medical Leave Act Out of Pocket Cost Deductions Deductible 98

InterWest Insurance Services

AUGUST 1, 2023

These plans usually have an attached health savings account to which your workers can transfer funds pre-tax from their paychecks to use for paying deductibles, copays and other medical expenses. For 2024, for a plan to qualify as an HDHP the deductible must be at least $1,400 for an individual and $2,800 for a family.

Family and Medical Leave Act 98

Family and Medical Leave Act Out of Pocket Cost Deductions Deductible 98

Higginbotham

JANUARY 27, 2023

Larger companies are more likely to offer health insurance than smaller companies, with 91 percent of firms with 50 to 199 workers offering coverage, compared to only 39 percent of firms with three to nine workers. However, even among small companies, the figures show that health insurance is a common offering.

Health Insurance 52

Health Insurance Insurance Benefits Package Out of Pocket Cost 52

Benefit Resource Inc.

NOVEMBER 22, 2022

Here are 5 reasons to give thanks for employee benefits this Thanksgiving. Pre-tax benefits save you money. With a pre-tax benefit, you’re able to deduct the cost of your benefits from your taxes before you calculate what you owe. You may be surprised at how much you can save!

Employee Benefits 52

Employee Benefits Flexible Spending Account Flexible Spending Health Savings Account 52

Higginbotham

JUNE 14, 2022

Flexible Spending Account vs. Health Savings Account. An FSA is a type of savings account that lets people pay for certain out-of-pocket medical expenses using tax-free dollars. FSAs might sound a lot like Health Savings Accounts (HSAs), but there are some key distinctions.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Deductions Deductible 52

Benefit Resource Inc.

SEPTEMBER 28, 2023

At Benefit Resource (BRI), we believe in putting people first, and it is with great pride and excitement that we share the news of our recent achievements in the second annual BenefitsPRO Luminaries Awards. ” Wilson’s words underscore the profound impact that BRI and its CEO, Jason Hall, have had on the benefits industry.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Taxes Flexible Spending 52

Best Money Moves

AUGUST 18, 2021

The 3 best benefits for a multigenerational workforce. In a multi-generational workforce, it can be difficult to find employee benefits that address the needs of every employee. This article highlights the top 3 benefits that work well for multi-generational teams.

Health Insurance 103

Health Insurance Health Savings Account Insurance Benefits Package 103

Benefit Resource Inc.

NOVEMBER 13, 2018

Just remember, Benefit Resource is on your team. We understand it is a stressful time and are ready to make your year-end pre-tax benefits goals a reality. When using Benefit Resource for your pre-tax benefits administration, your Plan Highlights document is your basic employee playbook on pre-tax benefits.

Taxes 40

Taxes Health Savings Account Deductions Deductible 40

Benefit Resource Inc.

NOVEMBER 5, 2021

Benefit Resource (BRI) has been simplifying the complexity of benefits for maximum savings and peace of mind for almost 30 years. Employers have come to trust and rely on BRI for their tax-free benefits needs. A little over a year and a half into the pandemic, employee benefits are in the spotlight more than ever.

Employee Benefits 40

Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 40

Benefit Resource Inc.

MAY 27, 2021

Over the years, dental insurance has been shifting from a semi-rare fringe benefit to a standard component of most benefit packages. A Limited Purpose FSA (also known as a Limited FSA or Limited Medical FSA) allows you to pay for dental and vision services with tax-free money. Enroll in a Dental Insurance Plan.

Flexible Spending Account 75

Flexible Spending Account Flexible Spending Health Savings Account Health 75

Empuls

FEBRUARY 26, 2024

From well-being to flexibility, continuous learning to personalized perks, let's understand the game-changing employee benefits trends that will take lead in the near future.   Offer alternative healthcare plans , such as high-deductible health plans (HDHPs) paired with health savings accounts (HSAs).

Employee Benefits 40

Employee Benefits Financial Counseling Healthcare Retirement Plan 40

Higginbotham

OCTOBER 5, 2023

As the workforce has evolved, so too have employees’ expectations when it comes to traditional employee benefits. Competitive advantage can also come from creativity in putting together a benefits package. Personalized Employee Benefit Packages Recognize that not all employees have the same needs and priorities.

Health Insurance 52

Health Insurance Employee Benefits Insurance 401(k) 52

Higginbotham

MAY 11, 2023

Accordingly, on April 13, 2023, the Departments of Labor, Health and Human Services, and the Treasury (Departments) issued frequently asked questions (FAQs) in response to this case. Fortunately, employers are uniquely poised to provide their employees with the benefits and financial education they want.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Deductions Deductible 52

Genesis HR Solutions

JULY 3, 2019

Though your benefits package may be quite substantial, your employees may not know or understand the real value of the benefits you offer. And they may continue to remain unaware of the “hidden” benefits they are receiving even as healthcare costs rise, and you, the employer, absorb the increases. Social security tax.

401(k) 40

401(k) Commissions Retirement Plan IT 40

Benefit Resource Inc.

SEPTEMBER 8, 2021

The first step to getting employees to “swipe right” on your benefits is for them understand what they are looking for in a benefits package. Some people might want benefits that can be used to support children, like a General or Limited Flexible Spending Account (FSA) or a Dependent Care FSA.

Health Savings Account 40

Health Savings Account Flexible Spending Account Finance Retirement Plan 40

Best Money Moves

AUGUST 18, 2021

The 3 best benefits for a multigenerational workforce. In a multi-generational workforce, it can be difficult to find employee benefits that address the needs of every employee. This article highlights the top 3 benefits that work well for multi-generational teams.

Health Insurance 56

Health Insurance Health Savings Account Insurance Benefits Package 56

Higginbotham

MARCH 17, 2023

What are lifestyle spending accounts? Many workers are paying greater attention to their benefits and wondering how to stretch their dollars further. According to a 2022 benefits survey, just under 10 percent of employers reported offering LSAs as part of their benefits packages.

Health Insurance 52

Health Insurance Flexible Spending Account Insurance Benefits Package 52

Higginbotham

JULY 12, 2022

Executive benefit reimbursement plans for health care expenses have provided one way to fill in gaps left by normal group health plans, ensuring that your business leaders are properly covered. Health Reimbursement Arrangement and Group Health Plan. The Tax Benefits of Health Reimbursement Arrangements.

Out of Pocket Cost 52

Out of Pocket Cost Flexible Spending Account Medical Deductions 52

Empuls

SEPTEMBER 25, 2023

Updated OSHA guidelines and standards Safety in the workplace is a continually evolving field, and the Occupational Safety and Health Administration (OSHA) regularly updates its guidelines to reflect this. This case shows the legal complexities surrounding changes to employee benefits.

Family and Medical Leave Act 40

Family and Medical Leave Act Overtime 401(k) Benefits Package 40

Genesis HR Solutions

SEPTEMBER 22, 2020

For many small businesses, the struggle to compete with larger companies for talent is an uphill battle—particularly when it comes to benefit offerings. While you know recruiting and retention is important, you may not be sure if the benefits you offer are a selling point to your potential employees. Health Savings Account (HSA).

401(k) 98

401(k) Employee Benefits Disability Insurance roth 401(k) 98

Benefit Resource Inc.

OCTOBER 30, 2018

When it comes to pre-tax benefits specifically, we found three areas that are common culprits: Gaps in understanding of pre-tax benefits. Overly complicated benefits material. Minimal integration of pre-tax benefits. Gaps in u nderstanding of pre-tax benefits.

Flexible Spending Account 56

Flexible Spending Account Taxes Health Savings Account Healthcare 56

Business Management Daily

NOVEMBER 15, 2021

Open enrollment is underway for many companies right now and one benefits offering that may be on the menu this year is an FSA. Employers are constantly looking for ways to remain competitive in their benefits offerings, and an FSA is a great add-on to your benefits package. Healthcare FSA. Healthcare FSAs. Invisalign.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Medical Healthcare 98

Qandle

AUGUST 26, 2022

With the COVID-19 pandemic posing new obstacles to traditional recruitment practices like in-person interviews, the importance of human resource management and cutting-edge technology has never been higher for businesses than it is in 2022. For this reason, it is crucial that you acquire these tools if you want to maintain your competitive edge.

Software 98

Software 401(k) Human Resources Payroll 98

Insperity

MARCH 12, 2024

Launching a successful benefits program in your workplace calls for a savvy employee benefits strategy. Here, we’ll cover everything you need to know about employee benefits. Optional dental and vision care are usually offered alongside health insurance for an added fee.)

Family and Medical Leave Act 57

Family and Medical Leave Act Employee Benefits PTO 401(k) 57

WEX Inc.

JULY 20, 2023

In the first post of this year’s open enrollment series, we break down some of the common feedback we received from those who said their benefits options were lacking so you can build the best benefits package going into your open enrollment. However, not all employees are offered these benefits.

Deductions 75

Deductions Deductible Flexible Spending Account Health Savings Account 75

WEX Inc.

OCTOBER 12, 2023

As an employer, providing a robust employee benefits package is only half the battle. Educating on the value of their benefits and how best to use them is equally important. One of the questions we asked: What benefit would you like to learn more about? It is not legal or tax advice. Download now!

Education 52

Education Health Savings Account Consulting Taxes 52

Benefit Resource Inc.

AUGUST 6, 2021

Free Health Savings Account? Now, let’s assume those 100 employees contribute $2,000 a year each into their HSA through their pre-tax payroll deduction contributions. Based on the FICA tax rate of 7.65%, you’ll save $15,300. That covers the administrative costs and still leaves you with $12,000 in savings!

401(k) 76

401(k) Health Savings Account Deductions Deductible 76

Benefit Resource Inc.

SEPTEMBER 25, 2018

So, you’ve decided to implement a pre-tax benefit plan. But you can streamline the process to implement a pre-tax benefit plan by understanding and answering these five questions. But you can streamline the process to implement a pre-tax benefit plan by understanding and answering these five questions.

Taxes 45

Taxes Health Savings Account Flexible Spending Account Flexible Spending 45