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Corporate Wellness – What are this year’s big trends?

TLNT

Flexible Spending Account (FSA) Health Spending Account (HSA) Healthcare HR Insights HR Trends Human Resources Wellness Work-Life Balance Workforce Workplace Stress Featured“What’s trending in the corporate wellness space?”

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Start your new benefits plan year off right with these 8 tips

WEX Inc.

In fact, staying on top of your health savings account (HSA) , flexible spending account (FSA) , or any other plan you signed up for throughout the year can pay off for you. From your online account, click on Message Center and then click Update Notification Preferences.

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6 things to know if you’re a first-time medical FSA participant

WEX Inc.

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. Benefits Buzz Employee Benefits Flexible Spending Accounts (FSA) Participants

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Dependent Eligibility Audits – What Are They and Why Should You Consider Conducting One?

International Foundation of Employee Benefit Plans

dependent care dependent care account dependent care assistance programs Dependent Care Flexible Spending Accounts Dependent Care FSA employee benefits health care benefits health insuranceAnyone who works with health care benefit plans knows that costs keep going up.

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IRS Announces Cost-of-Living Adjustments for Health and Welfare Plans

McDermott Will & Emery Employee Benefits

On October 18, 2022, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the applicable dollar limits for certain account-based health and welfare plans (see Rev.

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Fun For the Whole Family: More ACA Subsidies Apply

McDermott Will & Emery Employee Benefits

Benefit Controversies Health and Welfare Plans ACA marketplace Affordable Care Act (ACA) cafeteria plan employer-sponsored group health plan flexible spending account plan Internal Revenue Service IRS premium tax credits (PTCs) Section 125 plans US Department of Treasury

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Understanding the codes on your medical receipts

PeopleKeep

These codes are a quick way for you to see which items on your receipt can be paid for through your health savings account (HSA), your flexible spending account (FSA), or are eligible for reimbursement through your health reimbursement arrangement (HRA).

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5 Things You Didn’t Know About Your FSA

CorpStrat

A Flexible Spending Account at its core is a tool that allows an individual to set aside money to pay these out of pocket expenses with pre-tax dollars allocated for the year. Employee Benefits featured flexible spending account FSA hsa pre-tax

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Can I have an HRA and an FSA at the same time?

PeopleKeep

From choosing your own individual health insurance plan to spending your HRA dollars on the qualifying out-of-pocket medical expenses that make sense for you, an HRA gives you the freedom to choose. Flexible Spending Accounts Health Reimbursement Arrangement

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Small Business 101 - Reimburse employees for medical expenses

PeopleKeep

Flexible Spending Accounts HSA Health Reimbursement Arrangement Human ResourcesAs leadership teams evaluate small business health insurance options , many want to know how they can reimburse employees tax-free for medical expenses.

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Account-based health plans vs. healthcare reimbursement plans

PeopleKeep

Two popular benefits that have gained traction lately are account-based health plans (ABHPs) and health reimbursement plans. Let’s go over account-based health plans and health reimbursement plans, their pros and cons, and when they can work for your business and employees.

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What the end of the COVID-19 national emergencies would mean for COBRA, FSAs, and more

WEX Inc.

FSAs and HRAs EBSA Disaster Relief Notice 2020-01 also granted a temporary extension to run-out periods for flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs). This flexibility was first provided as part of the 2020 CARES Act.

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HRA vs. HSA vs. FSA comparison chart

PeopleKeep

One way small employers can avoid high insurance costs while still offering a formal health benefit to recruit and retain top talent is an account-based health plan (ABHP). Flexible Spending Accounts HSA Health Reimbursement Arrangement

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What happens to employee benefits plans when you elect COBRA?

WEX Inc.

And election of COBRA can affect your ability to use the reimbursement accounts in which you were participating prior to your COBRA eligibility. Health Savings Account (HSA) HSAs are individually owned accounts, so your HSA will stay with you no matter whether or how you qualify for COBRA.

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How Section 125 cafeteria plans work

PeopleKeep

Section 125 Flexible Spending Accounts Health Savings AccountsMany working Americans have access to a Section 125 Cafeteria Plan at some point during their working career, yet many do not take full advantage of them.

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Happy 2023! Get educated with our top 2022 blog posts

WEX Inc.

Fortunately, your health savings account (HSA) is an employee-owned account, so it stays with you, even when you switch employers. Why adding an FSA makes an HSA even better Did you know that you can participate in both an HSA and a flexible spending account (FSA)?

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FSA-HSA Contribution Limits For 2022

Stratus.HR

If you’d like to tax-shelter a portion of your income for 2022, please see the increased contribution amounts below for both Flexible Spending Account (FSA) and Health Savings Account (HSA) participants. What is a Health Savings Account (HSA)?

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How to Resolve Common FSA Pain Points

Winston Benefits

There are always questions surrounding new benefits and accounts. Flexible spending accounts (FSAs) can be especially confusing. FSA flexible spending accountLuckily, thanks to our partnership with ConnectYourCare, we don’t just have answers — we have solutions. Winston and ConnectYourCare are committed to easing the pain of setting up and using new voluntary benefits.

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What is a lifestyle spending account?

PeopleKeep

Many employers are familiar with account-based benefits like health savings accounts (HSAs), flexible spending accounts (FSAs), and health reimbursement arrangements (HRAs).

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Use It or Lose It? Here’s What Happens to Unused FSA Funds

Patriot Software

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.

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COVID-19 Bill Boosts Benefits of FSA—But Only If Employers Act

WEX Inc.

Many employees took advantage of health and dependent care flexible spending accounts (FSAs) in 2020, only to see those funds languish unused as day cares closed and routine medical visits were put off to protect family members. Reimbursement Accounts COVID-19

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10 health reimbursement arrangement FAQs

PeopleKeep

HRAs have similar regulations as other tax-advantaged health benefits, like health savings accounts (HSAs) and flexible spending accounts (FSAs).

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Unexpected Healthcare Services that are FSA-Eligible | BerniePortal

BerniePortal

From service animal training to sleep deprivation treatment, these six medical products and services are eligible to be purchased using a wide variety of flexible spending accounts (FSAs). FSAs Benefits & Healthcare

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What Is a Dependent Care FSA and How Does It Work?

BerniePortal

This is typically paid out via a Flexible Spending Account (FSA). Dependent care FSAs can also be referred to as dependent care reimbursement accounts or DCRAs.

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What Is an FSA?

Patriot Software

An FSA, also known as a flexible spending account (or arrangement), is a tax-free fund that […] READ MORE. As an employer, you can offer various benefits to your employees. There are pre-tax and post-tax benefits for employees to enjoy.

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FSA vs. HSA: Which camp are you?

Benefit Resource Inc.

For a long time, I believed you were either for Health Savings Accounts (HSAs) or you were for Flexible Spending Accounts (FSAs), but you couldn’t be for both. To learn more about FSAs and HSAs, download our account comparison chart.

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Defined: The Difference Between HSAs and FSAs | BerniePortal

BerniePortal

For healthcare, one of the most common questions that may come up is the difference between health savings accounts (HSAs) and flexible spending accounts (FSAs).

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Saving vs. Spending: The Difference Between HSAs and FSAs

Benefit Resource Inc.

That includes being aware of how Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) can play a role in helping staff save money—which could result in improved financial security among company members. Flexible Spending Health Savings The Press Room

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IRS Announces 2023 Increases to Health FSA and Transportation Fringe Benefit Limits

Proskauer's Employee Benefits & Executive Compensa

On October 18th, the IRS announced a slew of inflation adjustments for 2023, including to the annual contribution and carryover limits for healthcare flexible spending accounts and the monthly limit for qualified transportation fringe benefits.

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Flexible Benefit Plans Give Employees More Options

InterWest Insurance Services

Employers fund these flexible benefit plans with funds that are deducted from their employees’ salaries on a pre-tax basis. Flexible spending account. Remember: Flexible benefit plans are not without their drawbacks. Flexible spending accounts.

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Can You Use FSA and HSA Together? | BerniePortal

BerniePortal

For healthcare, one of the most common questions that may come up is whether or not users can own both a health savings account (HSA) and a flexible spending accounts (FSA).

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Employees and Employers Save with Cafeteria Plans

InterWest Insurance Services

Flexible spending account: With an FSA an employee pays — on a pre-tax basis through salary reduction — for out-of-pocket medical expenses that aren’t covered by insurance (for example, annual deductibles, doctor’s office copayments, prescriptions, eyeglasses and dental costs).

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What to Expect from Dependent Care in the New Year

Benefit Resource Inc.

A Dependent Care Flexible Spending Account (often shortened to ‘Dependent Care FSA’) is a pre-tax benefit account used to pay for eligible services such as preschool, summer day camp, before/after school programs, and child or adult daycare.

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4 quick tips to make the most of your FSA

Benefit Resource Inc.

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. At this point, many people feel they over-funded their account and are resigned to the fact that they can’t avoid losing the excess funds. Flexible Spending

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More than FSAs: Get Employees Ready for Open Enrollment

Benefit Resource Inc.

Many employers offer Flexible Spending Accounts (FSAs) as a way to help employees cover out-of-pocket medical expenses. FSAs are a great way to save money on things like co-pays and prescriptions, but they’re not the only account worth considering. BRI’s VP of Strategy, Becky Seefeldt , shares the importance of reviewing the different types of accounts available and determining which ones make the most sense for your company and your employees.