Business Management Daily

SEPTEMBER 9, 2021

FSAs are primarily funded by employees through pretax deductions, although employers may make contributions. Tax advantage: Employees’ and employers’ contributions are excluded from employees’ wages and aren’t subject to income or FICA taxes. Eligibility: FSAs are generally available only to current employees.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Employment Flexible Spending 52

WEX Inc.

JULY 20, 2023

Nearly two-thirds of large employers offer their employees a choice between an HSA-eligible health plan (also known as a high-deductible health plan ) and a traditional health plan. Smaller employers may face challenges in providing these options, although participants have said they are interested in these health plan choices.

Deductions 75

Deductions Deductible Flexible Spending Account Health Savings Account 75

InterWest Insurance Services

FEBRUARY 20, 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. The employer can also contribute to its employees’ HSAs to encourage participation.

Deductions 93

Deductions Deductible Out of Pocket Cost Health Savings Account 93

InterWest Insurance Services

AUGUST 18, 2022

Q: We have an employee who wants to make changes to her cafeteria plan election, even though benefits are already effective. Employers: Don’t make this common cafeteria plan mistake! Employees cannot change their minds during the plan year outside of a special enrollment period authorized under Section 125.

Insurance Carriers 82

Insurance Carriers Taxes Health Insurance Employee Enrollments 82

HR Lineup

MAY 17, 2023

WTW Engage is a cloud-based software solution designed to help organizations manage their employee benefits programs. With its user-friendly interface and powerful tools, WTW Engage streamlines benefits administration and empowers employees to make informed decisions about their benefits.

Employee Enrollments 52

Employee Enrollments Software Employee Benefits Employment 52

HR Digest

APRIL 2, 2024

Unlike traditional benefit accounts such as Flexible Spending Accounts (FSAs) or Health Savings Accounts (HSAs), LSAs are primarily designed to cover a broad range of expenses related to employees’ physical, mental, and financial wellness. HSAs can be funded by both employer and employee.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Medical Flexible Spending 52

InterWest Insurance Services

JANUARY 17, 2023

There are a number of issues that Medicare-eligible workers face that your human resources staff may be asked about, such as: Penalties for late Medicare enrollment, Whether the employer plan is the primary or secondary payer of claims, and. The following are considerations for employers faced with workers nearing 65.

Health Insurance 86

Health Insurance Insurance Health Savings Account Hospitality 86

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. The employer can also contribute to its employees’ HSAs to encourage participation.

Out of Pocket Cost 61

Out of Pocket Cost Deductions Deductible Voluntary Benefits 61

Griffin Benefits

OCTOBER 13, 2022

Earlier this year the IRS announced proposed regulations extending ACA affordability to other tiers of employer-sponsored group medical coverage (employee + child/spouse, family, etc.). Previously, ACA affordability was based solely on the employee-only tier of coverage. EMPLOYERS ARE NOT EXPOSED TO NEW PENALTY RISKS.

Taxes 90

Taxes Employee Enrollments Consulting Medical 90

InterWest Insurance Services

NOVEMBER 10, 2022

One of the most difficult aspects of annual open enrollment is reaching workers who are disengaged from the process and never bother signing up for your group health plan and other benefits they could take advantage of. Young workers will often forgo their employer’s health plan as they are still covered by their parents’ plans.

401(k) 84

401(k) Health Savings Account Health Insurance Insurance 84

AssuredPartners

OCTOBER 13, 2022

Provided specific conditions are met, employees can now on a prospective basis, elect out of family coverage and into self-only coverage (or family coverage including one or more already-covered related individuals) under a health plan mid-plan year. An employer must amend their Sec.

Health Insurance 98

Health Insurance Benefit Providers Flexible Spending Insurance 98

Best Money Moves

SEPTEMBER 9, 2020

Preparing for virtual open enrollment in 2020. How employers can utilize employee data and streamline communications for successful virtual open enrollment. Employers are preparing for virtual open enrollment as many employees continue to work remotely during the COVID-19 pandemic.

Utilities 73

Utilities Benefits Package Employee Enrollments Healthcare 73

Benefit Resource Inc.

OCTOBER 7, 2021

A solid employee benefits package is crucial for recruiting and retention and has become even more important in the current market — Open Enrollment plays a big part in that. Check out our Open Enrollment Checklist, and make sure you’re still on target for a successful start to your new plan year: Laying the Foundation.

Employee Enrollments 74

Employee Enrollments Benefits Package Taxes Education 74

Benefit Resource Inc.

JUNE 1, 2023

” Although rising premium rates are an on-going challenge for employers, a primary (and popular) method to overcome this is to implement a high-deductible health plan (HDHP). Overcoming the Challenge Implement an HDHP with Complementary Accounts A growing number of employers have implemented an HDHP as a choice for employees.

Flexible Spending Account 52

Flexible Spending Account Healthcare Health Savings Account Deductions 52

InterWest Insurance Services

DECEMBER 9, 2021

As we enter 2022, there are a number of changes on the horizon that plan sponsors need to be aware of as they will affect group health plans as well as employees enrolled in those plans. These rules were all not mandatory and employers could choose whether to relax them or not. More guidance coming. 1, 2022.

Health Insurance 90

Health Insurance Insurance Insurance Carriers Deductions 90

Insperity

APRIL 29, 2021

There’s no getting around it – employers pay a hefty sum to provide health care benefits for their employees. The average private-sector employer spends an average of $2.65 per hour, per employee, for health-insurance costs, according to Sept. In 2021, employer expenses for health insurance are expected to rise by 3.9

Employee Benefits 126

Employee Benefits Health Insurance Benefits Package Insurance 126

Total Employee Benefits

DECEMBER 14, 2021

When it comes to a broker, employers should look for someone who keeps them informed about important issues related to their company. Meaning employers will be able to see precisely how and where brokers are making money. What does that mean for you as an employer?

Insurance Carriers 52

Insurance Carriers Health and Welfare Insurance Employee Enrollments 52

Benefit Resource Inc.

AUGUST 13, 2019

The term “high deductible health plan” has often carried with it a negative connotation for employees. According to a recent article from SHRM covering research from the Employees Benefit Research Institute (EBRI), enrollment in an HDHP promotes more conscious health care purchase decisions.

Deductions 45

Deductions Deductible Health Savings Account Employee Enrollments 45

Benefit Resource Inc.

APRIL 1, 2020

Money savvy employees enrolled in these accounts are probably aware that one of the benefits of the account (apart from the tax savings) is the ability to make election changes throughout the year. While some employers may restrict how often election changes can take place, there is still a good degree of flexibility.

Taxes 75

Taxes Employee Enrollments Medical Employment 75

Business Management Daily

SEPTEMBER 3, 2021

The pandemic has given employers a lot to think about. While many companies may be ready to move quickly back to a fully on-site workforce, and others are exploring hybrid or fully remote options, employees have their own expectations and are willing to look for a new position if they aren’t met. Almost three-fourths of U.S.

Payroll 90

Payroll Work From Home PTO Software 90

HR Professionals Magazine

APRIL 4, 2022

Many employers’ tech stacks consist of disparate systems for payroll/HRIS and benefits administration (ben admin). That fee can vary based on many factors and may come in the form of a one-time “setup charge”, a PEPM (per employee per month) or a flat, recurring monthly fee. By Kisha Moliere.

Payroll 52

Payroll Payroll System Deductions Deductible 52

Business Management Daily

NOVEMBER 15, 2021

Open enrollment is underway for many companies right now and one benefits offering that may be on the menu this year is an FSA. Employers are constantly looking for ways to remain competitive in their benefits offerings, and an FSA is a great add-on to your benefits package. Employers can choose one, but not both of these options.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Medical Healthcare 98

HR Professionals Magazine

MAY 4, 2023

By Kisha Moliere It is common to think of benefits administration technology (ben admin) platforms as a tool that only facilitates employee benefits enrollment and transfers benefits eligibility data between carrier and payroll systems. Be mindful that not all decision support tools are created equal.

Technology 52

Technology Utilities Payroll Deductions 52

Abel HR

JANUARY 21, 2021

As Santa was busy making a list and checking it twice, so too was the Equal Employment Opportunity Commission (EEOC), which was busy developing a naughty list of its own; on it, surprisingly, was employer-sponsored wellness programs!

Employee Wellness 52

Employee Wellness Health Insurance Medical Commissions 52

Flimp Communications

JULY 24, 2020

But thanks to new technology and products building on video communications, employees are getting more information about their benefit options faster. Employee benefits used to be structured with one thing in mind: saving the company money. Benefits remain an area where cost is a concern for both employers and workers.

Benefits Package 53

Benefits Package Retirement Plan Healthcare Health Insurance 53

Benefit Resource Inc.

NOVEMBER 22, 2019

But it was only days ago, November 14, 2019 to be exact, that employers became at risk to pay penalties. Under the Sustainable DC Act of 2014, employers with more than 20 employees (including full and part-time employees) will be required to provide one of three commuter benefit options, including: Employee-paid pre-tax benefit.

Transportation 40

Transportation Benefits Package Employee Enrollments Utilities 40

Higginbotham

JULY 12, 2022

In the simplest terms, a medical expense reimbursement plan refunds employees for covered medical costs. For example: In an individual coverage health reimbursement arrangement, the health reimbursement arrangement is offered in place of a group health plan, allowing employees to purchase a health plan on their own.

Out of Pocket Cost 52

Out of Pocket Cost Flexible Spending Account Medical Deductions 52

HR Digest

DECEMBER 17, 2019

This agreement takes place when the new employee joins the company and gives his consent to the compensation letter wherein the declaration about the remuneration and benefits associated with the job positions are clearly stated. The benefits will be equitably offered to all the employees.

Paid Vacation 64

Paid Vacation Overtime Health Insurance Insurance 64

Stratus.HR

OCTOBER 18, 2022

Forecast what they will pay throughout the year with employees coming and going . With finalized SPDs, it is time to prepare benefit guides for employees. Answering employee questions about open enrollment: 1-3 hours . Following-up with outstanding employee enrollments: 1-2 hours .

Flexible Spending 52

Flexible Spending Flexible Spending Account Health Savings Account Healthcare 52

Benefit Resource Inc.

DECEMBER 10, 2021

However, it highlights the need to use multiple communication channels – especially when it comes to Open Enrollment. However, it highlights the need to use multiple communication channels – especially when it comes to Open Enrollment. Most employers have access to these communication methods already, so there’s no additional cost.

Payroll 40

Payroll Employee Enrollments Deductions Deductible 40

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. The card is issued by the benefits provider that the employer has chosen to work with for the FSA.

Retail 52

Retail Healthcare Medical Flexible Spending Account 52

Benefit Resource Inc.

JUNE 11, 2020

Many have started the process of commuting after COVID-19, leaving employees and employers alike wondering how the transition will unfold. Only available to individuals enrolled in a tax free parking account with BRI. ** Only available to employees enrolled in a tax free mass transit or parking account with BRI.

Employee Enrollments 40

Employee Enrollments Taxes Employment IT 40

Abel HR

MARCH 5, 2020

In an effort to make 401(K) plans more attainable for small business owners, the new legislation offers businesses with up to 100 employees a tax credit equating to $250 for each non-highly compensated employee eligible for plan participation or $5,000, whichever is less. Don’t have a 401(K) plan but think it’s time to set one up?

401(k) 52

401(k) Taxes Retirement Plan Employee Enrollments 52

Flimp Communications

NOVEMBER 7, 2019

Many organizations learn the hard way that the only way to implement some employee communications programs, particularly those involving new technology , is to undergo a top-to-bottom digital transformation. To do that effectively, employers need quality change management initiatives that avoid some common pitfalls. The Common Factor?

Management 47

Management Health Insurance Employee Enrollments Construction 47

Proskauer's Employee Benefits & Executive Compensa

JANUARY 6, 2022

The proposed regulations would now make permanent and automatic the 30-day extension for Forms 1095-B and 1095-C – employers and insurance providers would not be required to demonstrate good cause. Thus, ALEs will still have to furnish the applicable forms to full-time employees in the traditional manner.

Electronics 52

Electronics Insurance Employee Enrollments Taxes 52

Flimp Communications

SEPTEMBER 26, 2019

As technology continues to transform open enrollment, employees need a different kind of help when searching for the best healthcare choices for them and their families. Happy employees enrolled in optimal benefits packages save money and boost engagement. Making Employee Training Videos Easy. That’s onboarding.

Benefits Package 43

Benefits Package Education Employee Enrollments Technology 43

Benefit Resource Inc.

APRIL 18, 2019

We will cover two main topics: When someone enrolled in COBRA becomes eligible for Medicare. Again, the second person is the covered employee’s spouse (who is a dependent). Typically, when a covered employee enrolls in COBRA, they and their dependent receive 18 months of benefits through COBRA.

Health 82

Health Medical Employee Enrollments Employment 82