Remove Flexible Spending Remove Healthcare Remove Out of Pocket Cost Remove Taxes
article thumbnail

Spring Cleaning with Your Eligible Expenses

Benefit Resource Inc.

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.

article thumbnail

Should I Enroll in a High Deductible Health Plan with an HSA?

Stratus.HR

Considering they have lower premiums and provide the ability to use pre-tax dollars to pay for out-of-pocket costs, what’s not to love? Well, there’s a flipside of HDHPs and HSAs that includes a higher deductible and added out-of-pocket costs. So how do you know if this is the right plan for you?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

5 Things You Didn’t Know About Your FSA

CorpStrat

One of the biggest financial challenges people in the US are facing is whether or not they’re able to afford healthcare. Healthcare costs have risen faster than inflation. In 2023, having some money set aside to cover these out-of-pocket costs is critical for most employees. Over-the-counter medicine.

article thumbnail

FSA eligible expenses — what purchases count?

Business Management Daily

Flexible Spending Accounts allow employees to set aside pre-tax dollars from their paycheck to use for medical or dependent care expenses. Here is what you need to know to figure out if an expense is FSA eligible. Healthcare FSA. The most commonly used FSA is the healthcare FSA. Healthcare FSAs.

article thumbnail

3 Ways to Survive Your Company’s Benefits Enrollment

Benefit Resource Inc.

We use an opt-in process to match you with the best health plan based on your lifestyle, as well as the best tax-free accounts based on your savings goals, which you provided on your date of hire” And then I’d go back to work. Do you have the ability to pay for out of pocket expenses? Flexible Spending Account.

article thumbnail

16+ types of employee benefits you should consider

Genesis HR Solutions

Flexible Spending Account (FSA). According to Healthcare.gov , a Flexible Spending Account (also known as a flexible spending arrangement) is a special account employees put money into that they use to pay for certain out-of-pocket health care costs. Health Savings Account (HSA).

401(k) 98
article thumbnail

My Life in Benefits Age 45: Mammogram Screening

Benefit Resource Inc.

If needed, our pre-tax health account would cover additional diagnostic tests, as well as hospital services, lab fees, and mastectomy-related special bras. Price transparency continues to be an issue in healthcare, but recent legislation has been aimed at repairing that. 4 Steps to be a Smart Healthcare Consumer.