Benefits Blog

Top 5 FAQ of 2019

Posted by Sierra Betterley on Sunday, January 19, 2020 @ 11:58 PM

Health Spending Accounts are confusing! The IRS has so many rules! Sometimes it’s hard to figure out what you can use your funds on, and what you cannot. With medicine and law ever-changing, and the rising tensions related to healthcare coverage, questions are inevitable. We’ve tallied up the Top 5 Frequently Asked Questions of 2019 and answered them.

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Tags: FSA, HSA, receipts, FSA Store, HSA Store, CBD, questions, Health Shopper, Substantiation, OTC

Introducing Health Shopper

Posted by Sierra Betterley on Monday, January 13, 2020 @ 07:15 PM

The easiest way to learn about, shop for, select, and purchase HSA/FSA eligible retail items. 

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Tags: FSA, HSA, integration, Amazon, shopping

Employee Navigator Integration Partnership

Posted by Sierra Betterley on Monday, January 06, 2020 @ 06:09 PM

24HourFlex has expanded our growing list of 130+ vendor integrations and partnered with Employee Navigator’s powerful Benefits Administration solution to deliver an end-to-end, integrated experience for brokers, employers, and employees. Employee Navigator provides a simpler way to quickly enroll new hires, manage contribution levels, and compare and select plans. With this integration, you can have top, integrated payroll and benefits administration technology through Employee Navigator's efficient and streamlined approach.

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Tags: FSA, HSA, integration, payroll, HRIS, HR, Employee Navigator

Employers, Here’s What to Tell Your Employees About Their HSA or FSA to Close Out the Year

Posted by Sierra Betterley on Tuesday, December 03, 2019 @ 05:09 PM

If you’re an employer or benefits administrator, part of your job during open enrollment is to equip employees with the information they need to make the best decision about their healthcare benefits. This year is no exception.

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Tags: FSA, HSA, Employee Engagement, Open Enrollment

IRS Announces FSA and Parking/Transit Adjustments for 2020

Posted by Sierra Betterley on Wednesday, November 06, 2019 @ 11:16 AM

IRS ANNOUNCES ADJUSTMENTS FOR 2020

Today, November 6, 2019, the IRS released a statement announcing the Health Flexible Spending Account (FSA) and Qualified Parking and Transportation Account election limits for any plan years beginning in 2020.

 

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Tags: IRS, FSA, HSA, contribution limits, irs bulletin, Dependent Care FSA, 2020, Qualified Parking, Qualified Transportation, Commuter Benefits

Alphabet Soup: Helping Consumers Decode Acronyms in Healthcare Benefits

Posted by Sierra Betterley on Monday, November 04, 2019 @ 07:28 AM

Overwhelmed by a dizzying string of options and acronyms, some Americans are overlooking their best options for health coverage simply because they’re confused by the terminology. Especially for Millennials and Gen Z, just graduating and launching careers, the choice for health coverage must be made quickly, often amidst a barrage of employer-supplied documents, with little time to research. Unfortunately, the plans that might help them the most are the easiest to overlook. But regardless of age or experience, many consumers don’t realize that HDHPs can lead to monthly savings, that HSAs are portable and that FSAs can have rollover options that avoid the use-it-or-lose-it penalty associated with the accounts. In fact, many don’t know what these acronyms stand for at all.

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Tags: FSA, HSA, HDHP, employees, Employee Engagement, Open Enrollment, acronyms

Maximize Employee Engagement for Open Enrollment

Posted by Sierra Betterley on Tuesday, October 22, 2019 @ 06:59 AM

As temperatures drop and the fall season comes to an end, stress spikes in HR departments all over the country—that’s because it’s open enrollment season. Open enrollment is a window during which individuals and employees may add or drop their health insurance, or make changes to their coverage. The 2020 open enrollment period runs through Saturday, December 15, 2019, and if your employees don’t act by then, they can’t get 2020 coverage unless they qualify for a special enrollment period. Keep in mind that for employer-sponsored coverage, the open enrollment period is set by the employer, so be sure to clearly communicate these dates to your employees.  To make a better impact on your employees this year and drive engagement to new levels, here are a few suggestions on how to innovate your strategy.

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Tags: FSA, HSA, benefits, employers, Employee Engagement, Open Enrollment

The Most Common FSA Card Misconceptions

Posted by Meri Christenson on Wednesday, December 05, 2018 @ 02:15 PM

As an FSA customer, your 24HourFlex Debit Card can help make your life easier!

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Tags: FSA, eligible expenses

2019 FSA Contribution Limits Announced

Posted by Meri Christenson on Wednesday, November 28, 2018 @ 11:49 AM

IRS_logo-300x300-80x80On 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

Unbundled: Why an Independent Benefit Administrator is the Best Choice for Your Pre-Tax Accounts

Posted by Lindsay Barnard on Wednesday, July 25, 2018 @ 03:45 PM

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

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