AssuredPartners

FEBRUARY 14, 2023

Having a comprehensive understanding of a target company’s employee benefits offering helps private equity firms make more informed decisions across the business post-close. Identifying risk is crucial in the due diligence process, and employee benefits present companies with significant financial and regulatory risk.

Employee Benefits 59

Employee Benefits Health and Welfare Employee Enrollments Healthcare 59

Benefit Resource Inc.

JUNE 1, 2023

Employees can use two tax-advantaged accounts to cover many primary eligible expenses. If employees enroll in a Limited FSA they have the option to forgo enrolling in vision or dental insurance, avoiding the need to pay those premiums. You also still receive a tax write off.

Flexible Spending Account 52

Flexible Spending Account Healthcare Health Savings Account Deductions 52

InterWest Insurance Services

JANUARY 17, 2023

If you plan to discontinue coverage for employees who are turning 65, you should communicate with them well ahead of the time they need to sign up for Medicare. How it works: Let’s say your employee has foot surgery: Medicare pays first up to the limits of its coverage. Discontinuing group health coverage.

Health Insurance 97

Health Insurance Insurance Health Savings Account Hospitality 97

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. Childbirth is expensive and newborns require numerous doctor’s visits and vaccinations in their first year and beyond.

401(k) 97

401(k) Health Savings Account Health Insurance Insurance 97

Benefit Resource Inc.

APRIL 1, 2020

This includes employees’ work benefits, particularly pre-tax accounts. For employees with an HSA, Dependent Care FSA, and/or commuter plan, there may be the opportunity to make changes to their accounts. Here are the main updates employees should know about. Especially compared to other pre-tax accounts, like FSAs.

Taxes 75

Taxes Employee Enrollments Medical Employment 75

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. It should be noted that the provisions of this Notice are optional.

Health Insurance 98

Health Insurance Benefit Providers Flexible Spending Insurance 98

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. Some of the changes concern temporary rules that were implemented during the COVID-19 pandemic. That’s a change from the prior threshold of 250.

Health Insurance 98

Health Insurance Insurance Insurance Carriers Deductions 98

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

Higginbotham

JULY 12, 2022

In the simplest terms, a medical expense reimbursement plan refunds employees for covered medical costs. Both the employee and the employer may contribute, but funds expire if they are not used within a certain period of time. The Tax Benefits of Health Reimbursement Arrangements. Manage enrollment.

Out of Pocket Cost 52

Out of Pocket Cost Flexible Spending Account Medical Deductions 52

Benefit Resource Inc.

JUNE 11, 2020

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. For those who are commuting after COVID-19, this may pose a problem. So what can someone commuting after COVID-19 do?

Employee Enrollments 40

Employee Enrollments Taxes Employment IT 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 patient does not have to be the employee. Health care provider’s name. Dependent care FSA receipt requirements.

Retail 52

Retail Healthcare Medical Flexible Spending Account 52

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. Creating a full wrap document to comply with ERISA (Employee Retirement Income Security Act): 1 hour if digital . Benefits Renewal Process . Cafeteria Plan) .

Flexible Spending 52

Flexible Spending Flexible Spending Account Health Savings Account Healthcare 52

Business Management Daily

NOVEMBER 15, 2021

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. The maximum that an employee may contribute to a healthcare FSA is $2,750. Healthcare FSA.

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

Business Management Daily

SEPTEMBER 3, 2021

Most HRIS systems deal with tracking time and labor management (including PTO and attendance), payroll /taxes, benefits administration (and selections), employee demographic information, applicant tracking, onboarding, performance management , and more. Your employees’ expenses vary greatly depending on where they are located.

Payroll 90

Payroll Work From Home PTO Software 90

Corporate Synergies

AUGUST 6, 2018

High deductible health plans (HDHPs) are on the rise as a growing number of employers turn to consumer-directed health plans to try to curb costs—the portion of employees enrolled in HDHPs rose from 26.3% In addition, employers can contribute tax-free dollars if they choose—all of which is employee money. LEARN MORE.

401(k) 40

401(k) Health Savings Account Retirement Plan Deductions 40

Benefit Resource Inc.

NOVEMBER 22, 2019

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. Explain how to enroll. The time has arrived. For what you say? Why penalties of course!

Transportation 40

Transportation Benefits Package Employee Enrollments Utilities 40

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. Recruitment -> Employee Retention. Likely, it means having to learn to do more with less.

Payroll 40

Payroll Employee Enrollments Deductions Deductible 40

Proskauer's Employee Benefits & Executive Compensa

JANUARY 6, 2022

This relief applies to ALEs, insurers and multiemployer plans as follows: For ALEs : applies to the requirement to provide Forms 1095-C (and/or Forms 1095-B if the coverage is self-insured), but only with respect to non-full-time employees and non-employees enrolled in the self-insured plan.

Electronics 52

Electronics Insurance Employee Enrollments Taxes 52

Winston Benefits

MAY 15, 2018

However, the benefits enrollment process can be tedious for HR, and both tedious and confusing for employees. Benefits enrollment technology can streamline this process, making it more efficient and less cumbersome for everyone. What do you need to know about benefits enrollment technology to make the right choice?

Technology 45

Technology Employee Enrollments Deductions Deductible 45

Business Management Daily

SEPTEMBER 27, 2019

An ounce of prevention may be worth a pound of cure, but up until this point, high-deductible health plans have been boxed in regarding tax-free reimbursements for most preventive care services or items. Reason: With certain exceptions, HDHPs can’t start reimbursing employees until they meet those high deductibles.

Health Savings Account 40

Health Savings Account Deductions Deductible Flexible Spending Account 40

Hppy

AUGUST 19, 2016

From small scale managers to established entrepreneurs, everyone is looking for better business prospects and educating employees in the workspace is an effective and time-saving technique to achieve it. Tax benefits and other perks. Offer subsidies in fees, or tuition incentives to encourage employees. How to go about it?

Education 47

Education Employee Enrollments Finance Taxes 47

WEX Inc.

JULY 20, 2023

More dental and vision Among employers with benefits administration through WEX , 68% of eligible employees enrolled in vision and 77% of eligible employees enrolled in dental. However, not all employees are offered these benefits. It is not legal, financial, or tax advice.

Deductions 75

Deductions Deductible Flexible Spending Account Health Savings Account 75

AssuredPartners

JUNE 5, 2018

While many employers now offer consumer-driven plans, uptake by employees isn’t phenomenal with only around a third of eligible employees enrolled in a CDHP.nSo what’s going wrong?nn"},{"attributes":{"bold":true},"insert":"Barriers Preventable, expensive visits to the emergency room, which are bad for everybody.

Healthcare 40

Healthcare Deductions Deductible Insurance 40

HR Lineup

FEBRUARY 9, 2023

The platform streamlines HR processes and benefits administration by offering a single, centralized platform for employees to access and manage their benefits, from health insurance and retirement plans to time-off tracking and more. One of the key benefits of GoCo is its ease of use.

Flexible Spending Account 52

Flexible Spending Account Comprehensive Benefits Retirement Plan Flexible Spending 52

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

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. Like this blog?

Deductions 45

Deductions Deductible Health Savings Account Employee Enrollments 45

PeopleStrategy

NOVEMBER 12, 2019

Throw open enrollment into the mix and your HR department has its work cut out from now until year-end (and beyond). Here are a few areas you want to be sure to include on your checklist: Addressing open enrollment and benefit plan participation. I-9s and employee authorization. According to attorney Robert Y.

Overtime 56

Overtime Payroll Employee Enrollments Deductions 56

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. This bill has you covered!

401(k) 52

401(k) Taxes Retirement Plan Employee Enrollments 52