Employee Benefits

MAY 29, 2023

Employee benefits are an important aspect of any job, but can be overlooked when thinking about changing roles. Depending on those on offer, benefits can be just as valuable as a pay rise , and in some cases, even more valuable. So what constitutes a good employee benefits package?

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PeopleKeep

MARCH 6, 2023

Offering employee benefits is an effective tool for recruiting and retaining talent for many organizations. When building a benefits package, it’s important to understand which benefits can be paid for through pre-tax contributions and which are covered by post-tax deductions.

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Hppy

MAY 29, 2018

Employers have the responsibility to accurately calculate payroll deductions and pay employee benefits taxes. To ensure your business runs smoothly keeping your employees happy is one of the most important things to keep on top of. Payroll Deductions. Who gets employee benefits?

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Proskauer's Employee Benefits & Executive Compensa

MARCH 22, 2022

Effective April 1, 2022, high-deductible health plans can once again offer first-dollar coverage for telehealth and other remote services without making participants ineligible for health savings account (“HSA”) contributions.

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WEX Inc.

SEPTEMBER 12, 2023

If you’ve never been asked if you would like to participate in an employee benefits account before, you might be asking yourself, “What are all these acronyms?” To take advantage of an HSA, you need to participate in an HSA-eligible health plan (or high-deductible health plan).

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Employee Benefits

FEBRUARY 28, 2023

Whilst taking money from the pay packet reduces what an employee may receive each month, it can also reduce the taxes both employee and employer are expected to pay – if the scheme is applicable. The post THE SHARED BENEFITS OF A SALARY DEDUCT SCHEME appeared first on Employee Benefits.

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McNees

JANUARY 13, 2023

trillion dollar spending bill, contains provisions which modify the laws applicable to welfare benefit plans and retirement benefit plans. Below is a high-level list of the provisions of the Act which are effective in 2023 and which may affect your plan: Welfare Benefit Plans. Retirement Benefit Plans. The Act, a $1.7

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Employee Benefits

MARCH 15, 2023

She did not gain online access to her pay slips until early 2022, nearly a year into her employment, when she discovered that despite not earning enough to meet the tax threshold, deductions had been made from her pay. She was then dismissed by the bar owner, so raised an unfair dismissal and unauthorised deduction of wages claims.

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Insperity

MARCH 12, 2024

Launching a successful benefits program in your workplace calls for a savvy employee benefits strategy. Here, we’ll cover everything you need to know about employee benefits. Common employee benefits Here’s a list of the employee benefits that should be on your radar.

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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.

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CorpStrat

JANUARY 17, 2023

Many employee benefits are subject to annual dollar limits that are adjusted for inflation by the IRS each year. 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.

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Employee Benefits

OCTOBER 25, 2023

In a judgment that will be welcomed, the Supreme Court has determined that, in a claim by an employee for an unlawful deduction of wages arising from unpaid or underpaid holiday pay , a series of deductions will not be broken by a gap of three months or more. This will usually be as a claim for an unlawful deduction from wages.

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PeopleKeep

APRIL 15, 2022

Offering employee benefits is an effective tool for recruiting and retaining talent for many organizations. However, every employer offering benefits has to deal with the ins and outs of pre-tax and post-tax deductions. Both pre-tax and post-tax benefits have their pros and cons.

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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.

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Qandle

DECEMBER 5, 2023

Understanding Payroll Processing: At its core, payroll processing involves calculating employee compensation, including salaries, wages, bonuses, and deductions. This intricate task demands precision to comply with tax regulations and ensure employees receive their rightful earnings. Check out the HR Payroll Process.

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WEX Inc.

MAY 2, 2024

For employers, HRAs or HSAs come with perks, including tax savings and increased employee retention. We’ve outlined the key differences between an HRA and an HSA below so you can see how they work, the advantages of each, and if you should be offering one or both to your employees. Investment potential.

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Qandle

NOVEMBER 27, 2023

First and foremost, it requires a thorough understanding of applicable laws and regulations related to wages, taxes, and deductions. Automated systems can handle complex calculations, tax withholdings, and generate detailed reports, enhancing overall efficiency. Tax compliance is a significant aspect of payroll management.

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Employee Benefits

MARCH 14, 2024

We’re passionate about helping employees and businesses adopt healthier and more sustainable practices, and we’re using the Big Walk and Wheel Week to explore how you can make cycling more affordable and inclusive for all employees. As a salary deduction scheme, there are no NIC or tax savings for employers or employees.

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Empuls

JULY 11, 2023

Alongside competitive salaries and career growth opportunities, companies are now offering a wide array of tax free or non taxable employee benefits to attract and retain top talent. These perks not only provide employees with financial advantages but also contribute to a more fulfilling and enjoyable work experience.

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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.

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Employee Benefits

OCTOBER 31, 2023

Whilst a workplace pension provides a savings vehicle for retirement, many organisations want to put in place a tax efficient savings option for those looking to save in general and build financial resilience. This will provide employees with a convenient, flexible and tax efficient way to invest. million employees.

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Employee Benefits

MAY 21, 2024

In many ways… It’s cheaper to run a bike than a car – no fuel, no parking charges, tax, or MOT. However, the most significant financial benefit of cycle-to-work schemes is the tax and NIC savings for employees and employers when an employee uses their bike-to-work scheme to purchase a new cycle.

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Benefit Resource Inc.

DECEMBER 30, 2022

Pre-tax benefits are growing in popularity amongst employers and employees alike. This is because they offer a great way to save on taxes while still being able to use funds for medical, dependent care, and other expenses. HOW TO AVOID PENALTIES ON AN HSA WITHDRAWAL. DIFFERENT WAYS TO SPEND DEPENDENT CARE FUNDS.

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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.

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Deductions Deductible Family and Medical Leave Act Health and Welfare 40

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.

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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. 16+ types of employee benefits you should consider. An HSA can be used only if employees have a qualified High Deductible Health Plan (HDHP).

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WEX Inc.

JANUARY 4, 2023

In this blog post, we outline some of the ways your ability to use your employee benefits changes when you elect COBRA. You are still eligible to participate and contribute to an HSA while on COBRA as long as: You’re enrolled in an HSA-eligible health plan (or high-deductible health plan ). It is not legal or tax advice.

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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. What are employee benefits?

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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. It is not legal or tax advice.

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WEX Inc.

MAY 17, 2023

2024 HDHP minimum deductible and maximum out-of-pocket limits also are increasing. 2024 high-deductible health plan (HDHP) amounts and expense limits also increased. The 2024 HDHP minimum deductible is $1,600 for self-only coverage and $3,200 for family coverage. Be bold in support of your employees' retirement needs!

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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.

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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).

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Global People Strategist

DECEMBER 12, 2023

Navigating the intricacies of Peru’s employment landscape involves grasping key aspects such as general labor laws, tax regulations, and employee benefits. General Employment Laws Peruvian labor laws are designed to protect the rights of both employers and employees.

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Benefit Resource Inc.

MAY 15, 2024

One choice that sticks out in the ever-changing world of employee benefits for both employers and employees is a Health Savings Account (HSA). Leveraging HSA funds can be a game-changer for organizations looking to improve benefits packages and encourage financial wellness among employees.

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CorpStrat

AUGUST 11, 2022

It’s true, major medical policies can be adequate for addressing most of your employees’ direct medical expenses. However, out-of-pocket medical expenses like deductibles, co-insurance, office visits, etc. These expenses add up quickly and can become an insurmountable financial burden for employees. Life, Dental.

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Qandle

DECEMBER 5, 2023

Understanding Payroll Processing: At its core, payroll processing involves calculating employee compensation, including salaries, wages, bonuses, and deductions. This intricate task demands precision to comply with tax regulations and ensure employees receive their rightful earnings.

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Higginbotham

DECEMBER 8, 2023

As rising health care costs and inflation place pressure on both corporate and personal budgets, employers and workers alike are looking for ways to save money without sacrificing quality employee benefits. A Premium Only Plan is an option that may offer significant tax savings for all involved parties. According to the U.S.

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