Money Talk

JANUARY 4, 2024

Tax Refund Adjustments - Sometimes people miss a tax credit, deduction, or adjustment and need to file an amended tax return. Unclaimed Money - This is money held by state governments from a variety of sources including bank accounts, utility deposits, pension benefits, and insurance policies.

Life Insurance 171

Life Insurance Pension Benefit Retail Taxes 171

Qandle

DECEMBER 5, 2023

Understanding Payroll Processing: At its core, payroll processing involves calculating employee compensation, including salaries, wages, bonuses, and deductions. Deductions for income tax, social security, and other statutory requirements must be precisely calculated and remitted. Looking for the Best HR Payroll Process ?

Payroll 98

Payroll Net Pay Gross Pay Payroll System 98

Money Talk

OCTOBER 25, 2023

Utilities Adjust thermostat (a little warmer in summer and cooler in winter), turn down water heater to 120 degrees, unplug items not in use using a power strip, take advantage of off-peak rates, change HVAC system air filters regularly, use LED light bulbs, and use low-flow showerheads. Insurance Play “what if?” (e.g.,

Food 195

Food Deductions Deductible Retail 195

Money Talk

JUNE 28, 2023

Use this information to adjust payroll deductions for a health care FSA (up or down). Budget Refresh- During the first six months of 2023, inflation increased many household expenses including auto and homeowner’s insurance premiums, utilities, rent, child care, and food eaten at and away from home.

Flexible Spending Account 239

Flexible Spending Account Banking Health Savings Account Finance 239

Benefit Resource Inc.

APRIL 23, 2019

Unfortunately, too often, neither of these things happen and employers see over-utilization and misuse of HRA funds by employees. However, this perception also leads employees to over-utilize their benefits as they try to avoid leaving anything unused. Option 1: Add a deductible to the HRA. Option 2: Offer to split the check.

Utilities 74

Utilities Deductions Deductible Benefits Package 74

Qandle

DECEMBER 16, 2023

It involves various tasks, including calculating wages, withholding taxes and other deductions, and ensuring that employees receive their net pay. Definition of Payroll: Payroll encompasses the total amount of wages paid by a company to its employees and includes salaries, bonuses, and deductions. Here are some key benefits: 1.

Payroll 105

Payroll Payroll Software Payroll System Gross Pay 105

Qandle

DECEMBER 5, 2023

Understanding Payroll Processing: At its core, payroll processing involves calculating employee compensation, including salaries, wages, bonuses, and deductions. Deductions for income tax, social security, and other statutory requirements must be precisely calculated and remitted. Looking for the Best HR Payroll Software ?

Payroll 52

Payroll Net Pay Payroll Software Gross Pay 52

HR Lineup

APRIL 4, 2024

Process Efficiency: Manual Payroll: Involves manual entry of employee work hours, wage rates, deductions, and tax withholdings. Automated Payroll: Utilizes software solutions to streamline the payroll process. Calculations, including taxes and deductions, are automated, reducing the potential for errors.

Payroll 50

Payroll Payroll System Deductions Deductible 50

Money Talk

AUGUST 10, 2022

67 for workers born in 1960 or later), Social Security deducts $1 from benefits for every $2 earned above the annual limit ($19,560 in 2022). food, gas, utilities, housing, etc.) Below are six factors to consider: Social Security Earnings Limit - Before full retirement age or FRA (e.g.,

Disability Insurance 246

Disability Insurance Taxes Health Insurance Pension 246

Empuls

JUNE 18, 2023

The card is swiped or scanned, and the corresponding amount is deducted from the card balance. Employees can maximize their tax benefits and potentially increase their take-home pay by utilizing meal cards. 💡 Try Xoxoday Empuls : Hassle-free utilization of tax-free allowances. Here are some of them: 1.

Utilities 52

Utilities Food Taxes Take Home Pay 52

InterWest Insurance Services

JULY 13, 2023

39% offer a medical plan with no or a low deductible or cost-sharing (e.g., 6% make larger health savings account contributions to lower-wage staff to make their high-deductible health plan more affordable. Strategies focused on utilization of high-quality primary care (e.g., copay plan). advanced primary care).

Employment 98

Employment Out of Pocket Cost Health Insurance Health Savings Account 98

Higginbotham

DECEMBER 8, 2023

Employees can also save a significant amount of money by avoiding taxes on qualified benefit payroll deductions. Therefore, employees could save anywhere from 12 percent to 37 percent of the qualified benefit payroll deduction amount just by avoiding federal income tax. Larger payroll deductions can result in even bigger tax savings.

Deductions 52

Deductions Deductible Taxes Payroll 52

HR Lineup

JULY 19, 2023

One of the key highlights of Plus Minus Payroll is its intuitive and user-friendly interface, which makes it easy for both payroll professionals and non-experts to navigate and utilize the software effectively. The software enables users to manage employee profiles, including personal information, tax details, deductions, and benefits.

Payroll 52

Payroll Payroll Manager Deductions Deductible 52

Benefit Resource Inc.

APRIL 18, 2023

One such way is by utilizing health savings accounts (HSAs) and flexible spending accounts (FSAs). The HSA is combined with an HSA-qualified health plan (also referred to as a high deductible health plan). The health plan is designed to provide comprehensive coverage once the deductible and out-of-pocket maximum is met.

Medical 52

Medical Flexible Spending Account Health Savings Account Flexible Spending 52

PeopleStrategy

JANUARY 9, 2024

Utilizing surveys to gather information and show commonalities can help make identifying program objectives easier. From there, it’s time to design the program—and utilizing technology here is important. For you as an employer, companies can deduct training and education costs as a business expense. Which is the second step.

Deductions 52

Deductions Deductible Utilities Technology 52

InterWest Insurance Services

AUGUST 31, 2023

The cost and utilization of these drugs is growing, according to Aon. Aon estimates that the average employee premium contribution in 2023 is $2,682, while they pay out another $1,993 in deductibles, copays and coinsurance. However, some pharmaceuticals cost much more. Others cost upwards of $100,000 per year.

Pharmaceutical 98

Pharmaceutical Hospitality Health Insurance Medical 98

Benefit Resource Inc.

APRIL 20, 2023

While dusting, vacuuming, and packing away winter clothes may be on the top of your spring cleaning list, have you considered reviewing your eligible expenses and utilizing your Flexible Spending Account (FSA)? Utilize resources like BRIWEB , BRIMOBILE , and Participant Services to help you navigate your benefits.

Out of Pocket Cost 83

Out of Pocket Cost Flexible Spending Account Flexible Spending Health Savings Account 83

PeopleStrategy

OCTOBER 17, 2023

The employer pays the fee regardless of claims activity and usually collects some of the cost through pre-tax payroll deductions. This includes options for different deductibles, coinsurance levels, prescription drug coverage, and wellness programs. The monthly fee is fixed for a 12-month period.

Insurance Carriers 52

Insurance Carriers Healthcare Health Insurance Deductions 52

AssuredPartners

SEPTEMBER 13, 2022

Unintended assumption of accrued liabilities: Many large companies with a high frequency of low severity claims purchase insurance policies utilizing a large deductible or, “loss sensitive” structure.

Insurance 52

Insurance Deductions Deductible Utilities 52

Qandle

DECEMBER 11, 2023

Payroll Management Automation of payroll calculations, tax deductions, and other financial aspects of employee compensation. Payroll Software Specialized in automating payroll processes, calculating wages, tax deductions, and ensuring compliance with payroll regulations.

Human Resources 105

Human Resources Payroll Software Retirement Plan 105

Money Talk

JUNE 29, 2022

In it, I urged a review of tax deductions/credits, tax withholding, budgeting/cash flow, flexible spending accounts, financial goal progress, and investment portfolio status. Automated Payments Review - Payments for utilities (e.g., Last year, I wrote a blog post about mid-year financial check-up s for the OneOp Personal Finance team.

401(k) 245

401(k) Out of Pocket Cost Finance Flexible Spending Account 245

HR Professionals Magazine

MAY 4, 2023

PlanSource’s Decision IQ is an example that incorporates all of the above – boasting a 100% utilization rate. Artificial Intelligence (AI) and Machine Learning (ML) can be utilized to identify and approve valid documents. Virtual Assistants Employees often struggle finding pertinent benefits information at the time of service (i.e.,

Technology 52

Technology Utilities Payroll Deductions 52

HR Professionals Magazine

MARCH 28, 2023

The right broker will also help you consider whether to pay for robust pharmacy benefits and multi-tier copays when your employees may not utilize expensive drugs. Additionally, many employers and employees would not “buy down” their deductible if they knew the true cost of that deal. How are your broker’s math skills?

Deductions 40

Deductions Deductible 401(k) Benefits Package 40

Assurance Agency

MARCH 6, 2023

Business Insurance is continually one of the largest cost drivers for companies, but too often companies are not fully utilizing data and analytics to ensure they have the most cost-effective programs in place. Engaging a dedicated analytics team can help dig into different metrics to be sure the most cost-effective program is put in place.

Retail 52

Retail Management Utilities Deductions 52

Higginbotham

JANUARY 4, 2022

Through payroll deduction, employees pay the premium balance left over after the employer contribution. Deductibles, co-pays and coinsurance usually apply, and policies will differ as far as what procedures are considered preventative, basic, major and necessary. Dental insurance is a common type of ancillary benefit. Vision Insurance.

Health Insurance 52

Health Insurance Insurance Disability Insurance Life Insurance 52

HR Lineup

JUNE 29, 2023

It also handles tax deductions, benefits contributions, and compliance with labor laws, ensuring accurate and timely payments while reducing the risk of errors. The platform utilizes encryption and other industry-standard security measures to safeguard sensitive data from unauthorized access or breaches.

Payroll 52

Payroll Retirement Plan Commissions Benefits Package 52

Qandle

APRIL 7, 2022

Payroll administration is the difficult task of keeping track of your employees’ financial data, such as pay, benefits, taxes, and deductions. Payroll software calculates pay and deductions precisely, and you only have to enter employee information once. The phase of payroll processing.

Payroll Service 98

Payroll Service Payroll Payroll Software Management 98

Employee Benefits

NOVEMBER 14, 2023

Set a budget – Create a detailed budget that includes all expenses, such as gifts, decorations, food, entertainment, nights out, travel, increased utility bills, and clothes, and stick to it. Some workplaces offer payroll-deducted savings schemes for effortless saving.

Management 98

Management Entertainment Finance Deductions 98

AssuredPartners

NOVEMBER 22, 2022

Does it make sense to utilize an existing plan or is there a need to create an entirely new offering? When are the contract effective dates for each population – will integration reset employee deductibles? Integration timeline. Who is responsible for drafting an integration timeline and executing accordingly?

Health and Welfare 59

Health and Welfare Employment Deductions Deductible 59

HR Digest

SEPTEMBER 16, 2023

The rising costs have been a result of increased use for the treatment of diabetes, but also a trend of utilizing the drug for weight loss. Virta concluded that 72 percent of health plan leaders now expected GLP-1 (Glucagon-like peptide-1) use to increase by 25 percent or more in 2023.

Health and Welfare 85

Health and Welfare Employment Healthcare Pharmaceutical 85

CorpStrat

NOVEMBER 4, 2022

During this time, it is crucial to verify that employee deductions have been updated to payroll once open enrollment closes. If you are utilizing our benefits solution, we have several reports available to assist you in comparing your data. Please contact payroll@corpstrat.com if you find any discrepancies.

Payroll 52

Payroll Bonuses Deductions Deductible 52

AssuredPartners

SEPTEMBER 11, 2023

Set to begin on January 1, 2024, employers covered under the new law certain employers located within designated Illinois counties and townships, as discussed further below will be required to provide a pre-tax commuter benefit allowing covered employees to utilize pre-tax dollars to purchase a transit pass via a payroll deduction.

Taxes 52

Taxes Transportation Deductions Deductible 52

HR Lineup

SEPTEMBER 4, 2023

Sprout’s leave management system helps ensure accurate tracking of accrued and utilized leave days. Reports and Analytics: Users can generate comprehensive payroll reports, helping HR and finance teams gain insights into labor costs, deductions, and tax liabilities.

Payroll Software 52

Payroll Software Payroll Payroll Manager Human Resources 52

Employee Benefits

MAY 31, 2023

According to Health Shield, cash plans are a high utility product, with the average member claiming eight times per year, often for amounts at the lower end, around £50, for check-ups. Paying for group plans can, therefore, have a significant effect on productivity, wellbeing, and sick leave for an employer. What are the cost implications?

Insurance 105

Insurance Taxes Deductions Deductible 105

Insperity

MARCH 15, 2022

Powered by tax-deductible donations from companies and their employees, employee benevolence programs are charitable vehicles through which employees are able to apply for emergency support as well as actively contribute to the needs of their co-workers. mortgage payments, rent, utilities)? What will the fund cover (e.g.,

Deductions 97

Deductions Deductible Taxes Finance 97

Empuls

SEPTEMBER 28, 2023

Utility bills : Energy costs, including electricity and gas bills, were a concern. Utility bill relief Provide a one-time bonus to employees or citizens to help cover their utility bills, such as electricity, water, gas, or internet. Utilities : The cost of electricity, water, gas, and other essential utilities.

Bonuses 40

Bonuses Employment Transportation Taxes 40

Money Talk

JUNE 24, 2021

Another great way to build savings momentum is to automate savings through an employer retirement savings plan or automatic payroll deductions for a credit union savings account. Examples include rent, utilities, mortgage payments, and student loan payments.

401(k) 100

401(k) Finance Entertainment Pension 100