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. If your employer offered you a raise, you wouldn’t say no, right?

401(k) 98

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

Benefit Resource Inc.

MARCH 28, 2024

Pre-tax benefits are a powerful tool for saving money and maximizing your income. From flexible spending accounts (FSAs) to health savings accounts (HSAs) and commuter benefits, these options offer significant advantages if managed wisely.

Flexible Spending Account 52

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

WEX Inc.

JULY 20, 2023

Nearly two-thirds of large employers offer their employees a choice between an HSA-eligible health plan (also known as a high-deductible health plan ) and a traditional health plan. Check out our infographic below and subscribe to our blog so you don’t miss the rest of our open enrollment series!

Deductions 75

Deductions Deductible Flexible Spending Account Health Savings Account 75

WEX Inc.

AUGUST 2, 2023

A flexible spending account (FSA) allows participants to save money by setting aside pre-tax dollars to pay for eligible medical, dental , vision and dependent care expenses incurred by you, your spouse, or your eligible dependents. FSAs are an employer-owned account , and the IRS sets limits on annual FSA contributions.

Flexible Spending Account 98

Flexible Spending Account Deductions Deductible Health 98

Money Talk

MAY 18, 2022

In an earlier blog post , I described 12 tax planning topics for 2022. Ramp Up Retirement Savings - Consider increasing retirement savings in a tax-deferred employer retirement savings plan (e.g., Saving even 1% more of pay can make a difference in later life. 401(k), 403(b), and traditional IRA).

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Taxes 401(k) Deductions Deductible 262

WEX Inc.

MAY 24, 2023

Often, employees feel confused about their benefits plans options, especially if their employer is using “complicated HR jargon” in their benefits messaging. Let’s explore tips on how employers can effectively communicate benefits messaging to employees in a way that’s relatable and easy to understand. It is not legal or tax advice.

Flexible Spending Account 97

Flexible Spending Account Health Savings Account Benefit Providers Flexible Spending 97

McDermott Will & Emery Employee Benefits

NOVEMBER 10, 2023

On November 9, 2023, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the applicable dollar limits for certain health and welfare plan benefits, including those for health flexible spending arrangements and commuter benefit plans, among other important updates.

Health and Welfare 82

Health and Welfare Employee Benefits Flexible Spending Flexible Spending Account 82

Benefit Resource Inc.

JANUARY 2, 2020

As we close out the decade, we look back at the most educational, news breaking blogs. From tax reform to how-to articles, here are the top 10 blogs from Benefit Resource: Check Your Balance. Turns out Health Reimbursement Accounts are confusing for employees and employers. Top 8 places to use your Health FSA.

Flexible Spending Account 40

Flexible Spending Account Flexible Spending Health Savings Account Taxes 40

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. Funds you or your employer contribute to your HSA can help with this.

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.

SEPTEMBER 7, 2023

Flexible spending accounts (FSAs) are a powerful tool for individuals and employers to save money on healthcare and dependent care expenses. Consider offering tools that estimate potential savings based on different expense levels, showcasing the value of even minor contributions to an FSA. Download now!

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Flexible Spending Account Take Home Pay Flexible Spending Healthcare 98

WEX Inc.

JULY 7, 2023

The IRS’ use-or-lose rule governs flexible spending accounts (FSAs). A flexible spending account (FSA) is an employer-sponsored benefit that allows employees to set aside a portion of their pre-tax salary to pay for qualified medical expenses or dependent care expenses. What is a FSA?

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Flexible Spending Account Flexible Spending Health Savings Account IT 52

Benefit Resource Inc.

DECEMBER 30, 2022

Pre-tax benefits are growing in popularity amongst employers and employees alike. This is because they offer a great way to save on taxes while still being able to use funds for medical, dependent care, and other expenses. An HSA (Health Savings Account) is a great way to save up money tax-free for future medical expenses.

Taxes 75

Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

WEX Inc.

AUGUST 24, 2023

This could include saving money, raising their kids, and preparing for retirement. It’s important not to lose sight of that when developing content and communicating that you offer a health savings account (HSA) , flexible spending account (FSA) , or any other benefits. It is not legal or tax advice.

Education 52

Education Flexible Spending Account Health Savings Account Flexible Spending 52

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.

JANUARY 16, 2020

The buzz phrase “health and wellness” is currently widely used to reference services or products that take a more holistic approach to care. So, how will this affect tax advantaged accounts like Flexible Spending Accounts and Health Reimbursement Accounts?

Health Savings Account 73

Health Savings Account Flexible Spending Account Flexible Spending Taxes 73

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

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. With employer-sponsored health plans, there’s fiduciary oversight. Follow DOL claims procedures.

Health Savings Account 52

Health Savings Account Deductions Deductible Flexible Spending Account 52

Benefit Resource Inc.

MARCH 21, 2023

Mental health is an important component of overall workplace wellness. Employees with access to mental health resources and a better understanding of their mental health are more likely to be productive and engaged in their work. Depression alone results in 200 million lost workdays , costing employers up to 44 billion dollars.

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account Education 52

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

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.

401(k) 88

401(k) Deductions Deductible Flexible Spending Account 88

WEX Inc.

SEPTEMBER 6, 2023

Being able to differentiate yourselves as an employer by saying ‘Whatever is important to you (like your pets) is important to us too’ really helps employers to stand out,” said Moszer on our Benefits Buzz podcast. The information in this blog post is for educational purposes only. It is not legal or tax advice.

Recruitment 59

Recruitment Flexible Spending Account Health Savings Account Medical 59

InterWest Insurance Services

JANUARY 26, 2022

Mental health issues have come to the fore during the COVID-19 pandemic, spurring employers to expect their group health plans to do more for their workers in this area. The Centivo report found that: S. These are funded with deductions from the employees’ salaries before taxes are taken out.

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Out of Pocket Cost Deductions Deductible Flexible Spending Account 95

Benefit Resource Inc.

OCTOBER 27, 2020

There were no changes to limits for the commuter accounts or medical flexible spending account. Employers must initiate a change. Find it here: 2020 Limits: Pre-tax accounts. 2020 Limits: Health savings accounts. Details below. 2021 Limits: Mass Transit and Parking.

Flexible Spending Account 40

Flexible Spending Account Health Savings Account Flexible Spending Medical 40

InterWest Insurance Services

SEPTEMBER 27, 2023

This is especially true if you are making changes to cost-sharing, introducing new plans, or offer voluntary benefits, a wellness plan or health savings account or flexible spending account. The takeaway Open enrollment can be a hectic and stressful time for both the employer and workers.

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. Fortunately, there is another option: a health reimbursement arrangement (HRA). per month). per month).

Medical 91

Medical Health Insurance Out of Pocket Cost Deductions 91

Benefit Resource Inc.

FEBRUARY 18, 2020

It is important to understand the specific rules for your employer’s plan. Health Savings Accounts are not subject to COBRA, but they play an important role in benefits continuation. Health Savings Accounts tend to get a little trickier. So this is were the hair splitting begins.

Taxes 40

Taxes Flexible Spending Account Health Savings Account Flexible Spending 40

Benefit Resource Inc.

JUNE 27, 2019

As an overview, a pre-tax account is a type of benefit your employer may offer to help you cover out-of-pocket expenses. There are a variety of different plans and accounts available. Two of the most common accounts are a Health Savings Account (HSA) and a Flexible Spending Account (FSA).

Flexible Spending Account 63

Flexible Spending Account Health Flexible Spending Health Savings Account 63

InterWest Insurance Services

JULY 20, 2022

If they are not educated on their options and how health plans work, those new to employment can make poor decisions that could have serious financial repercussions. Deductibles — Explain how deductibles work and that depending on their plan they may pay the full price for health care services until they’ve met their deductible.

Education 93

Education 401(k) Deductions Deductible 93

Benefit Resource Inc.

JUNE 4, 2019

Both IVF and insulin treatments are considered eligible expenses under pre-tax benefit accounts. Through an account like a Flexible Spending Account or Health Savings Account (or Health Reimbursement Account, depending on the employer), the exorbitant expense of IVF and insulin are made somewhat more manageable.

Flexible Spending Account 85

Flexible Spending Account Flexible Spending Health Savings Account Insurance 85

McDermott Will & Emery Employee Benefits

NOVEMBER 1, 2023

The Internal Revenue Service recently announced the cost-of-living adjustments to the applicable dollar limits for various employer-sponsored retirement and welfare plans for 2024. Certain health and welfare plan limits have not yet been released.

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

Empuls

JULY 11, 2023

In the ever-evolving world of employment, organizations are increasingly focusing on enhancing employee satisfaction and well-being. In this blog, we will discuss tax free or non taxable employee benefits. 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 18, 2019

A Medical FSA is not compatible with a Health Savings Account (another pre-tax account that your employer may offer). You cannot have both accounts at the same time. A Limited FSA is compatible with a Health Savings Account. You can have both accounts at the same time.

Health Savings Account 63

Health Savings Account Health Medical Taxes 63

McDermott Will & Emery Employee Benefits

OCTOBER 21, 2022

The Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social Security wage base for 2023.

Employee Benefits 80

Employee Benefits Flexible Spending Account Employment Health Savings Account 80

Benefit Resource Inc.

AUGUST 4, 2020

Especially if you have a Health Savings Account, or HSA. As a crash course for those of you who maybe aren’t as familiar with your benefits as you’d like to be, a Health Savings Account is a tax-free account that allows you to purchase certain medical expenses that are determined by the IRS and your employer.

Health Savings Account 40

Health Savings Account Flexible Spending Account Hospitality Taxes 40

Benefit Resource Inc.

MARCH 12, 2019

This may be the shortest blog on pre-tax benefits you will ever read. Of note: pre-tax benefits are only available if your employer offers them. Your employer may offer one or all. Each account you open requires you to “set” a new election. Dependent Care Account. Witness the transformation.

Taxes 63

Taxes Flexible Spending Account Health Savings Account Medical 63