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What are The Pre-Payroll activities? A detailed overview

Qandle

This may involve collecting timesheets, time clock records, or electronic time tracking data. Benefits and Deductions: Collect information related to employee benefits and deductions, such as health insurance, retirement contributions, flexible spending accounts, loan repayments, or garnishments.

Payroll 98
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Identify Your Workers’ Needs, Consider Costs before Open Enrollment

InterWest Insurance Services

This is especially true if you are making changes to cost-sharing, introducing new plans, or offer voluntary benefits, a wellness plan or health savings account or flexible spending account. You may also invite them to view any electronic material you may post online, like the aforementioned videos.

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2022 Health Insurance Outlook, Changes

InterWest Insurance Services

For health flexible spending accounts (FSAs), allowing participants to enroll mid-year, increase or decrease their annual contribution amount, or pull out of the plan altogether and stop contributing. For 2022, the affordability level will be 9.61% of their household income, down from 9.83% in 2021.

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September HR Update

Higginbotham

Additionally, plan sponsors may use the electronic disclosure standards under Department of Labor (DOL) regulations in order to send the creditable coverage disclosure notices electronically (see our white paper on the DOL’s Electronic Disclosure Safe Harbor Rules). 15, 2023 – i.e. – by October 14.

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Are There Tax Documents for Your Pre-Tax Benefits?

Benefit Resource Inc.

A paper statement fee applies (see your HSA account holder agreement). Avoid this fee by logging into your account through BRIWEB and updating your statement preferences to receive electronic statements. A Flexible Spending Account (FSA) is a great way to save money on your healthcare costs.

Taxes 40
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New California Law Requiring FSA Notices

Benefit Resource Inc.

requiring employers in California to notify employees who participate in a Flexible Spending Account (FSA) of any deadline to withdraw funds, where the deadline is prior to the end of the plan year. Employers must notify affected employees of the deadline to submit claims by two different forms , one which can be electronic.

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Does Your W-2 Look Wrong? It Could Be This…

Stratus.HR

From here, select “Please provide my W2 Electronically.”. For example, if you contributed to a health plan, retirement plan, or had a Health Savings Account (HSA), Health Reimbursement Account (HRA), or a Flexible Spending Account (FSA), those dollars are pre-tax.

Taxes 64