WEX Inc.

FEBRUARY 15, 2023

Did you recently elect to participate in a medical flexible spending account (FSA) ? What is a medical flexible spending account (FSA)? A medical FSA is a tax-advantaged employee benefit that gives participants the opportunity to save on out-of-pocket medical, dental, and vision eligible expenses.

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Medical Flexible Spending Account Flexible Spending Taxes 98

Proskauer's Employee Benefits & Executive Compensa

NOVEMBER 20, 2023

On November 9th, the IRS announced additional inflation adjustments for 2024, including to the annual contribution and carryover limits for healthcare flexible spending accounts and the monthly limit for qualified transportation fringe benefits. The new limits are set forth below.

Transportation 59

Transportation Flexible Spending Account Flexible Spending Retirement Plan 59

Best Money Moves

JULY 8, 2020

Top 10 employee benefits for 2021. HR trends forecast the most desired employee benefits for 2021 like financial wellness programs and flexible work arrangements. It’s time for employers to start planning their employee benefits packages for 2021. Top 10 Employee Benefits for 2021. #1

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WEX Inc.

JANUARY 4, 2023

And election of COBRA can affect your ability to use the reimbursement accounts in which you were participating prior to your COBRA eligibility. In this blog post, we outline some of the ways your ability to use your employee benefits changes when you elect COBRA. Your HSA funds can be used to pay for COBRA premiums.

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Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

HR Lineup

MAY 9, 2023

Pazcare is an innovative healthcare company that provides a comprehensive suite of digital healthcare solutions. The platform is designed to help medical professionals and patients manage healthcare needs more efficiently, utilizing technology to improve the overall healthcare experience.

401(k) 52

401(k) Flexible Spending Account Health Insurance PTO 52

Benefit Resource Inc.

NOVEMBER 22, 2022

But before you sit down to enjoy your well-deserved feast, we wanted to take a moment to remind you of all the things you have to be thankful for at work – namely, your employee benefits! Here are 5 reasons to give thanks for employee benefits this Thanksgiving. Pre-tax benefits save you money.

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Employee Benefits Flexible Spending Account Flexible Spending Health Savings Account 52

WEX Inc.

AUGUST 15, 2023

Whether you're transitioning from your parents' insurance, landed your first full-time job, or are simply obtaining coverage for the first time, choosing health plans and employee benefits options can be overwhelming. However, your eligibility for either account can be influenced by the health plan you choose.

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WEX Inc.

SEPTEMBER 7, 2023

Most employees are about to have the opportunity to re-evaluate their benefits options during open enrollment. Flexible spending accounts (FSAs) are a powerful tool for individuals and employers to save money on healthcare and dependent care expenses.

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Flexible Spending Account Take Home Pay Flexible Spending Healthcare 98

WEX Inc.

SEPTEMBER 14, 2023

It’s your best chance to evaluate your healthcare needs and identify opportunities to better support yourself and your family. However, a whopping 92 percent of employees stick with the same elections they had the previous year, no matter what changes have taken place in their lives. Open enrollment comes just once a year.

401(k) 98

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

Employee Benefits

OCTOBER 19, 2023

.” Cummins also offers its employees a pension scheme, medical, dental and life Insurance, a profit share scheme, healthcare benefits, parental leave, adoption assistance, flexible-working arrangements, a flexible spending account and an employee share purchase scheme.

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Flexible Spending Account Parental Leave Flexible Spending Life Insurance 59

Genesis HR Solutions

SEPTEMBER 22, 2020

At the end of this article, we’ll explain how a professional employer organization (PEO) can help you select, negotiate, and administer best possible benefits for your company. 16+ types of employee benefits you should consider. Flexible Spending Account (FSA). Documenting employee benefit elections.

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WEX Inc.

JULY 7, 2023

The IRS’ use-or-lose rule governs flexible spending accounts (FSAs). This rule is one of the big differentiators between FSAs and other types of employee benefits. These are designed to help participants save money on eligible out-of-pocket healthcare or childcare costs by reducing their taxable income.

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Flexible Spending Account Flexible Spending Health Savings Account IT 52

Proskauer's Employee Benefits & Executive Compensa

OCTOBER 21, 2022

On October 18th, the IRS announced a slew of inflation adjustments for 2023, including to the annual contribution and carryover limits for healthcare flexible spending accounts and the monthly limit for qualified transportation fringe benefits. The new limits are set forth below.

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Transportation Flexible Spending Account Flexible Spending Health Savings Account 52

CorpStrat

FEBRUARY 22, 2023

One of the biggest financial challenges people in the US are facing is whether or not they’re able to afford healthcare. Healthcare costs have risen faster than inflation. In 2023, having some money set aside to cover these out-of-pocket costs is critical for most employees. It’s no wonder that they’re struggling.

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Flexible Spending Account Out of Pocket Cost Flexible Spending Deductions 52

Best Money Moves

APRIL 30, 2019

4 big employee benefits trends for family planning. What you need to know about family-friendly employee benefits like fertility services, paid maternity leave and childcare assistance. I expect we’ll see family-friendly benefits continue to grow as part of the larger trend of expanding work-life balance policies.’”.

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Best Money Moves

OCTOBER 13, 2023

In addition to cultivating a better work environment, according to the same Zippia study, 72% of employers saw a reduction in their healthcare costs after implementing these programs. Fitness classes and health education Encouraging your employees to exercise can positively impact both their physical and mental health.

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WEX Inc.

AUGUST 29, 2023

Reasons can vary, which is why wide-ranging fertility benefits can also improve the lives of any adult wanting to start a family. And did you know that a variety of fertility and infertility treatments are eligible for health savings account (HSA) and medical flexible spending account (FSA) funds?

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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

FEBRUARY 23, 2023

And just because you have an entire plan year ahead doesn’t mean you should wait until November or December to put time and energy into your employee benefits. In fact, staying on top of your health savings account (HSA) , flexible spending account (FSA) , or any other plan you signed up for throughout the year can pay off for you.

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WEX Inc.

AUGUST 10, 2023

You might be surprised to learn that your health savings account (HSA) and medical flexible spending account (FSA) can help you save on purchases of a variety of back-to-school, expenses, including: Thermometers. Are you preparing to send your kids back to school soon?

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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

SEPTEMBER 21, 2023

However, for participants of health savings accounts (HSAs) or medical flexible spending accounts (FSAs) , there are ways to alleviate the financial burden associated with vision-related costs. Visual health is a vital component of overall well-being, and unexpected eye-related expenses can put a strain on your finances.

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Benefit Resource Inc.

MAY 2, 2023

Significant areas of focus are healthcare costs and pre-tax benefits. Offering pre-tax benefits First, if employee benefits aren’t already offered, employers can help alleviate the financial burden of healthcare costs for their employees by providing pre-tax benefits.

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AssuredPartners

FEBRUARY 12, 2023

Communication is where the rubber hits the road for your employee benefit offerings! The messages sent to employees are a spark meant to ignite action, so make sure the desired actions are clear. If you don’t know what you’re asking employees to do, neither will they.

401(k) 52

401(k) Flexible Spending Account Flexible Spending Healthcare 52

WEX Inc.

JANUARY 3, 2023

To kick off another year of providing you with the employee benefits tips and information you need, we wanted to look back at your favorite blog posts from the last year. Fortunately, your health savings account (HSA) is an employee-owned account, so it stays with you, even when you switch employers.

Education 52

Education Flexible Spending Account Health Savings Account Flexible Spending 52

WEX Inc.

AUGUST 14, 2023

A flexible spending account (FSA) carryover is one way you can provide flexibility to employees who participate in these accounts. Yes, employers do have the option of providing employees with an FSA carryover. We break down FSA carryovers below. Can FSA funds carry over to next year?

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Flexible Spending Account IT Flexible Spending Taxes 98

WEX Inc.

APRIL 24, 2023

Pre-tax benefits savings Premiums aren’t the only way you can save on healthcare costs. Pre-tax employee benefits plans, such as health savings accounts (HSAs) and flexible spending accounts (FSAs) , let you save money by putting aside pre-tax dollars to pay for eligible medical, dental, vision and other expenses.

401(k) 52

401(k) Health Savings Account Deductions Deductible 52

Higginbotham

JUNE 14, 2022

Rising healthcare costs have led to innovative new ways of managing expenses. Flexible Spending Accounts (FSAs) have emerged as one solution. FSA programs can be a good fit for many employee health benefit programs, but before being able to decide, you may have some questions – for example, how do FSAs work?

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Flexible Spending Account Health Savings Account Deductions Deductible 52

WEX Inc.

MAY 4, 2023

The IRS requires your flexible spending account (FSA) participants to submit documentation to prove their purchase was an eligible expense.

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Flexible Spending Account Flexible Spending Taxes Medical 98

Griffin Benefits

MARCH 16, 2022

For instance, many benefits plans have employee assistance programs (EAPs) with financial wellness resources that cover legal services and caregiving services that can help alleviate financial stress. Review what services are already offered and build a strategy to increase employee engagement with them. ??

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Flexible Spending Account Retirement Plan Health Savings Account Voluntary Benefits 86

Stratus.HR

OCTOBER 18, 2022

Overall, some employers report an average of 8 hours managing benefits enrollments , with 37% saying benefits administration involves “moderate to heavy paperwork.” . Administering a Flexible Spending Account (i.e., Cafeteria Plan) . Summary of Open Enrollment Administration Tasks . contact-form-7].

Flexible Spending 52

Flexible Spending Flexible Spending Account Health Savings Account Healthcare 52

CorpStrat

OCTOBER 26, 2022

Many employees are currently feeling financially strained because of the impacts of inflation. The cost of everything has gone up in their lives — from the price of a chicken breast to a gallon of gas to healthcare. Inflation has placed Employee Benefits at the forefront of many employers’ attraction and retention strategies.

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Benefit Resource Inc.

NOVEMBER 19, 2019

According to Wikipedia: “A cafeteria plan is an employee benefit plan offered in the United States pursuant to Section 125 of the Internal Revenue Code”. Flex Account. One of the most common cafeteria plans is a flex account, or flexible spending account (FSA). Dependent Care Account.

Flexible Spending Account 40

Flexible Spending Account Flexible Spending Taxes Take Home Pay 40

WEX Inc.

APRIL 12, 2023

Health saving accounts (HSAs) offer an excellent opportunity for participants to save money on healthcare expenses and for employers to support their employees’ wellness needs in a cost-efficient way. But there are HSA rules and regulations you and your employees need to follow in order to stay compliant.

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Health Savings Account Deductions Deductible Flexible Spending Account 52

Benefit Resource Inc.

NOVEMBER 19, 2019

According to Wikipedia: “A cafeteria plan is an employee benefit plan offered in the United States pursuant to Section 125 of the Internal Revenue Code” Are you asleep yet? Flex Account. One of the most common cafeteria plans is a flex account, or flexible spending account (FSA).

Flexible Spending Account 40

Flexible Spending Account Flexible Spending Taxes Take Home Pay 40

Business Management Daily

SEPTEMBER 22, 2021

Employees get to select a new plan for their health insurance and opt into other employee benefits for the next year. Allow enough time for employees to evaluate their options, as most employees will need to discuss benefits such as healthcare, 401Ks, and FSAs with their families. Conduct a Survey.

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Business Management Daily

SEPTEMBER 15, 2021

Offering an attractive employee benefits package helps lure top talent and encourages the retention of your best team members. Presenting a good employee benefits package often gives one employer an edge over another, especially in cases where basic salaries are relatively equal. There’s no one-size-fits-all answer.

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Business Management Daily

NOVEMBER 30, 2021

Flexible spending accounts (FSAs) are employer-established accounts that allow you to put aside pre-tax dollars from your paycheck into a special account to be used for eligible health or dependent care expenses. This means that employees do not have to wait to use their health FSA funds. Date of service.

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WEX Inc.

MARCH 20, 2023

When things change at lightspeed, it is imperative to have team members who understand what you need to do to stay in compliance, but also develop a detailed plan to execute, predict and account for downstream impacts. Do our employees understand and value their benefits?

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