PeopleKeep

MAY 24, 2021

Opportunities to offer more flexible and personalized health benefits have grown a lot in recent years. With new tax-free vehicles emerging, including account-based health plans (ABHPs), small employers now have multiple ways to increase employees’ benefits.

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Health Savings Account Benefits Package Deductions Deductible 98

Business Management Daily

APRIL 25, 2024

Let’s talk about the different types of fringe benefits and how employers can make the most of them. Taxable vs. Non-taxable Benefits are always tax-deductible, aren’t they? Employees can be taxed on some high-value benefits when they are considered part of the employee’s compensation package.

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WEX Inc.

MAY 24, 2023

“It’s about what a health savings account or a flexible spending account can do for them." Increase communication One main reason why employees don’t understand their benefits is a lack of communication from their employers. It is not legal or tax advice.

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Higginbotham

JANUARY 12, 2024

Health accounts or arrangements are designed to cover the costs of eligible health care services, typically including medical , vision and dental expenses. These setups can often provide substantial tax benefits as well. This can reduce the income taxes that employees owe.

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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.

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Health Savings Account Out of Pocket Cost Deductions Deductible 52

Benefit Resource Inc.

MAY 2, 2023

Significant areas of focus are healthcare costs and pre-tax benefits. Offering pre-tax benefits First, if employee benefits aren’t already offered, employers can help alleviate the financial burden of healthcare costs for their employees by providing pre-tax benefits.

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Employment Flexible Spending Account Benefits Package Healthcare 52

WEX Inc.

SEPTEMBER 7, 2023

What you can do: Address this concern by emphasizing the savings potential of an FSA. Illustrate how pre-tax contributions lead to significant savings over time, effectively reducing the impact on take-home pay. What you can do: While promoting the benefits of an FSA, it's important to respect individual choices.

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HR Lineup

MAY 11, 2023

The PeopleKeep platform offers customizable benefits solutions for businesses of all sizes. Employers can choose from a range of pre-tax benefits, including health insurance, dental insurance, vision insurance, and other types of benefits. Another benefit of using PeopleKeep is the flexibility it offers.

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Flexible Spending Account Health Savings Account Benefits Package Flexible Spending 52

InterWest Insurance Services

JUNE 16, 2022

Offering telemedicine as part of your benefits package can lead to substantial cost savings as it allows your employees to access health care professionals when they need them, 24/7. Offer a telemedicine option — Virtual care services have exploded during the last two years and more plans are covering these services.

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401(k) Health Insurance Health Savings Account Insurance 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.

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Employment Taxes Health Savings Account Benefits Package 92

Higginbotham

OCTOBER 13, 2023

According to the Society for Human Resource Management (SHRM), Lifestyle Spending Accounts are more common in Canada, but they’re starting to receive attention in the U.S., especially as employers look at options beyond standard benefits packages to help improve recruitment, retention and turnover. However, there’s a catch.

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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. The freebies — Under the Affordable Care Act, health plans are required to cover a list of 10 essential services, particularly preventative procedures like colonoscopies.

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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.

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Retirement Plan Health Savings Account Benefits Package Healthcare 52

Business Management Daily

APRIL 29, 2024

High-Deductible Health Plans (HDHPs) with Health Savings Accounts (HSAs) : HDHPs have lower premiums but higher deductibles compared to traditional health plans. Deductibles can be paid with tax-advantaged/tax-free spending accounts funded by employees and employers.

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Out of Pocket Cost PTO 401(k) Deductions 75

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!

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Higginbotham

JANUARY 27, 2023

However, employee recruitment and retention aren’t the only reasons to offer health insurance. Although it may seem easier to boost wages and forget about employee benefits, due to potential tax breaks, offering health insurance can be a financially sound strategy. A SHOP-registered insurance agent can help you enroll.

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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.

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Benefit Resource Inc.

SEPTEMBER 28, 2023

With a heightened focus on work-life balance, increased competition for talent, and the proliferation of dispersed workforces, BRI has diversified its offerings to include more robust personalized benefits and pre-tax benefits like Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), and commuter benefits.

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Best Money Moves

AUGUST 18, 2021

Multigenerational workforces pose a unique challenge for employers and HR teams: How do you build a benefits package that’s equally attractive to all members of your workforce, when your team members are at radically different stages of their lives? Meanwhile, older employees will have greater concerns about retirement. .

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Health Insurance Health Savings Account Insurance Benefits Package 103

Benefit Resource Inc.

NOVEMBER 13, 2018

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. 3rd Down: Schedule re-enrollment.

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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.

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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.

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Flexible Spending Account Flexible Spending Health Savings Account Health 75

Empuls

FEBRUARY 26, 2024

  Offer alternative healthcare plans , such as high-deductible health plans (HDHPs) paired with health savings accounts (HSAs). These plans often provide employees with more control over their healthcare expenses and offer tax advantages.

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Employee Benefits Financial Counseling Healthcare Retirement Plan 40

Higginbotham

OCTOBER 5, 2023

Competitive advantage can also come from creativity in putting together a benefits package. Basic Benefit Packages are No Longer Competitive Not long ago, a more competitive benefits package might have included health insurance and a 401(k) plan , plus dental and vision insurance.

Health Insurance 52

Health Insurance Employee Benefits Insurance 401(k) 52

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.

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Health Savings Account Flexible Spending Account Finance Retirement Plan 40

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

Best Money Moves

AUGUST 18, 2021

Multigenerational workforces pose a unique challenge for employers and HR teams: How do you build a benefits package that’s equally attractive to all members of your workforce, when your team members are at radically different stages of their lives? Meanwhile, older employees will have greater concerns about retirement. .

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Health Insurance Health Savings Account Insurance Benefits Package 56

Higginbotham

JULY 12, 2022

A health reimbursement plan gives employers a way to cover these costs. HRAs may sound like Health Savings Accounts (HSAs) or Flexible Spending Accounts (FSAs), but there are key differences. FSAs: These accounts are owned by the employer; so they are not portable. Comparing HRAs, HSAs and FSAs.

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Out of Pocket Cost Flexible Spending Account Medical Deductions 52

Empuls

SEPTEMBER 25, 2023

Given these changes, HR departments need to reassess their benefits packages to make sure they are not only competitive but also in full legal compliance. This case shows the legal complexities surrounding changes to employee benefits.

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

Genesis HR Solutions

SEPTEMBER 22, 2020

According to Healthcare.gov , a Flexible Spending Account (also known as a flexible spending arrangement) is a special account employees put money into that they use to pay for certain out-of-pocket health care costs. Health Savings Account (HSA). Employers fund and own accounts. Healthcare.gov ).

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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. What you can do right now.

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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.

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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.

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InterWest Insurance Services

AUGUST 22, 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.

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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

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. Funds can be withdrawn for non-eligible expenses, but they will be taxed.) Want to know whether your benefits package is contributing to your goals?

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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. It is not legal, financial, or tax advice.

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