Flexible Spending Account

HSA Investing – Many Account Holders are Missing Out

Health Savings Accounts (HSA), a popular component of employee benefit packages with high deductible health plans, offer an abundance of financial advantages for account holders. With tax-free contributions, interest-bearing accounts, and the option to invest, an HSA can be a significant player in an account holder’s financial security. In 2015, HSA owners can deposit up … More >>

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Transit

High Commuter Costs are Siphoning Money from Workers’ Wallets

According to a recent article featured on CNN Money, commuters in the United States spend an average of $2,600 annually on their daily commute. This comes out to about $10 per day getting to and from the work place. Furthermore, 60% of survey respondents reported an increase in their commuting costs as compared to 19% … More >>

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FSA, HRA, HSA, COBRA, Insurance Payments

Cadillac Tax: What the Impending Tax Means for Businesses and Employees

In recent weeks, financial experts have been discussing the Cadillac Tax that applies to health care programs, including pre-tax contributions to HSA accounts. The tax, according to Bruce Japsen of Forbes.com, “was created as part of the Affordable Care Act largely as a way to help fund subsidized benefits to the uninsured under the law. Starting … More >>

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FSA, HRA, HSA, COBRA, Insurance Payments

IRS Announces 2016 HSA Contribution Limits

The Internal Revenue Service (IRS) recently announced new 2016 HSA contribution limits. HSA plans are popular among workers who are enrolled in high-deductible health plans (HDHP) because they can make untaxed contributions into an account for medical expenses, reducing their overall tax bill to the IRS. In addition, account holders can roll over unused funds … More >>

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FSAStore

Utilizing Your FSA For Back-To-School Shopping

August is nearly upon us which means that back-to-school shopping is right around the corner. You may realize that you still have a large sum in your Flexible Spending Account (FSA) and its “use or lose it policy” has you considering how to make the most of your contributions. This is a great time to … More >>

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IRS Guidance Provides Limited Transition Relief

As part of Notice 2015-7, the IRS issued guidance on Feb. 18 providing limited transition relief for certain premium reimbursement plans, including: Individual market premium reimbursement arrangements (PRAs), also known as  employer payment plans as defined in Notice 2013-54; Medicare premium reimbursement arrangements; and, Reimbursement arrangements supplementing Tricare. The relief does not extend to stand-alone HRAs or … More >>

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