WEX Inc.

OCTOBER 4, 2023

Participating in a health savings account (HSA) or flexible spending account (FSA) is a great way to save money. Health savings account An HSA is an individually owned benefits plan funded by you or your employer that lets you save on purchases of eligible expenses.

401(k) 98

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

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.

Benefits Package 52

Benefits Package Flexible Spending Account Health Savings Account Flexible Spending 52

Benefit Resource Inc.

DECEMBER 30, 2022

Pre-tax benefits are growing in popularity amongst employers and employees alike. This is because they offer a great way to save on taxes while still being able to use funds for medical, dependent care, and other expenses. In the last year alone, we’ve learned a lot about pre-tax benefits and how to maximize their potential.

Taxes 75

Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

Benefit Resource Inc.

JANUARY 3, 2023

Whether you’re looking to retire, advance your career, or prioritize your health, now is the perfect time to start planning your journey. If you’re in the 70% of people who have health-related goals for 2023, let’s take a look at how pre-tax benefits can help set goals and prioritize your health this year and beyond.

Utilities 98

Utilities Taxes Flexible Spending Account Flexible Spending 98

Benefit Resource Inc.

MARCH 28, 2024

Pre-tax benefits are a powerful tool for saving money and maximizing your income. From flexible spending accounts (FSAs) to health savings accounts (HSAs) and commuter benefits, these options offer significant advantages if managed wisely. Plus, the funds can roll over year after year.

Flexible Spending Account 52

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

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? It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

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. It is not legal, financial, or tax advice. OTC medicines. Allergy testing.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

SEPTEMBER 21, 2023

Visual health is a vital component of overall well-being, and unexpected eye-related expenses can put a strain on your finances. 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.

Health 98

Health 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.

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 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. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.

Medical 98

Medical Flexible Spending Account Health Savings Account Flexible Spending 98

Benefit Resource Inc.

NOVEMBER 6, 2023

A well-rounded approach to health and wellness initiatives can make a significant difference in maintaining a motivated and engaged workforce. Let’s explore effective strategies for promoting employee well-being during the winter months and the role of pre-tax benefits in achieving this goal.

Flexible Spending Account 90

Flexible Spending Account Flexible Spending Health Savings Account Food 90

WEX Inc.

SEPTEMBER 14, 2023

If you rarely go to the doctor or would like to enroll in a health savings account (HSA) , an HSA-eligible health plan may be right for you! For example, do you have any new dependents who have healthcare needs and could be covered by a pre-tax benefits plan? Open enrollment comes just once a year.

401(k) 98

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

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

Benefit Resource Inc.

JANUARY 14, 2022

We’re here to provide you with a short guide to help you understand the required tax documents for your pre-tax benefits. . A Health Savings Account (HSA) is a savings account that provides tax-free contributions and potential tax deductions for qualified medical expenses incurred by the holder.

Taxes 40

Taxes Flexible Spending Account Health Savings Account Flexible Spending 40

Benefit Resource Inc.

APRIL 18, 2023

Fortunately, there are ways to increase your financial well-being through medical savings. One such way is by utilizing health savings accounts (HSAs) and flexible spending accounts (FSAs). The HSA is combined with an HSA-qualified health plan (also referred to as a high deductible health plan).

Medical 52

Medical Flexible Spending Account Health Savings Account Flexible Spending 52

Benefit Resource Inc.

MARCH 20, 2024

“Every day, we have the privilege of working closely with thousands of employers, employees, and consultants, fostering relationships built on trust to simplify benefits and offer tax-advantaged savings and peace of mind,” said Jennie Boeckmann, BRI regional sales manager. Learn more at inspirafinancial.com.

Health Savings Account 52

Health Savings Account Flexible Spending Account Flexible Spending Taxes 52

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. Add dependents Your HSA or FSA may cover your dependents’ costs if the dependents are claimed on your tax return.

Flexible Spending Account 98

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

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. It is not legal or tax advice. What is an FSA?

Flexible Spending Account 98

Flexible Spending Account Deductions Deductible Health 98

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. Health FSAs. . The new limits are set forth below. Carryover Limit.

Transportation 52

Transportation Flexible Spending Account Flexible Spending Health Savings Account 52

WEX Inc.

SEPTEMBER 12, 2023

Understanding HSAs The number of health savings accounts (HSAs) has doubled nationwide in the last seven years , as more Americans turn to these accounts as a way to save on healthcare costs and prepare for retirement. HRAs provide an extra layer of financial support for medical needs beyond insurance coverage.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Life Insurance 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. What you can do: Address this concern by emphasizing the savings potential of an FSA. It is not legal, financial, or tax advice. Download now!

Flexible Spending Account 98

Flexible Spending Account Take Home Pay Flexible Spending Healthcare 98

PeopleKeep

JANUARY 18, 2023

Gaining in popularity as a type of consumer driven health plans (CDHPs), health reimbursement arrangements (HRAs) allow employees to take better charge of their healthcare and budget for themselves and their families. But if you’re new to this type of benefit, you may have questions about whether any special rules apply to HRAs.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Flexible Spending Healthcare 52

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.

Out of Pocket Cost 83

Out of Pocket Cost Flexible Spending Account Flexible Spending Health Savings Account 83

WEX Inc.

MAY 24, 2023

It’s about what a health savings account or a flexible spending account can do for them." It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers. The information in this blog post is for educational purposes only.

Flexible Spending Account 97

Flexible Spending Account Health Savings Account Benefit Providers Flexible Spending 97

Benefit Resource Inc.

MARCH 31, 2022

Health and medical expenses are covered by a Flexible Spending Account or Medical FSA to promote general well-being. These 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! Use-It-Or-Lose-It.

Medical 75

Medical Flexible Spending Account Health Savings Account Flexible Spending 75

Stratus.HR

NOVEMBER 30, 2020

If you’re planning your tax-sheltered income for 2021, the IRS did not increase the $2,750 limit you can contribute to a health Flexible Spending Account (FSA). However, health savings account (HSA) participants will be able to contribute a little more in 2021.

Health Savings Account 52

Health Savings Account Flexible Spending Account Flexible Spending Taxes 52

Benefit Resource Inc.

MARCH 14, 2019

The name alone – “pre- tax benefit accounts” – implies there might be tax implications. You might be surprised to learn there are no tax implications for most of these benefits. Use these simple tips as your tax guide to pre-tax benefit accounts. Health Savings Account—Tax-time pay-offs.

Taxes 63

Taxes Health Savings Account Deductions Deductible 63

Higginbotham

JANUARY 12, 2024

Health accounts or arrangements are designed to cover the costs of eligible health care services, typically including medical , vision and dental expenses. These setups can often provide substantial tax benefits as well. Taxes: Withdrawals are not typically subject to income tax, and contributions may be tax-free as well.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Deductions Deductible 52

Benefit Resource Inc.

AUGUST 25, 2023

There are many common misconceptions regarding election changes when it comes to pre-tax benefit accounts. In fact, just more than 1 in 3 people understand when an election change can occur for a health savings account. However, there are no other restrictions on changing your pre-tax HSA elections.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Flexible Spending Medical 52

Benefit Resource Inc.

JANUARY 16, 2020

Incorporating lifestyle components into pre-tax accounts. The buzz phrase “health and wellness” is currently widely used to reference services or products that take a more holistic approach to care. So, how will this affect tax advantaged accounts like Flexible Spending Accounts and Health Reimbursement Accounts?

Health Savings Account 73

Health Savings Account Flexible Spending Account Flexible Spending Taxes 73

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. It is not legal or tax advice.

Flexible Spending Account 52

Flexible Spending Account Flexible Spending Health Savings Account IT 52

InterWest Insurance Services

NOVEMBER 25, 2022

The IRS has released the 2023 maximum contribution amounts for health savings accounts and flexible spending accounts. The changes, which the IRS releases in November each year, will affect contribution limits for HSAs, FSAs and 401(k) and other retirement accounts.

401(k) 98

401(k) Deductions Deductible Flexible Spending Account 98

WEX Inc.

JANUARY 4, 2023

And election of COBRA can affect your ability to use the reimbursement accounts in which you were participating prior to your COBRA eligibility. Health Savings Account (HSA) HSAs are individually owned accounts, so your HSA will stay with you no matter whether or how you qualify for COBRA.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

Genesis HR Solutions

MAY 2, 2023

TurboTax ) 401(k): Retirement plans named for the section of the tax code that governs them. ( IRS ) W-4: A form used by employers to withhold the proper amount of federal income tax from employees’ paychecks. ( TurboTax ) 401(k): Retirement plans named for the section of the tax code that governs them. ( Which ones did I miss?

Family and Medical Leave Act 52

Family and Medical Leave Act 401(k) Flexible Spending Account Health Savings Account 52

Benefit Resource Inc.

FEBRUARY 18, 2020

So, it is not surprising that most people get stumped by the question, “What is the link between pre-tax benefits and COBRA?” Health Savings Accounts are not subject to COBRA, but they play an important role in benefits continuation. Health Savings Accounts tend to get a little trickier.

Taxes 40

Taxes Flexible Spending Account Health Savings Account Flexible Spending 40

WEX Inc.

AUGUST 15, 2023

HSAs and FSAs as an option Health savings accounts (HSAs) and flexible spending accounts (FSAs) are among the pre-tax accounts you can contribute funds to and save money on healthcare costs. However, your eligibility for either account can be influenced by the health plan you choose.

Deductions 98

Deductions Deductible Healthcare Flexible Spending Account 98

WEX Inc.

JANUARY 3, 2023

Fortunately, your health savings account (HSA) is an employee-owned account, so it stays with you, even when you switch employers. An HSA comes with three key tax-free perks: Contributions are tax-free, earnings are tax-free, and withdrawals for eligible expenses are tax-free.

Education 52

Education Flexible Spending Account Health Savings Account Flexible Spending 52