WEX Inc.
SEPTEMBER 12, 2023
To take advantage of an HSA, you need to participate in an HSA-eligible health plan (or high-deductible health plan). HSA-eligible health plans typically have lower premiums but higher deductibles. Assess your ability to cover the deductible before choosing this plan.
Higginbotham
JANUARY 4, 2022
Often referred to as “ancillary benefits,” ancillary insurance can include coverage for miscellaneous medical expenses incurred during a hospitalization that may not be covered by your group health insurance. Examples of this coverage could include ambulance transportation, drugs and medical supplies, such as bandages.
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Business Management Daily
APRIL 25, 2024
Taxable vs. Non-taxable Benefits are always tax-deductible, aren’t they? Taxable examples of fringe benefits might include: Gym memberships Moving stipends beyond the actual moving cost Personal use of a company car Frequent flyer miles when converted to cash Certain life insurance payments Information like this can come as a shock.
HR Digest
OCTOBER 22, 2023
The plan’s popularity is also aided by the fact that the employers matching contributions to the plan are tax deductible, allowing both parties to make a useful contribution to the employee’s future. Can Employers Deduct Fringe Benefits?
Genesis HR Solutions
SEPTEMBER 22, 2020
There are four major types of employee benefits many employers offer: medical insurance, life insurance, disability insurance, and retirement plans. Medical Insurance. Using untaxed dollars in an HSA to pay for deductibles, copayments, coinsurance, and some other expenses can lower overall health care costs.
Genesis HR Solutions
JUNE 5, 2023
The IRS does not mandate accountable plans, but having such a plan in place enables your business to conform to IRS regulations concerning deductible reimbursements and reimbursements that are judged taxable income. Airfare, train, and/or other transportation expenses should be considered reimbursable expenses.
Vantage Circle
JANUARY 30, 2022
Group life insurance premiums provided to employees over $50,000. Group-term life insurance coverage. Transportation (commuting) benefits. Most taxable benefits are subject to Canada Pension Plan, Employment Insurance, and income tax deductions. Which Benefits Are Considered Taxable? Paid vacation.
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