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Effective as of January 1, 2020, California enacted a law that requires employers offering flexible spending accounts (FSAs) to notify participants of any deadline to withdraw funds before the end of the plan year [should their participation in the FSA…
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Five Things Employees Need to Know About Their HSAs Before They Retire
Many employees look forward to retirement. From starting a new hobby to traveling, employees may begin making plans for their retirement years long before the day actually comes. But when it comes to their benefits and financial plans, employees may…
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Six Ways to Leverage the Dependent Care Assistance Program (DCAP)
For parents and legal guardians, paying for dependent care adds up quickly. A Dependent Care Assistance Program (DCAP), also known as a Dependent Care FSA, is an employee-sponsored reimbursement program that lets employees use pre-tax dollars to pay for a…
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Start the New Year with Success
With the start of the new year, many organizations are kicking off a new benefit plan year – and there is a lot for employees to realize, especially when it comes to a health savings account (HSA). Whether they enrolled…
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What the Cadillac Tax Repeal Means for Employers
In December, 2019, President Trump signed spending legislation that will repeal of an excise tax on high-cost health plans, known as the Cadillac Tax. The Cadillac Tax, which was scheduled to take effect in 2022, would have imposed a 40…
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Changes to 2020 Health Care That Employees Might Not Know About
With the new benefits year around the corner, employees are likely making plans around their health care including Health Savings Account (HSA) and Flexible Spending Account (FSA) contributions, contemplating providers that they may need to visit and planning for the…
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How Brokers Can Help Young Adults Maximize Their Healthcare Benefits
As young adults head to college or enter the workforce with their first job, they’re gaining independence, finding their way in life and realizing that, with adulthood, comes a whole new world that they may not have worried about before.…
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Can Consumers Truly Shop for Health Care?
The consumer-driven health care concept isn’t new. It’s been around for over a decade when a handful of businesses started offering their employees health plans with low premiums, high-deductibles and tax-exempt savings accounts. There has been steady adoption of this…
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What is the HSA Triple Tax Benefit?
Triple tax benefit. Employees have likely heard it before. However, when it comes to health savings accounts (HSAs), do employees really understand what these three words mean to them? The unique benefits of an HSAs triple tax advantage can seem…
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Using an HSA with Kids Over 18 Years Old
When a child turns 18, there are a lot of changes that begin to take place. He or she may be heading off to college soon or starting their first job. When it comes to health insurance, it is easy…
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FSA Contribution Limits Increase for 2020
For 2020, the IRS increased the new 2020 Flexible Spending Account (FSA) limit to $2,750. For groups that have already set their contribution limits to the 2019 amount of $2,700, Further will automatically update the amount to the 2020 limit…
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