Benefit Resource Inc.

JULY 8, 2021

If you have a Medical Flexible Spending Account (FSA), you may have the ability to take leftover funds from one plan year and transfer them to the next. Does your plan have the FSA carryover feature? Let’s take a look at this example: Let’s say on December 31, 2021, you have $300 left in your Medical FSA.

Flexible Spending Account 40

Flexible Spending Account Flexible Spending Medical Taxes 40

Benefit Resource Inc.

APRIL 29, 2020

Medical FSAs : Because COVID-19 is still not considered a qualifying event, participants cannot make election changes to their Medical FSAs. Check out our blog on Medical FSAs and COVID-19 for more information. Question 1: What information/tips should employers know about election changes amid COVID-19?

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Employment Medical Taxes Transportation 52

Benefit Resource Inc.

MAY 6, 2020

Employers can change any plan’s run-out period. In addition, Extended Grace Periods can be added for Medical and Dependent Care FSAs. Employers should know the following items: Dependent Care FSA Election Changes – Many participants in Dependent Care FSAs are likely making election changes due to COVID-19.

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Taxes Medical Payroll Employment 52

AssuredPartners

DECEMBER 23, 2020

Below please find some highlights for those factors that may affect health and welfare plans. "},{"attributes":{"italic":true},"insert":"This assumes the President signs the bill into law—he is currently threatening to veto it in favor of either a clean bill (stand-alone bill) or that the amount of COVID-stimulus payments to eligible households be (..)

Health and Welfare 40

Health and Welfare Flexible Spending Account Flexible Spending Consulting 40

Benefit Resource Inc.

JANUARY 8, 2019

Not all FSAs end the same. The first thing to know is how long you have to use the money in your FSA. Your plan will be set-up with one of three options: Rollover, Extended Grace Period and standard forfeiture. For those of you with an employer that offers a rollover, up to $500 can roll into the next year.

Health Savings Account 51

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Benefit Resource Inc.

OCTOBER 20, 2020

Flexible Spending Accounts (FSAs) have always relied on a certain level of predictability when it comes time to estimating your election. Extended Grace Period. But, with a year like 2020, it might take just a few extra steps to COVID-proof your election for 2021. Estimate your Guaranteed Expenses. Forfeiture. Looking Ahead.

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Flexible Spending Account Flexible Spending Medical Taxes 40

Benefit Resource Inc.

DECEMBER 27, 2018

Frustration can be common among early FSA users. It usually occurs because your FSA card didn’t work the way you expected. Thankfully, the frustration involved with FSAs can often be avoided. Avoiding Frustration with your FSA card. Find out if rollover or EGP are options. Frustration. Know what is eligible.

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Flexible Spending Account Flexible Spending Taxes Medical 40

Business Management Daily

JANUARY 5, 2021

Cafeteria plans with plan years ending in 2020 or 2021 may allow employees who have health flexible spending accounts or dependent care assistance plan accounts to rollover unused amounts into the next plan year. Alternatively, health FSAs and DCAPs may extend their grace periods to 12 months after the plan year ends, from three months.

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Benefit Resource Inc.

DECEMBER 20, 2018

If you have an FSA, you know it’s a use-or-lose account and the “lose” time frame is approaching. (If Some of you may have a company that offers a rollover or Extended Grace Period. Here are 7 easy (but practical) ways to use up your FSA money in 7 days. Pay with your FSA card at check-out. (Or

Out of Pocket Cost 40

Out of Pocket Cost Flexible Spending Account Flexible Spending Healthcare 40

Benefit Resource Inc.

NOVEMBER 6, 2018

If you have low enrollment rates for Flexible Spending Accounts (FSAs), you aren’t alone. While health insurance benefits are front and center during open enrollment, FSAs often feel like a well-kept secret or afterthought. Finally, if you have a rollover or Extended Grace Period, promote these options during Open Enrollment.

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Flexible Spending Account Flexible Spending Medical Health Insurance 45

Business Management Daily

SEPTEMBER 9, 2021

Health flexible spending accounts (FSAs) are probably the most common add-on accounts. FSAs are primarily funded by employees through pretax deductions, although employers may make contributions. Most FSAs are offered through cafeteria plans. Eligibility: FSAs are generally available only to current employees.

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Flexible Spending Account Health Savings Account Employment Flexible Spending 52

Empuls

JULY 11, 2023

Flexible spending accounts (FSAs) Flexible Spending Accounts (FSAs) allow employees to set aside a portion of their pre-tax income to pay for eligible medical or dependent care expenses. FSAs can be used for various expenses such as medical co-pays, prescription medications, childcare, and more. Want to know how?

Employee Benefits 40

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Benefit Resource Inc.

NOVEMBER 1, 2018

Loosen Medical FSA Restrictions. Medical FSAs have the unique benefit of being available on the first day of a plan year. If these restrictions were removed, Medical FSAs would flourish. Allow Medical FSA funds to be used for out-of-pocket drugs and medicines without a prescription. Increase Dependent Care FSA Limits.

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Benefit Resource Inc.

DECEMBER 22, 2020

Congress has finally signaled much needed relief for Health FSAs and Dependent Care FSAs in the passage of the year-end spending bill. What relief does the year-end spending bill provide to FSAs? The year-end spending bill provides five opportunities for employers to ease concerns over losing FSA funds.

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