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?

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Money Talk

JUNE 28, 2023

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

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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.

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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)? This documentation can typically be sent through an online account, mobile app, fax, or mail. Check out our podcast episode below! It is not legal or tax advice.

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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.

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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.

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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? It is not legal, financial, or tax advice.

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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. Surgeries such as LASIK or to treat cataracts are generally eligible for reimbursement from both accounts.

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HR Digest

MAY 21, 2023

Health care flexible spending accounts 3. Flexible scheduling 11. Introducing the employee benefits package to the employees 6. Create a plan to review the employee benefits package routinely Business Owner and Manager together can design employer benefits package as it is key to attracting and retaining top talent.

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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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PeopleKeep

AUGUST 16, 2021

One important choice you’ll need to make is whether you want to combine your HRA with other account-based health plans your employer may offer, like a flexible spending account (FSA).

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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. You can also use your app or online account to upload your Reimbursement Request Form. It’s a smart way to save money on expenses such as childcare or elderly care for a dependent.

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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?

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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.

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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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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. And in the remaining instances when more documentation is needed, our participants can easily upload it via the benefits mobile app or through their online accounts.

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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).

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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. I have money in my FSA left over at the end of the year. What happens to it?

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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. 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. 1) Do your research on eligibility. Click here.

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Benefit Resource Inc.

APRIL 7, 2023

BONUS: ID Theft Services are comprehensive and can cover your bank accounts, medical IDs, social security numbers and even email addresses. 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.

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Benefit Resource Inc.

JANUARY 4, 2024

How do I access the funds in my account? Depending on the setup of your pre-tax account, there may be a few ways to access funds. Benefits Card: If you have a debit card associated with your account, you can swipe it at the point of sale for instant access to funds for eligible items or services. Additional questions?

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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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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. Let’s take a look. What you can do: Education is key.

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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. This will help you determine how much to contribute to your account.

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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! Sunscreen: If you’re going to be spending a lot of time in the sun, sunscreen is a must-have. Eye care: Spending time in the sun can be hard on your eyes.

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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! Don’t wait until December to spend your funds.

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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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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.

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Money Talk

MAY 18, 2022

2021) or 90% of current year (2022) tax liability using a W-4 form at work for job-related income tax withholding; withholding for Social Security, a pension, and required minimum distributions through account custodians; and/or quarterly estimated payments using IRS Form 1040-ES. They are a great retirement savings tool.

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Benefit Resource Inc.

DECEMBER 8, 2023

As we celebrate the 20th anniversary of Health Savings Accounts (HSAs), it’s time to reflect on the transformative impact this financial tool has had on healthcare and personal finance. 20 Years and Counting Health Savings Accounts have come a long way since their inception 20 years ago.

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WEX Inc.

FEBRUARY 23, 2023

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. There are a variety of activities related to your account that you want to stay on top of by signing up for text alerts. How do you do this?

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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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Employee Benefits

OCTOBER 19, 2023

It has already introduced Initiatives that support the pledge, such as flexible working schedules, increased availability of temperature control and easy access to sanitary products. Cummins will also provide additional support through its Women’s Empowerment Network.

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Benefit Resource Inc.

FEBRUARY 13, 2024

Congratulations on enrolling in a Flexible Spending Account (FSA)! The key to a smooth reimbursement process lies in understanding the crucial elements of proper expense documentation and ensuring your receipt answers 5 fundamental questions. Verification ensures services meet necessary standards and regulations.

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HR Lineup

MAY 9, 2023

In addition to health insurance and retirement savings plans, Pazcare also offers flexible spending accounts (FSAs). FSAs are pre-tax accounts that employees can use to pay for eligible healthcare expenses, such as medical bills or prescriptions. Another employee benefit that Pazcare offers is retirement savings plans.

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Benefit Resource Inc.

MARCH 21, 2023

Studies show that when employees feel supported by their employer, whether it be through offering flexible hours or providing access to counseling services or other forms of support, they are more likely to be engaged in their work and produce better results. Check out our podcast episode: Mental Health & the Workplace or visit our blog.

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Benefit Resource Inc.

JULY 19, 2023

Offering healthcare financial tools such as health savings accounts (HSAs) and flexible spending accounts (FSAs) are an important part of any employee’s suite of employee benefits.

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