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Utilizing Pre-Tax Benefits to Prioritize Health in 2023

Benefit Resource Inc.

If you’re in the 70% of people who have health-related goals for 2023, let’s take a look at how pre-tax benefits can help set goals and prioritize your health this year and beyond. Add In Pre-Tax Benefits. Plus, any interest earned on the account is tax free and the money is ALWAYS yours! Set SMART Goals.

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Mid-Year Financial Tweaks and Tasks

Money Talk

Below are ten mid-year financial tweaks and tasks: Tax-Deferred Savings Tweak - Perhaps you will get a raise on July 1. Consider completing the paperwork needed to save more money from July to December in your employer’s tax-deferred retirement savings plan. The 2023 maximum pre-tax contribution is $3,050.

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Increase Your Financial Well-Being Through Medical Savings

Benefit Resource Inc.

One such way is by utilizing health savings accounts (HSAs) and flexible spending accounts (FSAs). Health Savings Accounts allow employees (and employers) to contribute to a tax-free account to be used for eligible medical expenses. What is an HSA? What is an FSA?

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Spring Cleaning with Your Eligible Expenses

Benefit Resource Inc.

While dusting, vacuuming, and packing away winter clothes may be on the top of your spring cleaning list, have you considered reviewing your eligible expenses and utilizing your Flexible Spending Account (FSA)? Utilize resources like BRIWEB , BRIMOBILE , and Participant Services to help you navigate your benefits.

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It’s Time for a Mid-Year Financial Check-Up

Money Talk

In it, I urged a review of tax deductions/credits, tax withholding, budgeting/cash flow, flexible spending accounts, financial goal progress, and investment portfolio status. Automated Payments Review - Payments for utilities (e.g.,

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Open enrollment checklist for employers

Business Management Daily

The survey results will help you prioritize the benefit changes or expansions that would be most impactful for your current employees so that you can utilize your benefits budget effectively. HSA benefit plans: A health savings account lets employees set aside money on a pre-tax basis to pay for qualified medical expenses.

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New COVID relief package extends payroll provisions

Business Management Daily

The law also extends expiring tax provisions and everything that could be jammed into 5,593 pages of federal legislation three days before Christmas. The key payroll provisions include: An extension of the paid sick/ family leave provisions and your tax credit for providing leave. Extensions of popular payroll tax provisions.