McDermott Will & Emery Employee Benefits

OCTOBER 19, 2022

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. The post IRS Announces Cost-of-Living Adjustments for Health and Welfare Plans appeared first on EMPLOYEE BENEFITS BLOG.

Health and Welfare 82

Health and Welfare Flexible Spending Account Flexible Spending Salary 82

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

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 98

Flexible Spending Account Health Savings Account Flexible Spending Employment 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.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 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.

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.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

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.

Flexible Spending Account 52

Flexible Spending Account 401(k) Health Savings Account Flexible Spending 52

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.

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

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

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

PeopleKeep

MAY 20, 2021

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). 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 Account 98

Flexible Spending Account Health Savings Account Flexible Spending Healthcare 98

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

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?

Flexible Spending Account 98

Flexible Spending Account IT Flexible Spending Taxes 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 96

Flexible Spending Account 401(k) Flexible Spending Deductions 96

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

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?

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account IT 52

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.

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 97

Flexible Spending Account Employment Flexible Spending Deductions 97

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.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

WEX Inc.

AUGUST 2, 2023

A flexible spending account (FSA) allows participants to save money by setting aside pre-tax dollars to pay for eligible medical, dental , vision and dependent care expenses incurred by you, your spouse, or your eligible dependents.

Flexible Spending Account 98

Flexible Spending Account Deductions Deductible Health 98

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.

Flexible Spending Account 70

Flexible Spending Account IT Flexible Spending Medical 70

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. 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. Need help submitting receipts? Click here.

Flexible Spending Account 75

Flexible Spending Account Flexible Spending Medical Food 75

BerniePortal

SEPTEMBER 15, 2021

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. Dependent care refers to a benefit which offers support for those employees who need help paying for their dependents.

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. Each dollar going into a pre-tax benefit account saves you 30 to 40 cents per dollar.

Taxes 98

Taxes 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. However, there are distinctions when it comes to account funding. *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

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. What is an HSA? What is an FSA?

Medical 52

Medical Flexible Spending Account Health Savings Account Flexible Spending 52

WEX Inc.

SEPTEMBER 7, 2023

Flexible spending accounts (FSAs) are a powerful tool for individuals and employers to save money on healthcare and dependent care expenses. Most employees are about to have the opportunity to re-evaluate their benefits options during open enrollment.

Flexible Spending Account 98

Flexible Spending Account Take Home Pay Flexible Spending Healthcare 98

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

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.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Flexible Spending Benefits Package 52

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!

Flexible Spending Account 81

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

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.

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.

Flexible Spending Account 90

Flexible Spending Account Flexible Spending Health Savings Account Food 90

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.

Utilities 52

Utilities Flexible Spending Account Flexible Spending Medical 52

Benefit Resource Inc.

DECEMBER 8, 2023

Portability: Unlike Flexible Spending Accounts (FSAs), funds in an HSA roll over from year to year, allowing account holders to accumulate savings over time. Contributions are tax-deductible, earnings grow tax-free, and withdrawals for qualified medical expenses are also tax-free.

Health Savings Account 98

Health Savings Account Flexible Spending Account Healthcare Taxes 98