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.

Health Savings Account 88

Health Savings Account Deductions Deductible Employee Benefits 88

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. Let’s take a look at how these accounts can help your business.

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Health Savings Account Healthcare Taxes Flexible Spending 40

InterWest Insurance Services

FEBRUARY 11, 2024

June 18, 2024 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: As more and more employers offer at least one HDHP option, employers play a role in educating their employees about HSAs.

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Health Savings Account Education Employee Benefits Employment 52

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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Health Savings Account Employment Healthcare Employee Benefits 52

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.

Health Savings Account 61

Health Savings Account Deductions Deductible Healthcare 61

Money Talk

JUNE 28, 2023

Below are ten mid-year financial tweaks and tasks: Tax-Deferred Savings Tweak - Perhaps you will get a raise on July 1. 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.

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Flexible Spending Account Banking Health Savings Account Finance 238

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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Health Savings Account Education Employee Benefits Employment 40

Employee Benefit News

JANUARY 18, 2023

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Health Savings Account 90

Employee Benefit News

MARCH 21, 2023

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Health Savings Account Employee Benefits Healthcare 84

InterWest Insurance Services

FEBRUARY 20, 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.

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Deductions Deductible Out of Pocket Cost Health Savings Account 98

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.

401(k) 98

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

Money Talk

DECEMBER 14, 2023

Below is a brief discussion (in no particular order) of 12 signs of retirement readiness: Financial Preparedness - This includes adequate savings and other income sources (e.g., Adequate Emergency Savings - At least three to six months of essential living expenses are set aside for emergencies (e.g.,

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401(k) Health Insurance Pension Taxes 194

Benefit Resource Inc.

MARCH 28, 2024

Pre-tax benefits are a powerful tool for saving money and maximizing your income. From flexible spending accounts (FSAs) to health savings accounts (HSAs) and commuter benefits, these options offer significant advantages if managed wisely. This includes copayments, deductibles, prescriptions, and more.

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

Money Talk

APRIL 20, 2023

In addition to writing monthly Small Steps to Health and Wealth™ financial messages , I also present online webinars and class segments. The answer to this question is yes, with planning and regular savings, as is the case for workers in any occupation. health insurance). barn, silo, riding arena), farm equipment (e.g.,

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401(k) Pension Retirement Plan Taxes 245

Benefit Resource Inc.

JANUARY 4, 2024

As a new plan participant, you will experience significant savings on eligible items and services in the coming months! To help you make the most of your account(s), here are some helpful reminders, tips and valuable resources. How do I access the funds in my account? How do I know how much money is in my account?

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Flexible Spending Account Flexible Spending Taxes Utilities 96

Benefit Resource Inc.

FEBRUARY 7, 2024

A key player in the balance between health and wealth is the health savings account (HSA). Understanding HSAs Health Savings Accounts are tax-advantaged savings accounts designed to help individuals and families with high-deductible health plans (HDHPs) cover medical expenses.

Health Savings Account 52

Health Savings Account Healthcare Deductions Deductible 52

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?

Health Savings Account 98

Health Savings Account Deductions Deductible Healthcare 98

Benefit Resource Inc.

NOVEMBER 6, 2023

A well-rounded approach to health and wellness initiatives can make a significant difference in maintaining a motivated and engaged workforce. Consider the following initiatives through a Specialty or Lifestyle Account : a. However, regular exercise can have a profound impact on employee morale and overall well-being.

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Flexible Spending Account Flexible Spending Health Savings Account Food 90

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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Benefits Package Flexible Spending Account Health Savings Account Flexible Spending 52

Money Talk

SEPTEMBER 9, 2022

bank and brokerage accounts, cryptocurrencies, and retirement savings plans). online retailer accounts and financial accounts) and then prepare a detailed inventory. Benefit Accounts - This category includes rewards programs for various airlines and hotels, railroad miles, and retailer rewards or loyalty programs.

Electronics 171

Electronics Retail Health Insurance Banking 171

Money Talk

MAY 18, 2022

2021) or 90% of current year (2022) tax liability using a W-4 form at work for job-related income tax withholding; withholding for Social Security, a pension, and required minimum distributions through account custodians; and/or quarterly estimated payments using IRS Form 1040-ES. They are a great retirement savings tool.

Taxes 261

Taxes 401(k) Deductions Deductible 261

WEX Inc.

SEPTEMBER 14, 2023

If you’re one of that majority, you may be missing out on multiple ways to save, either through the health plan you choose or through the benefits you enroll in. Fortunately, a few open enrollment tips can go a long way to making sure you’re maximizing your savings potential. Open enrollment comes just once a year.

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

Employee Benefits

APRIL 8, 2024

Through a partnership with cloud-based payroll software service PayCaptain, Roadchef employees can access savings pots, digital payroll giving, pay trackers, built-in financial wellbeing tools to budget and plan money, interactive pay slips, 24/7 faster payments, 24/7/365 chatbots, banking features and access to accrued earnings in emergencies.

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Payroll Payroll Software Pension Payroll System 107

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.

Health Savings Account 52

Health Savings Account Employment Human Resources 52

Money Talk

AUGUST 10, 2022

a poorly performing stock market decreasing retirees’ savings account balances. While benefits are withheld during this time, they could be larger later as payment amounts are recalculated to account for a person’s longer work history. Factors contributing to this trend include: 1. food, gas, utilities, housing, etc.)

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Disability Insurance Taxes Health Insurance Pension 246

Benefit Resource Inc.

JANUARY 3, 2023

Whether you’re looking to retire, advance your career, or prioritize your health, now is the perfect time to start planning your journey. If you’re in the 70% of people who have health-related goals for 2023, let’s take a look at how pre-tax benefits can help set goals and prioritize your health this year and beyond.

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Utilities Taxes Flexible Spending Account Flexible Spending 98

Money Talk

APRIL 28, 2022

Studies have found that, when people identify with their future selves , they save more money for retirement. Studies have also found happier relationships among couples with joint accounts. The following savings hierarchy was suggested by the researcher: 1. 529 college savings account, 5. credit cards), 4.

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401(k) Health Savings Account Finance Retirement Plan 183

Benefit Resource Inc.

JANUARY 25, 2024

Whether you are a participant exploring your benefit options or an employer preparing a benefits package, you may have formed certain myths about pre-tax benefit accounts. This “fuzzy” factor is what sometimes leads to myths and misconceptions about how each of the accounts work.

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Taxes Health Savings Account Benefits Package Medical 52

Money Talk

SEPTEMBER 30, 2022

Many are middle income taxpayers who diligently saved and invested for 4-5 decades in tax-advantaged plans. The rationale for both payments is that people who earn more can afford to pay more for taxes and health care. Also, IRMAA did not start until 2003 when many baby boomers were well into a savings program. IRMAA surcharges.

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401(k) Taxes Pension Deductions 243

Money Talk

JANUARY 11, 2023

Pay Yourself First (PYF)- PYF treats savings with the same high priority as a mortgage, rent, or car loan payment. The easiest way to “pay yourself first” is to have savings deducted automatically from your paycheck through a 401(k) or other workplace savings plan. Reconcile and file bank checking account statements monthly.

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401(k) Finance Insurance Deductions 237

WEX Inc.

SEPTEMBER 12, 2023

If you’ve never been asked if you would like to participate in an employee benefits account before, you might be asking yourself, “What are all these acronyms?” Click here for the first blog post in our series on choosing a health plan for the first time. HSA-eligible health plans typically have lower premiums but higher deductibles.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Life Insurance 52

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. You can take care of this standard checkup with the funds you’ve saved into your HSA or FSA.

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Flexible Spending Account Health Savings Account Flexible Spending Medical 98

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?

Health Savings Account 49

Health Savings Account Taxes Finance 49

WEX Inc.

MAY 8, 2023

More employees are enrolling in a high-deductible health plan (HDHP) each year, including more than half of U.S. But there are still misunderstandings that exist among employees about the significant value of an HDHP (or HSA-eligible health plan) and how it compares to a traditional health plan. private-sector workers in 2021.

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Deductions Deductible Health Savings Account Employee Enrollments 97

Employee Benefit News

APRIL 2, 2024

Help employees save money by educating them on contributions and eligible items for their health savings accounts.

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Health Savings Account Taxes Education Employee Benefits 68

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. It also shows pre-tax contributions made to your account by you and your employer through payroll deductions. The season for filing taxes is upon us once again.

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Taxes Health Savings Account Deductions Deductible 98

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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Health Flexible Spending Account Health Savings Account Flexible Spending 98