InterWest Insurance Services

NOVEMBER 10, 2022

These workers are likely going uncovered for their health insurance and risk serious outlays if they have to see a doctor or go to the emergency room. They also miss out on preventative services that insurers are required to provide without cost-sharing and that can help them maintain their health.

401(k) 97

401(k) Health Savings Account Health Insurance Insurance 97

InterWest Insurance Services

MARCH 16, 2023

The poll of 26 health benefits decision-makers at large firms, carried out by The Commonwealth Fund and the Employee Benefits Research Institute (EBRI), found that despite rising premium and health care costs, they felt obligated to offer health insurance instead of shunting employees to exchanges.

Health Insurance 98

Health Insurance Employment Out of Pocket Cost Health Savings Account 98

Insperity

MAY 13, 2015

If you’re shopping for group health insurance for your company the first or second time around, it can be hard to make a confident choice. Not to mention, the Affordable Care Act (ACA) has changed the group health insurance market considerably. Health Savings Accounts. The account holder (i.e.,

Health Insurance 83

Health Insurance Insurance Out of Pocket Cost Health Savings Account 83

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.

Benefits Package 52

Benefits Package Flexible Spending Account Health Savings Account Flexible Spending 52

WEX Inc.

SEPTEMBER 14, 2023

When approaching open enrollment, do … Evaluate available health insurance plans. Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans. Will anyone in your family have anticipated healthcare costs in the upcoming year?

401(k) 98

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

InterWest Insurance Services

JUNE 16, 2022

One in five workers surveyed said that health care and health insurance are a major factor when deciding to accept a job, compared with only 13% of human resources executives, according to the “2022 Health at Work” survey by Quest Diagnostics.

401(k) 98

401(k) Health Insurance Health Savings Account Insurance 98

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. Fortunately, there is another option: a health reimbursement arrangement (HRA). Qualified medical expenses. How HRAs work.

Medical 98

Medical Health Insurance Out of Pocket Cost Deductions 98

BerniePortal

DECEMBER 20, 2021

Of course, not all medical expenses are covered by an individual’s health insurance plan. A health savings account is an excellent employee benefit to accompany a high-deductible health plan, and account-holders should be encouraged to take advantage of these tax-free funds.

Health Savings Account 96

Health Savings Account Health Insurance Deductions Deductible 96

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. However, your eligibility for either account can be influenced by the health plan you choose.

Deductions 98

Deductions Deductible Healthcare Flexible Spending Account 98

Corporate Synergies

FEBRUARY 11, 2019

A new father outlines requirements with his Baby Health Insurance Playbook. The same can be said for insuring a new dependent. To plan for newborn healthcare benefits, parents need a baby health insurance playbook. The Baby Health Insurance Playbook isn’t really a book. As Seen In.

Health Insurance 47

Health Insurance Insurance Insurance Carriers Out of Pocket Cost 47

Higginbotham

JANUARY 12, 2024

Health accounts or arrangements are designed to cover the costs of eligible health care services, typically including medical , vision and dental expenses. These setups can often provide substantial tax benefits as well. Taxes: Withdrawals are not typically subject to income tax, and contributions may be tax-free as well.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Deductions Deductible 52

BerniePortal

JANUARY 22, 2020

Trying to beat the tax time rush? Mid-January marks the start of tax season! Now's a good time for HR to advise employees to review paycheck withholdings and health care items. Along with the new W-4, the IRS has updated its online tax withholding estimator. Review Health Savings Account.

Taxes 64

Taxes Health Savings Account Health Insurance Medical 64

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

Benefit Resource Inc.

JANUARY 3, 2022

Even with health insurance, labor and delivery can cost around $5,000, and without insurance, it can be upwards of $40,000. Fortunately, one great way to help with out-of-pocket costs is utilizing a Health Savings Account (HSA). Switch to a high-deductible health plan. Let’s Start from the Beginning.

Taxes 72

Taxes 401(k) Out of Pocket Cost Health Savings Account 72

PeopleKeep

NOVEMBER 12, 2021

If you’re looking to supplement your organization’s group health insurance plan to help cover your employees’ out-of-pocket costs, you have two main options: Section 105 plans , such as the group coverage HRAs (GCHRAs), and Section 125 cafeteria plans , such as health savings accounts (HSAs).

Health Savings Account 52

Health Savings Account Out of Pocket Cost Health Insurance Deductions 52

BerniePortal

MAY 11, 2021

The IRS recently issued new 2022 contribution limits for health savings accounts (HSA), which represent the total amount of tax-advantaged dollars that participants can deposit into these accounts. Find out what these limits are and how employers can alert employees about the changes.

Health Savings Account 81

Health Savings Account Health Insurance Deductions Deductible 81

InterWest Insurance Services

JANUARY 27, 2023

Many insurers and/or providers have apps to help people access care and manage their health. Don’t cut back on health benefits — With the rising health insurance premiums, it may be tempting to offer high-deductible health plans with even higher deductibles. Funds are not taxed when withdrawn, either.

Out of Pocket Cost 98

Out of Pocket Cost 401(k) Deductions Deductible 98

Higginbotham

NOVEMBER 28, 2022

Some are turning to Health Savings Accounts (HSAs). Although HSAs won’t work for everyone, the benefits of an HSA account make this an appealing option for some individuals. What is a Health Savings Account (HSA)? An HSA is a special type of savings account. HSAs are portable.

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductions Deductible 52

InterWest Insurance Services

JUNE 2, 2023

Employers offer flexible savings accounts and health savings accounts to their employees so they can build up funds with pre-tax dollars to pay for health care and related expenses.

Out of Pocket Cost 98

Out of Pocket Cost Health Savings Account Medical Health Insurance 98

InterWest Insurance Services

NOVEMBER 25, 2022

The IRS has released the 2023 maximum contribution amounts for health savings accounts and flexible spending accounts. The changes, which the IRS releases in November each year, will affect contribution limits for HSAs, FSAs and 401(k) and other retirement accounts. 3,000 for family coverage (up $200).

401(k) 98

401(k) Deductions Deductible Flexible Spending Account 98

Health Consultants Group

OCTOBER 1, 2021

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. Accident and Health Benefits . Group-term life insurance

Employee Benefits 86

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

WEX Inc.

JANUARY 4, 2023

COBRA can provide important health insurance security when you’ve experienced job loss or another qualifying event. And election of COBRA can affect your ability to use the reimbursement accounts in which you were participating prior to your COBRA eligibility. 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

Insperity

MAY 13, 2015

If you’re shopping for group health insurance for your company the first or second time around, it can be hard to make a confident choice. Not to mention, the Affordable Care Act (ACA) has changed the group health insurance market considerably. Health Savings Accounts. The account holder (i.e.,

Health Insurance 42

Health Insurance Insurance Out of Pocket Cost Health Savings Account 42

PeopleKeep

OCTOBER 29, 2021

Employers offering a high deductible health plan (HDHP) have several ways to offset the higher out-of-pocket costs and make the benefit more meaningful for employees. One way is to offer a health savings account (HSA) alongside the HDHP.

Out of Pocket Cost 52

Out of Pocket Cost Health Savings Account Health Insurance Deductions 52

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

Business Management Daily

APRIL 25, 2024

Taxable vs. Non-taxable Benefits are always tax-deductible, aren’t they? Employees can be taxed on some high-value benefits when they are considered part of the employee’s compensation package. These are small perks or gifts from employers that are so minor in value that it would be impractical to track them for tax purposes.

Taxes 52

Taxes Retirement Plan Employee Stock Option Bonuses 52

Best Money Moves

AUGUST 18, 2021

Accessible and comprehensive health benefits. Over half of all Americans receive health insurance from their employers, according to 2019 census data. So it’s not surprising that in a 2020 survey of 2000 multigenerational participants, dental and vision insurance topped the list of most wanted Employee Benefits.

Health Insurance 106

Health Insurance Health Savings Account Insurance Benefits Package 106

PeopleKeep

OCTOBER 26, 2020

The percentage of workers covered under HDHP plans has increased from four percent of all employer-sponsored health insurance plans in 2006 to 31 percent in 2020. A high deductible health plan (HDHP) paired with a Health Savings Account (HSA) is growing in popularity because it allows employees to pay for medical expenses tax-free.

Deductions 62

Deductions Deductible Health Savings Account Health Insurance 62

Benefit Resource Inc.

OCTOBER 11, 2018

What is a pre-tax benefit account? A pre-tax benefit account allows you to set aside money from your paycheck before taxes to use for IRS-approved purchases. The items you can pay for through a pre-tax benefit account depends on which plan(s) you have. Health Savings Account.

Taxes 74

Taxes Health Savings Account Medical Deductions 74

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

Higginbotham

DECEMBER 8, 2023

A Premium Only Plan is an option that may offer significant tax savings for all involved parties. With a POP plan, employees can use their pre-tax compensation to buy a group insurance plan or other qualifying benefit. Employees typically pay for their cafeteria plan insurance premiums using salary reduction agreements.

Deductions 52

Deductions Deductible Taxes Payroll 52

PeopleKeep

MARCH 14, 2022

Many organizations provide a health savings account (HSA) to their employees to offset rising healthcare costs. While HSAs are employee-owned accounts, many employers wonder if they can contribute to their employees’ HSAs, and—if so—how much. But employer contributions to HSA rules can be challenging to manage.

Health Savings Account 98

Health Savings Account Employment Benefits Package Healthcare 98

COMPackage

AUGUST 10, 2023

Nearly all US companies guarantee access to 401(k) and health insurance. Many administrators often think that this time off is a part of an employee’s pay, but is it really any different than health insurance? Aflac supplemental insurance) should highlight these. Over time, it can grow into quite an investment.

401(k) 52

401(k) Health Savings Account Health Insurance PTO 52

Business Management Daily

APRIL 29, 2024

Different benefits appeal to different teams, but what matters most is providing more than just the bare minimum—health insurance, workers’ compensation, and a competitive salary. Health & wellness Insurance plans are expensive, especially in the U.S. Let IRS Publication 15-B be your tax guide to fringe benefits.

Out of Pocket Cost 84

Out of Pocket Cost PTO 401(k) Deductions 84

Higginbotham

JUNE 9, 2023

P CORI Fees Due July 31, 2023 The Affordable Care Act (ACA) requires health insurance issuers and self-insured plan sponsors to pay Patient-Centered Outcomes Research Institute fees (PCORI fees). The fees are reported and paid annually using IRS Form 720 (Quarterly Federal Excise Tax Return). March 2022 July 31, 2023 $2.79

Deductions 52

Deductions Deductible Health Insurance Taxes 52

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?” Health Savings Accounts are not subject to COBRA, but they play an important role in benefits continuation. Health Savings Accounts tend to get a little trickier.

Taxes 40

Taxes Flexible Spending Account Health Savings Account Flexible Spending 40

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. Each type of benefit can help you save money in different ways.

Employee Benefits 52

Employee Benefits Flexible Spending Account Flexible Spending Health Savings Account 52