InterWest Insurance Services

JANUARY 17, 2023

If your firm has fewer than 20 employees, workers who are 65 or older can no longer contribute to an HSA as they are not compatible with Medicare. Employees who are 65 or older should stop making contributions to their HSA six months before they enroll in Medicare or before they apply for Social Security benefits if they are still working.

Health Insurance 97

Health Insurance Insurance Health Savings Account Hospitality 97

InterWest Insurance Services

NOVEMBER 10, 2022

One of the most difficult aspects of annual open enrollment is reaching workers who are disengaged from the process and never bother signing up for your group health plan and other benefits they could take advantage of. Also consider that one in three employees are uncertain about their ability to cover future health care expenses.

401(k) 97

401(k) Health Savings Account Health Insurance Insurance 97

Higginbotham

JULY 12, 2022

Employees may face uncovered costs in numerous ways: They have to pay a share of the premium for insurance. They have to pay a deductible. HSAs are designed to work with high deductible health plans, and both the employer and the employee may contribute up to the annual contribution limit. Funds do not expire.

Out of Pocket Cost 52

Out of Pocket Cost Flexible Spending Account Medical Deductions 52

Fringe Benefit Analysts

AUGUST 15, 2022

Businesses must also meet certain criteria to be able to offer group health insurance to their employees. They must have at least one full-time employee who works at least 30 hours per week, and they must pay payroll taxes. How To Enroll. The biggest benefit of group health insurance for employees is lower premiums.

Insurance 52

Insurance Health Insurance IT Deductions 52

HR Professionals Magazine

MAY 4, 2023

A 2022 Harris poll found that 72% of employees said “they wish someone would tell them what the best health insurance for their unique situation is.” AI Enabled Benefits Education According to a recent study by the Hartford, “76% of employers say educating employees about benefits” remains challenging.

Technology 52

Technology Utilities Payroll Deductions 52

Business Management Daily

NOVEMBER 30, 2021

Flexible spending accounts (FSAs) are employer-established accounts that allow you to put aside pre-tax dollars from your paycheck into a special account to be used for eligible health or dependent care expenses. The patient does not have to be the employee. Health care provider’s name. Dependent care FSA receipt requirements.

Retail 52

Retail Healthcare Medical Flexible Spending Account 52

Business Management Daily

NOVEMBER 15, 2021

Flexible Spending Accounts allow employees to set aside pre-tax dollars from their paycheck to use for medical or dependent care expenses. These funds are placed in an FSA account that employees can use to pay for eligible expenses. The maximum that an employee may contribute to a healthcare FSA is $2,750. Healthcare FSA.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Medical Healthcare 98

Business Management Daily

SEPTEMBER 27, 2019

An ounce of prevention may be worth a pound of cure, but up until this point, high-deductible health plans have been boxed in regarding tax-free reimbursements for most preventive care services or items. Reason: With certain exceptions, HDHPs can’t start reimbursing employees until they meet those high deductibles.

Health Savings Account 40

Health Savings Account Deductions Deductible Flexible Spending Account 40

Corporate Synergies

AUGUST 6, 2018

Health savings accounts can be a good deal for employees. High deductible health plans (HDHPs) are on the rise as a growing number of employers turn to consumer-directed health plans to try to curb costs—the portion of employees enrolled in HDHPs rose from 26.3% But do they really understand HSA value? in 2011 to 39.3%

401(k) 40

401(k) Health Savings Account Retirement Plan Deductions 40

Benefit Resource Inc.

DECEMBER 10, 2021

and so much more. That’s a LOT! Factoring in all of the time and effort it takes to handle all of the above, it makes sense for most organizations to partner with trusted third-party payroll and benefits administrators who can do the heavy lifting.

Payroll 40

Payroll Employee Enrollments Deductions Deductible 40

Winston Benefits

MAY 15, 2018

If you plan to use the platform to communicate with employees, make sure it can host communication materials and videos. Consider enrollment windows as well. Some platforms can integrate with payroll, talent-management platforms and other systems — and even simplify tax credit applications. Customization. Integration.

Technology 45

Technology Employee Enrollments Deductions Deductible 45

WEX Inc.

JULY 20, 2023

In the first post of this year’s open enrollment series, we break down some of the common feedback we received from those who said their benefits options were lacking so you can build the best benefits package going into your open enrollment. Specific responses included: “A lower deductible or copay options would be an improvement.”

Deductions 75

Deductions Deductible Flexible Spending Account Health Savings Account 75

AssuredPartners

JUNE 5, 2018

While many employers now offer consumer-driven plans, uptake by employees isn’t phenomenal with only around a third of eligible employees enrolled in a CDHP.nSo what’s going wrong?nn"},{"attributes":{"bold":true},"insert":"Barriers For context, that is more than a quarter of people aged 19-64.nSo nSo why is this such a problem?

Healthcare 40

Healthcare Deductions Deductible Insurance 40

Benefit Resource Inc.

AUGUST 13, 2019

The term “high deductible health plan” has often carried with it a negative connotation for employees. According to a recent article from SHRM covering research from the Employees Benefit Research Institute (EBRI), enrollment in an HDHP promotes more conscious health care purchase decisions. Like this blog?

Deductions 45

Deductions Deductible Health Savings Account Employee Enrollments 45

Business Management Daily

SEPTEMBER 9, 2021

FSAs are primarily funded by employees through pretax deductions, although employers may make contributions. Tax advantage: Employees’ and employers’ contributions are excluded from employees’ wages and aren’t subject to income or FICA taxes. Employees usually contribute to HSAs on a pretax basis.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Employment Flexible Spending 52

PeopleStrategy

NOVEMBER 12, 2019

Assessing open enrollment and employees’ overall involvement in benefit offerings should be a big part of any year-end HR checklist. Obviously you and the providers you select for your benefit offerings need to know how many employees enroll in each plan. Payroll compliance checks.

Overtime 56

Overtime Payroll Employee Enrollments Deductions 56