Benefit Resource Inc.

MARCH 28, 2024

This includes copayments, deductibles, prescriptions, and more. Health savings accounts (HSAs): HSAs are available to those with qualifying high-deductible health plans (HDHPs). Contributions to an HSA are tax-deductible, and withdrawals for qualified medical expenses are tax-free. Plus, the funds can roll over year after year.

Flexible Spending Account 52

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

Empuls

SEPTEMBER 28, 2023

Yet, behind the allure of cityscapes and rolling hills, there's a pressing concern that affects both employers and employees alike: the ever-evolving cost of living. The good news is that the research into market trends indicates a high level of willingness among employers to assist their workforce.

Bonuses 40

Bonuses Employment Transportation Taxes 40

Assurance Agency

AUGUST 23, 2023

At the end of July 2023, the Illinois General Assembly passed into law the Transportation Benefits Program Act. This law applies to employers in Chicago and surrounding areas that have 50 or more “covered employees” (defined as employees who average 35 hours per week or more). For 2023, that amount is $300.

Deductions 52

Deductions Deductible Transportation Taxes 52

Assurance Agency

AUGUST 23, 2023

At the end of July 2023, the Illinois General Assembly passed into law the Transportation Benefits Program Act. This law applies to employers in Chicago and surrounding areas that have 50 or more “covered employees” (defined as employees who average 35 hours per week or more). For 2023, that amount is $300.

Deductions 52

Deductions Deductible Transportation Taxes 52

AssuredPartners

SEPTEMBER 11, 2023

With the enactment of the Illinois Transportation Benefits Program Act (HB 2068; P.A. 103-291), the state of Illinois has taken steps towards supporting more widespread use of public transportation services for employees who commute to and from work. This includes the entire city of Chicago and the majority of its surrounding suburbs.

Taxes 52

Taxes Transportation 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. FSA Employer Contribution Limits for 2023. 2023 Retirement Plan Limits Increase.

401(k) 82

401(k) Retirement Plan Health Savings Account Deductions 82

CorpStrat

JANUARY 17, 2023

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. This gives employers time to update their plan designs and make sure their plan administration is consistent with the new limits.

401(k) 52

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

Higginbotham

AUGUST 15, 2023

As employers look for new additions to their standard benefits package in order to attract top workers, they usually focus on common pain points. If the area has toll roads, employers can reimburse workers for the tolls they pay on the way to and from work. If tolls can be prepaid, employers can pay in advance. in June 2022.

Transportation 52

Transportation Benefits Package Taxes Deductions 52

InterWest Insurance Services

DECEMBER 28, 2021

Most employers offer major medical coverage to their full-time employees. Fortunately, employers can help by offering their workers voluntary hospital indemnity insurance that can provide peace of mind in case they have a serious medical episode. The worker can use this cash benefit for any purpose, including: Deductibles.

Voluntary Benefits 91

Voluntary Benefits Hospitality Insurance Out of Pocket Cost 91

Business Management Daily

APRIL 29, 2024

Fringe benefits are how employers make up the gap. In this blog, we’ll talk about different types of fringe benefits and how employers can make the most of what’s available. Unfortunately, having insurance coverage tied to employment puts employers in a difficult position. People want more.

Out of Pocket Cost 84

Out of Pocket Cost PTO 401(k) Deductions 84

Employee Benefits

JUNE 20, 2023

A company car can be a useful attraction and retention tool for employers. Many employers which offer company car schemes will have taken this into consideration and adapted their schemes according to usage and environmental impacts to reflect modern day wants and needs.

Salary 105

Salary Transportation Taxes Work From Home 105

WEX Inc.

SEPTEMBER 12, 2023

To take advantage of an HSA, you need to participate in an HSA-eligible health plan (or high-deductible health plan). HSA-eligible health plans typically have lower premiums but higher deductibles. Assess your ability to cover the deductible before choosing this plan.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Life Insurance 52

Benefit Resource Inc.

JULY 28, 2022

On June 9, 2022, the Philadelphia, PA City Council passed an ordinance requiring certain employers to make a commuter transit benefit program available to eligible employees. The new ordinance, “ Employee Commuter Transit Benefit Programs ,” will apply to employers with 50 or more covered employees (excluding government employers).

Employment 40

Employment Taxes Transportation Deductions 40

Benefit Resource Inc.

FEBRUARY 9, 2023

If you use mass transit for work and you are enrolled in a pre-tax Commuter Benefits Plan (CBP) through your place of employment, you’ll want to be aware of what you can (and can’t) purchase with your CBP funds. Starter FAQs: CBPs and Mass Transit How do I know if my employer offers a CBP? When do I enroll in a CBP?

Transportation 98

Transportation Taxes Deductions Deductible 98

Benefit Resource Inc.

MARCH 15, 2023

What employers should consider Finding the right Commuter Benefit Plan (CBP) doesn’t have to be difficult. As an employer, you save 7.65 An ideal program encompasses all forms of pre-tax transportation (i.e. 2 Program Administration Some employers choose to self-administer their commuter benefit programs.

Transportation 98

Transportation Deductions Deductible Taxes 98

HR Digest

OCTOBER 22, 2023

401(k) as a Fringe Benefit The very popular 401(k) is also a fringe benefit as employers can choose to assist employees with their retirement planning. There are some categories for exceptions but largely, benefits are included in the employee’s W-2 forms that are sent to the IRS by the employer.

401(k) 52

401(k) Employee Stock Option Deductions Deductible 52

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. FSA Employer Contribution Limits for 2022.

401(k) 55

401(k) Retirement Plan Health Savings Account Deductions 55

The Workcomp Writer

JANUARY 19, 2024

The trial court stressed that the legislature, in terms of statutory language, had never expressed a desire to control and govern how courts deal with cases where a plaintiff seeks to recover tort damages unrelated to employment. But Hearst had not deducted taxes from Ryder’s pay, nor had Hearst offered Ryder insurance.

Workers’ Compensation 52

Workers’ Compensation Insurance Transportation Deductions 52

Benefit Resource Inc.

JULY 21, 2020

While the last several months were fraught with uncertainty and changes, we also saw several clarifications for pre-tax benefits, including Qualified Transportation Fringe Benefits. The provision under review is the piece of the TCJA that made qualified transportation fringe benefits nondeductible for taxable year s beginning after 2017.

Transportation 40

Transportation Deductions Deductible Taxes 40

Business Management Daily

APRIL 25, 2024

Employers are required by law to provide certain benefits to employees. Beyond that, however, fringe benefits can help employers sweeten the deal and make work a better place to be. Employers can use this to their favor by distinguishing themselves as a desirable place to work. Various factors can influence lease value.

Taxes 52

Taxes Retirement Plan Employee Stock Option Bonuses 52

Genesis HR Solutions

JUNE 5, 2023

In the course of business, it’s common practice for employers to reimburse their employees for certain business expenses. A well-designed policy not only reduces confusion around expenses but it also helps maximize the tax benefits related to expense reimbursement for both employee and employer.

Deductions 40

Deductions Deductible Taxes Retirement Plan 40

Business Management Daily

JULY 20, 2022

Additionally, employers should actively plan and budget for these expenses. They are often related to business travel, but can also include work supplies, personal devices used for work, and mileage or transportation expenses. If you only have a couple of full-time employers, a healthcare reimbursement system may be more manageable.

Entertainment 59

Entertainment Transportation Health Insurance Taxes 59

Benefit Resource Inc.

APRIL 29, 2020

In this week’s episode of Hall Pass, CEO Jason Hall discusses employer concerns during COVID-19 with Account Executive Team Lead Jaclyn Brosnan. Jaclyn provides information for employers on election changes for different account types, making changes to your plan design, and taking advantage of Specialty Accounts.

Employment 52

Employment Medical Taxes Transportation 52

Enjoy Benefits

MARCH 10, 2023

Whether it’s getting to the office or travelling as part of the working day, most of us still need transport. There’s no cost to employers to offer the staff the benefit of a new car so why not find out more today? Over 750,000 people in England and Wales cycle to work, according to the Institute for Employment Studies.

Transportation 52

Transportation Salary Manufacturing Benefits Package 52

Higginbotham

JANUARY 4, 2022

Examples of this coverage could include ambulance transportation, drugs and medical supplies, such as bandages. There are two main types of ancillary health insurance: voluntary benefits and employer contributory benefits. There are two main types of ancillary health insurance: voluntary benefits and employer contributory benefits.

Health Insurance 52

Health Insurance Insurance Disability Insurance Life Insurance 52

HR Digest

JUNE 19, 2019

Commuter benefits are expenses reduction program provided by employers to employees. It is also known as transportation or transit benefits. The program is provided to help employees in reducing their monthly transportation expenses. Employee commuter benefits are pre-tax payroll deductions.

Payroll Software 45

Payroll Software Transportation Deductions Deductible 45

Employee Benefits

FEBRUARY 22, 2023

The employee saves the income tax and national insurance (NI) contributions and the employer makes savings on the amount of salary that has been sacrificed. A leasing organisation will lease a car to the employer, which will pay the leasing costs and manage a separate salary sacrifice agreement with its employees.

Salary 98

Salary Taxes Insurance Government 98

Business Management Daily

OCTOBER 12, 2020

The Tax Cuts and Jobs Act hasn’t been kind to employers. Employers not covered under the FMLA and employers extending paid leave to employees who would otherwise not qualify for FMLA leave may also take the credit, if their written policies contain a noninterference clause. IRC § 45S for pandemic relief. The credit equals 12.5%

Paid Leave 52

Paid Leave Paid Sick Leave Deductions Deductible 52

Business Management Daily

JANUARY 6, 2020

Regulations on deducting employees’ meal expenses. This follows up on Notice 2018-76, which sets five criteria for corporate deductions for employees’ meals. Regulations concerning qualified transportation fringe benefits and the disallowance of corporate deductions for employees’ parking expenses.

401(k) 52

401(k) Family and Medical Leave Act Deductions Deductible 52

Benefit Resource Inc.

JULY 30, 2020

The Families First Coronavirus Act requires all private insurance plans to cover COVID-19 testing without deductibles, co-insurance, or co-pays. Tele-health services can be covered prior to the deductible and remain HSA-eligible. Relief options for FSAs due to COVID-19.

Deductions 60

Deductions Deductible Medical Insurance 60

Benefit Resource Inc.

DECEMBER 30, 2021

Temporary relief in 2021 allowed for the entire balance to rollover) Transportation Benefits (Mass Transit and Parking): $280/mo. (Up Contribution Limit: $3,650 (Up from $3,600 in 2021) HDHP minimum deductible: $1,400 (No change from 2021) HDHP maximum out of pocket: $7,050 (Up from $7,000 in 2021). Up from $270/mo. Family Coverage.

Health Savings Account 40

Health Savings Account Deductions Deductible Flexible Spending Account 40

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. There are four major types of employee benefits many employers offer: medical insurance, life insurance, disability insurance, and retirement plans. Retirement.

401(k) 98

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

Business Management Daily

OCTOBER 4, 2021

Whether the driver is salesman Frank who makes daily business calls or administrative assistant Megan who transports herself and a few colleagues to training sessions at the organization’s other branch once a quarter, it pays for employees to understand the responsibilities that come with driving a company car. Think again.

Transportation 52

Transportation Deductions Deductible Human Resources 52

Business Management Daily

JANUARY 17, 2020

The deficiency was due in large part to the IRS disallowing travel and away-from-home expense deductions he claimed in connection with his timber business. For 2013, a self-employed attorney deducted $67,829 in Schedule A expenses, including unreimbursed employee business expenses. He then used the log to prepare a summary for the IRS.

Taxes 52

Taxes Entertainment Deductions Deductible 52

Business Management Daily

NOVEMBER 15, 2021

Employers are constantly looking for ways to remain competitive in their benefits offerings, and an FSA is a great add-on to your benefits package. They may also be questioning whether they have a need for an FSA and if so, how much they should choose to have deducted each month. Copays, co-insurance, and deductibles for medical care.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Medical Healthcare 98

Benefit Resource Inc.

JUNE 24, 2020

Higher healthcare deductibles and premiums may occur due to COVID-19. As a result, employers may choose to offer Health Savings Accounts (HSAs) and Health Reimbursement Accounts (HRAs) at greater rates to offset high deductible risks. Similarly, we may see increased enrollment in these accounts by participants. Webinars.

Health Savings Account 52

Health Savings Account Deductions Deductible Transportation 52

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. Attracting and retaining top talent is more important than ever. What are employee benefits?

Family and Medical Leave Act 40

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