WEX Inc.
SEPTEMBER 7, 2023
Some individuals may be wary of reducing their take-home pay, especially if they are already on a tight budget. Illustrate how pre-tax contributions lead to significant savings over time, effectively reducing the impact on take-home pay. What you can do: Highlight the flexibility of FSAs.
InterWest Insurance Services
MARCH 22, 2022
Options can include: Health insurance, Voluntary benefits premiums (like vision and dental), Life insurance, 401(k), and. Besides the fact that your employees use money that hasn’t been taxed to pay for these benefits, the payroll deductions for them also reduce their taxable income while raising take-home pay.
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Benefit Resource Inc.
APRIL 18, 2023
FSAs, on the other hand, allow for pre-tax contributions, reducing your taxable income and increasing take-home pay. Additionally, HSAs can be used for dental and vision expenses, while FSAs can be used for dependent care expenses , such as daycare or after-school programs.
HR Digest
JANUARY 8, 2020
Whether this is your employer’s policy or not, it’s important to find out now how your employer is handling paycheck deductions for benefits like health insurance, vision insurance, dental insurance, hospital benefits and others. We opted not to reduce the amount of each paycheck, to avoid any negative impact for our employees.
AssuredPartners
SEPTEMBER 8, 2021
Tip: Consider auto-enrolling employees at a 6% default rate and running a 1% or 2% challenge program each year to help them increase savings with little impact on their take-home pay. A financial wellness program with a long-term vision shows employees their employer cares and wants to help them succeed. Auto-escalation.
Benefit Resource Inc.
NOVEMBER 19, 2019
Types of expenses the FSA can pay for include co-pays, deductibles, and even some vision and dental expenses. A POP Plan gives employees the chance to set aside pre-tax money from their paycheck (like an FSA) but it pays for the premium costs associated with employer-provided health insurance.
Benefit Resource Inc.
NOVEMBER 19, 2019
Types of expenses the FSA can pay for include co-pays, deductibles, and even some vision and dental expenses. A POP Plan gives employees the chance to set aside pre-tax money from their paycheck (like an FSA) but it pays for the premium costs associated with employer-provided health insurance.
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