PeopleKeep

MAY 14, 2020

One option is a high deductible health plan (HDHP). Employers have a number of health plan options to choose from when it comes to offering a health benefit to employees. Although its benefits appeal to a select group of employers, an HDHP can be a valuable tool in an employer's health benefits toolkit.

Deductions 95

Deductions Deductible IT Employment 95

PeopleKeep

DECEMBER 10, 2021

Whether you’re an employer looking for group plan options or an individual looking for yourself and your family, the question that is likely on your mind is: “Is it better to have a high deductible health plan (HDHP) or a low deductible health plan (LDHP)?”.

Deductions 98

Deductions Deductible Health Insurance Insurance 98

BerniePortal

SEPTEMBER 23, 2021

As the time nears for organizations to renew their health plan , many employees may become concerned if their health insurance deductibles are also set to renew. If an employee is on the cusp of meeting their deductible when it comes time for their health insurance plan to reset, it can be an understandable worry.

Deductions 98

Deductions Deductible Insurance Health Insurance 98

Higginbotham

SEPTEMBER 28, 2022

A deductible is an amount that the insurer and insured have agreed to deduct from the value of a loss before the insurance company pays the remainder, up to the limits of a commercial property or liability insurance policy. Policy Limits Include the Deductible. Deductibles Help Insurers and Insureds.

Deductions 52

Deductions Deductible Insurance Banking 52

BerniePortal

JULY 14, 2021

When an organization renews health plans in the middle of the year, employees might worry that their deductible will reset. It’s an understandable worry; if they’re close to meeting their deductible and have to start all over again, it could impact their medical decisions and their financial health.

Deductions 98

Deductions Deductible Health Insurance Insurance 98

Employee Benefits

FEBRUARY 29, 2024

Or not… As an employer, you could fund an employee loan, repaid through salary deductions, providing them with a manageable and safe way to afford the things they need. We’ve created a holistic picture of how employers can turn poor employee financial wellbeing around, and why doing so is an investment in the future. Request a call today.

IT 111

IT Salary Deductions Deductible 111

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

AssuredPartners

JUNE 28, 2023

The latest pandemic-related guidance to go away is the special rule that enabled high-deductible health plans (HDHPs) to cover COVID-19 testing and treatment for plan enrollees prior to them fulfilling their minimum deductible amount.

Deductions 52

Deductions Deductible Insurance IT 52

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. However, if it’s not part of your medical plan, that expense won’t go towards meeting your deductible.

Deductions 76

Deductions Deductible Out of Pocket Cost Health Savings Account 76

Patriot Software

AUGUST 31, 2022

So, you must understand the difference between pre-tax vs. post-tax deductions. If you provide benefits to employees, you probably wonder how to withhold wages for the benefits properly. Do you withhold the premiums and contributions before or after taxes? Can you choose to withhold however you want? Well, it depends on the benefit.

Deductions 72

Deductions Deductible Taxes IT 72

Employee Benefits

FEBRUARY 28, 2023

The post THE SHARED BENEFITS OF A SALARY DEDUCT SCHEME appeared first on Employee Benefits. Whether your people need help buying a new bike, electric car or top tech or wish to purchase more annual leave – salary sacrifice schemes can make it affordable.

Deductions 52

Deductions Deductible Salary Taxes 52

Benefit Resource Inc.

JANUARY 4, 2023

The 2023 spending bill signed into law on December 29th includes extending pre-deductible telehealth services coverage. WHAT IS PRE-DEDUCTIBLE TELEHEALTH COVERAGE? Pre-deductible telehealth coverage allows HSAs-qualifying high-deductible health plans (HDHPs) to cover telehealth and remote-care services on a pre-deductible basis.

Deductions 40

Deductions Deductible Out of Pocket Cost Healthcare 40

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

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

Honeybee

FEBRUARY 25, 2021

An infographic showing how Honeybee allows users to personalize their benefits, and how it relates to deductibles and co-insurance. The post Deductibles & Co-Insurance: Personalize Your Benefits (Infographic) appeared first on Honeybee Benefits.

Deductions 52

Deductions Deductible Insurance IT 52

HR Lineup

APRIL 19, 2024

Employee Stock Purchase Plans (ESPPs): ESPPs allow employees to purchase company stock at a discounted price, often through payroll deductions. Once the restrictions expire, the shares become fully owned by the employee. Retention and Incentives: Equity compensation serves as a powerful tool for employee retention and motivation.

Equity Compensation 81

Equity Compensation IT Taxes Compensation Equity 81

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

PeopleKeep

OCTOBER 26, 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. 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.

Deductions 75

Deductions Deductible Health Savings Account Health Insurance 75

Money Talk

OCTOBER 11, 2023

Tax Write-Off for Self-Employment Tax - On line 15 of Schedule 2 (for a 1040 form), self-employed workers can write off the deductible portion of their self-employment tax (calculated on Schedule SE), which will lower adjusted gross income (AGI), a trigger for many other taxes.

Employment 209

Employment Deductions Deductible Taxes 209

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. The 2022 standard deduction is $12,950 for individuals ($14,700 age 65+) and $25,900 for married filing jointly ($28,700 if both spouses are age 65+).

Taxes 262

Taxes 401(k) Deductions Deductible 262

Global People Strategist

JULY 9, 2020

The Australian Taxation Office (ATO) has created short-cuts for employers and workers in order to deduct certain home office expenses. For example, employees may deduct a rate of 52 cents per hour for operating costs in addition to $50 per year for work related phone and Internet costs.

Deductions 52

Deductions Deductible Work From Home Utilities 52

WEX Inc.

APRIL 25, 2024

High-deductible health plans (HDHPs) have become increasingly popular over the last few years by offering unique features and benefits that appeal to many individuals and families. An HDHP is a type of health plan characterized by its higher deductibles and typically lower premiums compared to traditional health plans.

Health Savings Account 52

Health Savings Account Deductions Deductible Out of Pocket Cost 52

Money Talk

MARCH 22, 2023

I recently attended a NY Public Library webinar about tax planning and below is a summary: Standard Deduction - 2023 saw the largest ever automatic adjustment to standard deductions since indexing was introduced in the 1980s. A larger standard deduction means that taxpayers can shelter more income from income taxes.

Taxes 188

Taxes 401(k) Deductions Deductible 188

Take It Personel-ly

MARCH 1, 2021

If you recently became an employee who works from home, you might be wondering if you can use your home office as a tax deduction. Figuring out the home office tax deduction for a remote employee can be confusing, but we’re here to help break […]. According to one survey, 41.8% of people say that they work remotely.

Deductions 54

Deductions Deductible Taxes Work From Home 54

AssuredPartners

MAY 11, 2021

Many savvy aircraft owners / risk managers ask if accepting higher deductibles on their aviation insurance will result in a decrease in premium. Increasing deductibles generally save insurance companies money in areas of insurance that have a high loss frequency, like auto insurance. Our issue is one of loss severity.

Deductions 40

Deductions Deductible Insurance Management 40

Business Management Daily

NOVEMBER 9, 2020

Transportation fringes are treated a bit differently from other benefits employees can purchase with pretax deductions. But there is a huge glitch: You can no longer deduct the cost of providing transportation fringes to employees on your Form 1120. The post What are employees supposed to do with their excess pretax deductions?

Deductions 52

Deductions Deductible Transportation Construction 52

HR Bartender

AUGUST 28, 2018

Today’s reader note is questioning the number of deductions on their final pay. Now, my deductions are through the roof – making my net pay very small. Nagele-Piazza] Employers need to make sure they are deducting taxes appropriately, whether it is regular income, bonuses, or other supplemental wages.

Deductions 70

Deductions Deductible Net Pay Bonuses 70

HR Lineup

APRIL 1, 2024

This includes understanding residency rules, tax treaties, and any applicable exemptions or deductions. This involves considering factors such as income, allowances, deductions, and tax rates. This article aims to provide a comprehensive overview of what shadow payroll is, why it’s important, and when it’s required.

Payroll 52

Payroll Payroll System IT Taxes 52

HR Digest

APRIL 4, 2022

It includes bonuses, leaves, and deductions. Payroll makes payment for employees easy and secure with an eye on expenses and deductions. These options include wages, deductions, pensions , and all the necessary financial documents that are relevant to the company. . Let’s see why this system is so important in companies today.

Payroll Manager 52

Payroll Manager Payroll Management IT 52

Assurance Agency

APRIL 12, 2023

Benefits administration technology (Ben Admin) is a web-based database for all employees who are eligible for employee benefits. What isn’t Ben Admin First and foremost, ben admin isn’t the same as an ACA eligibility system.

Technology 52

Technology IT Insurance Carriers Deductions 52

Benefit Resource Inc.

FEBRUARY 7, 2022

Increasing deductibles is key for employers to use in managing ever-increasing premiums. • A “high” deductible plan still has a negative connotation. In 2021, 85% of covered workers enrolled in a plan with the general annual deductible, but many hesitate to move to an HDHP/SO option because of the name “high” deductible.

Insurance 81

Insurance Deductions Deductible IT 81

Business Management Daily

FEBRUARY 12, 2019

The Tax Cuts and Jobs Act’s extension of the 50% corporate deduction limit to convenience meals has allowed the IRS to refine its previous guidance. The post Special analysis: Business meals deduction appeared first on Business Management Daily.

Deductions 40

Deductions Deductible Taxes Management 40

Money Talk

JUNE 16, 2023

Of course, policy deductibles (e.g., $500) All policies have very specific language about types of losses that are covered (e.g., hurricane damage) and those that are not (e.g., flood damage and business use of a home). 500) apply before any damage claims are paid. Learn the Claims Process - Write down the steps to file a claim.

Deductions 237

Deductions Deductible Insurance Banking 237

Money Talk

JANUARY 18, 2023

Standard Deduction - The amount of income taxpayers can shelter from income taxes rises with inflation (e.g., for couples filing jointly, the standard deduction is $27,700 in 2023 vs. $25,900 in 2022). Not surprisingly, much of the news was negative; e.g., soaring prices for food, gas, utilities, cars, insurance, and more.

401(k) 245

401(k) Banking Deductions Deductible 245

Money Talk

NOVEMBER 9, 2023

Another way that some people proactively plan is to postpone deductible expenses until RMDs begin as a way to offset higher taxable income. Examples include an older landlord delaying rental property improvements until after RMD age and delayed itemized deduction bunching.

Pension 185

Pension Taxes Deductions Deductible 185

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. HDHP vs. PPO deductible Nearly two-thirds of large employers provide their employees with the choice of an HDHP and a traditional health plan , such as a preferred provider organization (PPO). It is not legal or tax advice.

Deductions 97

Deductions Deductible Health Savings Account Employee Enrollments 97

Qandle

DECEMBER 5, 2023

Understanding Payroll Processing: At its core, payroll processing involves calculating employee compensation, including salaries, wages, bonuses, and deductions. Understanding Payroll Processing: At its core, payroll processing involves calculating employee compensation, including salaries, wages, bonuses, and deductions.

Payroll 98

Payroll Net Pay Gross Pay Payroll System 98