In preparation for HSA Day, we're counting the reasons HSAs are beneficial to both employers and employees.
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Tags: HSA, retirement, benefits, employers, Employee Engagement, ira, Millennials
We all know that enrollment can be complicated. But with the following tips, open enrollment communications with your employees can be simple and effective.
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Tags: employers, Open Enrollment
It’s no secret that health savings accounts (HSAs) are widely and often woefully misunderstood. This communication breakdown has manifested itself in misconceptions even among financial advisors—a cohort that many Americans entrust with helping them make critical decisions about their financial futures.
A HSA is a better retirement savings vehicle than a 401(k), but not all advisors are aware of this, nor that contributions to HSAs aren’t subject to federal income taxes; earnings from interest and investments are tax-free; and distributions from a HSA to pay for qualified medical expenses are tax-free.
“A real opportunity exists for financial advisors to play a major role in educating business owners about the benefits of health savings accounts for both their business and their employees,” said Kristi Rodriguez, leader of the Nationwide Retirement Institute.
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Tags: HSA, Retirement Savings
HSA vs 401(k)
If your company has decided to offer a high deductible health plan, don’t worry, you are not alone. Recent studies show that an increasing number of employers have elected to offer high deductible health plans (HDHP) either to completely replace or be offered in conjunction with a more traditional Preferred Provider Organization (PPO) plan or Health Maintenance Organization (HMO) plan. When sponsoring a HDHP, employers typically offer their employees the ability to contribute to a Health Savings Account (HSA) to help offset the increased deductible associated with the HDHP. In 2017, 19 percent of all workers were enrolled in
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Tags: Retirement Planning, IRS, 401(k), Healthcare, HSA, TPA, tax savings, financial planning
It’s a new year and for those being first time users of 24HourFlex benefits (or for those who just need a refresher), it’s a good time to review where to find the tools and resources to easily manage your accounts.
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Tags: Education, consumer, online resources, mobile app, training, online portal, receipts
As an FSA customer, your 24HourFlex Debit Card can help make your life easier!
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Tags: FSA, eligible expenses
On Thursday, November 15, 2018, the IRS released a statement that officially increased the annual contribution limit for Healthcare Flexible Spending Accounts (FSA) - both Medical FSAs and Limited Purpose FSAs - and the monthly contribution limits for Qualified Parking and Transportation Accounts for any plan years beginning in 2019. There was no change to the Dependent Care Flexible Spending Account.
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Tags: IRS, FSA, contribution limits
As consumer-driven benefits continue to rise in the market, so the options for benefit administrators continue to expand for employers. Carriers, banks, HR software companies—it seems that more and more providers are adding FSA and HSA administration to their list of services. With so many choices, it can be difficult to decide who to trust with your pre-tax benefits, but in this dynamic, complex benefit world, it’s more important than ever to have a provider that offers stability, compliance expertise, security, and personalization.
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Tags: Compliance, FSA, HSA, TPA, Benefit Administration, benefits, third party administrator, hra
Our parent company, Retirement Planning Services, was honored to host an exclusive ERISA Lunch and Learn training session on Monday for area attorneys and CPAs, held by one of ERISA's finest (and fellow Coloradan), Sal Tripodi! A special thanks to Sal for extending this honor, since he now only speaks once a year at his Annual ERISA Seminar in Hawaii.
We'd also like to extend a big thank-you to our co-sponsors, Empower Retirement, Millennium Trust Company, and DFA Funds!
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Tags: ERISA, Retirement Planning, retirement, brokers, Education, continued education, sal tripodi, empower retirement, dfa funds, millennium trust company
