PeopleKeep

MAY 14, 2020

Employers have a number of health plan options to choose from when it comes to offering a health benefit to employees. One option is a high deductible health plan (HDHP). 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 91

Deductions Deductible IT Employment 91

InterWest Insurance Services

MAY 23, 2024

As the workforce ages and many employers want to keep on baby-boomer staff who have the experience and institutional knowledge that is irreplaceable, one issue that always comes up is how to handle health insurance. Part D, meanwhile, covers prescription drug costs.

Employment 89

Employment Medical Health Insurance Employee Enrollments 89

Employee Benefits

FEBRUARY 29, 2024

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. Of those, 57% expressed an interest in their employer providing them with financial education and advice. Employers should avoid allowing employees to use salary advancement regularly.

IT 111

IT Salary Deductions Deductible 111

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.

Deductions 59

Deductions Deductible Paid Leave Employee Benefits 59

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

HR Lineup

APRIL 23, 2024

In business operations, particularly for employers, navigating the intricacies of tax compliance is paramount. From reporting employee wages to withholding taxes, employers must be well-versed in the forms they must file. Employers are responsible for ensuring that each new employee fills out a Form W-4 accurately.

Taxes 85

Taxes Employment Health Insurance Deductions 85

Employee Benefits

FEBRUARY 28, 2023

Salary sacrifice schemes are hugely popular among UK employees and employers. 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.

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. This is excellent news for employers and HR professionals who want to provide employees with access to affordable healthcare services. But what does this extension mean, and how can employers take advantage of it?

Deductions 40

Deductions Deductible Out of Pocket Cost Healthcare 40

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. It’s also possible that your employer has already contracted with a bank to simplify this process.

Deductions 76

Deductions Deductible Out of Pocket Cost Health Savings Account 76

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

InterWest Insurance Services

MAY 16, 2024

After enrollment in high-deductible health plans soared during the last decade, 2022 marked the first year that enrollment in these plans fell among American workers since 2013, according to a new report by ValuePenguin. ” And 10% of employers with 500 or more workers offered only these plans, compared to 13% in 2018.

401(k) 89

401(k) Deductions Deductible Health Savings Account 89

InterWest Insurance Services

MARCH 22, 2022

The deadline is fast approaching for employers with 5 or more workers in California, and who do not already offer their employees a retirement plan, to register their staff for the CalSavers Retirement Savings Program. Employers with 50 or more workers – The deadline for registration was June 30, 2021. Employers can register here.

401(k) 96

401(k) Retirement Plan Employment Deductions 96

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., 401(k), 403(b), and traditional IRA).

Taxes 262

Taxes 401(k) Deductions Deductible 262

Money Talk

OCTOBER 27, 2022

Below is a discussion of IRAs and details about how they can lower your taxes and provide a retirement savings nest egg: Description - An IRA enables workers with earned income (salary from a job or net earnings from self-employment) to save and invest for retirement. municipal bonds or bond funds).

Deductions 244

Deductions Deductible Commissions Taxes 244

WEX Inc.

MAY 10, 2024

2025 HDHP minimum deductible and maximum out-of-pocket limits also are increasing. 2025 high-deductible health plan (HDHP) amounts and expense limits also increased. The 2025 HDHP minimum deductible is $1,650 for self-only coverage and $3,300 for family coverage. It is not legal or tax advice.

Health Savings Account 105

Health Savings Account Deductions Deductible Taxes 105

HR Lineup

APRIL 19, 2024

In this comprehensive guide, we will delve into the various types of equity compensation, how they work, their tax implications, and their impact on both employees and employers. Employee Stock Purchase Plans (ESPPs): ESPPs allow employees to purchase company stock at a discounted price, often through payroll deductions.

Equity Compensation 79

Equity Compensation IT Taxes Compensation Equity 79

Workplace Insight

APRIL 2, 2024

There are a number of employment law changes coming into effect on 6 April 2024 that will impact SMEs the most. These modifications to employment law will profoundly influence the daily functions of businesses, especially during a period when SMEs face substantial economic challenges. percent of the hours worked during that pay period.

Parental Leave 114

Parental Leave Employment Deductions Deductible 114

Global People Strategist

DECEMBER 12, 2023

Austria, nestled in the heart of Europe, is renowned for its picturesque landscapes and robust employment laws. Navigating the Austrian employment landscape requires a nuanced understanding of the legal framework that governs the employer-employee relationship.

Employment 52

Employment Taxes Deductions Deductible 52

BerniePortal

JUNE 2, 2022

Employers, on the other hand, know how complicated payroll can get, especially when it comes to withholding taxes. To employees, payroll may seem pretty straightforward.

Payroll 98

Payroll Employment Commissions Deductions 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). copay plan).

Employment 90

Employment Out of Pocket Cost Health Insurance Health Savings Account 90

Money Talk

MARCH 4, 2022

Required Minimum Distributions (RMDs) - Taxpayers with traditional IRAs, SEPs (self-employed), and employer retirement savings plans (401(k), 403(b), 457, and TSP) must begin annual RMDs upon reaching age 72. Increased Standard Deduction - Taxpayers age 65+ (and those who are blind) get an increased standard deduction on federal income taxes.

Taxes 244

Taxes 401(k) Deductions Deductible 244

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. “We liked to have control. .” “A big part was trepidation. .”

Health Insurance 95

Health Insurance Employment Out of Pocket Cost Health Savings Account 95

Qandle

SEPTEMBER 20, 2023

Payroll taxes are a crucial aspect of every employer’s financial responsibilities. Understanding which payroll taxes employers are responsible for is essential for compliance and financial planning. The current Social Security tax rate for employers and employees is 6.2% Check out the Payroll Software.

Taxes 52

Taxes Payroll Employment Deductions 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

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

InterWest Insurance Services

OCTOBER 27, 2022

The plans benefit employers, as well. Since the pre-tax benefits aren’t subject to federal social security withholding taxes, employers don’t have to pay FICA or workers’ comp premiums on those payments. A cafeteria plan can save employers an average of almost $115 per participant in FICA payroll taxes.

Flexible Spending Account 82

Flexible Spending Account Employment Flexible Spending Deductions 82

Bayzat

DECEMBER 1, 2023

Understanding termination of employment processes in the UAE helps employers and workers foster healthy transition relationships. Under labour laws, responsibilities and liabilities fall on workers and employers terminating employment, and ignoring these can attract legal consequences. What is Termination of Employment?

Employment 94

Employment Human Resources Recruitment Medical 94

InterWest Insurance Services

NOVEMBER 30, 2023

American employers are trying to meet their workers’ mental health needs as they struggle with burnout and stress from their jobs and finances, according to a new report. The poll also found that only half of workers (48%) had confidence that their employers cared about their well-being.

Paid Sick Leave 89

Paid Sick Leave Employment Bonuses Medical 89

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

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 62

Deductions Deductible Health Savings Account Health Insurance 62

Joe Markland

OCTOBER 11, 2020

Over the past 6 years I have published several articles on the need to personalize health insurance (and get the employer out of the way) by making an individual insurance policy tax deductible. The running narrative around employer-based insurance is that it is not broken. The benefits of this change can be tremendous.

Health Insurance 130

Health Insurance Insurance Health Savings Account Employment 130

Global People Strategist

DECEMBER 25, 2023

Ghana, known for its vibrant culture and burgeoning economy, offers a unique landscape for employment. Navigating the workforce in this West African nation requires a comprehensive understanding of the employment laws that govern employer-employee relationships. These contributions fund pension schemes and other social benefits.

Employment 52

Employment Taxes Paid Leave Overtime 52

InterWest Insurance Services

JANUARY 5, 2023

this year, the tight labor market is forcing employers to prioritize enhancing benefits over cost-cutting measures, according to a new report by Mercer. Also, with mental health a top concern for workers, employers are seeking out benefits and plans that include virtual mental health services to make it easier to access care.

Out of Pocket Cost 70

Out of Pocket Cost Employment Health Insurance Deductions 70

Global People Strategist

DECEMBER 12, 2023

Navigating the employment landscape in Morocco involves understanding the intricacies of the country’s employment laws, which encompass regulations on general labor, taxation, and employee benefits. The Labor Code governs the employer-employee relationship, outlining the rights and obligations of both parties.

Employment 52

Employment Overtime Taxes Paid Leave 52

Global People Strategist

DECEMBER 4, 2023

Ireland’s employment laws are designed to protect employees’ and employers’ rights and interests. These laws encompass various topics, including employment contracts, working hours, wages, and workplace safety. Irish employment law sets limits on working hours to ensure employees’ well-being.

Employment 52

Employment Taxes Payroll Overtime 52

HR Bartender

AUGUST 28, 2018

Today’s reader note is questioning the number of deductions on their final pay. When I asked my employer to pay my final paycheck, including my unpaid sick and vacation as well as severance pay, they put the severance pay in the same final check as bonus. Now, my deductions are through the roof – making my net pay very small.

Deductions 70

Deductions Deductible Net Pay Bonuses 70