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4 HDHP trends you don't want to miss

WEX Inc.

PPO deductible Nearly two-thirds of large employers provide their employees with the choice of an HDHP and a traditional health plan , such as a preferred provider organization (PPO). Typically, an employee enrolled in a PPO will have higher premiums and a lower deductible than an employee enrolled in an HDHP.

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HR Professionals… What’s Your Problem?

Benefit Resource Inc.

One of the “mountains” you may be facing is combating rising healthcare costs. The Challenge Rising healthcare costs are one of the main concerns for Americans. By offering an HSA with a Limited FSA, you help reduce healthcare costs. You also still receive a tax write off. How can we help you?

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Why is Employee Benefits Due Diligence Useful?

AssuredPartners

A company’s employee benefits (EB) plan offers insight into its position in the talent market, its culture, its employees’ sensitivity to change, and management sophistication. EB due diligence also offers deal teams value by identifying post-close synergy opportunities like group purchasing and claims funding optimization.

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FSA eligible expenses — what purchases count?

Business Management Daily

Flexible Spending Accounts allow employees to set aside pre-tax dollars from their paycheck to use for medical or dependent care expenses. These funds are placed in an FSA account that employees can use to pay for eligible expenses. Healthcare FSA. The most commonly used FSA is the healthcare FSA. Healthcare FSAs.

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FSA receipt requirements: What you need to document

Business Management Daily

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. Reimbursement for FSA expenses from an employee’s personal accounts is typically provided through direct deposit.

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Additional Cafeteria Plan Changes in Effect January 1, 2023: IRS Notice 2022-41 and Family Coverage Affordability

AssuredPartners

The Department of the Treasury and the IRS have been instructed to modify the Income Tax Regulations under Sec. Employers are subject to the shared responsibility penalty if these additional conditions are met: 1) An employee has not been offered affordable self-only coverage (or hasn’t been offered coverage at all); AND.

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Estimated Time on HR: Procuring Benefit Plans and Open Enrollment Administration Tasks

Stratus.HR

Creating a full wrap document to comply with ERISA (Employee Retirement Income Security Act): 1 hour if digital . Answering employee questions about open enrollment: 1-3 hours . Following-up with outstanding employee enrollments: 1-2 hours . Summary of Open Enrollment Administration Tasks .