WEX Inc.

JANUARY 3, 2023

An HSA comes with three key tax-free perks: Contributions are tax-free, earnings are tax-free, and withdrawals for eligible expenses are tax-free. The information in this blog post is for educational purposes only. It is not legal or tax advice. How much should you contribute to your HSA?

Education 52

Education Flexible Spending Account Health Savings Account Flexible Spending 52

WEX Inc.

MAY 15, 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. Check out our employee wellness guide below! By linking to these products, WEX is not endorsing these products.

Taxes 98

Taxes Consulting Education Employee Wellness 98

Employee Benefits

JANUARY 24, 2024

Crypto currency is subject to income tax when an employee receives it but could also incur a capital gains tax charge if they hold it for more than 30 days. Glenn Cameron, investment consultant at actuarial and pension specialists Cartwright, believes one of the currencies, Bitcoin, will become mainstream.

Global Payroll 105

Global Payroll Employment Taxes Pension 105

Employee Benefits

DECEMBER 22, 2023

Yet, gaps in financial education and familial wealth still exist when LGBTQ couples are compared to their non-LGBTQ counterparts. In fact, one in four LGBTQ Americans say they’ve experienced financial challenges due to their gender identity or sexual orientation, according to a 2019 Morning Consult poll.

401(k) 105

401(k) Health Insurance Finance Taxes 105

WEX Inc.

AUGUST 29, 2023

There is a wide range of potential treatments and services, including: In vitro fertilization (IVF) Fertility medications Diagnostic testing Egg freezing Fertility counseling and consultations Adoption assistance And more What fertility treatment does an HSA or FSA cover? The information in this blog post is for educational purposes only.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

APRIL 23, 2024

When you consolidate benefits solutions, you gain greater visibility into how employees engage with their benefits, allowing you to identify education gaps and tailor your plans to meet the diverse needs of employees. The information in this blog post is for educational purposes only. It is not legal or tax advice.

Benefit Providers 72

Benefit Providers Comprehensive Benefits Utilities Taxes 72

WEX Inc.

MAY 30, 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. Stay up to date on the latest in business payments by subscribing to our blog! Simply click “Subscribe” above.

Banking 52

Banking Finance Taxes Consulting 52

WEX Inc.

OCTOBER 31, 2023

Offer ongoing educational resources , such as handouts or videos to help employees understand their benefits and how to make the most of them. It also gives you more time to create communication strategies, educational materials, and train your team so they are well-prepared when the next open enrollment period arrives. Download now!

Taxes 94

Taxes Education Consulting Employment 94

WEX Inc.

MAY 24, 2023

How can your benefits messaging cater to your employees through benefits education? Increase convenience Increased convenience to benefits education can have a significant impact on an employee’s ability to understand their benefits. The information in this blog post is for educational purposes only.

Flexible Spending Account 97

Flexible Spending Account Health Savings Account Benefit Providers Flexible Spending 97

Employee Benefits

NOVEMBER 15, 2023

They could invest in financial coaching for a more personal approach to pensions education. From tailoring pensions education to different employee groups’ needs, to bringing in pensions experts to lead sessions, here are six ways for employers to boost workplace pensions knowledge and comprehension.

Pension 111

Pension Retirement Plan Education Finance 111

WEX Inc.

MAY 23, 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. WEX receives compensation from some of the merchants identified in its blog posts.

Technology 52

Technology Taxes Consulting Education 52

WEX Inc.

JULY 9, 2023

A dependent care flexible spending account lets participants set aside pre-tax dollars to help pay for dependent care. Contributing to this benefit reduces taxable income and spreads the benefits of pre-tax dollars throughout the year, helping you save 30 percent or more on your dependent care costs. It is not legal or tax advice.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Taxes Consulting 98

WEX Inc.

MAY 4, 2023

Because of an FSA’s tax advantages, the IRS requires employers and employees to prove that FSA funds are only being spent on eligible expenses. When employees participate in an FSA, employers save on FICA taxes since their participation reduces their taxable wages. 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.

AUGUST 10, 2023

Thanks to the (CARES) Act , you can use HSA or FSA pre-tax dollars to purchase over-the-counter medications with your pre-tax dollars — these include allergy medicine , pain relievers , heartburn medication , acid reflux relief and cold and flu remedies. The information in this blog post is for educational purposes only.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

APRIL 25, 2024

An HSA is a tax-advantaged savings account that allows you to save money specifically for medical expenses. Contributions to an HSA are tax-deductible, and funds can be used to pay for qualified medical expenses including: Doctor visits Prescriptions Dental care Vision care And many more! It is not legal or tax advice.

Health Savings Account 52

Health Savings Account Deductions Deductible Out of Pocket Cost 52

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.

Voluntary Benefits 98

Voluntary Benefits Health Savings Account PTO Retirement Plan 98

WEX Inc.

MAY 23, 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. Virtual cards are trending. Get your free infographic to learn more. Download now!

Taxes 52

Taxes Electronics Banking Consulting 52

WEX Inc.

JUNE 13, 2023

Education level influences access Employees’ education history also affects their retirement account access. Employees with lower levels of education often work lower-wage jobs that don’t offer these benefits. HSA funds can be invested, and earning through investment accumulates tax free.

Retirement Plan 98

Retirement Plan 401(k) IT Healthcare 98

WEX Inc.

MAY 9, 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. Simply hit the “Subscribe” button above or submit your email address in the form below.

Taxes 52

Taxes Consulting Education Software 52

WEX Inc.

SEPTEMBER 7, 2023

What you can do: Education is key. 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. The information in this blog post is for educational purposes only. Download now!

Flexible Spending Account 98

Flexible Spending Account Take Home Pay Flexible Spending Healthcare 98

WEX Inc.

APRIL 23, 2024

Be aware of the following: Taxes : Some of the most exciting global markets for expansion, such as Brazil, India, and Mexico, come bundled with intricate tax structures. The information in this blog post is for educational purposes only. It is not legal or tax advice. This can create headaches for your finance teams.

Taxes 52

Taxes Finance Consulting Education 52

WEX Inc.

OCTOBER 20, 2023

That said, educating your workforce on the differences between urgent care, the emergency room and telemedicine is extremely important. 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 counsel.

Healthcare 98

Healthcare Insurance Consulting Benefits Package 98

WEX Inc.

AUGUST 23, 2023

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. Check out our benefits trends report below! Get the latest benefits trends! Go to our webpage.

Voluntary Benefits 98

Voluntary Benefits Disability Insurance Life Insurance Insurance 98

WEX Inc.

SEPTEMBER 21, 2023

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. WEX receives compensation from some of the merchants identified in its blog posts.

Health 98

Health Flexible Spending Account Health Savings Account Flexible Spending 98

WEX Inc.

MAY 17, 2023

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. Be bold in support of your employees' retirement needs! With an HSA. Learn more!

Health Savings Account 98

Health Savings Account Deductions Deductible Taxes 98

WEX Inc.

MAY 28, 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 counsel. Would you like to learn more about how participants can lean on their HSA to plan for retirement? G et your free guide here.

Health Savings Account 52

Health Savings Account Medical Retirement Plan Taxes 52

WEX Inc.

AUGUST 7, 2023

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 counsel. WEX receives compensation from some of the merchants identified in its blog posts. By linking to these products, WEX is not endorsing these products.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

MARCH 14, 2023

An LSA is an employer-funded, post-tax spending account, with eligible expenses and plan details customized by your employer. Your taxable income will increase if you spend funds from your LSA, but any unused funds will not be taxed. It is not legal or tax advice. What is a lifestyle spending account (LSA)?

Taxes 98

Taxes Consulting Education Employment 98

WEX Inc.

OCTOBER 4, 2023

First, by giving them a way to save small amounts out of their payroll to make sure they have money there when they need it, and second to lower their costs through the tax savings of an HSA.” Recent HSA trends Recent HSA trends have revealed a need to focus on educating the consumer about HSAs and personalizing HSAs.

Health Savings Account 64

Health Savings Account Healthcare Education Taxes 64

Employee Benefits

APRIL 1, 2024

However, some local legislations encourage the provision of certain benefits through tax incentives, such as flexible welfare benefits in Italy, or wellbeing benefits in Sweden.” Tax regulations may influence savings plans, and legal barriers may restrict stock options or equity grants, as employee ownership rules differ by country.

Technology 104

Technology Health and Welfare Voluntary Benefits Payroll System 104

Money Talk

JANUARY 19, 2022

Make Tax-Advantaged Gifts - Consider “bunching” charitable donations with other tax deductions (e.g., state income tax and local property tax) every so often (e.g., Another tax-advantaged way to benefit from charitable gifts is to open a donor advised fund (DAF) with a major brokerage firm.

Flexible Spending Account 242

Flexible Spending Account Taxes Pension Deductions 242

WEX Inc.

MAY 31, 2023

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. Interested in purchasing HSA-eligible or FSA-eligible dental expenses? Check out FSA Store!

Medical 98

Medical Flexible Spending Account Health Savings Account Flexible Spending 98

Money Talk

APRIL 21, 2022

Check Credentials - What credentials, licenses and education does an advisor have? Other common designations for financial advisors are ChFC® (Chartered Financial Consultant®) and CPA®/PFS™ (Certified Public Accountant®/Personal Financial Specialist™). Many advisors will provide a short complimentary consultation.

Commissions 187

Commissions Finance Retirement Plan Consulting 187

WEX Inc.

MARCH 20, 2023

Without customized communication available, employees may not connect with all of your benefits updates or have the tools they need to make confident and educated decisions about their benefits. The information in this blog post is for educational purposes only. It is not legal or tax advice. Check out our handout.

Employment 98

Employment Flexible Spending Account Flexible Spending Education 98

WEX Inc.

MAY 8, 2023

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. Check out our free white paper about HDHPs, HSAs and retirement planning!

Deductions 97

Deductions Deductible Health Savings Account Employee Enrollments 97

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. A FSA is an account that allows you to set aside pre-tax funds to pay out-of-pocket healthcare costs.

Flexible Spending Account 98

Flexible Spending Account Deductions Deductible Health 98

WEX Inc.

JULY 24, 2023

HSA contributions made through payroll are not subject to the 7.65% FICA tax. Withdrawals for HSA eligible medical expenses are tax-free. HSA funds can be invested , and earnings through investment accumulate tax-free. With an HSA, pre-tax payroll contributions are exempt from both income taxes and the 7.65% FICA tax.”

Retirement Plan 98

Retirement Plan 401(k) Health Savings Account Taxes 98