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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. For most of you, a new plan year has begun!

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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)? You might be surprised by the variety of products and services you can spend your medical FSA dollars on.

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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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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. ‘Tis the season to make and finalize FSA contributions for the 2022 plan year.

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

McDermott Will & Emery Employee Benefits

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 […].

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IRS Announces 2023 Employee Benefit Plan Limits

McDermott Will & Emery Employee Benefits

The Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social Security wage base for 2023.

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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. Flexible Spending Health Savings

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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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Utilizing Pre-Tax Benefits to Prioritize Health in 2023

Benefit Resource Inc.

With a Flexible Spending Account (FSA), you can set aside up to $3,050 in pre-tax dollars per calendar year to pay for eligible medical expenses like doctor visits, hospitalizations, and prescription medications. It’s that time of year again!

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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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The Lost Receipt

Benefit Resource Inc.

Flexible Spending Health ReimbursementThe dreaded lost receipt. We’ve all been there. We’re trying to save money and use our FSA or HSA accounts, so we tuck away that medical receipt in a safe place for later. But when the time comes and the receipt is nowhere to be found, panic may set in. Don’t worry, there are options! Check with your Insurance Carrier.

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Account-based health plans vs. healthcare reimbursement plans

PeopleKeep

Flexible Spending Accounts HSA Health Reimbursement Arrangement High Deductible Health Plans Qualified Small Employer HRA Group Coverage HRA Individual Coverage HRAAs an employer, you always want to offer the best possible healthcare benefits for your employees.

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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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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

Plans like health reimbursement arrangements (HRAs), health savings accounts (HSAs), and flexible spending accounts (FSAs) are all ABHPs that are growing in popularity. Flexible Spending Accounts HSA Health Reimbursement Arrangement

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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. Managing a Flexible Spending Account can be stressful, especially when you have excess funds. Flexible SpendingBy 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.

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What happens to employee benefits plans when you elect COBRA?

WEX Inc.

And, if you are no longer enrolled in an HSA-eligible health plan, you can’t contribute to your HSA, but you can still spend your HSA funds at any time. Flexible Spending Account (FSA) If you were enrolled in an FSA prior to electing COBRA, you may still be able to tap into your FSA funds.

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What We’ve Learned About Pre-Tax Benefits This Year

Benefit Resource Inc.

DIFFERENT WAYS TO SPEND DEPENDENT CARE FUNDS. Choosing between a Health Savings Account (HSA) and a Flexible Spending Account (FSA) can be overwhelming. Flexible Spending Accounts, or FSAs for short, are widely known as a great way to save up and use pre-tax funds for medical expenses. Dependent Care Flexible Spending Health Accounts Health Savings Specialty AccountsPre-tax benefits are growing in popularity amongst employers and employees alike.

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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.

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)? A few last-minute FSA spending ideas If your FSA has a grace period, you may still have time to spend down your remaining balance from your 2022 FSA.

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What happens to HSA funds at the end of the year?

Benefit Resource Inc.

Unlike other types of medical spending accounts, HSAs are not subject to the “use-it-or-lose-it” provision that would cause you to forfeit any unused funds by the end of the year. Flexible Spending Health Accounts Health SavingsThe arrival of December often triggers the onset of a mild panic attack for many individuals. We’re not referring to the anxiety that tends to accompany the hustle and bustle of the approaching holidays.

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Pre-Tax Benefits Don’t Have to be Scary

Benefit Resource Inc.

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. An FSA is an easy way to use your pre-tax funds, but don’t forget to spend them or you risk losing the funds at the end of the year.

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How to Use Your FSA for Eye Care

Benefit Resource Inc.

Did you know you can use your Flexible Spending Account (FSA) funds to cover a wide range of out-of-pocket healthcare costs, including vision care. Remember that you can only use your FSA funds for eligible expenses, so be sure to keep track of what you are spending your money on. Flexible SpendingEligible expenses include annual eye exams, contact lenses, and eyeglasses.

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The Most Surprising Eligible and Ineligible Medical Expenses

Benefit Resource Inc.

Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs) are both incredibly valuable benefits to help employees use pre-tax dollars to pay for eligible medical expenses. Flexible Spending Health Accounts Health Savings

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BRI is Your “Lucky Charm” for Great Benefits

Benefit Resource Inc.

With hundreds of blogs and other resources on our site focusing on eligibility, spending options, plan strategy, savings, and more…we cover it all! Flexible Spending Health Accounts Health Savings Specialty AccountsHere at BRI, there are a few things that many of us enjoy. (A

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2022 Contribution Limits Announced For FSA and Commuter

Benefit Resource Inc.

Commuter Benefits Flexible Spending Health Accounts Open Enrollment Resources & GuidesThe IRS released the 2022 contribution limits for Mass Transit, Parking, Medical FSA, and Adoption Assistance in Revenue Procedure 2021-45.

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Eligible Expenses to Help Beat the Heat

Benefit Resource Inc.

Many people don’t realize that their Flexible Spending Account (FSA) or Health Savings Account (HSA) can be used on various health-related purchases beyond doctor visits and prescriptions. Flexible Spending Health Accounts Health SavingsAs the weather heats up, so do the prices on many summertime necessities. Beat the heat this summer by taking advantage of your FSA or HSA to purchase eligible items.

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REGISTER FOR OUR UPCOMING WEBINAR: Leverage employee insights for a strategic approach to health accounts

Benefit Resource Inc.

Flexible Spending Health Accounts Health SavingsJoin Benefit Resource (BRI) for our webinar ‘‘Leverage Employee Insights for a Strategic Approach to Health Accounts ‘ on Tuesday, February 14th at 1:00 PM EDT.

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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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What is Substantiation and Why is it Required?

Benefit Resource Inc.

Flexible Spending Health ReimbursementYou went to the local pharmacy, picked up your medicine, and then received a request for substantiation a few days later. If you’ve ever wondered, “what is substantiation and why is it required?” ” you’re not alone.

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17 Surprising Ways to Use your Medical FSA Funds

Benefit Resource Inc.

Health and medical expenses are covered by a Flexible Spending Account or Medical FSA to promote general well-being. Flexible Spending Health AccountsThese accounts are used to cover health and medical expenses both for you and your dependents (usually children). Take advantage of your pre-tax benefits this year! You may be able to save on routine expenses, like preventative healthcare costs.

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Maintaining A Healthy Lifestyle At Work

Benefit Resource Inc.

During the week, we spend a lot of our time at work, which can make it a bit challenging to follow consistent healthy habits. The intent of these accounts is to reimburse for fitness and other physical activities that you may spend your money on throughout the year. Flexible Spending Health Accounts Health Savings Specialty Accounts