PayrollOrg

NOVEMBER 10, 2023

The IRS released cost-of-living-adjustments (COLAs) for 2024 reflecting any increases in excludable transportation fringes and flexible spending arrangements (FSAs).

Transportation 118

Transportation Flexible Spending 118

McDermott Will & Emery Employee Benefits

JUNE 1, 2023

The Internal Revenue Service (IRS) recently issued a Chief Counsel Advice memorandum to remind sponsors of health and dependent care flexible spending arrangements (FSAs) about their responsibility to adequately substantiate claims in order to receive favorable tax treatment under Section 125 of the Internal Revenue Code (the Code).

Flexible Spending 98

Flexible Spending Taxes Employee Benefits Health and Welfare 98

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.

Health and Welfare 98

Health and Welfare Flexible Spending Account Flexible Spending Salary 98

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.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

SEPTEMBER 19, 2024

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

Health Flexible Spending Account Health Savings Account Flexible Spending 98

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

Money Talk

AUGUST 3, 2022

They include 529 college savings plans, flexible spending accounts (FSAs), tax-deferred annuities, and health savings accounts (HSAs) for people with high-deductible health insurance plans. Bottom Line: tax-efficient investment strategies allow investors to retain more of their investment earnings.

Taxes 188

Taxes 401(k) Flexible Spending Account Deductions 188

WEX Inc.

OCTOBER 2, 2024

Exploring HSAs and FSAs HSAs and medical flexible spending accounts (FSAs) let you save money because the funds you contribute to them are pre-tax. Funds you or your employer contribute to your HSA can help with this. Watch the video to hear more from our own Jason Cook about the retirement-planning potential of an HSA.

Employee Benefits 98

Employee Benefits Flexible Spending Account Health Savings Account Life Insurance 98

Benefit Resource Inc.

NOVEMBER 8, 2023

If you’re wondering what the difference is between a Medical Flexible Spending Account (Medical FSA) and a Dependent Care Flexible Spending Account (DC FSA), you are not alone. Maybe you didn’t realize there is more than one type of FSA to choose from.

Medical 98

Medical Flexible Spending Account Flexible Spending Deductible 98

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.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Health Insurance Healthcare 98

WEX Inc.

DECEMBER 3, 2024

Medical flexible spending accounts (medical FSAs) are use-or-lose accounts. There are limits as to whether (or how much of) your employees’ FSA funds can be carried over into the next plan year. How well do your employees understand their FSA’s plan rules? If they don’t, they could risk forfeiting funds to the plan.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Medical Taxes 98

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.

Medical 98

Medical Flexible Spending Account Flexible Spending Taxes 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.

401(k) 98

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

Money Talk

JANUARY 19, 2022

Check Your FSA - Learn the rules for your flexible spending account (FSA). When you feel “imposter syndrome” at work or that nobody cares about your paid or volunteer efforts, pull these items out and read them. These plans allow workers to contribute pre-tax income annually for out-of-pocket medical expenses and child/elder care.

Flexible Spending Account 187

Flexible Spending Account Taxes Pension Deductible 187

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.

Flexible Spending Account 87

Flexible Spending Account Health Savings Account Flexible Spending Healthcare 87

WEX Inc.

JANUARY 8, 2021

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. New bill offers new options to employers, improving benefits of FSA.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Employment Medical 98

InterWest Insurance Services

DECEMBER 5, 2024

Under notice 2024-71, flexible spending arrangements, health reimbursement accounts and health savings accounts will be required to reimburse for the cost of condoms. Oral contraceptives (including emergency contraceptives) and condoms.

Out of Pocket Cost 92

Out of Pocket Cost Health Savings Account Deductions Deductible 92

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.

Flexible Spending Account 81

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

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. Last year, I wrote a blog post about mid-year financial check-up s for the OneOp Personal Finance team.

401(k) 189

401(k) Out of Pocket Cost Finance Flexible Spending Account 189

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.

Flexible Spending Account 94

Flexible Spending Account Health Savings Account Flexible Spending Employment 94

BerniePortal

SEPTEMBER 15, 2021

This is typically paid out via a Flexible Spending Account (FSA). Dependent care refers to a benefit which offers support for those employees who need help paying for their dependents. A dependent is an individual for whom a parent, relative, or other person provides care.

Flexible Spending Account 97

Flexible Spending Account Flexible Spending IT Taxes 97

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.

Taxes 98

Taxes Flexible Spending Account Health Savings Account Flexible Spending 98

WEX Inc.

OCTOBER 22, 2024

The IRS released 2025 contribution limits for medical flexible spending accounts (medical FSAs), commuter benefits , and more as part of Revenue Procedure 2024-40. These limits undergo annual adjustments to account for inflation.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Deductions Deductible 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?

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

InterWest Insurance Services

MARCH 22, 2022

Flexible spending account. Call us for more information on how you can set up a flexible benefit plan for your staff. There are several types of flexible benefit plans, including cafeteria plans and flexible spending accounts. Flexible spending accounts.

Flexible Spending Account 91

Flexible Spending Account 401(k) Flexible Spending Deductions 91

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.

Taxes 75

Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

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?

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

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?

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

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.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Healthcare Taxes 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.

Flexible Spending Account 96

Flexible Spending Account Flexible Spending Taxes Utilities 96

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

Health Flexible Spending Account Health Savings Account Flexible Spending 98

Benefit Resource Inc.

DECEMBER 2, 2021

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. 2022 Changes to Dependent Care.

Flexible Spending Account 105

Flexible Spending Account Flexible Spending Taxes Employment 105

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.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Taxes Consulting 98

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.

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.

Flexible Spending Account 75

Flexible Spending Account Flexible Spending Medical Food 75

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.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Taxes Medical 98

InterWest Insurance Services

OCTOBER 27, 2022

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).

Flexible Spending Account 93

Flexible Spending Account Employment Flexible Spending Deductions 93