WEX Inc.

SEPTEMBER 14, 2023

When approaching open enrollment, do … Evaluate available health insurance plans. Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans. The “daily grind” can often get in the way of the big picture, but don’t let it!

401(k) 98

401(k) Health Savings Account Flexible Spending Account Healthcare 98

WEX Inc.

AUGUST 15, 2023

Whether you're transitioning from your parents' insurance, landed your first full-time job, or are simply obtaining coverage for the first time, choosing health plans and employee benefits options can be overwhelming. For starters, let’s look at a few considerations when evaluating health plans for the first time.

Deductions 98

Deductions Deductible Healthcare Flexible Spending Account 98

WEX Inc.

SEPTEMBER 12, 2023

If you’ve never been asked if you would like to participate in an employee benefits account before, you might be asking yourself, “What are all these acronyms?” Click here for the first blog post in our series on choosing a health plan for the first time. Assess your ability to cover the deductible before choosing this plan.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Life Insurance 52

WEX Inc.

JANUARY 4, 2023

And election of COBRA can affect your ability to use the reimbursement accounts in which you were participating prior to your COBRA eligibility. In this blog post, we outline some of the ways your ability to use your employee benefits changes when you elect COBRA. The information in this blog post is for educational purposes only.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

WEX Inc.

FEBRUARY 2, 2023

You can learn more about the election period extension, grace period extension, and second qualifying event/disability notifications announced through that notice in this blog post. You can learn more about the FSA and HRA run-out extension in this blog post. This flexibility was first provided as part of the 2020 CARES Act.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Flexible Spending Taxes 52

InterWest Insurance Services

NOVEMBER 25, 2022

The IRS has released the 2023 maximum contribution amounts for health savings accounts and flexible spending accounts. The changes, which the IRS releases in November each year, will affect contribution limits for HSAs, FSAs and 401(k) and other retirement accounts. The takeaway.

401(k) 88

401(k) Deductions Deductible Flexible Spending Account 88

WEX Inc.

APRIL 3, 2023

Health reimbursement arrangements (HRAs) and health savings accounts (HSAs) are great tools for you and your employees to save money, and for your employees to prepare for potential medical expenses. For employers, HRAs or HSAs come with perks, including tax savings and increased employee retention.

Health Savings Account 52

Health Savings Account 401(k) Flexible Spending Account Taxes 52

Benefit Resource Inc.

DECEMBER 30, 2022

An HSA (Health Savings Account) is a great way to save up money tax-free for future medical expenses. Choosing between a Health Savings Account (HSA) and a Flexible Spending Account (FSA) can be overwhelming. To learn more about FSAs and HSAs, view our account comparison chart.

Taxes 75

Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

WEX Inc.

APRIL 12, 2023

Health saving accounts (HSAs) offer an excellent opportunity for participants to save money on healthcare expenses and for employers to support their employees’ wellness needs in a cost-efficient way. The information in this blog post is for educational purposes only. It is not legal or tax advice.

Health Savings Account 52

Health Savings Account Deductions Deductible Flexible Spending Account 52

InterWest Insurance Services

JANUARY 26, 2022

Nearly 40% of employers surveyed by the Kaiser Family Foundation in November 2021 said that they had made changes to their mental health and substance abuse benefits since the pandemic started. Health care affordability also correlates to sacrifices in care, including mental health care. The Centivo report found that: S.

Out of Pocket Cost 95

Out of Pocket Cost Deductions Deductible Flexible Spending Account 95

McDermott Will & Emery Employee Benefits

OCTOBER 19, 2022

The maximum salary reduction limit for a health flexible spending account (Health FSA) increased to $3,050 for 2023 (from $2,850 in 2022), and the Health FSA carryover […]. The post IRS Announces Cost-of-Living Adjustments for Health and Welfare Plans appeared first on EMPLOYEE BENEFITS BLOG.

Health and Welfare 78

Health and Welfare Flexible Spending Account Flexible Spending Salary 78

InterWest Insurance Services

JULY 20, 2022

Keep in mind that the ritual of choosing a benefits package is a brand-new experience for people who are new to the workforce, and you should prepare to educate new employees on how to effectively choose and use their new coverages, as well as all the details like premiums, deductibles and out-of-pocket expenses.

Education 93

Education 401(k) Deductions Deductible 93

InterWest Insurance Services

SEPTEMBER 27, 2023

Employees have a right to understand the costs they’ll be facing in each plan, including: Their share of the premium, Their deductible, Their copays or coinsurance, and Other out-of-pocket expenses. The lower the premium on the plan, the higher the deductibles and copays. Get an early start If your plan year starts Jan.

Out of Pocket Cost 72

Out of Pocket Cost Flexible Spending Account Health Savings Account Health Insurance 72

InterWest Insurance Services

MARCH 4, 2022

As rising health insurance premiums and out-of-pocket costs for health care are burdening workers, more employers are looking for ways to help their staff put aside money for those expenses. While health savings accounts have grown in popularity, you can only offer them to employees who are enrolled in high-deductible health plans.

Medical 91

Medical Health Insurance Out of Pocket Cost Deductions 91

Benefit Resource Inc.

OCTOBER 21, 2019

” In the case of pre-tax benefits, we like to say “There’s a plan for that” Regardless of your benefits problem, by comparing Flexible Spending Accounts, Health Savings Accounts and Health Reimbursement Accounts, you can find the right plan to fit your needs.

Flexible Spending Account 40

Flexible Spending Account Health Savings Account Flexible Spending 401(k) 40

Benefit Resource Inc.

MAY 27, 2021

Fortunately, there’s another option… Enroll in a Limited Purpose Flexible Spending Account (FSA). It’s a great partner plan if you have or want to enroll in a Health Savings Account (HSA). Copayments and dental plan deductibles. Check out this blog. Fluoridation services.

Flexible Spending Account 75

Flexible Spending Account Flexible Spending Health Savings Account Health 75

Empuls

JULY 11, 2023

In this blog, we will discuss tax free or non taxable employee benefits. tax free benefits are those that provide financial advantages for both employees and employers by avoiding certain taxes and deductions. The primary purpose of this blog is to explore various tax free employee benefits and shed light on their advantages.

Employee Benefits 40

Employee Benefits Flexible Spending Account roth 401(k) 401(k) 40

AssuredPartners

MARCH 31, 2020

Consumers may also receive reimbursement for OTC purchases through those accounts. It does not have an expiration date.n"},{"attributes":{"bold":true},"insert":"Implementation Tips:"},{"insert":"nNo changes are necessary to implement these changes to a Health Savings Account.

Health and Welfare 52

Health and Welfare Health Savings Account Out of Pocket Cost Flexible Spending Account 52

Benefit Resource Inc.

JUNE 4, 2019

While insurance is available to cover insulin, between high deductibles and the high cost of insulin, many are still left with bills that are difficult to pay. Both IVF and insulin treatments are considered eligible expenses under pre-tax benefit accounts. Rising above the cost of insulin. Making IVF and insulin more affordable.

Flexible Spending Account 85

Flexible Spending Account Flexible Spending Health Savings Account Insurance 85

Benefit Resource Inc.

OCTOBER 24, 2019

Out-of-pocket costs include deductibles, coinsurance, and copayments for covered services plus all costs for services that aren’t covered” This is where tax free accounts from Benefit Resource come in. Now, which pre-tax account you can enroll in depends on what kind of health insurance you have.

Out of Pocket Cost 45

Out of Pocket Cost Flexible Spending Account Flexible Spending Health Savings Account 45

McDermott Will & Emery Employee Benefits

NOVEMBER 1, 2023

The Social Security Administration […] The post IRS Announces 2024 Employee Benefit Plan Limits appeared first on EMPLOYEE BENEFITS BLOG. Most of the dollar limits that are subject to adjustment for cost-of-living increases will increase for 2024.

Health and Welfare 86

Health and Welfare Employee Benefits Flexible Spending Account Health Savings Account 86

McDermott Will & Emery Employee Benefits

NOVEMBER 10, 2023

Employers, many of whom are in the midst of or have already completed open enrollment for […] The post IRS Announces 2024 Employee Benefit Plan Limits appeared first on EMPLOYEE BENEFITS BLOG.

Health and Welfare 82

Health and Welfare Employee Benefits Flexible Spending Flexible Spending Account 82

Benefit Resource Inc.

MARCH 12, 2019

This may be the shortest blog on pre-tax benefits you will ever read. Each account you open requires you to “set” a new election. When you set an election with a Flexible Spending Account, the amount is locked in for the year. However, that is not what this account is used for. Pre-tax benefits.

Taxes 63

Taxes Flexible Spending Account Health Savings Account Medical 63

Benefit Resource Inc.

OCTOBER 30, 2018

In this section, we’ll explore areas related to Flexible Spending Accounts, Health Savings Accounts, and Health Reimbursement Accounts. 2) Increases your savings through payroll deductions because more employees are willing to enroll in pre-tax benefits.

Flexible Spending Account 56

Flexible Spending Account Taxes Health Savings Account Healthcare 56

McDermott Will & Emery Employee Benefits

OCTOBER 21, 2022

The post IRS Announces 2023 Employee Benefit Plan Limits appeared first on EMPLOYEE BENEFITS BLOG. The table below compares the applicable dollar limits for certain employee benefit programs and the Social Security wage base for 2022 […].

Employee Benefits 80

Employee Benefits Flexible Spending Account Employment Health Savings Account 80