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Flexible Spending Account Contribution Limit Climbs

InterWest Insurance Services

The IRS recently announced that the annual contribution limit for flexible spending accounts will rise to $3,200 in 2024, up $150 from this year. Also, employees will be able to carry over up to $640 next year into 2025 if they have funds left over in their account, if their employer allows it (it’s optional).

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2022 Health Insurance Outlook, Changes

InterWest Insurance Services

In addition, new rulemaking is likely to be introduced in 2022 that will affect health plans, including non-discrimination rules for wellness plans and new rules governing what must be included on insurance plan ID cards. The CAA created a number of new requirements that affect health insurance and coverage. More guidance coming.

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Mid-Year Financial Tweaks and Tasks

Money Talk

Flexible Spending Account (FSA) Tweak - Like HSAs, you know your health care spending so far. Search for banks that offer attractive rates and FDIC insurance and consider moving your money. Another cash equivalent asset to consider is FDIC-insured certificates of deposit (CDs) sold by online banks and brokerage firms.

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What does coinsurance mean in health insurance?

Higginbotham

You’re reading your health insurance policy and come across a coinsurance clause. Here’s what you need to know about this common insurance term. This is called cost sharing, and it’s common in many types of insurance. Cost sharing helps insurance companies and policyholders achieve certain goals.

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Compare: Medical FSA and Dependent Care FSA

Benefit Resource Inc.

If you’re wondering what the difference is between a Medical Flexible Spending Account (Medical FSA) and a Dependent Care Flexible Spending Account (DC FSA), you are not alone. However, you cannot use your Medical FSA to pay for your insurance premiums. Can I pay my deductible with my Medical FSA?

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How to offer health insurance as a small business

Higginbotham

Although some small business owners may feel overwhelmed by the prospect of offering health insurance and other benefits, the many advantages can make the effort worthwhile. However, many small employers decide to offer health insurance anyway. Health insurance matters to employees. Census Bureau says that 54.3

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Maximizing Health Savings and Financial Flexibility through a Well-Designed Benefits Package

Benefit Resource Inc.

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.