InterWest Insurance Services

AUGUST 10, 2022

Employers who offer health savings account-eligible high-deductible health plans (HDHPs) to employees can significantly expand pre-deductible coverage for certain drugs used to manage chronic conditions — with only a tiny effect on premiums. Absenteeism. Illness-related presenteeism. Overtime costs.

Deductions 98

Deductions Deductible Family and Medical Leave Act Health Savings Account 98

WEX Inc.

MAY 22, 2019

When it comes to managing employee benefits, employers are frequently turning to high-deductible health plans to help control costs. But managing – and keeping up with – HSA requirements has its difficulties. But managing – and keeping up with – HSA requirements has its difficulties.

Health Savings Account 61

Health Savings Account Deductions Deductible Healthcare 61

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

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

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

MAY 18, 2022

Since there is no longer a non-itemizer’s charitable deduction in 2022 and only about 10% of tax filers itemize, you’ll probably have fewer receipts to save. Ramp Up Retirement Savings - Consider increasing retirement savings in a tax-deferred employer retirement savings plan (e.g.,

Taxes 262

Taxes 401(k) Deductions Deductible 262

Stratus.HR

JUNE 11, 2021

High Deductible Health Plans (HDHP) and Health Savings Accounts (HSA) are growing more and more popular each year. Well, there’s a flipside of HDHPs and HSAs that includes a higher deductible and added out-of-pocket costs. HSA as a Retirement Account. HSA-Eligible Expenses. Do Your Homework.

Deductions 76

Deductions Deductible Out of Pocket Cost Health Savings Account 76

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

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.

MARCH 7, 2023

We wanted to share a few tips and reminders about the health savings account (HSA) information you’ll need for your tax return. Make sure your W-2 form shows HSA payroll contributions Provided by your employer, your W-2 shows the wages you earned and any taxes withheld. You'll need this form when filing your taxes.

Taxes 98

Taxes Health Savings Account Deductions Deductible 98

InterWest Insurance Services

JULY 13, 2023

Employers who were surveyed for a new report expected that group health insurance premiums would increase 5.4% In fact, 64% of large employers (with 500 or more workers) plan to enhance their health insurance and well-being benefits to stay competitive for talent and to keep their staff happy, Mercer found. copay plan).

Employment 98

Employment Out of Pocket Cost Health Insurance Health Savings Account 98

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.

Health Savings Account 98

Health Savings Account Deductions Deductible Taxes 98

InterWest Insurance Services

MARCH 16, 2023

Large employers are unwavering in their plans to continue offering group health plans to their workers instead of funding individual reimbursement accounts that would allow them to shop for plans on government-run exchanges, according to new research.

Health Insurance 98

Health Insurance Employment Out of Pocket Cost Health Savings Account 98

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 58

Deductions Deductible Health Savings Account Health Insurance 58

Global People Strategist

JULY 13, 2022

As the cost of healthcare continues to rise, private employers are searching for new and innovative ways to provide health insurance for their employees. While many employers are still offering traditional health insurance plans, there is a growing trend towards alternatives such as self-funded health plans and wellness programs.

Health Insurance 52

Health Insurance Insurance Health Savings Account Deductions 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 40

Deductions Deductible Family and Medical Leave Act Health and Welfare 40

Benefit Resource Inc.

FEBRUARY 7, 2024

A key player in the balance between health and wealth is the health savings account (HSA). Beyond being a traditional healthcare benefit, HSAs provide a win-win situation for both employers and employees. Employers can complement this by providing educational resources and wellness programs.

Health Savings Account 52

Health Savings Account Healthcare Deductions Deductible 52

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

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

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. If your employer offered you a raise, you wouldn’t say no, right?

401(k) 98

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

AssuredPartners

MAY 1, 2022

Each year around this time the IRS announces the inflation-adjusted limits for Health Savings Accounts (HSAs) and High Deductible Health Plans (HDHPs), as they are required to do so annually prior to June 1st. Health Savings Accounts and High-Deductible Health Plans. Family: +450.

Health Savings Account 98

Health Savings Account Deductions Deductible Employment 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 96

Health Savings Account Deductions Deductible Healthcare 96

PeopleKeep

OCTOBER 4, 2021

As more employers move away from group health insurance plans, more married couples have begun maintaining separate individual health insurance coverage. If you and your spouse each have HSA-eligible insurance coverage, and you both plan on contributing to your HSAs, you must have separate accounts.

Health Savings Account 98

Health Savings Account Health Insurance Deductions Deductible 98

Benefit Resource Inc.

JANUARY 16, 2024

Organizations are continuously looking for strategies to draw in and keep top talent in the highly competitive employment market of today. Integrating HSAs and FSAs: Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are two valuable tools that contribute significantly to an employee’s health and financial well-being.

Benefits Package 52

Benefits Package Flexible Spending Account Health Savings Account Flexible Spending 52

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

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 24, 2021

With new tax-free vehicles emerging, including account-based health plans (ABHPs), small employers now have multiple ways to increase employees’ benefits. In this article, we’ll go over the differences between an HSA and a QSEHRA, how they can work together, and why small employers should consider offering both at the same time.

Health Savings Account 98

Health Savings Account Benefits Package Deductions Deductible 98

Benefit Resource Inc.

FEBRUARY 21, 2024

In today’s dynamic workplace landscape, employers are realizing that fostering employee well-being extends far beyond traditional compensation packages. The Health, Wealth, Wellness Triangle has emerged as a framework that acknowledges the interconnectedness of personal health, financial stability, and overall wellness.

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductions Deductible 52

InterWest Insurance Services

DECEMBER 7, 2023

Also, employees will be able to carry over up to $640 next year into 2025 if they have funds left over in their account, if their employer allows it (it’s optional). Anything above the limit at the end of the year is forfeited back to the employer. Employees are not taxed on withdrawals from their account.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Pharmaceutical Health Savings Account 98

InterWest Insurance Services

APRIL 27, 2023

A new report has found that small businesses that purchase their group health insurance online or through payroll vendors saw the largest premium hikes in 2022, significantly higher than those that went through brokers. Overall, more than half of SMB employees opt out of their employer-sponsored coverage.

Health Insurance 98

Health Insurance Insurance Out of Pocket Cost Deductions 98

Business Management Daily

JUNE 29, 2022

This is a post about the options employers have in the wake of the Supreme Court’s June 24 Dobbs v. Jackson Women’s Health Organization decision, which reversed Roe v. Group health plans are the natural place to start when thinking about reimbursing expenses related to female employees’ family planning decisions.

Family and Medical Leave Act 92

Family and Medical Leave Act Healthcare Employment Medical 92

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.

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. Does your employer offer options? That’s a critical first step when weighing your choice of an HDHP versus a PPO or another type of traditional health plan.

401(k) 52

401(k) Health Savings Account Deductions Deductible 52

Benefit Resource Inc.

APRIL 4, 2024

As an employer or HR manager, you’re constantly seeking ways to enhance your employee benefits package, ensuring it not only attracts top talent but also supports their financial well-being throughout their careers and into retirement. One often-overlooked gem in the world of benefits is the Health Savings Account (HSA).

401(k) 52

401(k) Retirement Plan Benefits Package Deductions 52

WEX Inc.

AUGUST 2, 2023

A FSA is an account that allows you to set aside pre-tax funds to pay out-of-pocket healthcare costs. FSAs are an employer-owned account , and the IRS sets limits on annual FSA contributions. Employers can provide either a grace period to use the money within the plan year, or a carryover of up to $610 from the plan year.

Flexible Spending Account 98

Flexible Spending Account Deductions Deductible Health 98

Benefit Resource Inc.

MAY 2, 2023

As a result, many employers are in hyper-vigilance mode, anticipating the next recession and bracing themselves for a potentially difficult ride. In this climate, employers are considering a range of strategies to mitigate their financial risks in anticipation of a possible recession.

Employment 52

Employment Flexible Spending Account Benefits Package Healthcare 52

Higginbotham

NOVEMBER 28, 2022

Employers and employees alike are looking for ways to make health care more affordable. 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)?

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductions Deductible 52