Proskauer's Employee Benefits & Executive Compensa

MARCH 22, 2022

Effective April 1, 2022, high-deductible health plans can once again offer first-dollar coverage for telehealth and other remote services without making participants ineligible for health savings account (“HSA”) contributions.

Deductions 97

Deductions Deductible Health Savings Account Taxes 97

Benefit Resource Inc.

JUNE 20, 2019

Not all payroll deductions are created equal. Some people (although not many) may engage in a heated debate on the value of pre-tax deductions vs. post-tax deductions. Colleagues (even in our own organization) have asked “Why do we need post-tax deductions?” What is a pre-tax deduction?

Deductions 53

Deductions Deductible Taxes Health Savings Account 53

Benefit Resource Inc.

FEBRUARY 23, 2023

Health Savings Accounts (HSAs) are tax-advantaged accounts that allow you to pay for medical expenses now and in the future. Whether you already have an HSA or are looking at this account for the first time, BRI is here to share why we love this account so much. HSAs Are Not Use-It-Or-Lose.

Health Savings Account 52

Health Savings Account 401(k) Retirement Plan Taxes 52

WEX Inc.

APRIL 25, 2024

High-deductible health plans (HDHPs) have become increasingly popular over the last few years by offering unique features and benefits that appeal to many individuals and families. An HDHP is a type of health plan characterized by its higher deductibles and typically lower premiums compared to traditional health plans.

Health Savings Account 52

Health Savings Account Deductions Deductible Out of Pocket Cost 52

Benefit Resource Inc.

DECEMBER 21, 2022

Health savings accounts (HSAs) allow employees to save and build wealth for future medical costs. One of the biggest benefits of using an HSA is that the contributions are tax-deductible. One of the biggest benefits of using an HSA is that the contributions are tax-deductible.

Health Savings Account 52

Health Savings Account Taxes Medical Health Insurance 52

WEX Inc.

MARCH 7, 2023

The season for filing taxes is upon us once again. We wanted to share a few tips and reminders about the health savings account (HSA) information you’ll need for your tax return. It also shows pre-tax contributions made to your account by you and your employer through payroll deductions.

Taxes 98

Taxes Health Savings Account Deductions Deductible 98

Stratus.HR

JUNE 11, 2021

High Deductible Health Plans (HDHP) and Health Savings Accounts (HSA) are growing more and more popular each year. Considering they have lower premiums and provide the ability to use pre-tax dollars to pay for out-of-pocket costs, what’s not to love? HSA as a Retirement Account. Do Your Homework.

Deductions 76

Deductions Deductible Out of Pocket Cost Health Savings Account 76

Snell & Wilmer Benefits

JANUARY 24, 2023

If you sponsor a high deductible health plan (“HDHP”) and have been tracking telehealth relief, your head may be spinning and rightfully so! The relief allows, but does not require, HDHPs to provide telehealth and other remote care services on a pre-deductible basis without making participants health savings account (“HSA”) ineligible.

Deductions 52

Deductions Deductible Family and Medical Leave Act Health and Welfare 52

Money Talk

JUNE 28, 2023

Below are ten mid-year financial tweaks and tasks: Tax-Deferred Savings Tweak - Perhaps you will get a raise on July 1. Consider completing the paperwork needed to save more money from July to December in your employer’s tax-deferred retirement savings plan. Even 1% more of pay in savings adds up over time.

Flexible Spending Account 239

Flexible Spending Account Banking Health Savings Account Finance 239

PeopleKeep

OCTOBER 26, 2020

The percentage of workers covered under HDHP plans has increased from four percent of all employer-sponsored health insurance plans in 2006 to 31 percent in 2020. A high deductible health plan (HDHP) paired with a Health Savings Account (HSA) is growing in popularity because it allows employees to pay for medical expenses tax-free.

Deductions 75

Deductions Deductible Health Savings Account Health Insurance 75

Snell & Wilmer Benefits

JANUARY 24, 2023

If you sponsor a high deductible health plan (“HDHP”) and have been tracking telehealth relief, your head may be spinning and rightfully so! The relief allows, but does not require, HDHPs to provide telehealth and other remote care services on a pre-deductible basis without making participants health savings account (“HSA”) ineligible.

Deductions 40

Deductions Deductible Family and Medical Leave Act Health and Welfare 40

WEX Inc.

MAY 8, 2023

More employees are enrolling in a high-deductible health plan (HDHP) each year, including more than half of U.S. But there are still misunderstandings that exist among employees about the significant value of an HDHP (or HSA-eligible health plan) and how it compares to a traditional health plan.

Deductions 97

Deductions Deductible Health Savings Account Employee Enrollments 97

WEX Inc.

MAY 17, 2023

2024 HDHP minimum deductible and maximum out-of-pocket limits also are increasing. Health savings account (HSA) contribution limits are on the rise again in 2024. 2024 high-deductible health plan (HDHP) amounts and expense limits also increased. It is not legal or tax advice. With an HSA. Learn more!

Health Savings Account 98

Health Savings Account Deductions Deductible Taxes 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.

401(k) 98

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

WEX Inc.

MARCH 16, 2023

How much should I contribute to my health savings account (HSA) each month? If you’re covered by an HSA-eligible health plan (or high-deductible health plan ), the IRS allows you to put as much as $3,650 per year (in 2022) into your health savings account (HSA). What is an HSA?

Health Savings Account 98

Health Savings Account Deductions Deductible Healthcare 98

Benefit Resource Inc.

OCTOBER 31, 2022

But, there’s one thing that doesn’t have to be scary this Halloween —your pre-tax benefits! Commuter benefits, flexible spending accounts, dependent care, and health savings accounts are just a few of the great employee benefits available to help you save money and reduce stress. Happy Halloween!

Taxes 75

Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

Benefit Resource Inc.

JANUARY 3, 2023

Whether you’re looking to retire, advance your career, or prioritize your health, now is the perfect time to start planning your journey. If you’re in the 70% of people who have health-related goals for 2023, let’s take a look at how pre-tax benefits can help set goals and prioritize your health this year and beyond.

Utilities 98

Utilities Taxes Flexible Spending Account Flexible Spending 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.

Flexible Spending Account 52

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

Benefit Resource Inc.

FEBRUARY 7, 2024

A key player in the balance between health and wealth is the health savings account (HSA). Understanding HSAs Health Savings Accounts are tax-advantaged savings accounts designed to help individuals and families with high-deductible health plans (HDHPs) cover medical expenses.

Health Savings Account 52

Health Savings Account Healthcare Deductions Deductible 52

InterWest Insurance Services

JANUARY 18, 2024

With more than half of all private sector employees enrolled in high-deductible health plans , it’s important that employers have in place certain protocols to ensure that they are a success. HSAs are tax-advantaged accounts that allow enrollees to save up to pay qualified medical expenses.

Out of Pocket Cost 74

Out of Pocket Cost Deductions Deductible Voluntary Benefits 74

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.

401(k) 52

401(k) Retirement Plan Benefits Package Deductions 52

WEX Inc.

AUGUST 15, 2023

If you rarely require medical care and prefer to save on monthly premiums, a plan with a higher deductible and lower premiums might be suitable. On the other hand, if you anticipate regular medical visits, chronic conditions, or potential emergencies, a plan with lower deductibles and higher premiums may offer better cost protections.

Deductions 98

Deductions Deductible Healthcare Flexible Spending Account 98

PeopleKeep

FEBRUARY 9, 2022

A health savings account (HSA) is an employee-owned account designed to set aside pre-tax money to pay for qualified medical expenses such as deductibles, copayments, coinsurance, and other out-of-pocket expenses included in IRS publication 502.

Health Savings Account 98

Health Savings Account Deductions Deductible Healthcare 98

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. 7,750 for family coverage (up $450).

401(k) 98

401(k) Deductions Deductible Flexible Spending Account 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.

Flexible Spending Account 98

Flexible Spending Account Deductions Deductible Health 98

Griffin Benefits

JUNE 7, 2023

On May 16, 2023, the IRS released Revenue Procedure 2023-23 to provide the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2024. The IRS is required to publish these limits by June 1 of each year.

Health Savings Account 77

Health Savings Account Deductions Deductible Taxes 77

PeopleKeep

MAY 19, 2021

A health savings account (HSA) is a tax-advantaged savings account a family or individual can use to pay for qualified medical expenses. HSAs are paired with a high-deductible health plan (HDHP) and have annual contribution limits.

Health Savings Account 98

Health Savings Account Deductions Deductible Medical 98

InterWest Insurance Services

JANUARY 27, 2023

Even if you are providing them with a robust plan, there are often out-of-pocket cost-sharing and deductibles to contend with. For employees in high-deductible health plans, the costs can be steep. Urge any employees in HDHPs to sock away funds in their attached health savings accounts for future medical expenses.

Out of Pocket Cost 97

Out of Pocket Cost 401(k) Deductions Deductible 97

Benefit Resource Inc.

FEBRUARY 21, 2024

The Health, Wealth, Wellness Triangle has emerged as a framework that acknowledges the interconnectedness of personal health, financial stability, and overall wellness. The Health Component A cornerstone of the Health, Wealth, Wellness Triangle is, unsurprisingly, health itself.

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductions Deductible 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. In the last year alone, we’ve learned a lot about pre-tax benefits and how to maximize their potential.

Taxes 75

Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

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. Will anyone in your family have anticipated healthcare costs in the upcoming year?

401(k) 98

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

Benefit Resource Inc.

JANUARY 16, 2024

Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are two of the most effective instruments for optimizing health savings and financial flexibility for both employers and employees among the different components of a comprehensive benefits strategy.

Benefits Package 52

Benefits Package Flexible Spending Account Health Savings Account Flexible Spending 52

Higginbotham

NOVEMBER 28, 2022

Some are turning to Health Savings Accounts (HSAs). Although HSAs won’t work for everyone, the benefits of an HSA account make this an appealing option for some individuals. What is a Health Savings Account (HSA)? An HSA is a special type of savings account.

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductions Deductible 52

WEX Inc.

APRIL 24, 2023

Your health plan drives many of your decisions during open enrollment. One emerging trend is employers offering their employees health plan options. You and your family’s expenses During open enrollment, you may see tables or charts that show your available plans’ premiums, deductibles, and/or out-of-pocket responsibility.

401(k) 52

401(k) Health Savings Account Deductions Deductible 52

WEX Inc.

SEPTEMBER 12, 2023

Understanding HSAs The number of health savings accounts (HSAs) has doubled nationwide in the last seven years , as more Americans turn to these accounts as a way to save on healthcare costs and prepare for retirement. HSA-eligible health plans typically have lower premiums but higher deductibles.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Life Insurance 52

InterWest Insurance Services

JUNE 8, 2023

The IRS has raised the maximum amount people can funnel into their health savings accounts by 7.8% The IRS updates this amount annually, along with minimum deductibles as well as the out-of-pocket maximums for high-deductible health plans. You are not taxed on withdrawals.

Deductions 52

Deductions Deductible Health Savings Account Medical 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.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Pharmaceutical Health Savings Account 98