McDermott Will & Emery Employee Benefits

MAY 17, 2023

Recently, the Internal Revenue Service (IRS) announced (See Revenue Procedure 2023-23) cost-of-living adjustments to the applicable dollar limits for health savings accounts (HSAs), high-deductible health plans (HDHPs) and excepted benefit health reimbursement arrangements (HRAs) for 2024.

Health Savings Account 65

Health Savings Account Deductions Deductible Employee Benefits 65

Employee Benefits

FEBRUARY 15, 2024

The Welsh government has partnered with employee benefits provider Vivup for the managed service provision of its employee benefit schemes. The post Exclusive: Welsh government rolls out new employee benefits framework appeared first on Employee Benefits.

Government 59

Government Employee Benefits Life Insurance Pension 59

McDermott Will & Emery Employee Benefits

APRIL 29, 2022

Recently, the Internal Revenue Service (IRS) announced (See Revenue Procedure 2022-24) cost-of-living adjustments to the applicable dollar limits for health savings accounts (HSAs), high-deductible health plans (HDHPs) and excepted benefit health reimbursement arrangements (HRAs) for 2023.

Health Savings Account 88

Health Savings Account Deductions Deductible Employee Benefits 88

Employee Benefits

MAY 29, 2023

Employee benefits are an important aspect of any job, but can be overlooked when thinking about changing roles. Depending on those on offer, benefits can be just as valuable as a pay rise , and in some cases, even more valuable. So what constitutes a good employee benefits package?

Salary 98

Salary Employee Benefits Disability Insurance Pension 98

Employee Benefits

FEBRUARY 28, 2023

In this blog, we take a look at: what is a salary sacrifice scheme, what can salary sacrifice fund, savings to the employee, and the non-financial perks. The post THE SHARED BENEFITS OF A SALARY DEDUCT SCHEME appeared first on Employee Benefits.

Deductions 52

Deductions Deductible Salary Taxes 52

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

PeopleKeep

SEPTEMBER 26, 2022

When considering health insurance policies for your organization, you may have wondered if it’s better to have a low deductible health plan (LDHP) or a high deductible health plan (HDHP). While HDHPs have higher deductibles than LDHPs, as the name implies, there can be benefits to taking on the risk.

Deductions 52

Deductions Deductible Health Savings Account Health Insurance 52

Proskauer's Employee Benefits & Executive Compensa

JUNE 27, 2023

As a reminder, if an HDHP covers medical items and services before the participant satisfies the IRS minimum deductible (self-only or family), that coverage may disqualify the participant’s HSA contributions. Can an HDHP continue to provide pre-deductible coverage of COVID-19 testing and treatment without impacting HSA eligibility?

Deductions 52

Deductions Deductible Health Savings Account Medical 52

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

McDermott Will & Emery Employee Benefits

NOVEMBER 1, 2023

The Social Security Administration […] The post IRS Announces 2024 Employee Benefit Plan Limits appeared first on EMPLOYEE BENEFITS BLOG. Most of the dollar limits that are subject to adjustment for cost-of-living increases will increase for 2024.

Health and Welfare 88

Health and Welfare Employee Benefits Flexible Spending Account Health Savings Account 88

McDermott Will & Emery Employee Benefits

NOVEMBER 10, 2023

On November 9, 2023, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the applicable dollar limits for certain health and welfare plan benefits, including those for health flexible spending arrangements and commuter benefit plans, among other important updates.

Health and Welfare 83

Health and Welfare Employee Benefits Flexible Spending Flexible Spending Account 83

WEX Inc.

SEPTEMBER 12, 2023

If you’ve never been asked if you would like to participate in an employee benefits account before, you might be asking yourself, “What are all these acronyms?” To take advantage of an HSA, you need to participate in an HSA-eligible health plan (or high-deductible health plan).

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Life Insurance 52

CorpStrat

JANUARY 17, 2023

Many employee benefits are subject to annual dollar limits that are adjusted for inflation by the IRS each year. The following commonly offered Employee Benefits are subject to these limits: High deductible health plans (HDHPs) and health savings accounts (HSAs). Transportation fringe benefit plans.

401(k) 52

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

Hppy

MAY 29, 2018

Employers have the responsibility to accurately calculate payroll deductions and pay employee benefits taxes. To ensure your business runs smoothly keeping your employees happy is one of the most important things to keep on top of. Payroll Deductions. Who gets employee benefits?

Deductions 37

Deductions Deductible Taxes Payroll 37

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

CorpStrat

JULY 30, 2021

What if we told you there was a way you can deduct all of the medical expenses that are not covered by your insurance plan. We’re talking about things like deductibles, co-insurance, doctor visits, doctor’s who don’t take insurance, eyeglasses, therapy, etc. Doesn’t that sound interesting? Sole Proprieters.

Deductions 52

Deductions Deductible Medical Insurance 52

Best Money Moves

JULY 8, 2020

Top 10 employee benefits for 2021. HR trends forecast the most desired employee benefits for 2021 like financial wellness programs and flexible work arrangements. It’s time for employers to start planning their employee benefits packages for 2021. Top 10 Employee Benefits for 2021. #1

Employee Benefits 108

Employee Benefits Out of Pocket Cost Flexible Spending Account Health Insurance 108

Empuls

APRIL 22, 2024

  Beyond the paycheck: how employee benefit makes them happier  A competitive salary is essential to attract and retain top talent. But in today's job market, employees are looking for more than just a paycheck. This highlights the importance of a strong benefit package in retaining valuable talent.

Employee Benefits 40

Employee Benefits Family and Medical Leave Act Benefits Package Health Insurance 40

McDermott Will & Emery Employee Benefits

OCTOBER 21, 2022

The table below compares the applicable dollar limits for certain employee benefit programs and the Social Security wage base for 2022 […]. The post IRS Announces 2023 Employee Benefit Plan Limits appeared first on EMPLOYEE BENEFITS BLOG.

Employee Benefits 81

Employee Benefits Flexible Spending Account Employment Health Savings Account 81

Higginbotham

MAY 4, 2023

According to Investopedia, employers often provide life insurance as an employee benefit, but these life insurance policies may not always provide sufficient coverage. The Convenience of Payroll Deductions When supplemental life insurance is available through work, employees often pay for coverage using payroll deductions.

Life Insurance 52

Life Insurance Benefits Package Insurance Employee Benefits 52

Genesis HR Solutions

SEPTEMBER 22, 2020

At the end of this article, we’ll explain how a professional employer organization (PEO) can help you select, negotiate, and administer best possible benefits for your company. 16+ types of employee benefits you should consider. An HSA can be used only if employees have a qualified High Deductible Health Plan (HDHP).

401(k) 98

401(k) Employee Benefits Disability Insurance roth 401(k) 98

WEX Inc.

JANUARY 4, 2023

In this blog post, we outline some of the ways your ability to use your employee benefits changes when you elect COBRA. You are still eligible to participate and contribute to an HSA while on COBRA as long as: You’re enrolled in an HSA-eligible health plan (or high-deductible health plan ). It is not legal or tax advice.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

Employee Benefits

MARCH 14, 2024

We’re passionate about helping employees and businesses adopt healthier and more sustainable practices, and we’re using the Big Walk and Wheel Week to explore how you can make cycling more affordable and inclusive for all employees. As a salary deduction scheme, there are no NIC or tax savings for employers or employees.

Deductions 105

Deductions Deductible Retail Salary 105

Empuls

APRIL 28, 2023

According to a recent study by HBR , 80% of employees say that benefits are a significant factor in deciding whether to accept a job offer, and 60% of employees report that benefits are a major reason for staying with their current employer. What are employee benefits?

Family and Medical Leave Act 40

Family and Medical Leave Act Employee Benefits Parental Leave Benefits Package 40

CorpStrat

AUGUST 11, 2022

It’s true, major medical policies can be adequate for addressing most of your employees’ direct medical expenses. However, out-of-pocket medical expenses like deductibles, co-insurance, office visits, etc. These expenses add up quickly and can become an insurmountable financial burden for employees.

Voluntary Benefits 52

Voluntary Benefits Employee Benefits Benefits Package Medical 52

Higginbotham

DECEMBER 26, 2022

This means the annual or lifetime dollar limits for mental health and substance use disorder benefits cannot be lower than the dollar limits for medical and surgical services. The health plan cannot charge a higher deductible or copay for mental health and substance use disorder benefits, either. Learn more.

Insurance 52

Insurance Employee Benefits Health Insurance Financial Counseling 52

Qandle

DECEMBER 5, 2023

Understanding Payroll Processing: At its core, payroll processing involves calculating employee compensation, including salaries, wages, bonuses, and deductions. This intricate task demands precision to comply with tax regulations and ensure employees receive their rightful earnings. Looking for the Best HR Payroll Process ?

Payroll 98

Payroll Net Pay Gross Pay Payroll System 98

Benefit Resource Inc.

NOVEMBER 22, 2022

But before you sit down to enjoy your well-deserved feast, we wanted to take a moment to remind you of all the things you have to be thankful for at work – namely, your employee benefits! Here are 5 reasons to give thanks for employee benefits this Thanksgiving. Pre-tax benefits save you money.

Employee Benefits 52

Employee Benefits Flexible Spending Account Flexible Spending Health Savings Account 52

Qandle

NOVEMBER 27, 2023

First and foremost, it requires a thorough understanding of applicable laws and regulations related to wages, taxes, and deductions. Employers must accurately calculate and withhold taxes from employee paychecks, including income tax, social security, and Medicare. Effective payroll management involves several key components.

Payroll Manager 98

Payroll Manager Payroll Gross Pay Payroll Software 98

Employee Benefits

OCTOBER 31, 2023

In fact, according to recent research* by The Reward & Employee Benefits Association conducted in association with WEALTH at work, savings via tax-free wrappers such as ISAs are set for significant growth, with almost half of employers offering or planning to offer these over the next two years (45% compared to 32% in 2022).

Deductions 98

Deductions Deductible Banking Taxes 98

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. private-sector workers in 2021.

Deductions 97

Deductions Deductible Health Savings Account Employee Enrollments 97

Employee Benefit News

MARCH 25, 2024

The IRS standard rate influences tax deductions, business operations, compliance requirements, financial planning and employee compensation strategies.

Taxes 114

Taxes Deductions Deductible Employee Compensation 114

Proskauer's Employee Benefits & Executive Compensa

APRIL 3, 2023

They also focus on certain aspects of this insurance product as it relates to executive compensation and employee benefits matters. Listen to the podcast David Teigman: Hello and welcome to The Proskauer Benefits Brief: Legal Insight on Employee Benefits and Executive Compensation. Welcome to you both.

Executive Compensation 52

Executive Compensation Insurance Employee Benefits 401(k) 52

Employee Benefits

FEBRUARY 29, 2024

The average rate of absenteeism per employee per year has increased from 5.8 Your resilience-boosting financial wellbeing strategy Employee benefits, such as discounts and cashback schemes , provide significant support for employees, especially during the current cost-of-living crisis. in 2019 to 7.8 Request a call today.

IT 111

IT Salary Deductions Deductible 111

Fringe Benefit Analysts

MAY 8, 2022

As many employers and businesses are aware, employee benefits packages are very important considerations for candidates when they are being scouted by recruiters. They will also navigate employers and employees through the layered and complicated task of implementing such plans to reduce complications or errors.

Consulting 52

Consulting Employee Benefits Benefits Package Health Insurance 52

McDermott Will & Emery Employee Benefits

JULY 5, 2023

For many employers, the primary concern is how to integrate the new rule with how payroll deductions for catch-up contributions are […] The post Just Catching Up? Payroll Challenges Plague Roth Catch-Up Contribution Implementation appeared first on EMPLOYEE BENEFITS BLOG.

Payroll 83

Payroll Deductions Deductible Employee Benefits 83

InterWest Insurance Services

MARCH 3, 2023

A new study has found that individuals enrolled in high-deductible health plans (HDHPs) are more engaged than their traditional plan counterparts during open enrollment, spending more time on choosing plans and using employer-provided tools to help them make their choices. workers were enrolled in them.

Deductions 98

Deductions Deductible Insurance Carriers Education 98