In The News
Most times when we walk into a prospect meeting , one question we always ask is, How do you share in the premium costs with your employee?” Often the answer is a percentage or a defined contribution. We ask them how this was developed, and the answer is shocking, We have always done it this […]
For years employers have been giving employees a menu if options to choose from while selecting benefit options. The theory was centered around giving the employee more control in their healthcare options. Much like the 401k the thought was to let the employee decide what investment choices were best for themselves. Why should healthcare be […]
Insurance companies set rates based on assessing risk as we all know. Conversely, the insurance companies set rates for the higher out of pocket cost plans lower than they need to be. Why? They figure employees who select these options are generally healthier and do not use the plan. This creates a large spread in […]
Why should I choose a Flexible Spending Account (FSA)? A flexible spending account lets you save money by setting aside pre-tax dollars for eligible medical, dental, vision, and dependent care expenses incurred by you, your spouse or your eligible dependents. Take home more money Putting money into an FSA decreases your taxable income, which means […]
Are you preparing to send your kids back to school soon? You might be surprised to learn that your health savings account (HSA) and medical flexible spending account (FSA) can help you save on purchases of a variety of back-to-school, expenses, including: Thermometers. Thermometers. You can use your HSA or FSA to purchase a thermometer, which […]
Each year in the fall, the IRS announces new limits for several types of benefits that have maximums subject to annual indexing. You can find the full list of the recently released amounts for 2023 in IRS Revenue Procedure 2022-38, but we’ve outlined the most common items employers ask us about. Health Flexible Spending Account […]
A dependent care flexible spending account lets participants set aside pre-tax dollars to help pay for dependent care. Contributing to this benefit reduces taxable income and spreads the benefits of pre-tax dollars throughout the year, helping you save 30 percent or more on your dependent care costs. It’s a smart way to save money on expenses […]
Whether you own your business or manage a team within a larger one, you’re always trying to find ways to help your employees produce more. Financial incentives are the obvious answer. Workforce optimization is another. But a recent study suggests that a healthier workforce is a more productive workforce. The study finds that workers participating […]