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) or 403(b) plan).

401(k) 245

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

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

PeopleStrategy

DECEMBER 6, 2023

The good news is that the past trends of employers not recognizing the importance of mental health are changing according to new reports. How To Easily Support Employees Utilizing those various ways to gauge employees’ needs when it comes to mental health is a great first step.

Flexible Spending Account 52

Flexible Spending Account Utilities Flexible Spending Commissions 52

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

HR Lineup

JUNE 14, 2023

With a mission to simplify the complexities of benefits enrollment and management, Empyrean offers innovative solutions that streamline the process for employers and empower employees to make informed decisions about their benefits. Employers and employees can have peace of mind knowing that their personal and financial data is safeguarded.

Flexible Spending Account 52

Flexible Spending Account Retirement Plan Flexible Spending Health Insurance 52

PeopleStrategy

OCTOBER 10, 2023

Open enrollment season can be a challenging time for both employees and employers. Employees are often inundated with complex benefit options and decisions, while employers struggle to communicate these options effectively. Offer Choice and Flexibility Employees value choice and flexibility.

Flexible Spending Account 52

Flexible Spending Account Retirement Plan Voluntary Benefits Flexible Spending 52

Benefit Resource Inc.

JANUARY 16, 2020

So, how will this affect tax advantaged accounts like Flexible Spending Accounts and Health Reimbursement Accounts? By addressing employees’ fears, employers are able to increase HSA participation and curb rising premium costs. The net impact becomes a win-win for employees and employers.

Health Savings Account 73

Health Savings Account Flexible Spending Account Flexible Spending Taxes 73

Benefit Resource Inc.

FEBRUARY 14, 2022

To employers, Valentine’s Day has special meaning as well. The vast majority of companies provide employee benefits to their workers, and as an employer, nothing offers better returns than investing in your employees. That’s why employers should be offering medical and health-related benefits.

401(k) 81

401(k) Flexible Spending Account Health Savings Account Benefits Package 81

Benefit Resource Inc.

JANUARY 12, 2024

For employees, it can manifest as increased stress, anxiety, and decreased productivity, making it a pivotal day for employers to address mental health concerns. Employers can play a crucial role in creating a supportive atmosphere that encourages open dialogue and access to mental health resources.

Taxes 52

Taxes Employee Wellness Utilities Healthcare 52

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.

DECEMBER 8, 2020

Families utilizing Dependent Care Flexible Spending Accounts (FSAs) are up against a December 31st deadline. 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. Run-out: Can be offered by an employer extending to both routine medical FSAs.

Flexible Spending Account 75

Flexible Spending Account Flexible Spending Transportation Medical 75

Benefit Resource Inc.

DECEMBER 6, 2018

The legal answer: The IRS requires that cafeteria plans, self-insured health plans (including health flexible spending arrangements), and dependent care assistance programs must not favor highly compensated or key employees. Utilization. If there are issues, employers can perform pre-tax adjustments.

Flexible Spending 40

Flexible Spending Utilities Taxes Government 40

Benefit Resource Inc.

FEBRUARY 9, 2022

Any employer-sponsored benefit is potentially eligible for COBRA coverage. This includes: medical, dental, vision, Medical Flexible Spending Accounts (Medical FSAs) and Health Reimbursement Accounts (HRAs). Their employer may have been covering 75 percent (or more) of the cost. True Cost of Premiums.

Family and Medical Leave Act 45

Family and Medical Leave Act Flexible Spending Account Health Savings Account Medical 45

Higginbotham

DECEMBER 21, 2023

In this article, we’ll examine the current state of employee benefits , including expectations from potential and current workers, and outline some strategies businesses can utilize to make their company more competitive while anticipating the changing needs and wants of today’s workforce.

401(k) 52

401(k) Benefits Package Retirement Plan Flexible Spending Account 52

Benefit Resource Inc.

DECEMBER 30, 2020

We are excited to provide you with some additional insight into the FSA relief options for Health and Dependent Care Flexible Spending Accounts, included in the year-end spending bill signed into law on December 27, 2020. Employers (also referred to as plan sponsors) may allow participants to: Make new elections.

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account Utilities 52

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.

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

This essentially means you are paying premiums that likely exceed the services that you will utilize. If your employer offers a rollover option, any unused funds, up to a certain limit, may be rolled into the next plan year.

401(k) 98

401(k) Medical Retirement Plan Health Savings Account 98

Best Money Moves

MAY 9, 2018

By providing resources employees can utilize to improve their financial know-how you accomplish more than just boosting morale – you improve productivity. Flexible spending accounts (FSA) and health savings accounts (HSA) help employees prepare and pay for healthcare expenses. Here are their benefits and differences.

Flexible Spending Account 46

Flexible Spending Account Health Savings Account Health Insurance Flexible Spending 46

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

Business Management Daily

JANUARY 5, 2021

Relief for employers that deferred the deposit of employees’ Social Security taxes. Who got paid creditable wages differed, depending on size: Employers with 100 or more employees (i.e., For purposes of determining whether you’re a large employer, the 100-employee threshold increases to employers with 500 employees.

Payroll 52

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

Benefits Notes

FEBRUARY 26, 2021

On February 18, 2021, the IRS issued Notice 2021-15, clarifying temporary special rules for cafeteria plans, health flexible spending accounts (“FSAs”), and dependent care assistance programs (“DCAPs”) that were included in the Consolidated Appropriations Act (“CAA”), enacted on December 27, 2020.

Flexible Spending 40

Flexible Spending Flexible Spending Account Deductions Deductible 40

Benefit Resource Inc.

FEBRUARY 11, 2020

Utilizing accounting software throughout the year is one way to ensure all income and expenditures are accounted for. It’s required that your employers, mortgage lender, and student loan services send your tax documents by the end of January. Streamline Any Business Finances. Make a List and Timeline. Consider Filing Early.

Taxes 51

Taxes Finance Banking Utilities 51

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

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. It has to be a comprehensive process that would reduce the cost of healthcare for both employees and employers.

Healthcare 40

Healthcare Medical Consulting Flexible Spending Account 40

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

Benefit Resource Inc.

NOVEMBER 19, 2020

The IRS requires testing for these plans and they must meet specified eligibility, benefits, and utilization requirements. Employer changes. Your tests should be completed as of the last day of the plan year. COVID-19 caused a lot of turmoil this year, and it likely had an effect on your company and its employees. Participant changes.

Work From Home 52

Work From Home Utilities Taxes Salary 52

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

PeopleKeep

APRIL 30, 2020

There are a few different types of medical reimbursement plans including: Health Reimbursement Arrangements (HRAs), Healthcare Reimbursement Plans (HRPs), Health Savings Accounts (HSAs), and Health Flexible Spending Accounts (FSAs). An employer usually offers an HSA-qualified high-deductible health plan and an HSA.

Medical 72

Medical Flexible Spending Account Health Savings Account Health Insurance 72

HR Lineup

JUNE 9, 2023

This means that employers can easily manage various benefit plans, such as health insurance, retirement savings, flexible spending accounts, and more, all in one place. Benefitfirst also offers robust reporting and analytics capabilities, allowing employers to gain valuable insights into their benefits programs.

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Utilities Health Insurance 52

Vantage Circle

FEBRUARY 12, 2024

There's a science to selecting benefits that effectively balance employer budgets and employee priorities. – SHRM So, what’s the benefit to employers from such surveys? Employers also get to optimize limited budgets to drive engagement, productivity, and retention. And what’s the benefit to employees?

Employee Benefits 59

Employee Benefits Family and Medical Leave Act Parental Leave Benefits Package 59

Empuls

JULY 11, 2023

In the ever-evolving world of employment, organizations are increasingly focusing on enhancing employee satisfaction and well-being. tax free benefits are those that provide financial advantages for both employees and employers by avoiding certain taxes and deductions. Tax savings for employers.

Employee Benefits 40

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

Benefit Resource Inc.

OCTOBER 19, 2023

Additionally, when looking at internal BRI utilization metrics that indicate why participants are calling in, it’s evident that BRI’s effort to continuously improve has an impact. Based on BRI utilization metrics as of 9/1/23: 88.4% What Can Employers Do to Help their Employees? 7% use a digital wallet.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Utilities Flexible Spending 52

Benefit Resource Inc.

JUNE 29, 2021

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). Frankly, most employers don’t have the time or capacity to provide a full-blown education to employees.

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