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. When do I need access to my funds?

401(k) 98

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

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. Source: EBRI.

Taxes 75

Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

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 80

Employee Benefits Flexible Spending Account Employment Health Savings Account 80

WEX Inc.

AUGUST 15, 2023

Whether you're transitioning from your parents' insurance, landed your first full-time job, or are simply obtaining coverage for the first time, choosing health plans and employee benefits options can be overwhelming. Learn more about HSA-eligible health plans (or high-deductible health plans ) in our graphic below.

Deductions 98

Deductions Deductible Healthcare Flexible Spending Account 98

InterWest Insurance Services

MARCH 22, 2022

One way you can give your staff more choice in the employee benefits they receive is to offer them a cafeteria plan, which allows them to put together a benefits package that works best for them. Employers fund these flexible benefit plans with funds that are deducted from their employees’ salaries on a pre-tax basis.

Flexible Spending Account 83

Flexible Spending Account 401(k) Flexible Spending Deductions 83

Qandle

JUNE 20, 2023

Benefits and Deductions: Collect information related to employee benefits and deductions, such as health insurance, retirement contributions, flexible spending accounts, loan repayments, or garnishments. Ensure accuracy and verify any changes or updates.

Payroll 98

Payroll Flexible Spending Account Overtime Payroll Software 98

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

InterWest Insurance Services

NOVEMBER 25, 2022

The IRS has released the 2023 maximum contribution amounts for health savings accounts and flexible spending accounts. You’ll want to make note of the changes when discussing your employee benefits during annual open enrollment. In order to have an HSA, an employee must be enrolled in an HDHP. The takeaway.

401(k) 91

401(k) Deductions Deductible Flexible Spending Account 91

Higginbotham

JANUARY 12, 2024

Health accounts can provide advantages to both the employer and the employee, including the following: Flexibility: It’s hard to find employee benefits that fit everyone’s needs. Cons to an HSA Individuals who are not enrolled in high-deductible health plans cannot open or contribute to HSAs.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Deductions Deductible 52

Proskauer's Employee Benefits & Executive Compensa

OCTOBER 21, 2022

On October 18th, the IRS announced a slew of inflation adjustments for 2023, including to the annual contribution and carryover limits for healthcare flexible spending accounts and the monthly limit for qualified transportation fringe benefits. The new limits are set forth below. The new limits are set forth below.

Transportation 52

Transportation Flexible Spending Account Flexible Spending Health Savings Account 52

McDermott Will & Emery Employee Benefits

OCTOBER 19, 2022

The maximum salary reduction limit for a health flexible spending account (Health FSA) increased to $3,050 for 2023 (from $2,850 in 2022), and the Health FSA carryover […]. The post IRS Announces Cost-of-Living Adjustments for Health and Welfare Plans appeared first on EMPLOYEE BENEFITS BLOG.

Health and Welfare 79

Health and Welfare Flexible Spending Account Flexible Spending Salary 79

WEX Inc.

APRIL 24, 2023

One emerging trend is employers offering their employees health plan options. Nearly two-thirds of large employers provide their employees with the choice of a high-deductible health plan (HDHP) and a traditional health plan, such as a preferred provider organization (PPO), during open enrollment.

401(k) 52

401(k) Health Savings Account Deductions Deductible 52

CorpStrat

FEBRUARY 22, 2023

People are already struggling to pay for the insurance premiums but on top of that, they’re afraid deductibles, prescriptions, and co-insurance might push them into the red. In 2023, having some money set aside to cover these out-of-pocket costs is critical for most employees. It’s no wonder that they’re struggling.

Flexible Spending Account 52

Flexible Spending Account Out of Pocket Cost Flexible Spending Deductions 52

InterWest Insurance Services

JULY 20, 2022

It always takes more time than usual to onboard new employees — particularly ones who are new to the workforce altogether — to your employee benefits plans. Deductibles — Explain how deductibles work and that depending on their plan they may pay the full price for health care services until they’ve met their deductible.

Education 95

Education 401(k) Deductions Deductible 95

HR Professionals Magazine

AUGUST 1, 2023

With over 4,000 respondents, the Society for Human Resource Management’s 2023 Employee Benefits Survey found that the number of employers offering family support and leave benefits has significantly increased since 2022. Among health care coverage options, preferred provider organizations remained the most common (82%).

Parental Leave 52

Parental Leave Flexible Spending Account Health Savings Account Flexible Spending 52

WEX Inc.

SEPTEMBER 14, 2023

Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans. Treat your approach to benefits plans the same when making open enrollment decisions. When approaching open enrollment, do … Evaluate available health insurance plans.

401(k) 98

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

AssuredPartners

MAY 12, 2020

The notice increases the limit for unused healthcare FSA carryover amounts from $500, to a maximum of $550, as adjusted annually for inflation.n"},{"attributes":{"bold":true},"insert":"Note:"},{"insert":" The Healthcare FSA per employee maximum for 2020 is $2,750.

Employee Benefits 40

Employee Benefits Flexible Spending Deductions Deductible 40

Higginbotham

OCTOBER 13, 2023

Your workforce likely includes Boomers, Gen Xers, Millennials and Gen Zers, parents, pet parents and those without children – and they all want different things from their employee benefits. What are Lifestyle Spending Accounts? Although Lifestyle Spending Accounts are not common in the U.S. However, there’s a catch.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Flexible Spending Taxes 52

Griffin Benefits

NOVEMBER 28, 2023

TIMING AND EMPLOYEE BENEFITS A PEO exit that can be arranged effective December 31 may occur in the middle of the PEO employee benefits plan year. Mid-year terminations may increase employee expenses for those who have reached their deductible or out-of-pocket maximums.

Flexible Spending Account 64

Flexible Spending Account Workers’ Compensation Taxes Flexible Spending 64

InterWest Insurance Services

SEPTEMBER 27, 2023

With answers and feedback in hand you can create a benefits package that is more appealing to them, which in turn gives you a competitive edge when attracting and retaining workers. Engage employees and solicit feedback through quarterly employee-benefits round table meetings.

Out of Pocket Cost 75

Out of Pocket Cost Flexible Spending Account Health Savings Account Health Insurance 75

Benefit Resource Inc.

DECEMBER 30, 2022

Choosing between a Health Savings Account (HSA) and a Flexible Spending Account (FSA) can be overwhelming. Both accounts have their own unique features and benefits, but understanding when each is most appropriate can help simplify the choice. The Importance of Customized Benefits. Choosing between an FSA and an HSA.

Taxes 75

Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

Higginbotham

NOVEMBER 28, 2022

Unlike Flexible Spending Accounts (FSAs), which are owned by employers, individuals own HSAs. To contribute to an HSA, you must enroll in a high-deductible health plan. In 2022, Healthcare.gov says a high-deductible plan has a deductible of at least $1,400 for individual coverage and $2,800 for family coverage.

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductions Deductible 52

Griffin Benefits

NOVEMBER 1, 2022

The IRS has finally announced adjustments to 2023 contribution limits on various tax-advantaged health and dependent care spending accounts, retirement plans, and other employee benefits such as adoption assistance and transportation benefits. HSA & HDHP Limits Increase for 2023.

401(k) 82

401(k) Retirement Plan Health Savings Account Deductions 82

Higginbotham

JUNE 14, 2022

Flexible Spending Accounts (FSAs) have emerged as one solution. FSA programs can be a good fit for many employee health benefit programs, but before being able to decide, you may have some questions – for example, how do FSAs work? Flexible Spending Account vs. Health Savings Account. Portability.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Deductions Deductible 52

Business Management Daily

DECEMBER 1, 2019

Hourly-paid nonexempts are impacted only to the extent of withholding and deductions. No federal or state agency requires you to adjust employees’ pay for the extra pay period. If you choose not to adjust, employees could be underwithheld. Employees’ benefits deductions and allowances (e.g., Do nothing.

Payroll 83

Payroll 401(k) Deductions Deductible 83

HR Lineup

JULY 10, 2023

The platform automates the entire payroll process, from calculating earnings and deductions to generating pay stubs and tax forms. Additionally, Proliant’s HCM platform includes comprehensive benefits administration capabilities. One of the key strengths of Proliant is its robust payroll processing capabilities.

Flexible Spending Account 52

Flexible Spending Account Payroll Retirement Plan Flexible Spending 52

Higginbotham

FEBRUARY 21, 2023

Coinsurance Meaning in Health Insurance Plans HealthCare.gov says coinsurance is a percentage of covered health care expenses that the policyholder must pay after meeting the deductible. Coinsurance vs. Deductibles One of the most common types of cost sharing is the deductible. What about the out-of-pocket maximum?

Health Insurance 52

Health Insurance Out of Pocket Cost Insurance Deductions 52

Benefit Resource Inc.

OCTOBER 21, 2019

” In the case of pre-tax benefits, we like to say “There’s a plan for that” Regardless of your benefits problem, by comparing Flexible Spending Accounts, Health Savings Accounts and Health Reimbursement Accounts, you can find the right plan to fit your needs. Problem: High turnover.

Flexible Spending Account 40

Flexible Spending Account Health Savings Account Flexible Spending 401(k) 40

WEX Inc.

APRIL 12, 2023

First, employees need to be covered by an HSA-eligible health plan, otherwise known as a high-deductible health plan (HDHP). 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).

Health Savings Account 52

Health Savings Account Deductions Deductible Flexible Spending Account 52

Higginbotham

JULY 12, 2022

Employees may face uncovered costs in numerous ways: They have to pay a share of the premium for insurance. They have to pay a deductible. If an employee or a member of the employee’s family experiences a medical emergency, the costs can add up quickly. Learn more about our employee benefits services.

Out of Pocket Cost 52

Out of Pocket Cost Flexible Spending Account Medical Deductions 52

Benefit Resource Inc.

NOVEMBER 19, 2019

According to Wikipedia: “A cafeteria plan is an employee benefit plan offered in the United States pursuant to Section 125 of the Internal Revenue Code”. One of the most common cafeteria plans is a flex account, or flexible spending account (FSA). Don’t get too caught up on the use of the term “flexible spending account.”

Flexible Spending Account 40

Flexible Spending Account Flexible Spending Taxes Take Home Pay 40

Benefit Resource Inc.

MAY 2, 2023

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. This can include increasing the number of pre-tax deductions available to employees.

Employment 52

Employment Flexible Spending Account Benefits Package Healthcare 52

Benefit Resource Inc.

NOVEMBER 19, 2019

According to Wikipedia: “A cafeteria plan is an employee benefit plan offered in the United States pursuant to Section 125 of the Internal Revenue Code” Are you asleep yet? One of the most common cafeteria plans is a flex account, or flexible spending account (FSA). Who uses the word pursuant in a definition?

Flexible Spending Account 40

Flexible Spending Account Flexible Spending Taxes Take Home Pay 40

Griffin Benefits

NOVEMBER 11, 2021

The IRS has finally announced adjustments to 2022 contribution limits on various tax-advantaged health and dependent care spending accounts, retirement plans, and other employee benefits such as adoption assistance and transportation benefits. HSA & HDHP Limits Increase for 2022.

401(k) 55

401(k) Retirement Plan Health Savings Account Deductions 55

Business Management Daily

SEPTEMBER 22, 2021

Employees get to select a new plan for their health insurance and opt into other employee benefits for the next year. HSA benefit plans: A health savings account lets employees set aside money on a pre-tax basis to pay for qualified medical expenses. Open enrollment season is right around the corner!

Employment 90

Employment Deductions Deductible Benefit Providers 90

Higginbotham

JANUARY 27, 2023

Employees don’t work for free. They want to be fairly compensated for their work, and that usually involves both wages and employee benefits. Although some small business owners may feel overwhelmed by the prospect of offering health insurance and other benefits, the many advantages can make the effort worthwhile.

Health Insurance 52

Health Insurance Insurance Benefits Package Out of Pocket Cost 52