Breast Pumps as Eligible Items for Flexible Spending Accounts and Health Reimbursement Accounts 12/02/2011 In February 2011, the IRS ruled that the cost of breast pumps, and related equipment, will now be considered as tax-deductible medical expenses. This new ruling means that pre-tax funds from flexible spending accounts (FSA) and health reimbursement arrangements (HRA) can be used for the purchase of these supplies. Please note that in order to […] Read More >
IRS Sets 2012 HSA Contribution Limits 11/17/2011 New 2012 Health Savings Account Contribution Limits The IRS has set the HSA contribution limits for 2012 is shown below: The IRS has released the 2012 cost-of-living adjustments affecting HSAs. The HSA contribution limits and HDHP out-of-pocket maximums will increase slightly, while the HDHP minimum required deductibles remain unchanged. Here are the details: · HSA Contribution Limits. […] Read More >
Health Reimbursement Arrangements (HRAs) Help Introduce Employees to Health Care Consumerism 11/16/2011 Benefits of Health Care – HRAs Help Introduce Employees to Health Care Consumerism Discussions of consumer-directed health plans frequently focus on high-deductible health plans coupled with health savings accounts (HSAs). Sometimes overlooked are health reimbursement arrangements (HRAs) or a cafeteria plan, employer-funded accounts that can be a solid first step in transitioning to a consumer-directed […] Read More >
Using your Flex Debit Card for Prescriptions and Eligible OTC items 11/08/2011 USING YOUR FLEX DEBIT CARD FOR PRESCRIPTIONS AND ELIGIBLE OVER-THE-COUNTER ITEMS IS EASY! Use your flex debit card at merchants which can identify FSA/HRA eligible expenses.. Swipe your benefits card first and only your FSA/HRA eligible purchases will be deducted from your account. You won’t have to submit receipts to verify purchases from these merchants, […] Read More >
Don't Underestimate the Importance of Communications When Introducing a Consumer-Directed Health Plan 09/12/2011 Communications are key when starting a Health Savings Account or Health Reimbursement Account Employers’ experience in implementing consumer-directed health plans (CDHPs)-typically a high-deductible health plan in tandem with either a health savings account (HSA) or health reimbursement account (HRA)-shows that enrollment figures can be very different from one company to the next. However, when workers […] Read More >
Study Finds That Employees Value Benefits, But Still Don't Understand The Costs 08/08/2011 Whether an employee is old, young, male, or female, they most likely already understand the value and importance of benefits like dental insurance, health insurance, and 401(k)s. That said, the consulting and research firm LIMRA surveyed 1,500 U.S. employees and found that 40% of them didn’t know the cost of their health insurance. Furthermore, of […] Read More >
Protect Your Business When Using Social Media 08/04/2011 Protect Your Business When Using Social Media By the beginning of 2011, the social networking Web site Facebook had more than 600 million users. An estimated 200 million people use micro-blogging service Twitter. The business networking site LinkedIn has reported that it has more than 100 million members. In addition, the Internet hosts millions of […] Read More >
Three Points to Consider Before Altering Your Employee Benefits Plan 08/04/2011 Three Points to Consider Before Altering Your Employee Benefits Plan Just like most employees, most businesses start to look at ways they can cut their expenses during difficult economic times. One common focal point of such is employee benefits programs, especially in the area of health benefits. Considering that health benefits are frequently the most […] Read More >
Keeping your best employees when the economy improves 07/07/2011 Employee job dissatisfaction is running high these days, meaning that, as the economy recovers, they are more likely to seek new employment opportunities. This finding, from a MetLife survey, indicates employers would be well-advised to work now on strategies geared toward improving employee loyalty and retention down the road. The MetLife survey, its 9th Annual […] Read More >
HR with Tightened Purse Strings Can Still Meet the Challenge of Keeping Employees Happy 04/14/2011 What does it take to keep employees happy? Between the elevated food, transportation, and energy prices; plunging home values; and volatility surrounding the investment market, consumer attitudes have been shaken to their core. Businesses of all trades are feeling the pinch as the consumer’s belt is forced to steadily tighten. Human resources (HR) departments particularly […] Read More >