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. In the last year alone, we’ve learned a lot about pre-tax benefits and how to maximize their potential.

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Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

WEX Inc.

AUGUST 10, 2023

You might be surprised to learn that your health savings account (HSA) and medical flexible spending account (FSA) can help you save on purchases of a variety of back-to-school, expenses, including: Thermometers. The information in this blog post is for educational purposes only. OTC medicines.

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WEX Inc.

AUGUST 29, 2023

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? The information in this blog post is for educational purposes only. It is not legal or tax advice. What are fertility benefits?

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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

OCTOBER 4, 2023

Participating in a health savings account (HSA) or flexible spending account (FSA) is a great way to save money. Health savings account An HSA is an individually owned benefits plan funded by you or your employer that lets you save on purchases of eligible expenses.

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

WEX Inc.

SEPTEMBER 21, 2023

Visual health is a vital component of overall well-being, and unexpected eye-related expenses can put a strain on your finances. However, for participants of health savings accounts (HSAs) or medical flexible spending accounts (FSAs) , there are ways to alleviate the financial burden associated with vision-related costs.

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Health Flexible Spending Account Health Savings Account Flexible Spending 98

WEX Inc.

AUGUST 7, 2023

Sunscreen can cost as much as $40 a bottle, but did you know you can actually use your health savings account (HSA) or medical flexible spending account (FSA) funds on many SPF-related expenses? WEX receives compensation from some of the merchants identified in its blog posts. It is not legal or tax advice.

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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

MAY 17, 2023

Health savings account (HSA) contribution limits are on the rise again in 2024. The information in this blog post is for educational purposes only. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers. With an HSA. Learn more!

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Health Savings Account Deductions Deductible Taxes 98

WEX Inc.

MAY 31, 2023

For those who have health savings accounts (HSAs) or medical flexible spending accounts (FSAs) , there are opportunities to save money on these expenses. The information in this blog post is for educational purposes only. It is not legal or tax advice. Check out FSA Store!

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Medical Flexible Spending Account Health Savings Account Flexible Spending 98

WEX Inc.

MAY 8, 2023

HDHPs can actually be a great healthcare saving option for employees of all ages. Along with paying a lower premium, HDHPs offer financial opportunities that PPOs do not because employees can enroll in a health savings account (HSA) , but only if they’re also enrolled in an HSA-eligible HDHP.

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WEX Inc.

SEPTEMBER 14, 2023

If you rarely go to the doctor or would like to enroll in a health savings account (HSA) , an HSA-eligible health plan may be right for you! For example, do you have any new dependents who have healthcare needs and could be covered by a pre-tax benefits plan?

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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. This includes copayments, deductibles, prescriptions, and more.

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

Money Talk

APRIL 28, 2022

Methods include webinars, podcasts, blogs, television and radio shows, print media, websites, and more. Health Savings Accounts - One study found that the tax savings on many employees’ contributions to a health savings account (HSA) increases wealth by more than an employer match on the same employees’ 401(k) contributions.

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401(k) Health Savings Account Finance Retirement Plan 183

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. So far, prices have held steady… Pre-tax limits. Stay on the ball and check view 2020 pre-tax limits here and here.

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Flexible Spending Account Flexible Spending Health Savings Account Taxes 40

WEX Inc.

OCTOBER 4, 2023

The 20th anniversary of health savings accounts (HSAs) marks a significant milestone for these accounts, which have empowered tens of millions of Americans to save for both immediate and future medical expenses. The information in this blog post is for educational purposes only.

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WEX Inc.

MAY 8, 2024

For example, My HSA Planner makes learning about how to utilize health savings accounts (HSAs) a breeze. The information in this blog post is for educational purposes only. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.

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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.

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WEX Inc.

FEBRUARY 23, 2023

In fact, staying on top of your health savings account (HSA) , flexible spending account (FSA) , or any other plan you signed up for throughout the year can pay off for you. Add dependents Your HSA or FSA may cover your dependents’ costs if the dependents are claimed on your tax return. How do you do this?

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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." The information in this blog post is for educational purposes only. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.

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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.

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Deductions Deductible Healthcare Flexible Spending Account 98

InterWest Insurance Services

FEBRUARY 20, 2024

Failing to offer a health savings account The idea behind HDHPs is that the money employees save on premium can be funneled into an attached HSA, which can be used to reimburse out-of-pocket medical expenses. HSAs are tax-advantaged accounts that allow enrollees to save up to pay qualified medical expenses.

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WEX Inc.

SEPTEMBER 25, 2023

A great example of this is education at summertime around how to maximize your health savings account (HSA) dollars for typical hot weather spending such as sunscreen and aloe vera! The information in this blog post is for educational purposes only. It is not legal or tax advice.

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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. Subscribe to our blog to stay updated on all the benefits information!

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WEX Inc.

MAY 12, 2023

There are a variety of ways you can promote mental health in the office , and one way is to provide benefits that support your employees' needs. For example, your employees can use their health savings account (HSA) to improve their financial wellness and save money on a variety of mental health-related expenses.

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Health Savings Account Medical Retirement Plan Taxes 98

WEX Inc.

SEPTEMBER 7, 2023

Empower your employees with helpful resources that answer many of their lingering questions, including our blog , benefits toolkit , and knowledgebase of FSA-related videos and educational materials. What you can do: Address this concern by emphasizing the savings potential of an FSA. It is not legal, financial, or tax advice.

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Benefit Resource Inc.

APRIL 4, 2024

One often-overlooked gem in the world of benefits is the Health Savings Account (HSA). Understanding HSAs HSAs are tax-advantaged savings accounts designed to help individuals save for medical expenses. Tax-Efficient Savings In retirement, healthcare expenses tend to increase.

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401(k) Retirement Plan Benefits Package Deductions 52

InterWest Insurance Services

DECEMBER 7, 2023

Earlier in 2023, the IRS also announced the maximum contribution limits to health savings accounts, which are similar to FSAs, but they must be attached to a high-deductible health plan. An FSA must be funded exclusively through employer contributions or employee pre-tax contributions, or a combination of the two.

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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.

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Benefit Resource Inc.

FEBRUARY 18, 2020

So, it is not surprising that most people get stumped by the question, “What is the link between pre-tax benefits and COBRA?” 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.

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Taxes Flexible Spending Account Health Savings Account Flexible Spending 40

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. Also, employees can’t be enrolled in Medicare or be claimed as a dependent on someone else’s tax return.

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Health Savings Account Deductions Deductible Flexible Spending Account 52

WEX Inc.

JANUARY 30, 2023

And a new health savings account (HSA). You also don’t need to report a transfer on your tax return. This process differs from a transfer because you’re taking ownership of the funds for a time, which means you will have to report any rollovers with your tax return. It is not legal or tax advice. New career.

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WEX Inc.

JULY 7, 2023

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. With a health savings account (HSA) , all funds carry over from year to year. It is not legal or tax advice.

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Benefit Resource Inc.

JANUARY 16, 2020

Incorporating lifestyle components into pre-tax accounts. 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?

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Health Savings Account Flexible Spending Account Flexible Spending Taxes 73

Benefit Resource Inc.

MARCH 12, 2019

This may be the shortest blog on pre-tax benefits you will ever read. We’re going to take 5 minutes to redefine 9 confusing pre-tax phrases used in pre-tax benefits. Pre-tax benefits. Pre-tax benefits are, in effect, a way to decrease your income before taxes so you pay less in taxes.

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Taxes Flexible Spending Account Health Savings Account Medical 63

InterWest Insurance Services

JANUARY 17, 2023

How Medicare eligibility affects health savings accounts. Discontinuing group health coverage. Health savings accounts. Those who fail to stop making HSA contributions in that period may face tax penalties. The following are considerations for employers faced with workers nearing 65.

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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. 3,000 for family coverage (up $200).

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401(k) Deductions Deductible Flexible Spending Account 98

InterWest Insurance Services

JANUARY 18, 2024

Failing to offer a health savings account The idea behind HDHPs is that the money employees save on premium can be funneled into an attached HSA, which can be used to reimburse out-of-pocket medical expenses. HSAs are tax-advantaged accounts that allow enrollees to save up to pay qualified medical expenses.

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Out of Pocket Cost Deductions Deductible Voluntary Benefits 74

InterWest Insurance Services

NOVEMBER 10, 2022

If you have Gen Z workers, you should consider sending out e-mail blasts to them about this law and that if they are turning 26 in the coming year, they’ll need to find new coverage other than their parents’ Health savings accounts. These accounts can be kept for life and transferred to new employers.

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