Benefit Resource Inc.

APRIL 10, 2024

What is a Dependent Care Flexible Spending Account (DCFSA)? First things first, let’s clarify what a dependent care flexible spending account actually is.

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Taxes Utilities 52

WEX Inc.

OCTOBER 4, 2023

Participating in a health savings account (HSA) or flexible spending account (FSA) is a great way to save money. Health savings account An HSA is an individually owned benefits plan funded by you or your employer that lets you save on purchases of eligible expenses. Your employer owns your FSA.

401(k) 98

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

Benefit Resource Inc.

MAY 2, 2023

As a result, many employers are in hyper-vigilance mode, anticipating the next recession and bracing themselves for a potentially difficult ride. In this climate, employers are considering a range of strategies to mitigate their financial risks in anticipation of a possible recession.

Employment 52

Employment Flexible Spending Account Benefits Package Healthcare 52

Benefit Resource Inc.

MARCH 28, 2024

From flexible spending accounts (FSAs) to health savings accounts (HSAs) and commuter benefits, these options offer significant advantages if managed wisely. Know Your Pre-Tax Benefit Options Flexible spending accounts (FSAs): An FSA allows you to set aside pre-tax dollars for eligible healthcare expenses.

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Flexible Spending Account 401(k) Health Savings Account Flexible Spending 52

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)? They are employer-owned accounts. How a medical FSA works After you’ve enrolled in a medical FSA through your employer, you then chose how much to contribute to your FSA.

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PeopleKeep

FEBRUARY 8, 2023

Many employers are familiar with account-based benefits like health savings accounts (HSAs), flexible spending accounts (FSAs), and health reimbursement arrangements (HRAs). But some may not be as familiar with lifestyle spending accounts (LSAs), which are a relatively new benefit type.

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Business Management Daily

SEPTEMBER 22, 2021

Some employers start as early as September. Most employees elect coverage through their employer, but some may be eligible for marketplace coverage as well. Most employers have an open enrollment period of at least 2 to 4 weeks. The post Open enrollment checklist for employers appeared first on Business Management Daily.

Employment 90

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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. Because of an FSA’s tax advantages, the IRS requires employers and employees to prove that FSA funds are only being spent on eligible expenses. Why is substantiation required?

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Benefit Resource Inc.

NOVEMBER 15, 2023

In the dynamic landscape of the modern workforce, employers and HR professionals are faced with the challenge of not only attracting top talent but also ensuring the well-being of their existing employees. Employers can underscore the flexibility of FSAs and encourage employees to maximize their contributions for optimal financial advantage.

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Griffin Benefits

OCTOBER 1, 2022

Among the various transparency rules contained within the Consolidated Appropriations Act is a requirement for employers to provide certain plan information about prescription drugs. Additionally, account-based plans, like health reimbursement arrangements (HRAs) and health care flexible spending accounts (FSAs), are not required to report.

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WEX Inc.

JULY 9, 2023

A dependent care flexible spending account lets participants set aside pre-tax dollars to help pay for dependent care. To be eligible for this type of FSA when offered through your employer, you and your spouse (if applicable) must be employed, or your spouse must be a full-time student or looking for work.

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PeopleKeep

MAY 20, 2021

As healthcare costs continue to rise , small employers need a way to offer their employees a competitive health benefit to compete with larger organizations while still managing a limited budget. In fact, Willis Towers Watson’s Best Practices in Health Care survey reports 84% of employers offered an ABHP in 2019.

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WEX Inc.

JULY 7, 2023

The IRS’ use-or-lose rule governs flexible spending accounts (FSAs). A flexible spending account (FSA) is an employer-sponsored benefit that allows employees to set aside a portion of their pre-tax salary to pay for qualified medical expenses or dependent care expenses. So what is the use-or-lose rule?

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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. In general, an FSA carryover applies to only medical FSAs. We break down FSA carryovers below.

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PeopleKeep

AUGUST 16, 2021

If your employer offers a health reimbursement arrangement (HRA), then you have access to a unique health benefit that empowers you to make your own healthcare choices in ways a traditional group health insurance plan doesn’t.

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Benefit Resource Inc.

NOVEMBER 6, 2023

As employers and HR professionals, it’s essential to take proactive measures to boost employee morale during this time. Boosting Employee Morale Maintaining employee morale during the winter months is a critical concern for employers and HR professionals.

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Benefit Resource Inc.

DECEMBER 16, 2022

If you have a Flexible Spending Account (FSA), you’re down to the wire on spending time for the year. By virtue of being a “use-it-or-lose-it” account, unused FSA funds run the risk of being forfeited* by you and collected by your employer. Your employer may offer a rollover or Extended Grace Period.

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Flexible Spending Account Flexible Spending Medical Food 75

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.

Health 98

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Benefit Resource Inc.

APRIL 18, 2023

One such way is by utilizing health savings accounts (HSAs) and flexible spending accounts (FSAs). Health Savings Accounts allow employees (and employers) to contribute to a tax-free account to be used for eligible medical expenses. Employers can opt to permit up to $500 to roll from one plan year to the next.

Medical 52

Medical Flexible Spending Account Health Savings Account Flexible Spending 52

Benefit Resource Inc.

FEBRUARY 28, 2023

When it comes to managing the health and well-being of employees, employers must understand what’s best for both their organization and individuals. BRI’s Vice President of Strategy, Becky Seefeldt , explains the differences between HSAs and FSAs and what’s critical when it comes to HR and employer decisions.

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Insperity

AUGUST 25, 2020

What can you do to stand out during unpredictable times and show that you’re an employer of choice – and will continue to be one, come what may? What’s an employer of choice? When you’re an employer of choice, you’re an organization that people have a strong desire to work for. What being an employer of choice looks like.

Employment 95

Employment PTO Flexible Spending Account Health Savings Account 95

InterWest Insurance Services

MARCH 22, 2022

Employers fund these flexible benefit plans with funds that are deducted from their employees’ salaries on a pre-tax basis. Flexible spending account. Section 125 plans offer a number of tax-saving benefits for employers. Flexible spending accounts.

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Flexible Spending Account 401(k) Flexible Spending Deductions 95

Benefit Resource Inc.

MAY 11, 2021

We think it’s pretty obvious, but we LOVE Flexible Spending Accounts (FSAs). Whether you’re an employer or a plan participant, we have the resources you need to succeed. Throughout the year we deliberately write about helping employees understand the plans that their employers have selected for them. March 15th.

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WEX Inc.

AUGUST 2, 2023

A flexible spending account (FSA) allows participants to save money by setting aside pre-tax dollars to pay for eligible medical, dental , vision and dependent care expenses incurred by you, your spouse, or your eligible dependents. FSAs are an employer-owned account , and the IRS sets limits on annual FSA contributions.

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WEX Inc.

AUGUST 7, 2023

Sunscreen can cost as much as $40 a bottle, but did you know you can actually use your health savings account (HSA) or medical flexible spending account (FSA) funds on many SPF-related expenses? Sunscreen There’s a good chance you’re planning on spending some time in the sun over the next few months. How’s your sunscreen stock?

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Benefit Resource Inc.

APRIL 20, 2023

While dusting, vacuuming, and packing away winter clothes may be on the top of your spring cleaning list, have you considered reviewing your eligible expenses and utilizing your Flexible Spending Account (FSA)? While doing your spring cleaning, don’t forget to look at your FSA.

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WEX Inc.

AUGUST 29, 2023

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? Reasons can vary, which is why wide-ranging fertility benefits can also improve the lives of any adult wanting to start a family. What are fertility benefits?

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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

Benefit Resource Inc.

JULY 31, 2023

Amidst the excitement, many may not know that their Flexible Spending Account (FSA) can be a valuable resource for purchasing back-to-school items. An FSA is a pre-tax benefit account offered by many employers as part of their benefits package. What is an FSA?

Utilities 52

Utilities Flexible Spending Account Flexible Spending Medical 52

Benefit Resource Inc.

FEBRUARY 13, 2024

Congratulations on enrolling in a Flexible Spending Account (FSA)! Meeting employer-set deadlines for service provision and expense submission is essential for reimbursement. Let’s explore these questions and discover where to find the necessary information. When did the service take place? How much is the service/item?

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Flexible Spending Account Flexible Spending Medical Insurance 52

Benefit Resource Inc.

AUGUST 25, 2023

This is understandable given that flexible spending accounts have been available longer and are likely shaping people’s opinions regarding HSAs. An employer may limit changes to once per month for administrative purposes. Impact to HSA election : Follow your employer’s process to enroll in the HSA.

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Flexible Spending Account Health Savings Account Flexible Spending Medical 52

Patriot Software

OCTOBER 19, 2022

Many employers use flexible spending accounts (FSAs) to help employees pay for their medical-related expenses. Years ago, the “use it or lose it” rule was the main guideline for how employees could spend their money. Under this rule, employees forfeit any leftover money to you at the end of their plan year.

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Flexible Spending Account IT Flexible Spending Medical 72

WEX Inc.

MAY 24, 2023

Often, employees feel confused about their benefits plans options, especially if their employer is using “complicated HR jargon” in their benefits messaging. Let’s explore tips on how employers can effectively communicate benefits messaging to employees in a way that’s relatable and easy to understand.

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Winston Benefits

JULY 5, 2017

These low-premium, high-deductible health insurance plans can help control employer costs and put more control in the hands of employees. They are often paired with Health Savings Accounts (HSAs) or flexible spending arrangements that employers contribute to.

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Health Savings Account Employment Flexible Spending Health Insurance 56

WEX Inc.

SEPTEMBER 7, 2023

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

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Money Talk

MAY 18, 2022

Ramp Up Retirement Savings - Consider increasing retirement savings in a tax-deferred employer retirement savings plan (e.g., Plan for IRMAA- Older adults on Medicare should project their 2022 income as best they can, although it is difficult to know now what taxable mutual fund distributions or self-employment earnings might be.

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Taxes 401(k) Deductions Deductible 262

WEX Inc.

SEPTEMBER 14, 2023

Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans. This is your best opportunity to discuss available plans with your employer and learn what has changed from the previous year. Engage in opportunities to learn more about available plans.

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

Benefit Resource Inc.

JANUARY 3, 2023

With a Flexible Spending Account (FSA), you can set aside up to $3,050 in pre-tax dollars per calendar year to pay for eligible medical expenses like doctor visits, hospitalizations, and prescription medications. HRAs can be designed by an employer to fit a variety of needs and program designs. How Employers Can Help.

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