Spend Down Your FSA Funds
Benefit Resource (BRI) is here with some helpful tips to consider regarding your FSA funds, so you don’t lose your money. As the end of 2021 and the plan year looms, it’s crucial to consider what you can do with any remaining funds in your Flexible Spending Account (FSA). Most of the funds in your FSA […]
2022 Contribution Limits Announced For FSA and Commuter
The IRS released the 2022 contribution limits for Mass Transit, Parking, Medical FSA, and Adoption Assistance in Revenue Procedure 2021-45. The limits are effective for plan years that begin on or after January 1, 2022. 2022 CONTRIBUTION LIMIT: MASS TRANSIT AND PARKING Maximum Election: $280 / month (up from $270 / month in 2021) 2022 […]
Finding an Effective Drug Addiction Program
Does your benefit plan include a drug addiction program and solutions for employees? Drug overdose deaths have tripled since 1990. Nearly 21 million Americans struggle with addiction, but only 10% receive treatment. However, seeking recovery can present challenges that often result in an extended journey to overcome the addiction. Addictions can destroy careers, marriages, friendships, […]
Personal protective equipment: Buying masks and hand sanitizer?
NOTE: A previous version of this blog on personal protective equipment was originally published in October 2020. It has been updated to include a new legislative updates from March 2021 and more. In March 2021, the IRS released Announcement 2021-7, establishing that “personal protective equipment such as masks, hand sanitizer, and sanitizing wipes, used for […]
FSA Carryover: Everything You Need to Know About this Feature
If you have a Medical Flexible Spending Account (FSA), you may have the ability to take leftover funds from one plan year and transfer them to the next. This plan feature (referred to the IRS as a “carryover”; also known as a “rollover”) gives you additional flexibility with your pre-tax funds and allows you to […]
9 benefits tips that Schitt’s Creek taught us
At Benefit Resource (BRI) we love to talk about how our benefit programs save both companies and employees real (hard-earned) money. But we would love to show you what we offer even more. Check out this interesting Schitt’s Creek GIF approach. ? It looks like we can learn a few things from the Rose family. […]
Take care of your teeth by doing these 3 things
According to the CDC, oral health problems plague U.S. adults, with 26% having untreated tooth decay and 46% of those 30 years or older show signs of gum disease. Are you making the effort to take care of your teeth? Here are some steps to keep those pearly whites shining bright. Enroll in a Dental […]
3 Things You Thought Were Eligible that Actually Aren’t
Picture this: you’re at your local pharmacy filling your cart after receiving your benefits card in the mail. When you get to the register, your card doesn’t seem to want to swipe. WHAT?! Angrily, you step aside and call your benefits provider to give them a piece of your mind. Apparently, according to the person […]
Quick Reference Guide to Acronyms used in Benefits
If you are feeling like you need a special decoder ring to understand your benefits, you are not likely alone. But we have just what you need. We’ll break down common (and not so common) acronyms used in benefits. To make it (hopefully) a little easier, we will tackle it through four groups: Rules and […]
3 products you should stop buying with your FSA
EDIT: In March 2021, the IRS released Announcement 2021-7, establishing that “personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread of the Coronavirus Disease 2019 (COVID-19 PPE) are treated as amounts paid for medical care under § 213(d) of the Internal Revenue Code (Code).” FSAs […]
How might a Democrat controlled Government impact pre-tax benefits?
With the election now behind us, and Democrats in control of the White House and both houses of Congress, what might that mean for pre-tax benefits? Is it a dooms-day scenario? Or, are all dreams of changes about to come true? Like most things, in the end, the truth is likely somewhere in the middle. […]
7 ways to manage your benefits better, based on your personality
If you are looking for a new way to manage your benefits this year, you might enjoy building it around an approach that factors in your existing organizational habits and your personality. While it often feels like benefits are a tertiary part of our daily lives, incorporating them as part of the bigger picture helps […]
FSA Relief Considerations Q&A
We are excited to provide you with some additional insight into the FSA relief options for Health and Dependent Care Flexible Spending Accounts, included in the year-end spending bill signed into law on December 27, 2020. While these provisions are temporary, they provide much-needed relief during these unprecedented times. Plan sponsors should consider several factors as relief options are […]
Putting the “Fun” in FSA Funds
5 Ways to Spend Your Funds Before the End of the Year Congratulations on making it to the home stretch of 2020! Starting the new year with lost Flexible Spending Account (FSA) funds probably doesn’t sound like your idea of a good time. So, here’s a list of five fun ways to spend down your FSA and start 2021 off […]
Relief for FSAs in Year-end Spending Bill
Would 2020 be complete without a surprise twist or two?… However, this might be the surprise we have been hoping for. Congress has finally provided much needed relief for Health FSAs and Dependent Care FSAs in the passage of the year-end spending bill. Learn more in the Summary H.R. 133 of Authorizing Matters and the […]
15 Eligible Medical Expenses Under $15
The end of 2020 is (finally) almost here. That means it’s time to start planning how you’re going to use up those extra FSA funds. To avoid losing any of that pre-tax money to the use-it-or-lose-it rule, it’s important to plan your spending down to the last dollar. To help, we’ve put together a list […]
Winter skincare items to splurge on
Save twice when you shop for these eligible winter skin care items leading up to Black Friday. While IRS guidelines aren’t designed to support beauty, they are designed to support health, which includes taking care of your skin! Winter skincare & your FSA Purely cosmetic products (e.g. mascara, teeth whitinening kits, foundation) are not considered […]
Will COVID-19 affect non-discrimination testing results?
The time is fast approaching to complete your non-discrimination testing. Obviously with COVID-19, this year was quite a bit different than the previous. So, comes the question: will COVID-19 affect your non-discrimination testing results? What is non-discrimination testing? The IRS requires you to prove that your top paid employees and those in the highest positions […]
Which one is better for me: An FSA or HSA?
Trying to decide between an FSA or HSA? There are key differences you’ll want to understand as well as pros and cons of each account. Depending on your situation, you may also need to include considerations regarding how your spouse’s benefits may effect your options. Should I choose an FSA or HSA? The choice may […]
Making masks and PPE items eligible expenses
EDIT: In March 2021, the IRS released Announcement 2021-7, establishing that “personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread of the Coronavirus Disease 2019 (COVID-19 PPE) are treated as amounts paid for medical care under § 213(d) of the Internal Revenue Code (Code).” What […]
2021 contribution limits out for FSA, commuter
The IRS released the 2021 contribution limits for Mass Transit, Parking, Medical FSA and Adoption Assistance in Revenue Procedure 2020-45. The limits are effective for plan years that begin on or after January 1, 2021. There were no changes to contribution limits for the commuter accounts or medical flexible spending account. Details below. 2021 Contribution […]
4 Strategies to Strengthen Your Benefits Programs
The job market can be a blessing or a curse for human resource professionals. With low unemployment rates comes a highly competitive job market where every bell and whistle can be the determining factor to be the employer of choice. Inc.com gives us 7 Ways to Improve Employee Satisfaction, which can certainly improve the employee […]
Five Ways to COVID-Proof Your Election for 2021
Flexible Spending Accounts (FSAs) have always relied on a certain level of predictability when it comes time to estimating your election. But, with a year like 2020, it might take just a few extra steps to COVID-proof your election for 2021. 1. Estimate your Guaranteed Expenses We all have certain unavoidable medical expenses. These are […]
Improving your Open Enrollment readiness level
What is your Open Enrollment readiness? For optimists out there, this suggests employers are just over the hump and will be soon finalizing their plans for open enrollment. However, it also means employers have 45% of the work remaining. If you are like most employers, you still have a number of preparations to make prior […]
