WEX Inc.

FEBRUARY 15, 2023

Did you recently elect to participate in a medical flexible spending account (FSA) ? What is a medical flexible spending account (FSA)? A medical FSA is a tax-advantaged employee benefit that gives participants the opportunity to save on out-of-pocket medical, dental, and vision eligible expenses.

Medical 98

Medical Flexible Spending Account Flexible Spending Taxes 98

WEX Inc.

MAY 4, 2023

The IRS requires your flexible spending account (FSA) participants to submit documentation to prove their purchase was an eligible expense. 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. It is not legal or tax advice.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Taxes Medical 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. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.

Medical 98

Medical Flexible Spending Account Health Savings Account Flexible Spending 98

WEX Inc.

AUGUST 14, 2023

A flexible spending account (FSA) carryover is one way you can provide flexibility to employees who participate in these accounts. It is not legal, financial, or tax advice. For legal, financial, or tax advice, you should consult your own legal counsel, tax and investment advisers.

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Flexible Spending Account IT Flexible Spending Taxes 98

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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Flexible Spending Account Deductions Deductible Health 98

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.

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Flexible Spending Account Taxes Pension Deductions 242

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. Illustrate how pre-tax contributions lead to significant savings over time, effectively reducing the impact on take-home pay. It is not legal, financial, or tax advice.

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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. It is not legal or tax advice.

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Flexible Spending Account Flexible Spending Health Savings Account IT 52

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?

Flexible Spending Account 98

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

WEX Inc.

MAY 24, 2023

It’s about what a health savings account or a flexible spending account can do for them." It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers. The information in this blog post is for educational purposes only.

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Flexible Spending Account Health Savings Account Benefit Providers Flexible Spending 97

Benefit Resource Inc.

MAY 6, 2019

Two of the most common options are a Dependent Care FSA or the child care tax credit. A Dependent Care Flexible Spending Account (DC FSA) helps employees pay for eligible child care expenses by reducing taxable income through payroll deductions. The savings vary depending on which tax bracket an employee is in.

Taxes 85

Taxes Flexible Spending Account Flexible Spending Deductions 85

Benefit Resource Inc.

MARCH 20, 2024

Every day, we have the privilege of working closely with thousands of employers, employees, and consultants, fostering relationships built on trust to simplify benefits and offer tax-advantaged savings and peace of mind,” said Jennie Boeckmann, BRI regional sales manager.

Health Savings Account 52

Health Savings Account Flexible Spending Account Flexible Spending Taxes 52

WEX Inc.

AUGUST 15, 2023

HSAs and FSAs as an option Health savings accounts (HSAs) and flexible spending accounts (FSAs) are among the pre-tax accounts you can contribute funds to and save money on healthcare costs. However, your eligibility for either account can be influenced by the health plan you choose.

Deductions 98

Deductions Deductible Healthcare Flexible Spending Account 98

Health Consultants Group

OCTOBER 1, 2021

When you comply with their guidelines, the IRS doesn’t require you to withhold FICA, FUTA, Medicare, or income taxes from pre-tax contributions. Health Savings Accounts. Flexible Spending Accounts: funded by salary reduction. Call Health Consultants Group at (800) 367-2482. Adoption Benefits.

Employee Benefits 86

Employee Benefits Family and Medical Leave Act Flexible Spending Account Health Savings Account 86

WEX Inc.

JANUARY 4, 2023

Flexible Spending Account (FSA) If you were enrolled in an FSA prior to electing COBRA, you may still be able to tap into your FSA funds. Your ability to spend down funds depends on a number of factors, and those factors can be specific to your employer’s FSA. It is not legal or tax advice.

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Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

CorpStrat

JANUARY 22, 2024

This means your employees can consult healthcare professionals from the comfort of their homes, saving time and reducing the need for in-person visits. To learn more about how to communicate your employee benefit plans effectively, read our full article. Hidden Gems In Your Employee Benefits Plan 1.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

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. Why adding an FSA makes an HSA even better Did you know that you can participate in both an HSA and a flexible spending account (FSA)?

Education 52

Education Flexible Spending Account Health Savings Account Flexible Spending 52

WEX Inc.

MARCH 20, 2023

When things change at lightspeed, it is imperative to have team members who understand what you need to do to stay in compliance, but also develop a detailed plan to execute, predict and account for downstream impacts. It is not legal or tax advice. For legal or tax advice, you should consult your own counsel.

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Employment Flexible Spending Account Flexible Spending Education 98

Benefit Resource Inc.

MAY 2, 2023

Significant areas of focus are healthcare costs and pre-tax benefits. Offering pre-tax benefits First, if employee benefits aren’t already offered, employers can help alleviate the financial burden of healthcare costs for their employees by providing pre-tax benefits.

Employment 52

Employment Flexible Spending Account Benefits Package Healthcare 52

Business Management Daily

NOVEMBER 15, 2021

Flexible Spending Accounts allow employees to set aside pre-tax dollars from their paycheck to use for medical or dependent care expenses. These funds are placed in an FSA account that employees can use to pay for eligible expenses. Lactation supplies such as breast pumps and lactation consulting.

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Flexible Spending Account Flexible Spending Medical Healthcare 98

WEX Inc.

SEPTEMBER 6, 2023

HSAs and FSAs: Service dog expenses Health savings accounts (HSAs) and flexible spending accounts (FSAs) may provide an additional avenue for covering the cost of a service dog. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.

Recruitment 59

Recruitment Flexible Spending Account Health Savings Account Medical 59

WEX Inc.

APRIL 12, 2023

They can’t be covered by any other health plan that would disqualify them from an HSA, such as a spouse’s plan or a medical flexible spending account (FSA). Also, employees can’t be enrolled in Medicare or be claimed as a dependent on someone else’s tax return. It is not legal or tax advice.

Health Savings Account 52

Health Savings Account Deductions Deductible Flexible Spending Account 52

Griffin Benefits

OCTOBER 1, 2022

Additionally, account-based plans, like health reimbursement arrangements (HRAs) and health care flexible spending accounts (FSAs), are not required to report. Excepted benefits (e.g., Finally, short-term limited duration insurance (which is typically an individual market product) is also exempt.

Insurance Carriers 65

Insurance Carriers Employment Flexible Spending Account Insurance 65

Benefit Resource Inc.

APRIL 21, 2021

Many of them affected pre-tax benefits plan and continuation coverage, also referred to as COBRA. Flexible Spending Accounts are not eligible for subsidy. Plan sponsors are responsible for paying premiums to the carrier and will receive a tax credit against their quarterly payroll taxes. When will it end?

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Flexible Spending Account Taxes Flexible Spending Insurance 74

Insperity

FEBRUARY 13, 2018

This alone can help ease some of your employees’ money concerns because they will have the opportunity to get things like medical insurance, disability, flexible spending accounts, retirement plans and more. They’ll have even more money at retirement thanks to your company, plus you’ll receive a tax benefit.

401(k) 73

401(k) Disability Insurance Flexible Spending Account Deductions 73

Benefit Resource Inc.

OCTOBER 1, 2020

ROCHESTER , NY, October 1 , 2020 – B enefit Resource , LLC (BRI) today announced the acquisition o f 121 Benefit s , a Minneapolis-based administrator of pre-tax benefits and benefit continuation services. This marks the first acquisition for BRI since its strategic partnership with CIP Capital in August 2019. . “

Flexible Spending Account 45

Flexible Spending Account Health Savings Account Flexible Spending Transportation 45

AssuredPartners

FEBRUARY 3, 2020

The US Supreme Court ruled that the ACA individual mandate penalty (tax) was constitutional in 2012, and in December of 2017, Congress passed the Tax Cuts and Jobs Act, which reduced the individual mandate penalty to zero as of January 1, 2019. In fact, Massachusetts has been taxing its citizens since 2007.nIn

Taxes 52

Taxes Flexible Spending Account Flexible Spending Healthcare 52

Benefit Resource Inc.

MARCH 7, 2019

So far, I’ve shared my experiences about how I saved on my commute and health insurance with tax-free accounts. On top of my CBP and my HSA, I can now sign up for a Dependent Care Flexible Spending Account (DC FSA). That’s a mouthful, so I just think of it as a Daycare Account. Good question.

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Flexible Spending Account Taxes Medical Health 40

Empuls

OCTOBER 11, 2023

These taxes can either be grossed up from the organization’s behalf or can be taken care of by the employee. Bundled Healthcare Savings With doctor's consultation fees skyrocketing every passing year, many people are intimidated by the thought of visiting the doctor's office. What Health and Wellness Stipends Are Not?

Healthcare 40

Healthcare Medical Consulting Flexible Spending Account 40

Empuls

JULY 11, 2023

Alongside competitive salaries and career growth opportunities, companies are now offering a wide array of tax free or non taxable employee benefits to attract and retain top talent. In this blog, we will discuss tax free or non taxable employee benefits. In this blog, we will discuss tax free or non taxable employee benefits.

Employee Benefits 40

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

WEX Inc.

JULY 20, 2023

HSA or FSA options Similar to the choice in health plans, many participants told us in the survey that they wanted to choose between either a health savings account (HSA) or a flexible spending account (FSA). It is not legal, financial, or tax advice.

Deductions 75

Deductions Deductible Flexible Spending Account Health Savings Account 75

WEX Inc.

AUGUST 24, 2023

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. That’s what motivates your employees. Check out our infographic below.

Education 52

Education Flexible Spending Account Health Savings Account Flexible Spending 52

Insperity

MARCH 12, 2024

Flexible spending accounts (FSAs) and health savings accounts (HSAs) HSAs and FSAs can help employees better prepare for medical expenses and, in the case of HSAs, even help employees enhance their retirement savings. Funds can be withdrawn for non-eligible expenses, but they will be taxed.) According to the U.S.

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Family and Medical Leave Act Employee Benefits PTO 401(k) 57

Vantage Circle

NOVEMBER 23, 2023

A 401(k) is a tax-advantaged retirement savings program provided by employers. In this, employees can elect to have a portion of their earnings automatically deducted from their paychecks and directed into their investment account. Flexible Spending Accounts (FSAs) emerge as a savvy perk, offering employees a financial win-win.

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Family and Medical Leave Act 401(k) Retirement Plan roth 401(k) 64

Benefit Resource Inc.

FEBRUARY 25, 2020

If you offer a Dependent Care Flexible Spending Account, (DCFSA) you know it can provide a lot of really great child care benefits. And you probably also know that the limits on the account have been stuck at $5,000 for those married and filling jointly, or $2,500 for single taxpayers.

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Flexible Spending Account Flexible Spending Deductions Deductible 40

CorpStrat

APRIL 30, 2021

The subsidy requirement applies to major medical, dental, and vision plans offered by employers, but does not apply to Health Flexible Spending Accounts (HFSA). Will AEIs be responsible for COBRA taxes? What tax benefit will employers receive? The amount of the COBRA premium subsidy is not taxable to the AEI.

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Flexible Spending Account Taxes Flexible Spending Insurance 52

WEX Inc.

FEBRUARY 2, 2023

FSAs and HRAs EBSA Disaster Relief Notice 2020-01 also granted a temporary extension to run-out periods for flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs). This flexibility was first provided as part of the 2020 CARES Act. It is not legal or tax advice.

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Flexible Spending Account Health Savings Account Flexible Spending Taxes 52