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

Money Talk

JUNE 29, 2022

In it, I urged a review of tax deductions/credits, tax withholding, budgeting/cash flow, flexible spending accounts, financial goal progress, and investment portfolio status. This is a great time to increase emergency savings or automatic deposits into an employer retirement savings plan (e.g.,

401(k) 245

401(k) Out of Pocket Cost Finance Flexible Spending Account 245

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. Open enrollment typically occurs in late fall in October or November.

Employment 90

Employment Deductions Deductible Benefit Providers 90

HR Lineup

MAY 9, 2023

The platform is designed to help medical professionals and patients manage healthcare needs more efficiently, utilizing technology to improve the overall healthcare experience. Pazcare is dedicated to providing not only the best medical services to its clients but also to offering an exceptional employment package to its employees.

401(k) 52

401(k) Flexible Spending Account Health Insurance PTO 52

Benefit Resource Inc.

FEBRUARY 11, 2020

As we welcome the first quarter of the year, we also prepare ourselves for tax season. Some of us may find ourselves dreading this task, knowing that we typically feel a little lost or overwhelmed when it comes to the specifics of filing our taxes. Make a Designated Tax File. Choose How You Will Prepare.

Taxes 51

Taxes Finance Banking Utilities 51

CorpStrat

JANUARY 22, 2024

A well-executed communication plan ensures that your employees are aware of the full range of benefits available to them, understand how to utilize them, and feel valued and supported. — As employers, you play a pivotal role in ensuring your team is aware and making the most of these benefits.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

Benefit Resource Inc.

JANUARY 16, 2020

Incorporating lifestyle components into pre-tax accounts. So, how will this affect tax advantaged accounts like Flexible Spending Accounts and Health Reimbursement Accounts? Tools like HSA Bridge allows employees to pay for qualified expenses with tax-free money before their HSA balance has built up.

Health Savings Account 73

Health Savings Account Flexible Spending Account Flexible Spending Taxes 73

WEX Inc.

SEPTEMBER 6, 2023

Being able to differentiate yourselves as an employer by saying ‘Whatever is important to you (like your pets) is important to us too’ really helps employers to stand out,” said Moszer on our Benefits Buzz podcast. Can be a cost-effective option for pet owners who frequently utilize preventive services.

Recruitment 59

Recruitment Flexible Spending Account Health Savings Account Medical 59

Benefit Resource Inc.

OCTOBER 14, 2021

With Open Enrollment just around the corner, your employer may offer “HRA VEBA” as one of your employee benefits options. Your employer contributes funds into a trust account, tax-free, for you to use towards eligible health care expenses. Similar to a regular HRA, your employer determines the contributions.

Flexible Spending Account 75

Flexible Spending Account Flexible Spending Taxes Utilities 75

Benefit Resource Inc.

APRIL 6, 2023

This day is dedicated to recognizing employers’ hard work and dedication that provide valuable benefits to their employees. In honor of National Employee Benefits Day, here are some of the often overlooked benefit options employers can use to “sweeten the pot” to attract new talent and retain existing talent.

Employee Benefits 52

Employee Benefits Health Savings Account Taxes Entertainment 52

Benefit Resource Inc.

NOVEMBER 29, 2023

While you should consult your tax or investment advisor, prior to making your retirement plans official, ask how COBRA and an HSA could fit in with your early retirement strategy. This essentially means you are paying premiums that likely exceed the services that you will utilize. By age 65 (or 63.5

401(k) 98

401(k) Medical Retirement Plan Health Savings Account 98

Business Management Daily

JANUARY 5, 2021

The law also extends expiring tax provisions and everything that could be jammed into 5,593 pages of federal legislation three days before Christmas. The key payroll provisions include: An extension of the paid sick/ family leave provisions and your tax credit for providing leave. Extensions of popular payroll tax provisions.

Family and Medical Leave Act 52

Family and Medical Leave Act Payroll 401(k) Taxes 52

Benefit Resource Inc.

DECEMBER 8, 2020

Families utilizing Dependent Care Flexible Spending Accounts (FSAs) are up against a December 31st deadline. The end of the year is a busy time for people with pre-tax benefits. If you have an FSA, there’s a high chance you’ll have to spend down the money in your account so you don’t lose it.

Flexible Spending Account 75

Flexible Spending Account Flexible Spending Transportation Medical 75

Genesis HR Solutions

MAY 23, 2023

In an attempt to counteract the bleeding of workers, employers are getting creative with how they attract applicants and hopeful new hires. Employers are making offers quickly and using salary and compensation benchmarking to create offers that stand out from the competition in an effort to be the first to snag in-demand candidates.

Insurance 40

Insurance PTO Flexible Spending Human Resources 40

Benefit Resource Inc.

DECEMBER 6, 2018

” Unfortunately, when it comes to pre-tax plan compliance, discrimination has nothing to do with protected classes. What is required to have a compliant pre-tax benefit plan? Utilization. The utilization tests are based on actual benefits elected by employees and must be conducted annually to ensure compliance.

Flexible Spending 40

Flexible Spending Utilities Taxes Government 40

Higginbotham

MARCH 17, 2023

ACA Pay or Play Penalties Will Increase for 2024 On March 9, 2023, the IRS released updated penalty amounts for 2024 related to the employer shared responsibility (pay or play) rules under the Affordable Care Act (ACA). For calendar year 2024, the adjusted $3,000 penalty amount is $4,460. 31, 2023 On Feb.

Health Insurance 52

Health Insurance Flexible Spending Account Insurance Benefits Package 52

Benefit Resource Inc.

SEPTEMBER 15, 2020

For optimists out there, this suggests employers are just over the hump and will be soon finalizing their plans for open enrollment. However, it also means employers have 45% of the work remaining. If you are like most employers, you still have a number of preparations to make prior to open enrollment.

Electronics 40

Electronics Utilities Taxes Employment 40

Benefit Resource Inc.

OCTOBER 17, 2019

Timeline for employer funding. An employer may choose to fund the monthly commuter benefit on a specific day each month in anticipation of when employees are likely to buy their transit passes. Alternatively, employers can use a payroll model in which funds are available to employees as they are collected through payroll.

Management 40

Management Deductions Deductible Health Savings Account 40

Benefit Resource Inc.

NOVEMBER 19, 2020

The IRS requires testing for these plans and they must meet specified eligibility, benefits, and utilization requirements. Additionally, they should take into account all individuals who were employed throughout the year, whether active or terminated, if they participated in any pre-tax benefits plans. Employer changes.

Work From Home 52

Work From Home Utilities Taxes Salary 52

Proskauer's Employee Benefits & Executive Compensa

FEBRUARY 7, 2022

For many employers and plan administrators, the last three weeks have been a blur of frenzied planning to ensure compliance with the new coverage mandate, which was set forth in the Departments’ FAQs Part 51. Plans utilizing this special rule should also remember to inform participants of any limitations they will impose in this regard.

Retail 52

Retail Manufacturing Medical Flexible Spending Account 52

Empuls

OCTOBER 11, 2023

While the contract of employment asks for an employee’s “services” in exchange for remuneration, along with those services, a considerable amount of physical and mental exhaustion goes into the job as well. These taxes can either be grossed up from the organization’s behalf or can be taken care of by the employee.

Healthcare 40

Healthcare Medical Consulting Flexible Spending Account 40

Empuls

JULY 11, 2023

In the ever-evolving world of employment, organizations are increasingly focusing on enhancing employee satisfaction and well-being. Alongside competitive salaries and career growth opportunities, companies are now offering a wide array of tax free or non taxable employee benefits to attract and retain top talent.

Employee Benefits 40

Employee Benefits Flexible Spending Account roth 401(k) 401(k) 40

PeopleKeep

APRIL 30, 2020

Medical reimbursement plans are IRS-approved health plans that allow for tax-free reimbursement for medical expenses. Because the reimbursements occur pre-tax, employees and employers often save up to 50% in combined taxes on the cost of medical expenses. Flexible Spending Accounts (FSAs). Employer only.

Medical 56

Medical Flexible Spending Account Health Savings Account Health Insurance 56

Benefit Resource Inc.

JUNE 29, 2021

Within the pre-tax benefit space, your work is cut out for you as a human resource professional. Now that you’ve explained (again) how insurance works, you get to begin the real work of teaching employees the difference between Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs).

401(k) 78

401(k) Deductions Deductible Flexible Spending Account 78

Vantage Circle

SEPTEMBER 11, 2023

Flexibility in Benefits: An employee benefits platform can provide greater flexibility in the benefits employers can offer their employees. This can help employers tailor their benefits packages to meet their employees' specific needs and preferences. Findings from the Blog?

Employee Benefits 52

Employee Benefits Payroll Retirement Plan Software 52

Genesis HR Solutions

DECEMBER 5, 2019

Employer Compliance. I-9 documents & employment eligibility. Flexible spending programs. While some employers have more potential risks than others, no matter your organization, it’s good to have resources for employee risk management on hand if and when you do need them. State leave laws. EEO messaging.

Human Resources 10

Human Resources 401(k) Taxes Overtime 10