If pre-tax health accounts were types of ice cream
Given that the final days of summer are coming to a close, we thought it fitting to treat our readers to a more flavorful post. Below, we explore some surprising (yet tasteful) similarities between types of ice cream and pre-tax accounts. Your company: The ice cream parlor For starters, the ice cream parlor you’re ordering […]
7 Tips for Bringing Employees Back on Payroll
In April 2020, unemployment rates peaked at nearly 15%. Since that time, there has been a steady decline and current unemployment is near 10%. While this is still a far cry from our pre-COVID-19 unemployment rates of 3.5%, employers are increasingly bringing employees back on payroll. However, this task is bringing new challenges to employers, […]
Going Virtual: The future of child care during COVID-19?
Child care during COVID-19 has been one of the most discussed topics after the pandemic itself, alongside shifting work environments and how companies and the economy are responding. Many parents are expecting to go back to work in offices, albeit a limited number of days a week in some cases, when the last quarter of […]
What does “dual purpose” item mean?
If you’ve read our other blog “Wait, what do you mean these aren’t eligible under my FSA?” or if you’ve used your flexible spending account to pay for purchases in the past, there’s a good chance you’ve run into the term “dual purpose”. So what does it mean when something is a dual purpose item? […]
A new way to save on feminine care products
Thanks to a recent wave of legislation that passed back in March, all products for “that time of the month” can now be purchased at a 25 to 40 percent discount. This change takes place exactly 100 years after the historical 19th Amendment was ratified, allowing women the right to vote. All you need to […]
Your Dependent Care FSA: Babysitter Hiring Options
During a time when schools, daycare facilities, and summer camps may be up in the air, you may be looking for alternative means of childcare. What about Dependent Care FSA babysitter hiring? Is it allowed? What do you need to know? Before we get into that, a quick tip for those whose need for child […]
Father’s Day 2021: Best Picks
This Father’s Day 2021, you might be surprised at some of the items you can find online. Make sure you let your dad (or uncle or brother!) know about these steals that they can find to treat themselves this Father’s Day (and all at a discount*). Our best picks for Father’s Day 2021 The Basics […]
Your BRI notifications cheat sheet
It’s important to keep track of what’s happening with your accounts– that’s why we created BRI notifications. You Pick and Choose We’ve been perfecting our notification system since 2013, so you can trust its reliability. It even made it onto our list of the Top 25 Ways to Save with Pre-tax Benefits. How it works: […]
IRS releases new relief affecting FSAs
A release from the IRS provides new relief affecting FSAs, including Medical FSAs and Dependent Care FSAs. There are four main changes provided in the relief, addressed in two notices. What is the new relief affecting FSAs? Within Notice 2020-29 from the IRS, taxpayers using FSAs will receive the following relief: Change #1: Extended claim […]
10 new eligible items you can buy with your pre-tax dollars
The CARES Act introduced new eligible items that you can purchase with funds from your pre-tax benefits accounts (FSAs, HSAs, and HRAs). Effective January 2020, menstrual care products are now considered eligible expenses. Over-the-counter drugs and medicines are also now eligible for purchase without a prescription. Since the funds in these accounts are deducted from […]
What about Medical FSAs and COVID-19?
UPDATED 5/12/2020: New information from IRS available on Medical FSAs and COVID-19 There are many questions employees have on how their Medical FSAs are impacted by COVID-19. Specifically, they want to know what options they have and what changes might be on the horizon. Here are the facts we know so far. Medical FSAs and […]
Treat allergy symptoms using pre-tax funds
Spring is in the air. This means that common seasonal allergy triggers like pollen is too. Fortunately, you can combat these allergy symptoms using funds from your HSA, FSA or HRA. We’ll tell you how shortly. First, we’ll cover how to tell if your symptoms likely indicate allergies or another ailment. This will help ensure […]
Do you need to make benefit changes because of COVID-19?
COVID-19 has caused upheaval in many ways. This includes employees’ work benefits, particularly pre-tax accounts. For employees with an HSA, Dependent Care FSA, and/or commuter plan, there may be the opportunity to make changes to their accounts. Here are the main updates employees should know about. UPDATE: See our blogs IRS releases new relief affecting […]
What you need to know about the CARES Act
The new CARES Act, formally named ‘‘Coronavirus Aid, Relief, and Economic Security Act’’, brings a variety of actions aimed to aid in the fight of COVID-19, along with spurring economic stability and growth. You can view the full list of inclusions in this Forbes article. Here, we will focus on the three possible changes affecting […]
New tax filing deadline announced by the IRS
Tax time is no longer just April 15th. Recent guidance from the IRS delays the Federal tax filing deadline and Federal tax payment deadline. However, state deadlines and the impact on contributions to a Health Savings Account remain less clear. What are the details? The deadline was extended from April 15, 2020 to July 15, […]
Managing your kids & health during social distancing
Life since COVID-19 has introduced shifts in how Americans approach home, work and health. While some of those areas have slowed down, others are even more active than usual. Here are three ways to manage kids, health and finances in the middle of social distancing. Managing kids at home With schools all over the country […]
Four Ways Employers Can Assist Employees Amid COVID-19
Amid the COVID-19 pandemic, we find each day brings new information and challenges. But sometimes, all we want (and need) are answers. Read how you can assist your employees during this uncertain time. Question 1: Can employees change their FSA elections? Under current rules, employees are permitted to make FSA election changes when they have […]
How out of pocket maximums affect enrollment
You want employees to understand their benefits so they use them, but there are a lot of unfamiliar terms that come up in benefits. One such term is out of pocket maximum. Here’s what your employees need to know about this term and why it matters for improving enrollment rates. Out of pocket maximum The […]
Why you should have a plan for unused FSA funds
If you are in charge of the decision to offer a Flexible Spending Account (FSA) at your company, you should have a plan for unused FSA funds. Doing so will give you the power to: stay young forever assuage angry employees lower administrative fees potentially reduce premiums … and more. Here are your options for […]
Child care costs are skyrocketing. This account saves your employees money
If you offer a Dependent Care Flexible Spending Account, (DCFSA) you know it can provide a lot of really great child care benefits. And you probably also know that the limits on the account have been stuck at $5,000 for those married and filling jointly, or $2,500 for single taxpayers. But why? Given the fact […]
Skip the wait– use your BRI account online
Your BRI online account can be used for more than checking your balance. (Although it’s great for that, too). You can also sign up for ways to get your reimbursements faster, skip calling in about your card, and get answers to FAQs. That’s just the tip of the iceberg. Here are the top five ways […]
The link between pre-tax benefits and COBRA
COBRA is routinely misunderstood and there are some valid reasons for it. Nothing is straight-forward. You deal with a lot of “maybes” or “sometimes”. Rarely, do you find an “always” or “never” situation. In all honesty, you probably need a degree in Advanced Benefits Continuation Rules to know all the ins and outs. So, it […]
5 reasons you should follow BRI on LinkedIn
We know you work hard every day to bring the best benefits to your employees. Here are five things that can help you do that and more when you follow BRI on LinkedIn. 1. Learn about new tools for your employees Lack of employee understanding is one of the greatest barriers to increasing adoption. When […]
Simple Tips to Help Prepare for Tax Season This Year
As we welcome the first quarter of the year, we also prepare ourselves for tax season. Some of us may find ourselves dreading this task, knowing that we typically feel a little lost or overwhelmed when it comes to the specifics of filing our taxes. Rather than dealing with the same old confusion, use these […]
