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Mid-Year Financial Tweaks and Tasks

Money Talk

It’s halftime for your 2023 finances and a perfect time to review where you stand, make mid-year adjustments, and complete recommended financial planning action steps. Health Savings Account (HSA) Tweak - By mid-year, you know what you already spent for health care services through June. The 2023 maximum pre-tax contribution is $3,050.

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4 Life Hacks to Extend the Value of Your Benefits

Benefit Resource Inc.

You might plan for retirement by contributing to a 401k plan. There are any number of employee benefits you can take advantage of which either contribute to your financial security or provide you more time to enjoy the little things in life. If you are 55 or older, you have the option of an additional $1,000 catch-up contribution.

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For HDHPs, IRS Confirms Pre-Deductible COVID-19 Testing Coverage Will End Next Year

Proskauer's Employee Benefits & Executive Compensa

As a reminder, if an HDHP covers medical items and services before the participant satisfies the IRS minimum deductible (self-only or family), that coverage may disqualify the participant’s HSA contributions. Can an HDHP continue to provide pre-deductible coverage of COVID-19 testing and treatment without impacting HSA eligibility?

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7 things to know about HSA compliance

WEX Inc.

Health saving accounts (HSAs) offer an excellent opportunity for participants to save money on healthcare expenses and for employers to support their employees’ wellness needs in a cost-efficient way. But there are HSA rules and regulations you and your employees need to follow in order to stay compliant.

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Preventive Care in a Post-Braidwood World: Agencies Release Guidance on Preventive Services Coverage Requirements

Proskauer's Employee Benefits & Executive Compensa

The Braidwood decision applies only to recommended items and services with an “A” or “B” rating by the USPSTF on or after March 23, 2010. This means that non-grandfathered group health plans are still required to cover items and services recommended by the USPSTF before March 23, 2010. It depends. Yes, for the time being.

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2024 HSA Contribution Limits, HDHP Minimums, Maximums Set

InterWest Insurance Services

Under its rules, HSAs, which help employees save for medical expenses, are only available to those enrolled in qualified HDHPs. Here are the changes coming in 2024: HSA annual contribution limit Self-only plan: $4,150, up 7.8% You can put money into your HSA through pre-tax payroll deductions, deposits or transfers.

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Employee reminders for the 2019 tax year

BerniePortal

Should an adjustment be needed, the estimator will provide recommendations. Do your employees have the access to an HSA? If employees haven’t met their contribution limit, they can still add funds to their account for 2019. Consumers can contribute for the 2019 tax year all the way until April 15, 2020.

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