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Utilizing Pre-Tax Benefits to Prioritize Health in 2023

Benefit Resource Inc.

With a Flexible Spending Account (FSA), you can set aside up to $3,050 in pre-tax dollars per calendar year to pay for eligible medical expenses like doctor visits, hospitalizations, and prescription medications. HRAs can be designed by an employer to fit a variety of needs and program designs. How Employers Can Help.

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Increase Your Financial Well-Being Through Medical Savings

Benefit Resource Inc.

One such way is by utilizing health savings accounts (HSAs) and flexible spending accounts (FSAs). Health Savings Accounts allow employees (and employers) to contribute to a tax-free account to be used for eligible medical expenses. What is an HSA? What is an FSA?

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Spring Cleaning with Your Eligible Expenses

Benefit Resource Inc.

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.

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It’s Time for a Mid-Year Financial Check-Up

Money Talk

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. This is a great time to increase emergency savings or automatic deposits into an employer retirement savings plan (e.g.,

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Open enrollment checklist for employers

Business Management Daily

Some employers start as early as September. Most employees elect coverage through their employer, but some may be eligible for marketplace coverage as well. Most employers have an open enrollment period of at least 2 to 4 weeks. Eligibility for HSAs is generally limited to people enrolled in High Deductible Health Plan (HDHP).

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New COVID relief package extends payroll provisions

Business Management Daily

Relief for employers that deferred the deposit of employees’ Social Security taxes. Relief for health savings accounts and dependent care assistance plans. Who got paid creditable wages differed, depending on size: Employers with 100 or more employees (i.e., An expanded employee retention credit. Temporary disaster tax relief.

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Hiring Trends To Be Aware Of In 2023

Genesis HR Solutions

In an attempt to counteract the bleeding of workers, employers are getting creative with how they attract applicants and hopeful new hires. Employers are making offers quickly and using salary and compensation benchmarking to create offers that stand out from the competition in an effort to be the first to snag in-demand candidates.