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

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

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

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

JANUARY 18, 2024

With more than half of all private sector employees enrolled in high-deductible health plans , it’s important that employers have in place certain protocols to ensure that they are a success. HSAs are tax-advantaged accounts that allow enrollees to save up to pay qualified medical expenses.

Out of Pocket Cost 83

Out of Pocket Cost Deductions Deductible Voluntary Benefits 83

Higginbotham

JANUARY 12, 2024

When considering the three main types of health accounts (HRAs, HSAs and FSAs), it’s important to understand their pros and cons before deciding what to offer your employees. What are health accounts? These setups can often provide substantial tax benefits as well.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Deductions Deductible 52

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. That’s compared with only 37% of HR executives.

401(k) 98

401(k) Health Insurance Health Savings Account Insurance 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

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

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. For starters, let’s look at a few considerations when evaluating health plans for the first time.

Deductions 98

Deductions Deductible Healthcare Flexible Spending 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

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

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

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

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 75

Deductions Deductible Health Savings Account Health Insurance 75

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

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. In 2023, the maximum an employee can carry over is $610.

Out of Pocket Cost 98

Out of Pocket Cost Health Savings Account Medical Health Insurance 98

InterWest Insurance Services

JANUARY 27, 2023

What you can do Fortunately, there are steps you can take to help them reduce their out-of-pocket expenses for health care: Emphasize the importance of preventative care — The best way to prevent or stave off major health issues is through preventative care, such as going to routine checkups and having blood work done as recommended.

Out of Pocket Cost 98

Out of Pocket Cost 401(k) Deductions Deductible 98

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

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

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. Financial wellness. Most students in the U.S.

Education 98

Education 401(k) Deductions Deductible 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

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. One of the key features of PeopleKeep is its ease of use. Another benefit of using PeopleKeep is the flexibility it offers.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Benefits Package Flexible Spending 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 103

Health Insurance Health Savings Account Insurance Benefits Package 103

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

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? 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 tend to get a little trickier.

Taxes 40

Taxes Flexible Spending Account Health Savings Account Flexible Spending 40

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

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

Higginbotham

DECEMBER 8, 2023

As rising health care costs and inflation place pressure on both corporate and personal budgets, employers and workers alike are looking for ways to save money without sacrificing quality employee benefits. A Premium Only Plan is an option that may offer significant tax savings for all involved parties. Only $29.86

Deductions 52

Deductions Deductible Taxes Payroll 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. 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

Benefit Resource Inc.

MAY 12, 2019

But, Health Reimbursement Accounts (HRAs) and Health Savings Accounts (HSAs) prove to be a little mind boggling for people. ROUND ONE: Which account(s) is funded by the employer? ROUND TWO: Contributions can be made until the tax-filing deadline (typically April 15) for the prior year. HRA or HSA?

IT 64

IT Deductions Deductible Health Savings Account 64

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

Stratus.HR

JUNE 11, 2021

High Deductible Health Plans (HDHP) and Health Savings Accounts (HSA) are growing more and more popular each year. Considering they have lower premiums and provide the ability to use pre-tax dollars to pay for out-of-pocket costs, what’s not to love?

Deductions 76

Deductions Deductible Out of Pocket Cost Health Savings Account 76

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 56

Health Insurance Health Savings Account Insurance Benefits Package 56

Business Management Daily

SEPTEMBER 15, 2021

Someone definitely could view an employee benefits package that lacks health insurance or paid sick days as a reason to not accept an offer of employment. To aid in the decision-making process, though, here’s a closer look at various types of employee benefits : Health insurance. There’s no one-size-fits-all answer.

Benefits Package 52

Benefits Package Family and Medical Leave Act Health Insurance PTO 52

Genesis HR Solutions

SEPTEMBER 22, 2020

Medical Insurance. Medical insurance is likely a no-brainer— it’s one of four major types of benefits most employers offer. Dental Insurance. Employees don’t pay taxes on this money, which means they save an amount equal to the taxes they would have paid on the money you set aside. Hospital Insurance.

401(k) 98

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

Benefit Resource Inc.

MARCH 20, 2019

If you are currently employed, there is one change you can make to start saving: Enroll in a Health Savings Account (HSA). We’ll go over the three reasons why enrolling in an HSA might be the best option for you in order to save on health care expenses in retirement. The tax savings.

401(k) 85

401(k) Deductions Deductible Health Savings Account 85