Protect Your Family: Get a Flu Shot with Your Tax-Free FSA Funds
The peak of flu season, which tends to fall sometime in February or March, is upon us. If you and/or your family have held off on getting the shot for any reason, it’s time to consider getting this immunization. Fortunately, since this shot is considered a medically necessary procedure, you can have the costs of […]
5 benefits trends to watch in 2020
There are many benefits trends that we expect to take hold in 2020. Review what they are to ensure that your company is ready for 2020 and beyond. Increased use of AI while keeping the “human” in Human Resources. This goes beyond improving agility and responsiveness on websites. That’s so last decade. This is about […]
The Beniversal Card Guide for Newbies
New year, new participant, new card. Now what? If you’re a Beniversal Card newbie, you’re in the right spot. Let’s go over the basics of what to expect, shall we? Activate your card. First things first: If you’re a new participant and just got your card, activate it now. All of your plans are conveniently […]
Top 5 Questions of a Newly Enrolled Benefits Participant
It is a new year and for many, that means new benefits. Therefore, here are the top 5 questions of a newly enrolled participant. 5. How do I submit reimbursements? Reimbursements can be submitted through the BRiMobile app, through BRiWeb Secure Participant Login or by mailing a claim form. 4. How do I activate my […]
Top Blogs of the Decade
As we close out the decade, we look back at the most educational, news breaking blogs for a 2019 review. From tax reform to how-to articles, here are the top 10 blogs from Benefit Resource: Check Your Balance To quote Jerry McGuire, “Show me the money!” If you want to see your balance fast and […]
Why is my hospital bill not eligible?
While tax advantaged health accounts have many benefits, they can present challenges. One of the largest pain points for many users of these accounts is determining what the account can pay for. The items or services that can be purchased through the account are known as “eligible expenses” (sometimes called “qualified expenses”). One would think […]
7 steps to avoid losing Medical FSA funds
There are more than a few ways you can avoid losing FSA funds. Don’t over fund your account during Open Enrollment If you put too much money in your account, there’s a greater chance you won’t be able to use it all. Avoid the risk by starting off with a more conservative amount in your […]
What is a cafeteria plan? (Hint: It’s not related to lunch)
According to Wikipedia: “A cafeteria plan is an employee benefit plan offered in the United States pursuant to Section 125 of the Internal Revenue Code”. Are you asleep yet? Who uses the word pursuant in a definition? Unfortunately, this topic can often come with a lot of legalese and difficult terms. In this article, we kick […]
New California Law Requiring FSA Notices
High Level Summary New legislation in California has passed under Section 2810.7. It requires employers in California to notify employees who participate in a Flexible Spending Account (FSA) of any deadline to withdraw funds, where the deadline is prior to the end of the plan year. These California rules generally mean: Terminated employees or employees […]
2020 Pre-Tax Limits Announced
The IRS released the 2020 pre-tax limits for Mass Transit, Parking, Medical FSA and Adoption Assistance in Revenue Procedure 2019-44. The limits are effective for plan years that begin on/or after January 1, 2020. 2020 Mass Transit and Parking Limits Maximum Election: $270 / month (up from $265 / month in 2019) 2020 Medical FSA […]
3 Ways to Survive Your Company’s Benefits Enrollment
I just got my first email from our company about our upcoming Open Enrollment sessions, and I have to tell you, I wasn’t as excited as I thought I’d be. It was a little disappointing. But it made me think: What are the things I want to hear before Open Enrollment? In a perfect world, probably […]
Credit Card Security: 5 Quick Tips
These five tips will help to keep your credit card information safe. Keep your account number private Avoid sharing your credit card account number details with untrusted parties Do not give your account number to unverified representatives over the phone Don’t share your account number on insecure websites (look for https – the “s” stands […]
Which solution(s) should I choose? Comparing FSAs, HSAs and HRAs
Remember the old saying “There’s an app for that?” In the case of pre-tax benefits, we like to say “There’s a plan for that”. Regardless of your benefits problem, by comparing Flexible Spending Accounts, Health Savings Accounts and Health Reimbursement Accounts, you can find the right plan to fit your needs. Congress has developed a variety […]
How to overcome obstacles to successful plan management
There are many components to successful plan management. We will focus on three areas that often present difficulties and how they can be overcome. Plan funding vs deductions Non-discrimination Timeline for employer funding When will you fund the plan vs. when will you take deductions from employees? This funding decision commonly arises in regards to […]
The Perfect Recipe for Your Pre-tax Benefit Account Program
There is a saying that goes, “If there’s a recipe for success in life, it starts with picking the right ingredients”. Building the perfect recipe for your pre-tax benefit account program is just that — picking the right ingredients. There are many people that believe you must choose—FSA vs. HSA. We would like to challenge […]
What about adult dependent care expenses?
A Dependent Care account allows you to set aside $5,000 on a pre-tax basis to pay for eligible dependent care expenses for a qualified individual. The next two questions are: what expenses are eligible and who is a “qualified individual”? What expenses are eligible? There are many expenses that can be considered eligible. For adult […]
Selecting the right funding options
It’s time to talk funding. Given that “fun” is built into the topic, what could be more exhilarating than a good analysis of funding options? We will try to keep our excitement to a reasonable level as we explore all the “fun” options employers have when funding their pre-tax benefit accounts. DECISION 1: How are the […]
The HR playlist to power through benefits enrollment
As you’re diving headlong into benefits enrollment season, power through with some classic tunes from our Benefits Enrollment Playlist. As you’re getting started Under Pressure, Queen We know you can feel like the people in the first 30 seconds of the video. Especially those black and white clips. It’s okay. But if you start to […]
Three steps for smooth benefits implementation
September through January is benefits implementation season for many human resources personnel. It can be a lot of moving pieces all at once. However, the administrator you’re working with should help you decide which options will work best for your company and employees based on the needs you’ve expressed. A “one-size fits all” approach doesn’t work […]
Dependent FSA: Myth vs. Fact
Flexible Spending Accounts are one of the most popular tax-advantaged accounts employees choose during open enrollment. One of the main draws of these accounts is the broad range of products and services they can be used to pay for. First, you might list all the medical items and procedures you can pay with an FSA. […]
It’s National Sunglasses Day
In honor of National Sunglasses Day, we wanted to highlight eligible vision expenses you can pay for with your pre-tax accounts. As an overview, a pre-tax account is a type of benefit your employer may offer to help you cover out-of-pocket expenses. There are a variety of different plans and accounts available. Almost all of […]
Growing your family through adoption: How pre-tax benefits can help!
Let’s start by saying congratulations on your growing family! Families grow for different reasons, but about 135,000 children join their forever families through adoption each year in the United States. However, adoption can be an expensive decision. According to a November 2018 article from SHRM “Adopting a child from foster care may cost about $2,500, domestic private adoptions can […]
What is a Limited Purpose FSA?
A Limited FSA, or a Limited Purpose FSA, is one of several pre-tax accounts you may be able to sign up for through your company. It is used to pay for vision and dental expenses that are not covered by insurance. A Limited Purpose FSA can sometimes be confused with a Medical FSA. While they […]
School’s out! Now what? Summer child care tips
It can be a bit of a struggle to figure out what to do with your kids once they’re home for the summer. Dependent Care Account to the rescue! No more pencils, no more books No more teacher’s dirty looks… -School’s Out, Alice Cooper If you have a Dependent Care Account, you may be able […]
