Benefit Resource Inc.

MARCH 31, 2023

As an employee with a Health Savings Account (HSA), knowing what you need to report during tax season is important. First, contributions to your HSA are tax-deductible, which means they’re not subject to federal income tax. Do you have additional pre-tax accounts and have questions about their tax implications as well?

Health Savings Account 52

Health Savings Account Taxes Healthcare Medical 52

InterWest Insurance Services

AUGUST 10, 2022

Employers who offer health savings account-eligible high-deductible health plans (HDHPs) to employees can significantly expand pre-deductible coverage for certain drugs used to manage chronic conditions — with only a tiny effect on premiums. Improved disease management. Improved disease management.

Deductions 96

Deductions Deductible Family and Medical Leave Act Health Savings Account 96

WEX Inc.

MAY 22, 2019

When it comes to managing employee benefits, employers are frequently turning to high-deductible health plans to help control costs. But managing – and keeping up with – HSA requirements has its difficulties.

Health Savings Account 61

Health Savings Account Deductions Deductible Healthcare 61

Proskauer's Employee Benefits & Executive Compensa

JANUARY 31, 2023

provisions make some significant changes for retirement plans , but CAA 2023 also extends the telehealth plan safe harbor for high-deductible health plans (“HDHPs”) that were first introduced in the 2020 CARES Act. Generally, a participant must pay their HDHP’s deductible before the plan can cover medical services.

Deductions 98

Deductions Deductible Health Savings Account Retirement Plan 98

PeopleKeep

SEPTEMBER 26, 2022

When considering health insurance policies for your organization, you may have wondered if it’s better to have a low deductible health plan (LDHP) or a high deductible health plan (HDHP). While HDHPs have higher deductibles than LDHPs, as the name implies, there can be benefits to taking on the risk.

Deductions 52

Deductions Deductible Health Savings Account Health Insurance 52

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.

Deductions 97

Deductions Deductible Health Savings Account Taxes 97

Proskauer's Employee Benefits & Executive Compensa

JUNE 27, 2023

As a reminder, if an HDHP covers medical items and services before the participant satisfies the IRS minimum deductible (self-only or family), that coverage may disqualify the participant’s HSA contributions. Can an HDHP continue to provide pre-deductible coverage of COVID-19 testing and treatment without impacting HSA eligibility?

Deductions 52

Deductions Deductible Health Savings Account Medical 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. HSA as a Retirement Account. Do Your Homework.

Deductions 76

Deductions Deductible Out of Pocket Cost Health Savings Account 76

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

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 75

Deductions Deductible Health Savings Account Health Insurance 75

WEX Inc.

OCTOBER 4, 2023

Participating in a health savings account (HSA) or flexible spending account (FSA) is a great way to save money. Health savings account An HSA is an individually owned benefits plan funded by you or your employer that lets you save on purchases of eligible expenses.

401(k) 98

401(k) Flexible Spending Account Health Savings Account Flexible Spending 98

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 261

Taxes 401(k) Deductions Deductible 261

WEX Inc.

MARCH 16, 2023

How much should I contribute to my health savings account (HSA) each month? If you’re covered by an HSA-eligible health plan (or high-deductible health plan ), the IRS allows you to put as much as $3,650 per year (in 2022) into your health savings account (HSA). What is an HSA?

Health Savings Account 98

Health Savings Account Deductions Deductible Healthcare 98

WEX Inc.

MAY 17, 2023

2024 HDHP minimum deductible and maximum out-of-pocket limits also are increasing. Health savings account (HSA) contribution limits are on the rise again in 2024. 2024 high-deductible health plan (HDHP) amounts and expense limits also increased.

Health Savings Account 98

Health Savings Account Deductions Deductible Taxes 98

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.

Deductions 97

Deductions Deductible Health Savings Account Employee Enrollments 97

WEX Inc.

MARCH 7, 2023

We wanted to share a few tips and reminders about the health savings account (HSA) information you’ll need for your tax return. It also shows pre-tax contributions made to your account by you and your employer through payroll deductions. The season for filing taxes is upon us once again.

Taxes 98

Taxes Health Savings Account Deductions Deductible 98

Money Talk

JUNE 28, 2023

Consider completing the paperwork needed to save more money from July to December in your employer’s tax-deferred retirement savings plan. Even 1% more of pay in savings adds up over time. Health Savings Account (HSA) Tweak - By mid-year, you know what you already spent for health care services through June.

Flexible Spending Account 237

Flexible Spending Account Banking Health Savings Account Finance 237

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

Benefit Resource Inc.

FEBRUARY 7, 2024

A key player in the balance between health and wealth is the health savings account (HSA). Understanding HSAs Health Savings Accounts are tax-advantaged savings accounts designed to help individuals and families with high-deductible health plans (HDHPs) cover medical expenses.

Health Savings Account 52

Health Savings Account Healthcare Deductions Deductible 52

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

Benefit Resource Inc.

MARCH 28, 2024

Pre-tax benefits are a powerful tool for saving money and maximizing your income. From flexible spending accounts (FSAs) to health savings accounts (HSAs) and commuter benefits, these options offer significant advantages if managed wisely. This includes copayments, deductibles, prescriptions, and more.

Flexible Spending Account 52

Flexible Spending Account 401(k) Health Savings Account Flexible Spending 52

PeopleKeep

MAY 19, 2021

A health savings account (HSA) is a tax-advantaged savings account a family or individual can use to pay for qualified medical expenses. HSAs are paired with a high-deductible health plan (HDHP) and have annual contribution limits.

Health Savings Account 98

Health Savings Account Deductions Deductible Medical 98

AssuredPartners

MAY 1, 2022

Each year around this time the IRS announces the inflation-adjusted limits for Health Savings Accounts (HSAs) and High Deductible Health Plans (HDHPs), as they are required to do so annually prior to June 1st. Health Savings Accounts and High-Deductible Health Plans. Family: +450.

Health Savings Account 98

Health Savings Account Deductions Deductible Employment 98

PeopleKeep

FEBRUARY 9, 2022

A health savings account (HSA) is an employee-owned account designed to set aside pre-tax money to pay for qualified medical expenses such as deductibles, copayments, coinsurance, and other out-of-pocket expenses included in IRS publication 502.

Health Savings Account 98

Health Savings Account Deductions Deductible Healthcare 98

Benefit Resource Inc.

JANUARY 16, 2024

Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are two of the most effective instruments for optimizing health savings and financial flexibility for both employers and employees among the different components of a comprehensive benefits strategy.

Benefits Package 52

Benefits Package Flexible Spending Account Health Savings Account Flexible Spending 52

WEX Inc.

SEPTEMBER 14, 2023

When approaching open enrollment, do … Evaluate available health insurance plans. Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans.

401(k) 98

401(k) Health Savings Account Flexible Spending Account Healthcare 98

PeopleKeep

OCTOBER 4, 2021

Since many marketplace health insurance plans can be supplemented with a health savings account (HSA) , married couples can open two HSAs, one for each spouse, under certain conditions. This is true even if you’re both covered by the same high-deductible health plan (HDHP).

Health Savings Account 98

Health Savings Account Health Insurance Deductions Deductible 98

Griffin Benefits

JUNE 7, 2023

On May 16, 2023, the IRS released Revenue Procedure 2023-23 to provide the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2024. The IRS is required to publish these limits by June 1 of each year.

Health Savings Account 77

Health Savings Account Deductions Deductible Taxes 77

Benefit Resource Inc.

APRIL 4, 2024

One often-overlooked gem in the world of benefits is the Health Savings Account (HSA). Understanding HSAs HSAs are tax-advantaged savings accounts designed to help individuals save for medical expenses. Flexibility and Control In addition to their savings, HSAs offer unparalleled flexibility.

401(k) 52

401(k) Retirement Plan Benefits Package Deductions 52

Benefit Resource Inc.

FEBRUARY 21, 2024

The Health, Wealth, Wellness Triangle has emerged as a framework that acknowledges the interconnectedness of personal health, financial stability, and overall wellness. The Health Component A cornerstone of the Health, Wealth, Wellness Triangle is, unsurprisingly, health itself.

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductions Deductible 52

Benefits Notes

NOVEMBER 21, 2023

The IRS also announced the health savings account (HSA) and high deductible health plan (HDHP) annual deductible and out-of-pocket expense adjustments earlier this year in Revenue Procedure 2023-23 and the health flexible spending arrangement (Medical FSA) adjustments in Revenue Procedure 2023-34.

401(k) 52

401(k) Health Savings Account Retirement Plan Deductions 52

InterWest Insurance Services

JANUARY 18, 2024

With more than half of all private sector employees enrolled in high-deductible health plans , it’s important that employers have in place certain protocols to ensure that they are a success. HSAs are tax-advantaged accounts that allow enrollees to save up to pay qualified medical expenses.

Out of Pocket Cost 62

Out of Pocket Cost Deductions Deductible Voluntary Benefits 62

PeopleKeep

MAY 24, 2021

Two of the most popular ABHPs are health savings accounts (HSAs) and health reimbursement arrangements (HRAs), including qualified small employer HRAs (QSEHRAs) made specifically for small businesses with fewer than 50 full-time employees.

Health Savings Account 98

Health Savings Account Benefits Package Deductions Deductible 98

BerniePortal

DECEMBER 20, 2021

Of course, not all medical expenses are covered by an individual’s health insurance plan. A health savings account is an excellent employee benefit to accompany a high-deductible health plan, and account-holders should be encouraged to take advantage of these tax-free funds.

Health Savings Account 96

Health Savings Account Health Insurance Deductions Deductible 96

InterWest Insurance Services

MAY 18, 2023

A new study has found that people enrolled in traditional PPOs and HMOs are more satisfied with their plans than those who are enrolled in high-deductible health plans. The sticker shock that comes with paying for those deductibles is likely partly responsible for those feelings.

Out of Pocket Cost 98

Out of Pocket Cost Health Savings Account Deductions Deductible 98

WEX Inc.

AUGUST 15, 2023

If you rarely require medical care and prefer to save on monthly premiums, a plan with a higher deductible and lower premiums might be suitable. On the other hand, if you anticipate regular medical visits, chronic conditions, or potential emergencies, a plan with lower deductibles and higher premiums may offer better cost protections.

Deductions 98

Deductions Deductible Healthcare Flexible Spending Account 98

Benefit Resource Inc.

OCTOBER 31, 2022

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. And because the funds are set aside pre-tax, you can save up to 30% on your eligible medical expenses.

Taxes 75

Taxes Flexible Spending Account Health Savings Account Flexible Spending 75