WEX Inc.

FEBRUARY 15, 2023

Did you recently elect to participate in a medical flexible spending account (FSA) ? If you’re a first-time medical FSA participant, you may not be familiar with FSA definitions and rules. We’ve provided a list of the top things a first-time medical FSA participant should be aware of in order to take full advantage of their FSA.

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Medical Flexible Spending Account Flexible Spending Taxes 98

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. They’re eligible for reimbursement with an HSA or FSA. Are you preparing to send your kids back to school soon?

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 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? Children’s sunscreen, suntan lotion with SPF, and more are eligible for reimbursement with your HSA and medical FSA.

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Flexible Spending Account Health Savings Account Flexible Spending Medical 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. Break down the process of contributing to an FSA, eligible expenses , and the reimbursement process. Download now!

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Flexible Spending Account Take Home Pay Flexible Spending Healthcare 98

Benefit Resource Inc.

MARCH 28, 2024

Contributions to an HSA are tax-deductible, and withdrawals for qualified medical expenses are tax-free. Plan for Qualified Expenses Take some time to review what expenses are eligible for reimbursement under each type of pre-tax benefit. Plus, the funds can roll over year after year.

Flexible Spending Account 52

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

WEX Inc.

MAY 4, 2023

The IRS emphasized these requirements and potential penalties for employers not meeting the requirements when releasing an Office of the Chief Counsel memorandum last week detailing medical expense claim substantiation for medical FSAs and dependent care FSAs. The information in this blog post is for educational purposes only.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Taxes Medical 98

WEX Inc.

JUNE 5, 2023

If you’re a small business owner, the qualified small employer health reimbursement arrangement (QSEHRA) might be the benefits plan you’re looking for. You and your employees both save money because your reimbursements of their expenses are tax-free. How you will reimburse your employees. What is a QSEHRA?

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Health Insurance Healthcare Taxes Insurance 94

WEX Inc.

SEPTEMBER 12, 2023

In the second blog post in our three-part series to educate first-time participants, we walk through a few factors you should consider when choosing among employee benefits accounts for the first time. Click here for the first blog post in our series on choosing a health plan for the first time.

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Employee Benefits Flexible Spending Account Health Savings Account Life Insurance 52

InterWest Insurance Services

MARCH 4, 2022

Fortunately, there is another option: a health reimbursement arrangement (HRA). Employers fund these accounts, which reimburse your staff for qualified medical expenses and, in some cases, insurance premiums. Qualified medical expenses. It generally reimburses out-of-pocket medical expenses. How HRAs work.

Medical 98

Medical Health Insurance Out of Pocket Cost Deductions 98

InterWest Insurance Services

FEBRUARY 20, 2024

The trade-off, however, is that workers have a higher deductible — meaning they have to pay for a set amount of medical care and prescription drugs before the plan’s benefits truly kick in. HSAs are tax-advantaged accounts that allow enrollees to save up to pay qualified medical expenses.

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Deductions Deductible Out of Pocket Cost Health Savings Account 98

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. The IRS normally allows up to a $610 carryover in 2023 of medical FSA funds from one plan year to the next. What is a FSA?

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account IT 52

InterWest Insurance Services

AUGUST 10, 2023

While drugmakers have been assailed for years for increasing their prices and driving the cost of medications higher and higher, there is another player in the health care space that is receiving increased scrutiny: pharmacy benefit managers. Those rebates can be significant. And in Washington D.C., a bipartisan bill introduced in the U.S.

Out of Pocket Cost 98

Out of Pocket Cost Manufacturing Insurance Medical 98

InterWest Insurance Services

MARCH 14, 2024

You may also want to consider additional paid time off for doctor’s appointments, as many of these workers may have regular checkups for medical conditions they have (64% of baby boomers have at least one chronic condition, like heart disease or diabetes).

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Voluntary Benefits Benefits Package Insurance Health Insurance 98

Workers' Compensation

NOVEMBER 18, 2023

A New Jersey medical provider failed to select the appropriate cause of action and party to seek recovery for unpaid medical bills. The case highlights the bumping road for NJ medical providers who seek reimbursement in claims involving extra-jurisdictional work-related accidents. © 2023 Jon L Gelman.

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Medical Workers’ Compensation Insurance Carriers Hospitality 52

WEX Inc.

FEBRUARY 23, 2023

For medical FSAs, expenses for children through age 26 and spouses are permitted. By adding a bank account to your account, your HSA and/or FSA can reimburse you for out-of-pocket expenses through direct deposit, which is a faster way to be reimbursed. Stay updated on the latest trends and insight by subscribing to our blog !

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

InterWest Insurance Services

JUNE 2, 2023

For the most part, people use their funds in FSAs and HSAs to reimburse themselves for out-of-pocket costs like copays, health insurance deductibles and the cost of prescription medications. Vitamins and supplements Sleep deprivation treatment and medication Breast pumps Birth control devices (condoms, pills, etc.)

Out of Pocket Cost 98

Out of Pocket Cost Health Savings Account Medical Health Insurance 98

Workers' Compensation

SEPTEMBER 29, 2023

Social Security MSA recovery Social Security Medicare Set-Aside (MSA) recovery authorizes the Social Security Administration (SSA) to recover money from workers' compensation settlements to cover future medical expenses. The process is authorized by the Medicare Secondary Payer Act (MSP).

Workers’ Compensation 59

Workers’ Compensation Compensation System Government Pension 59

InterWest Insurance Services

MAY 26, 2023

While drugmakers have been assailed for years for increasing their prices and driving the cost of medications higher and higher, there is another player in the health care space that is receiving increased scrutiny: pharmacy benefit managers. Those rebates can be significant. And in Washington D.C., a bipartisan bill introduced in the U.S.

Out of Pocket Cost 98

Out of Pocket Cost Manufacturing Insurance Medical 98

Workers' Compensation

DECEMBER 28, 2022

jon@gelmans.com - www.gelmans.com Blog: Workers ' Compensation Twitter: jongelman LinkedIn: JonGelman LinkedIn Group: Injured Workers Law & Advocacy Group Author: "Workers' Compensation Law" Thomson-Reuters.

Workers’ Compensation 59

Workers’ Compensation Pension Medical Commissions 59

InterWest Insurance Services

JANUARY 18, 2024

The trade-off, however, is that workers have a higher deductible — meaning they have to pay for a set amount of medical care and prescription drugs before the plan’s benefits truly kick in. HSAs are tax-advantaged accounts that allow enrollees to save up to pay qualified medical expenses.

Out of Pocket Cost 83

Out of Pocket Cost Deductions Deductible Voluntary Benefits 83

Workers' Compensation

MAY 31, 2022

The US Supreme Court (SCOTUS) is scheduled to conference the Minnesota Supreme Court’s decision prohibiting reimbursement of medical marijuana costs in a workers’ compensation claim. The Petitioner for a Writ of Certiorari conference is listed for Thursday, June 16, 2022. Mendota Heights Dental Center, et al., 801 et seq.,

Medical 52

Medical Workers’ Compensation Insurance Carriers Government 52

InterWest Insurance Services

NOVEMBER 25, 2022

HSAs allow your staff to set aside a portion of their pre-tax earnings into an account they can tap later to reimburse for qualified medical expenses, including copays, coinsurance, deductibles and medications. Here’s the rundown of the changes going into 2023: HSAs and HDHPs. 3,000 for family coverage (up $200).

401(k) 98

401(k) Deductions Deductible Flexible Spending Account 98

InterWest Insurance Services

OCTOBER 5, 2023

A short five-minute session with a patient on a phone or video appointment will typically result in associated work, including reviewing the patient’s chart, updating notes and putting in orders for medications, tests or referrals.

Hospitality 98

Hospitality Deductions Deductible Insurance 98

Benefit Resource Inc.

MARCH 21, 2023

Check out our podcast episode: Mental Health & the Workplace or visit our blog. Medical or mental health therapy is eligible for reimbursement with a flexible spending account (FSA), health savings account (HSA), and health reimbursement account (HRA).

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account Education 52

InterWest Insurance Services

AUGUST 10, 2022

The reason: According to research from Johns Hopkins University, poorly managed chronic medical conditions cost employers an estimated $198 billion every year. These costs show up in several ways: Direct usage of medical services such as preventable ER visits and hospitalization. Absenteeism. Illness-related presenteeism.

Deductions 98

Deductions Deductible Family and Medical Leave Act Health Savings Account 98

InterWest Insurance Services

NOVEMBER 10, 2022

HSAs are savings accounts that allow your employees to put a portion of every paycheck into the account to bank for future medical expenses. You can do this by sending them lists of eligible expenses and directing them to online technology that helps them get reimbursed. Investors — This group of employees are also savers.

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401(k) Health Savings Account Health Insurance Insurance 97

InterWest Insurance Services

MARCH 15, 2022

It’s no secret that most employees do not fully understand all of their health insurance benefits, which can lead to worse health outcomes and them spending more money than they need to for some medical procedures. Claims reimbursement — They can submit claims digitally to get reimbursed for services.

Out of Pocket Cost 98

Out of Pocket Cost Health Savings Account Health Insurance Medical 98

InterWest Insurance Services

DECEMBER 7, 2023

FSA fast facts Funds in an FSA can be used for a myriad of health care expenses, from dental and vision (including eyeglasses) to medical care costs and prescription and over-the-counter pharmaceuticals. An FSA must be funded exclusively through employer contributions or employee pre-tax contributions, or a combination of the two.

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Flexible Spending Account Flexible Spending Pharmaceutical Health Savings Account 98

Achievers

FEBRUARY 2, 2021

Federal and state mandated benefits include health insurance, worker’s compensation, unemployment insurance, and required leave time for caring for family and/or personal medical purposes. Health insurance, and family and medical leave, are not required for all businesses. What are benefits that are voluntary?

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Employee Benefits Family and Medical Leave Act Employee Recognition Voluntary Benefits 237

Benefits Notes

FEBRUARY 9, 2022

The shipping costs are included in the $12 reimbursement limit. A participant may not double dip by having the medical plan reimburse the participant for the costs of the OTC COVID-19 tests and being reimbursed from a health flexible spending account (FSA), health savings account (HSA), or health reimbursement account (HRA).

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Flexible Spending Account Health Savings Account Retail Medical 40

InterWest Insurance Services

OCTOBER 27, 2022

As health care costs continue rising and employees are being asked to shoulder more of the expense burden, you can help them by offering a tax-advantaged plan that allows them to save for medical expenses. They are then reimbursed for their expense in the form of a check or account transfer. How an FSA works.

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Flexible Spending Account Employment Flexible Spending Deductions 97

Proskauer's Employee Benefits & Executive Compensa

FEBRUARY 7, 2022

The core coverage mandate described in FAQs Part 51 has not changed—plans are still required to cover, without participant cost-sharing, preauthorization, or medical management, at least eight FDA-approved OTC at-home COVID-19 tests per 30-day period per covered individual without a prescription or individualized clinical assessment.

Retail 52

Retail Manufacturing Medical Flexible Spending Account 52

Workers' Compensation

DECEMBER 11, 2021

jon@gelmans.com - www.gelmans.com Blog: Workers ' Compensation Twitter: jongelman LinkedIn: JonGelman LinkedIn Group: Injured Workers Law & Advocacy Group Author: "Workers' Compensation Law" Thomson-Reuters.

Workers’ Compensation 64

Workers’ Compensation Pension Medical Commissions 64

Workers' Compensation

JULY 2, 2022

Blog: Workers ' Compensation Twitter: jongelman LinkedIn: JonGelman LinkedIn Group: Injured Workers Law & Advocacy Group Author: "Workers' Compensation Law" Thomson-Reuters. Recommended Citation: Gelman, Jon L.,

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Global People Strategist

JUNE 8, 2022

Expats living in Thailand have access to world-class medical facilities once they sign up for the public medical aid system. This blog will give a better understanding of the healthcare programs in the country. There are two ways of getting medical services in Thailand. Thai Healthcare System. Public health.

Health Insurance 52

Health Insurance Insurance Hospitality Deductions 52

Benefit Resource Inc.

JUNE 17, 2021

When you reimburse for this expense, you help to ensure that possibility. You could either reimburse for the full bill regardless of price or set the maximum reimbursement amount to the standard cost in your area for a basic plan (e.g., $50). Reimburse for bicycle sharing programs. BLOG: SPECIALTY ACCOUNTS FOR ALL.

Food 52

Food Benefits Package Benefit Providers Work From Home 52

InterWest Insurance Services

JULY 20, 2022

Indeed, a 2021 study found that 29% of Gen Z respondents are carrying medical debt. If you can help them avoid amassing medical debt, and if they can get the most out of their benefits, you can increase worker satisfaction and retain key talent.

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Education 401(k) Deductions Deductible 98