McDermott Will & Emery Employee Benefits

APRIL 29, 2022

Recently, the Internal Revenue Service (IRS) announced (See Revenue Procedure 2022-24) cost-of-living adjustments to the applicable dollar limits for health savings accounts (HSAs), high-deductible health plans (HDHPs) and excepted benefit health reimbursement arrangements (HRAs) for 2023.

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Health Savings Account Deductions Deductible Employee Benefits 85

Benefit Resource Inc.

DECEMBER 8, 2022

It’s the 19th birthday of Health Savings Accounts (HSAs), and they have been a game-changer in healthcare. They are one of the most powerful tools available to employers, employees, and their families when saving on healthcare costs. December 8th is a special day! Happy Birthday to HSAs. Happy Birthday, HSA!

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UMB: Emplooyee Benefits

AUGUST 27, 2021

Between the increased prioritization of health due to the COVID-19 pandemic and the continued rising cost of healthcare, this comes as no surprise. The post Now is the time for employers to boost health savings account participation appeared first on Financial insights for individuals and businesses.

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WEX Inc.

MAY 22, 2019

When it comes to managing employee benefits, employers are frequently turning to high-deductible health plans to help control costs. But managing – and keeping up with – HSA requirements has its difficulties.

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Health Savings Account Deductions Deductible Employee Benefits 61

InterWest Insurance Services

AUGUST 26, 2023

WHEN: Tuesday, October 17, 2023 12:00 PM – 1:00 PM JOIN US: InterWest is a proud sponsor of Summit Employee Benefits Online education. In partnership, we are offering access to the upcoming complimentary webinar. SESSION DETAILS: In honor of October’s HSA awareness month, this month’s webinar will focus on HSAs.

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Employee Benefit News

JANUARY 18, 2023

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Employee Benefit News

MARCH 21, 2023

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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. Health savings account An HSA is an individually owned benefits plan funded by you or your employer that lets you save on purchases of eligible expenses.

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WEX Inc.

MARCH 16, 2023

How much should I contribute to my health savings account (HSA) each month? If you’re covered by an HSA-eligible health plan (or high-deductible health plan ), the IRS allows you to put as much as $3,650 per year (in 2022) into your health savings account (HSA). What is an HSA?

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PeopleKeep

NOVEMBER 13, 2020

A common question employers ask us is: "Can an employer contribute to an employee's HSA?" There are two ways an employer can contribute to an HSA, but it’s important to understand the regulations to do so correctly.

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WEX Inc.

MARCH 7, 2023

We wanted to share a few tips and reminders about the health savings account (HSA) information you’ll need for your tax return. WEX's HSA participants can find the tax forms related to their HSA under the “Message Center” tab of their online account. The season for filing taxes is upon us once again.

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PeopleKeep

JULY 28, 2023

Health savings accounts (HSAs) are a popular way to save funds for future medical expenses. However, many people are unaware of all the ways they can use their funds. While most use their HSA funds for their own medical costs, it's possible to use them for dependents' medical expenses as well.

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Winston Benefits

APRIL 7, 2016

Are there ways to protect our finances and our health? It’s nearly April 15 and many of us are thinking about our taxes. Is there something more we could be doing to ensure our financial wellness?

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Money Talk

JUNE 28, 2023

Consider completing the paperwork needed to save more money from July to December in your employer’s tax-deferred retirement savings plan. Even 1% more of pay in savings adds up over time. Health Savings Account (HSA) Tweak - By mid-year, you know what you already spent for health care services through June.

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PeopleKeep

FEBRUARY 8, 2023

Many employers are familiar with account-based benefits like health savings accounts (HSAs), flexible spending accounts (FSAs), and health reimbursement arrangements (HRAs). But some may not be as familiar with lifestyle spending accounts (LSAs), which are a relatively new benefit type.

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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.

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WEX Inc.

SEPTEMBER 14, 2023

Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans. If you rarely go to the doctor or would like to enroll in a health savings account (HSA) , an HSA-eligible health plan may be right for you!

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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.

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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? The temperature is rising and summer is right around the corner! How’s your sunscreen stock?

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WEX Inc.

SEPTEMBER 21, 2023

Visual health is a vital component of overall well-being, and unexpected eye-related expenses can put a strain on your finances. 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.

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PeopleKeep

OCTOBER 15, 2020

The primary options for companies looking to supplement their group health insurance plan are Section 105 plans , commonly known as group coverage HRAs (GCHRAs), and Section 125 plans , also known as cafeteria plans, which include health savings accounts (HSAs).

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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?

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PeopleKeep

AUGUST 4, 2021

Those are actually health codes that tell you which items on your receipt are qualifying medical expenses. In this article, we’ll help you understand how to read the codes on your receipts, where you can find them, and how they can help you more easily determine which items are HSA-, FSA-, and HRA-eligible.

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PeopleKeep

MARCH 28, 2022

When evaluating employee health insurance options, it’s easy to confuse different health plans with one another. Two commonly mixed-up health benefits are the health reimbursement arrangement (HRA) and the health savings account (HSA).

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WEX Inc.

OCTOBER 4, 2023

The 20th anniversary of health savings accounts (HSAs) marks a significant milestone for these accounts, which have empowered tens of millions of Americans to save for both immediate and future medical expenses.

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Money Talk

APRIL 28, 2022

Health Savings Accounts - One study found that the tax savings on many employees’ contributions to a health savings account (HSA) increases wealth by more than an employer match on the same employees’ 401(k) contributions. listening to podcasts while walking).

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PeopleKeep

MAY 19, 2021

A health savings account (HSA) is a tax-advantaged savings account a family or individual can use to pay for qualified medical expenses. HSAs are paired with a high-deductible health plan (HDHP) and have annual contribution limits.

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PeopleKeep

OCTOBER 4, 2021

As more employers move away from group health insurance plans, more married couples have begun maintaining separate individual health insurance coverage. If you and your spouse each have HSA-eligible insurance coverage, and you both plan on contributing to your HSAs, you must have separate accounts.

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Benefit Resource Inc.

NOVEMBER 7, 2022

For a long time, I believed you were either for Health Savings Accounts (HSAs) or you were for Flexible Spending Accounts (FSAs), but you couldn’t be for both. The very nature of HSAs prevented you from also participating in a General Medical FSA.

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WEX Inc.

MAY 17, 2023

Health savings account (HSA) contribution limits are on the rise again in 2024. Key takeaways - 2024 HSA contribution limits 2024 HSA contribution limits will increase to $4,150 and $8,300 for self-only and family HSAs, respectively. 2024 HDHP minimum deductible and maximum out-of-pocket limits also are increasing.

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PeopleKeep

JUNE 14, 2023

Navigating the world of healthcare can be challenging, especially when it comes to choosing the right health benefit for your organization. Both individual coverage health reimbursement arrangements (ICHRAs) and health savings accounts (HSAs) can maximize savings for you and your employees.

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Patriot Software

AUGUST 30, 2022

An HSA, or health savings account, is a plan where individuals put aside pre-tax […] READ MORE. Common employee benefits can range from different insurance options to types of retirement plans. Some employees have the option of opening an HSA. What is an HSA? What is an HSA?

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Health Savings Account Retirement Plan Employee Benefits Taxes 78

Benefits Notes

NOVEMBER 21, 2023

The IRS also announced the health savings account (HSA) and high deductible health plan (HDHP) annual deductible and out-of-pocket expense adjustments earlier this year in Revenue Procedure 2023-23 and the health flexible spending arrangement (Medical FSA) adjustments in Revenue Procedure 2023-34.

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PeopleKeep

JULY 24, 2023

Health savings accounts (HSAs) are individually-owned accounts where you can save pre-tax dollars to pay for healthcare expenses that are defined in IRS Publication 502. HSAs have several benefits that other savings accounts don’t offer, like portability, rollover capabilities, and tax advantages.

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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.

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Medical Flexible Spending Account Health Savings Account Flexible Spending 98

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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WEX Inc.

MAY 8, 2023

HDHPs can actually be a great healthcare saving option for employees of all ages. Along with paying a lower premium, HDHPs offer financial opportunities that PPOs do not because employees can enroll in a health savings account (HSA) , but only if they’re also enrolled in an HSA-eligible HDHP.

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