With rising healthcare costs, it is important to effectively manage spending. From improving healthcare literacy to maximizing savings accounts, such as health savings accounts (HSAs) and flexible spending accounts (FSAs), there are a variety of methods that can help you take control of your healthcare expenses and protect your financial well-being. Improve Your Healthcare Literacy Strong healthcare …
On October 9th, 2025, the IRS released Revenue Procedure 2025-32, officially increasing the 2026 pre-tax contribution limit for health Flexible Spending Accounts (FSAs) to $3,400—a $100 increase from the 2025 limit. Additionally, employers with health FSAs may allow employees to carry over a certain amount of funds remaining at the …
On July 4th, a significant tax and spending bill was signed into law, called the “One Big Beautiful Bill Act” or OBBB Act. This bill has considerable implications for employee benefits, including Health Savings Accounts (HSA), High Deductible Health Plan (HDHP) telehealth, Dependent Care Flexible Spending Accounts (FSAs), Educational Assistance …
Flexible spending accounts (FSAs) allow employees to pay for qualified out-of-pocket expenses using pre-tax dollars. They assist in reducing overall taxable income, making them a tax advantage and a great resource for individuals managing health care or dependent care costs. FSAs are typically offered by employers within the employees’ benefits …
As 2024 comes to a close, many employees with benefits renewing soon face an important question: How can they best use the flexible spending account (FSA) funds they’ve set aside before the deadline? Failing to spend the balance means forfeiting that money. Unless your employer provides an extension or allows …
A Flexible Spending Account (FSA) is an account that reimburses an employee for qualified health care or dependent care expenses. These qualified expenses are funded with pre-taxed dollars deducted from an employee’s paycheck. “Use-it-or-lose-it” Rule It is required by the Internal Revenue Service (IRS) that an FSA must follow a …
The Internal Revenue System (IRS) recently announced the 2024-dollar limits for employee benefits including: High Deductible Health Plans (HDHPs), Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), transportation benefits, and adoption assistance. As cost-of-living expenses continue to rise due to inflation, the IRS annually adjusts contribution limits to accommodate spending …
With more and more companies moving away from remote work schedules, commuter benefits are likely to increase in popularity. Through employers, commuter benefits allow employees to use tax-free dollars on commuting expenses, saving employees money on annual taxes. Qualified expenses may include: Parking costs – parking on or near the …
As the year progresses, it’s important to be mindful of the funds within your flexible spending account (FSA) and health saving account (HSA). While HSA funds can roll over year to year, typically, the majority of FSA funds must be spent by the end of your plan year. The Employee …
Employees consider benefits to be a deciding factor when job hunting. With the effects of the pandemic, offering benefits that provide a sense of financial and emotional security is imperative for employers looking to retain and attract talent. In 2023, consider the following benefits and perks that will meet employees’ …
When preparing for open enrollment, it is important to understand your options. Health Saving Accounts (HSAs), Health Reimbursement Arrangements (HRAs), and Flexible Spending Accounts (FSAs) are often offered in conjunction with a health plan. Knowing the advantages of each can allow for an easier open enrollment process. Health Savings Account …
For most, Memorial Day is the unofficial start of summer. This weekend numerous families will flock to the beach, go camping, or grill in the backyard. Outdoor activities will become much more common and popular as the weather warms. If you are planning to spend time outdoors, you need to …
The Internal Revenue System (IRS) recently announced the 2022 dollar limits for employee benefits including: High Deductible Health Plans (HDHPS), Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), Transportation Benefits, and Adoption Assistance. As cost-of-living expenses continue to rise due to inflation, the IRS annually adjusts contribution limits to accommodate …
What is a Flexible Spending Account (FSA) Many employers offer their team the opportunity to enroll in a Flexible Spending Account (FSA). FSAs allow employees to put away pre-tax dollars to spend on eligible healthcare products and services. However, when an employee puts money into their FSA, they must use …
Flexible Spending Accounts (FSAs) can be an asset to any employee benefits package because employees can set aside pre-tax funds to be used for eligible healthcare expenses. Due to the nature of the public health emergency posed by COVID-19 and the unanticipated changes in availability of certain medical care, you …
