Stratus.HR

JUNE 16, 2022

When you first filled out your W-4 tax form as a new employee, you probably didn’t think much about it afterwards. But what if you’re filing your taxes a year later and you discover you had fewer taxes withheld from your paycheck than expected. What Is the function of the W-4 tax form?

Taxes 71

Taxes Outsourcing Payroll Deductions Deductible 71

Higginbotham

JANUARY 27, 2023

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

Health Insurance 52

Health Insurance Insurance Benefits Package Out of Pocket Cost 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. For BRI Customers.

Taxes 40

Taxes Flexible Spending Account Health Savings Account Flexible Spending 40

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? Most people using fertility services pay thousands of dollars out of pocket without insurance. It is not legal or tax advice. What are fertility benefits?

Flexible Spending Account 98

Flexible Spending Account Health Savings Account Flexible Spending Medical 98

WEX Inc.

OCTOBER 4, 2023

Participating in a health savings account (HSA) or flexible spending account (FSA) is a great way to save money. You must be enrolled in a high-deductible health plan (HDHP) to be eligible, which lowers you insurance premiums. You won’t need to pay Social Security or Medicare tax on the funds going into the FSA.

401(k) 98

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

InterWest Insurance Services

OCTOBER 27, 2022

As health care costs continue rising and employees are being asked to shoulder more of the expense burden, you can help them by offering a tax-advantaged plan that allows them to save for medical expenses. Employees can save an average of 30% in federal, state and local taxes on items they already pay for out of pocket.

Flexible Spending Account 97

Flexible Spending Account Employment Flexible Spending Deductions 97

Money Talk

JUNE 29, 2022

In it, I urged a review of tax deductions/credits, tax withholding, budgeting/cash flow, flexible spending accounts, financial goal progress, and investment portfolio status. Insurance Check-Up - While stocks have trended downward so far in 2022, insurance premiums (homeowners, auto, health, etc.)

401(k) 245

401(k) Out of Pocket Cost Finance Flexible Spending Account 245

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)? A medical FSA is a tax-advantaged employee benefit that gives participants the opportunity to save on out-of-pocket medical, dental, and vision eligible expenses.

Medical 98

Medical Flexible Spending Account Flexible Spending Taxes 98

HR Digest

MAY 21, 2023

From mandated health insurance plans to free snacks, benefits and perks can play a big role in talent attraction and employee retention. Payroll taxes 2. Health insurance Those benefits provide a baseline of employee expectations. Health care flexible spending accounts 3. Health insurance 2. Overtime pay 3.

Benefits Package 105

Benefits Package 401(k) Employee Benefits Disability Insurance 105

WEX Inc.

AUGUST 15, 2023

Whether you're transitioning from your parents' insurance, landed your first full-time job, or are simply obtaining coverage for the first time, choosing health plans and employee benefits options can be overwhelming. Deductibles are the amount you must pay before your insurance coverage kicks in. It is not legal or tax advice.

Deductions 98

Deductions Deductible Healthcare Flexible Spending Account 98

WEX Inc.

SEPTEMBER 12, 2023

Exploring HSAs and FSAs HSAs and medical flexible spending accounts (FSAs) let you save money because the funds you contribute to them are pre-tax. Consider the following when evaluating these accounts: Tax benefit: Contributions to HSAs and FSAs are tax-deductible and reimbursements for qualified medical expenses are tax-free.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Life Insurance 52

Benefit Resource Inc.

APRIL 18, 2023

The cost of healthcare can be daunting, especially for those who do not have adequate insurance coverage or savings to cover medical expenses. One such way is by utilizing health savings accounts (HSAs) and flexible spending accounts (FSAs). HSAs and FSAs also offer flexibility in how you use your funds. What is an HSA?

Medical 52

Medical Flexible Spending Account Health Savings Account Flexible Spending 52

InterWest Insurance Services

MARCH 4, 2022

As rising health insurance premiums and out-of-pocket costs for health care are burdening workers, more employers are looking for ways to help their staff put aside money for those expenses. Employers fund these accounts, which reimburse your staff for qualified medical expenses and, in some cases, insurance premiums. How HRAs work.

Medical 98

Medical Health Insurance Out of Pocket Cost Deductions 98

Qandle

JUNE 20, 2023

This includes employee details such as names, addresses, social security numbers, tax withholding information, bank account details for direct deposit, and any changes in employment status or compensation. This includes tax regulations, employment laws, minimum wage requirements, and any changes in payroll-related legislation.

Payroll 98

Payroll Flexible Spending Account Overtime Payroll Software 98

Genesis HR Solutions

JANUARY 24, 2023

In a separation of employment, unemployment insurance is available to the formerly employed individual which allows them to collect unemployment. Payroll deductions This item spells out each of the deductions the company withholds, including federal, state, and local taxes and other things, including voluntary deductions for benefits.

Family and Medical Leave Act 98

Family and Medical Leave Act Overtime Parental Leave Health and Welfare 98

Griffin Benefits

NOVEMBER 28, 2023

Plus, the PEO may not be as cost-effective these days for your expanding payroll, or maybe it’s time for the tax credits to start accruing to your company instead of the PEO. Here are key considerations: TIMING AND THE TAX YEAR If you can terminate the PEO relationship at the start of the calendar year, great.

Flexible Spending Account 64

Flexible Spending Account Workers’ Compensation Taxes Flexible Spending 64

Higginbotham

JANUARY 12, 2024

These setups can often provide substantial tax benefits as well. Health accounts can provide advantages to both the employer and the employee, including the following: Flexibility: It’s hard to find employee benefits that fit everyone’s needs. This can reduce the income taxes that employees owe.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Deductions Deductible 52

WEX Inc.

SEPTEMBER 14, 2023

When approaching open enrollment, do … Evaluate available health insurance plans. For example, do you have any new dependents who have healthcare needs and could be covered by a pre-tax benefits plan? Use available tools and resources to learn more about pre-tax benefits and to plan for the year ahead.

401(k) 98

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

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

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?” Technically speaking, an HSA (the account, not the insurance) is not subject to COBRA. By contrast, the underlying health insurance is subject to COBRA. This is the easy one.

Taxes 40

Taxes Flexible Spending Account Health Savings Account Flexible Spending 40

HR Lineup

MAY 9, 2023

One of the most significant employee benefits that Pazcare offers is health insurance. Health insurance is an essential component of employee benefits, and Pazcare recognizes the importance of it. In addition to health insurance and retirement savings plans, Pazcare also offers flexible spending accounts (FSAs).

401(k) 52

401(k) Flexible Spending Account Health Insurance PTO 52

InterWest Insurance Services

JULY 20, 2022

To help these new recruits get the most out of the benefits you offer, you can start by focusing on the following: School them on health insurance. To many new Gen Z recruits, signing up for health insurance and actually using their benefits is a foreign concept.

Education 98

Education 401(k) Deductions Deductible 98

InterWest Insurance Services

NOVEMBER 25, 2022

The IRS has released the 2023 maximum contribution amounts for health savings accounts and flexible spending accounts. HSAs allow your staff to set aside a portion of their pre-tax earnings into an account they can tap later to reimburse for qualified medical expenses, including copays, coinsurance, deductibles and medications.

401(k) 98

401(k) Deductions Deductible Flexible Spending Account 98

CorpStrat

FEBRUARY 22, 2023

People are already struggling to pay for the insurance premiums but on top of that, they’re afraid deductibles, prescriptions, and co-insurance might push them into the red. This is money that employees can set aside to pay for out of pocket health care costs and they won’t be taxed on it. It’s no wonder that they’re struggling.

Flexible Spending Account 52

Flexible Spending Account Out of Pocket Cost Flexible Spending Deductions 52

Higginbotham

OCTOBER 5, 2023

In today’s increasingly competitive job market, offering a basic health insurance package is no longer enough to attract and retain top talent. The Evolution of Employee Benefits Employee benefits have come a long way since the days of basic health insurance coverage with a savings retirement plan thrown in.

Health Insurance 52

Health Insurance Employee Benefits Insurance 401(k) 52

Health Consultants Group

OCTOBER 1, 2021

Flexible work options. Employees still want traditional options such as retirement plans, educational assistance, and health insurance. When you comply with their guidelines, the IRS doesn’t require you to withhold FICA, FUTA, Medicare, or income taxes from pre-tax contributions. Group-term life insurance .

Employee Benefits 86

Employee Benefits Family and Medical Leave Act Flexible Spending Account Health Savings Account 86

Genesis HR Solutions

SEPTEMBER 22, 2020

There are four major types of employee benefits many employers offer: medical insurance, life insurance, disability insurance, and retirement plans. Medical Insurance. Medical insurance is likely a no-brainer— it’s one of four major types of benefits most employers offer. Dental Insurance. Vision Insurance.

401(k) 98

401(k) Employee Benefits Disability Insurance roth 401(k) 98

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.

NOVEMBER 22, 2022

Pre-tax benefits save you money. With a pre-tax benefit, you’re able to deduct the cost of your benefits from your taxes before you calculate what you owe. That means you’ll end up paying less in taxes overall. With an HSA , you can use pre-tax dollars to pay for qualifying healthcare expenses.

Employee Benefits 52

Employee Benefits Flexible Spending Account Flexible Spending Health Savings Account 52

Benefit Resource Inc.

MARCH 12, 2019

This may be the shortest blog on pre-tax benefits you will ever read. We’re going to take 5 minutes to redefine 9 confusing pre-tax phrases used in pre-tax benefits. Pre-tax benefits. Pre-tax benefits are, in effect, a way to decrease your income before taxes so you pay less in taxes.

Taxes 63

Taxes Flexible Spending Account Health Savings Account Medical 63

WEX Inc.

JANUARY 4, 2023

COBRA can provide important health insurance security when you’ve experienced job loss or another qualifying event. And, if you are no longer enrolled in an HSA-eligible health plan, you can’t contribute to your HSA, but you can still spend your HSA funds at any time. It is not legal or tax advice. appeared first on WEX Inc.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

Benefit Resource Inc.

APRIL 7, 2022

The cost of having a baby can be overwhelming, even if you have insurance. Encourage employees to take advantage of pre-tax funds so they won’t be saddled with out-of-pocket expenses during their maternity leave. One great way is by setting up an FSA or HSA, both allow for tax savings on top of quality health care choices.

Taxes 40

Taxes Insurance Flexible Spending Management 40

WEX Inc.

SEPTEMBER 6, 2023

When asked what benefit they’d like to learn more about, pet insurance received the third-most responses. LSAs Lifestyle spending accounts (LSAs) can be customized by you to cover your employees’ pet-related expenses. Just like humans, pets can face unexpected health issues or accidents that may require veterinary attention.

Recruitment 59

Recruitment Flexible Spending Account Health Savings Account Medical 59

HR Lineup

MAY 11, 2023

Employers can choose from a range of pre-tax benefits, including health insurance, dental insurance, vision insurance, and other types of benefits. The PeopleKeep platform offers customizable benefits solutions for businesses of all sizes.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Benefits Package Flexible Spending 52

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). Are over-the-counter medicines eligible expenses under a Flexible Spending Account (FSA or Flex Spending)? What is a Health Savings Account (HSA)?

Health Savings Account 52

Health Savings Account Flexible Spending Account Flexible Spending Taxes 52

Benefit Resource Inc.

NOVEMBER 29, 2023

Take out a life insurance policy for added peace of mind. Did you know that HSA funds can be used to pay insurance premiums during unemployment (such as for COBRA coverage)? DentalPlans.com explains that dental insurance typically only covers you up to a specific limit. By age 65 (or 63.5

401(k) 98

401(k) Medical Retirement Plan Health Savings Account 98

Benefit Resource Inc.

JUNE 1, 2023

An additional tool can be pairing an HSA-HDHP with a Limited Flexible Spending Account (or Limited FSA). Employees can use two tax-advantaged accounts to cover many primary eligible expenses. In the end, employees walk away with lower premiums and two pre-tax accounts to keep even more money in their pockets.

Flexible Spending Account 52

Flexible Spending Account Healthcare Health Savings Account Deductions 52