Proskauer's Employee Benefits & Executive Compensa

NOVEMBER 20, 2023

On November 9th, the IRS announced additional inflation adjustments for 2024, including to the annual contribution and carryover limits for healthcare flexible spending accounts and the monthly limit for qualified transportation fringe benefits. The new limits are set forth below.

Transportation 59

Transportation Flexible Spending Account Flexible Spending Retirement Plan 59

Benefit Resource Inc.

JANUARY 16, 2024

Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are two of the most effective instruments for optimizing health savings and financial flexibility for both employers and employees among the different components of a comprehensive benefits strategy.

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McDermott Will & Emery Employee Benefits

OCTOBER 19, 2022

The maximum salary reduction limit for a health flexible spending account (Health FSA) increased to $3,050 for 2023 (from $2,850 in 2022), and the Health FSA carryover […]. The post IRS Announces Cost-of-Living Adjustments for Health and Welfare Plans appeared first on EMPLOYEE BENEFITS BLOG.

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Health and Welfare Flexible Spending Account Flexible Spending Salary 98

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.

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Benefit Resource Inc.

NOVEMBER 7, 2022

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. The very nature of HSAs prevented you from also participating in a General Medical FSA.

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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

OCTOBER 4, 2023

Participating in a health savings account (HSA) or flexible spending account (FSA) is a great way to save money. Flexible spending account An FSA is an employer-owned account that you use to set aside funds for qualified expenses. Health savings account funds can be invested for potential growth of your HSA funds.

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Money Talk

JUNE 28, 2023

Flexible Spending Account (FSA) Tweak - Like HSAs, you know your health care spending so far. Health Savings Account (HSA) Tweak - By mid-year, you know what you already spent for health care services through June. Use this information to adjust payroll deductions for a health care FSA (up or down).

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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)? If you’re a first-time medical FSA participant, you may not be familiar with FSA definitions and rules.

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Benefit Resource Inc.

OCTOBER 31, 2022

Commuter benefits, flexible spending accounts, dependent care, and health savings accounts are just a few of the great employee benefits available to help you save money and reduce stress. A Flexible Spending Account (FSA) account allows you to have pre-tax deductions for certain medical and dependent care expenses.

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Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

Proskauer's Employee Benefits & Executive Compensa

OCTOBER 21, 2022

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. The new limits are set forth below.

Transportation 52

Transportation Flexible Spending Account Flexible Spending Health Savings Account 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

PeopleKeep

AUGUST 4, 2021

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).

Medical 98

Medical Flexible Spending Account Health Savings Account Flexible Spending 98

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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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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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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WEX Inc.

AUGUST 10, 2023

You might be surprised to learn that your health savings account (HSA) and medical flexible spending account (FSA) can help you save on purchases of a variety of back-to-school, expenses, including: Thermometers. Are you preparing to send your kids back to school soon?

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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

JULY 15, 2024

We’re past the halfway point of 2024 and, for most of our flexible spending account (FSA) participants, that means there are less than six months to go until the end of their plan year. Don’t let the last date of your plan year (in most cases, that is December 31) sneak up on you!

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Benefit Resource Inc.

APRIL 7, 2023

Savings If you have a pre-tax benefit account like a Flexible Spending Account , Health Savings Account , or Commuter Benefit Account , you’re already ahead of the game. But with price transparency tools like GoodRx and Healthcare Bluebook , you can find the product you need at a price that’s clear at the start.

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PeopleKeep

AUGUST 16, 2021

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. When making your decision, there are important regulations to keep in mind to make sure you’re coordinating the two health plans appropriately.

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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. Managing a Flexible Spending Account can be stressful, especially when you have excess funds. If you’ve made purchases in the past or you’re planning to make purchases, always keep your receipts.

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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.

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Health Flexible Spending Account Health Savings Account Flexible Spending 98

Benefit Resource Inc.

JANUARY 4, 2024

Medical Flexible Spending Accounts (FSA) and Dependent Care FSAs are both governed by IRS Section 125. While there, search for specific products or services using the online *Eligibility List. Please r eview your Plan Highlights to confirm what expenses or expense types are permitted under your plan.

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Benefit Resource Inc.

NOVEMBER 15, 2023

The Role of Employee Benefits Employee benefits, such as Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), Commuter Plans, and Specialty Accounts emerge as valuable tools in the toolbox of employers seeking to support their workforce during times of inflation.

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Benefit Resource Inc.

JUNE 20, 2023

Luckily, if you have a Flexible Spending Account (FSA), you can use it to save money on some summer essentials! Summer is here – it’s time to get outside and enjoy the sunshine! While we all love the warm weather and longer days, summer can also be expensive.

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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. Contributing to this benefit reduces taxable income and spreads the benefits of pre-tax dollars throughout the year, helping you save 30 percent or more on your dependent care costs.

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Benefit Resource Inc.

MAY 11, 2021

We think it’s pretty obvious, but we LOVE Flexible Spending Accounts (FSAs). With roughly 160 Flexible Spending Account (FSA)-related blogs on our site concentrating on eligibility, spending options, plan strategy, savings, and more…we cover it all! Day camps can include anything from sports camps to STEM camps.

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Flexible Spending Account Family and Medical Leave Act Flexible Spending Taxes 81

Benefit Resource Inc.

APRIL 18, 2023

One such way is by utilizing health savings accounts (HSAs) and flexible spending accounts (FSAs). Flexible Spending Accounts are designed to provide employees with an opportunity to set aside funds on a pre-tax basis to pay for eligible out-of-pocket medical expenses. What is an HSA? What is an FSA?

Medical 52

Medical Flexible Spending Account Health Savings Account Flexible Spending 52

Benefit Resource Inc.

NOVEMBER 6, 2023

FSA and HSA: By taking advantage of programs like Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs), employees can allocate a portion of their pre-tax earnings to cover essential health-related expenses. These benefits not only help employees save money but also make it easier for them to invest in their well-being.

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Flexible Spending Account Flexible Spending Health Savings Account Food 90

WEX Inc.

MAY 31, 2023

For those who have health savings accounts (HSAs) or medical flexible spending accounts (FSAs) , there are opportunities to save money on these expenses. Dental expenses can be a significant financial burden, especially when unexpected dental procedures arise. Can I use my HSA or medical FSA to pay for dental expenses?

Medical 98

Medical Flexible Spending Account Health Savings Account Flexible Spending 98

Benefit Resource Inc.

FEBRUARY 28, 2023

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.

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PeopleKeep

MAY 20, 2021

Plans like health reimbursement arrangements (HRAs), health savings accounts (HSAs), and flexible spending accounts (FSAs) are all ABHPs that are growing in popularity. 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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PeopleKeep

MAY 8, 2024

If you have a health reimbursement arrangement (HRA), health savings account (HSA), or healthcare flexible spending account (FSA), you have access to a powerful tool that can help you pay for your out-of-pocket medical costs. That’s why more individuals have recently turned to general wellness programs to improve their overall health.

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Flexible Spending Account Health Savings Account Flexible Spending Food 52

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. Conclusion As the back-to-school shopping frenzy commences, parents can take advantage of their Flexible Spending Account (FSA) to cover qualified health-related expenses.

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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. We break down FSA carryovers below. Read our blog posts on grace periods and run-out periods for the rest of the series. Can FSA funds carry over to next year?

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Flexible Spending Account IT Flexible Spending Taxes 98

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? What is a FSA?

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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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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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