Benefit Resource Inc.

NOVEMBER 8, 2023

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. Maybe you didn’t realize there is more than one type of FSA to choose from. Great question! It depends on a few factors.

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Medical Flexible Spending Account Flexible Spending Deductions 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.

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WEX Inc.

OCTOBER 4, 2023

Participating in a health savings account (HSA) or flexible spending account (FSA) is a great way to save money. Flexible spending account An FSA is an employer-owned account that you use to set aside funds for qualified expenses. Health savings account funds can be invested for potential growth of your HSA funds.

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

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

Money Talk

JUNE 28, 2023

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

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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. How’s your sunscreen stock?

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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

Benefit Resource Inc.

JANUARY 4, 2024

Medical Flexible Spending Accounts (FSA) and Dependent Care FSAs are both governed by IRS Section 125. 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. This is the golden question that every new plan participant asks. Additional questions?

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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)? If you’re a first-time medical FSA participant, you may not be familiar with FSA definitions and rules. Check out our podcast episode below! It is not legal or tax advice.

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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. What are fertility benefits?

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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. Let’s explore a few common vision-related questions as it relates to your HSA or medical FSA. Can vision expenses be covered by HSAs and FSAs?

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Health Flexible Spending Account Health Savings Account Flexible Spending 98

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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Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

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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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

Benefit Resource Inc.

APRIL 7, 2023

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. ID Theft Services When your card goes missing or your identity is compromised, your initial reaction might be panic.

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Taxes Flexible Spending Account Health Savings Account Flexible Spending 98

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. These benefits not only help employees save money but also make it easier for them to invest in their well-being.

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Flexible Spending Account Flexible Spending Health Savings Account Food 90

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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Flexible Spending Account Flexible Spending Healthcare Taxes 98

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. Managing a Flexible Spending Account can be stressful, especially when you have excess funds. Check out these 4 quick tips to make the most of your FSA. 1) Do your research on eligibility. Click here.

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Flexible Spending Account Flexible Spending Medical Food 75

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?

Medical 98

Medical Flexible Spending Account Health Savings Account Flexible Spending 98

WEX Inc.

JULY 9, 2023

A dependent care flexible spending account lets participants set aside pre-tax dollars to help pay for dependent care. Contributing to this benefit reduces taxable income and spreads the benefits of pre-tax dollars throughout the year, helping you save 30 percent or more on your dependent care costs. It is not legal or tax advice.

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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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Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

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). When making your decision, there are important regulations to keep in mind to make sure you’re coordinating the two health plans appropriately.

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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). Flexible Spending Accounts are designed to provide employees with an opportunity to set aside funds on a pre-tax basis to pay for eligible out-of-pocket medical expenses. What is an HSA? What is an FSA?

Medical 52

Medical Flexible Spending Account Health Savings Account Flexible Spending 52

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.

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. Let’s explore these questions and discover where to find the necessary information.

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Flexible Spending Account Flexible Spending Medical Insurance 52

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. March 15th.

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Flexible Spending Account Family and Medical Leave Act Flexible Spending Taxes 81

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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Utilities Flexible Spending Account Flexible Spending Medical 52

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. When you’re choosing your third-party administrator, look for one with a proven track record of making the process of submitting substantiation as easy as possible for your employees.

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Flexible Spending Account Flexible Spending Taxes Medical 98

Stratus.HR

JANUARY 24, 2022

For example, if you contributed to a health plan, retirement plan, or had a Health Savings Account (HSA), Health Reimbursement Account (HRA), or a Flexible Spending Account (FSA), those dollars are pre-tax. How do I get my W-2 if my address changed? Your paper W-2 may have already been mailed to your former address. contact-form-7].

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Taxes Payroll IT Deductions 64

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.

Flexible Spending Account 96

Flexible Spending Account 401(k) Flexible Spending Deductions 96

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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Flexible Spending Account Deductions Deductible Health 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.

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

Benefit Resource Inc.

DECEMBER 30, 2022

Choosing between a Health Savings Account (HSA) and a Flexible Spending Account (FSA) can be overwhelming. Flexible Spending Accounts, or FSAs for short, are widely known as a great way to save up and use pre-tax funds for medical expenses. Submitting claims and receipts and checking balances. SUBMITTING CLAIMS.

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Taxes Flexible Spending Account Health Savings Account Flexible Spending 75

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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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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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.

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Money Talk

MAY 18, 2022

Five examples are tax-loss harvesting, Roth IRA conversions, qualified charitable contributions (age 70½ +), setting up a donor advised fund, and increased contributions to a tax-deferred retirement savings plan, health savings account or HSA (if eligible), or flexible spending account or FSA (if available).

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Taxes 401(k) Deductions Deductible 262

Benefit Resource Inc.

OCTOBER 26, 2023

This Halloween season, we’re here to help you unravel the mysteries of Flexible Spending Accounts (FSA) and show you how to make the most of your FSA funds while embracing the spirit of the season. Wait, what? That’s right! It’s time to see clearly and ensure you don’t miss out on any of the Halloween fun.

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Benefit Resource Inc.

AUGUST 25, 2023

This is understandable given that flexible spending accounts have been available longer and are likely shaping people’s opinions regarding HSAs. This is understandable given that flexible spending accounts have been available longer and are likely shaping people’s opinions regarding HSAs.

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