Archive | Employee Benefits

Don’t Forget to Educate Your Employees!

Don’t Forget to Educate Your Employees! Open enrollment season is once again upon us for many plans. While educating employees about their benefits often occurs year-round, it is especially important during open enrollment when employees are deciding which benefits to choose for the upcoming year. Educating employees about their benefits can take many forms. Some […]

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Terminated Employees and Flexible Spending Accounts

Terminated Employees and Flexible Spending Accounts It’s the middle of the plan year, and an employee who is enrolled in the company’s flexible spending account (FSA) decides they are going to leave and go work for another employer. When they are no longer an employee, what happens to the FSA? Once the person is no […]

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How are HRAs different from FSAs and HSAs?

How are HRAs different from FSAs and HSAs? With so many options available for employee benefits, what sets health reimbursement arrangements (HRAs) apart from the rest of the pre-tax reimbursement accounts? 1. HRAs provide employers the ability to specify exactly what expenses the plan will reimburse. HRAs are funded entirely with employer contributions. HRAs can […]

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Top 3 Things To Know about Qualified Small Employer Health Reimbursement Arrangements

Top 3 Things To Know about Qualified Small Employer Health Reimbursement Arrangements When Congress passed and the President signed The 21st Century Cures Act at the end of 2016, a new benefit option became available for small employers.  The legislation includes language allowing for Qualified Small Employer Health Reimbursement Arrangements, or QSEHRAs.  These plans allow […]

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Medical Costs

What is the benefit of offering a flex card?

What is the benefit of offering a flex card? Employers have many options available when designing their benefit plans. One option commonly used is adding the flex card, or debit card feature to flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs). The main benefit of offering a flex card as part of a benefits […]

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The Top 4 To-Dos on an Employer’s New Plan Year Checklist

The Top 4 To-Dos on an Employer’s New Plan Year Checklist The new plan year is well under way for many employer offered benefits. This is a good time for employers to review their plans and ensure important details were not missed during the busy open-enrollment time period. Payroll Deductions – after the first payroll […]

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Planning for End of Year Expenses for Flexible Spending Accounts

Planning for End of Year Expenses for Flexible Spending Accounts The end of the plan year is quickly approaching for many flexible spending accounts (FSAs).   Many participants may be wondering what happens at the end of the plan year and how do I wrap up any outstanding claims. There are three primary scenarios (determined by […]

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