My Life in Benefits Age 45: Mammogram Screening
I know my last few posts have focused quite a bit on either me or the kids. But this time, I’m actually going to turn my attention to my wife, Samantha (Sam). Now that we’re both in our mid 40s, there are certain health precautions that are becoming more relevant. For her, that’s a mammogram. […]
How can we make IVF and insulin more affordable?
Anyone who has encountered IVF treatments or insulin payments is familiar with the overwhelming costs associated with each. In some instances, insurance may be available to ease the sky high payments. But in other cases, insurance is not available or is simply not enough. This article will explore why insurance doesn’t cover IVF and ways […]
Top 8 places to use your Health FSA
There are many ways to use a Health FSA. Some of the places might surprise you. The FSA Store The FSA Store is one of the best places to buy items with your Health FSA. It’s the one stop shop for eligible expenses. From sleep assistance to medical braces and support to kid friendly items, […]
What Harry and Meghan’s story could have looked like
Over the last several days, news of Prince Harry and Meghan Markle’s baby, Archie Harrison Mountbatten-Windsor (henceforth referred to as Baby Sussex) has spread around the globe. The arrival of the baby comes almost exactly a year after the couple joined in wedded bliss in May 2018. Speaking of wedded bliss and babies, this couple […]
A Dependent Care FSA or the child and dependent care tax credit?
If you have children, you know that the price of raising them and giving them the best life adds up quickly. However, there are ways you can save on certain expenses. Two of the most common options are a Dependent Care FSA or the child care tax credit. To decide which one to use, it’s […]
Use one account for vision and dental expenses
Insurance can be a bit of a pain to sign up for, but in the end, most people are happy they have it. However, there are times when insurance doesn’t cover the full cost of an expense. This is where pre-tax accounts come in. There are different types of pre-tax accounts. If you have an […]
Pre-tax terms: R is for “Rollover”
In this post, we’ll provide a bit of background about what the Flexible Spending Account (FSA) rollover option is and how it works. We’ll also cover details about when it applies and what to expect in different situations. What is the FSA rollover option? The FSA rollover option is offered by some employers to employees […]
My Life in Benefits: Age 35- Why a Limited FSA was the clear choice
This is the fourth post in our “My Life in Benefits” series. New posts are published the first Thursday of every month in five year increments. Read the first post here. In case this is the first post you’ve read, I’ll give you a quick overview to catch you up. My name is Jon and […]
Are you using your Dependent Care Account the right way?
The purpose of a Dependent Care Account is frequently misunderstood. People often think it is a separate allowance for their children’s medical expenses. However, children’s medical expenses are covered under a Medical FSA. We wrote a previous article outlining the differences between Dependent Care FSAs and General Medical FSAs. To clear up some of the […]
Talking Trends: Telehealth in 2019
This Forbes article from January cites that only 17 percent of the US population has used telehealth. That’s surprisingly low, given that more than half of hospitals in the US offer telehealth services. Furthermore, 77% of patients admit they would prefer a doctor who offers telemedicine. Finally, almost every state* in the US offers coverage […]
3 ingredients you need for successful plan reconciliation
Plan reconciliation can seem complicated at first glance. To help improve your understanding of it, this post breaks down the three ingredients that make up plan reconciliation: Who it impacts How it works When it happens (timeline) Who it impacts Plan reconciliation impacts employers. Various groups of people, from Human Resources to finance, can have […]
5 things you need to understand about new benefits
Understanding new benefits is something of an art. Get started with this list of 5 things you need to know about new benefits. Make sure you know what account(s) you have There is often confusion on what accounts people enroll in. Knowing the difference between an FSA, HSA and HRA is important. Another pre-tax benefit […]
5 Most Read Blogs of 2018
They’re here. The five most read blogs of 2018. You (and our web analytics) picked them. We just compiled them. How Do HRAs Work? Health Reimbursement Accounts can be a bit of a mystery. This post sought to uncover their nuances by answering three questions: What is an HRA? How do HRAs work? What are […]
7 ways to use up your FSA money in 7 days
Next week is the last full week of December. The nation takes a cup of cheer and stocks up on presents, laughs and joy for the coming year. In the middle of it all, there is the underlying sense that life still has to keep moving forward apart from the holidays. The dog still needs […]
Were you “sniffed” this year?
We all know at a fundamental level that discrimination is a bad thing. So, non-discrimination testing must naturally exist to verify that you are not discriminating against employees. First reactions might be…”Non-discrimination testing? We don’t need that. We treat all employees the same regardless of gender, race or other protected classes.” Unfortunately, when it comes […]
2019 Pre-tax Limits Announced
The IRS released the 2019 pre-tax limits for Mass Transit, Parking, Medical FSA and Adoption Assistance. The limits are effective for plan years that begin on/or after January 1, 2019. 2019 Mass Transit and Parking Limits Maximum Election: $265 / month (up from $260 / month in 2018) 2019 Medical FSA Limit Maximum Annual Limit: $2,700 (up […]
Once bitten, twice shy: Why employees don’t re-enroll in an FSA
If you have low enrollment rates for Flexible Spending Accounts (FSAs), you aren’t alone. While health insurance benefits are front and center during open enrollment, FSAs often feel like a well-kept secret or afterthought. Creating awareness of the benefit is a common goal during re-enrollment. However, a less commonly addressed issue is when employees who previously […]
Look into our Crystal Ball: The Future of Pre-tax Benefits
With mid-term elections less than a week away, many are tired of all of the political ads. Others are working hard to advocate for their candidate. In the end, votes will be cast. And, legislative priorities will be set for the next two years. As we look into our crystal ball, the future of pre-tax […]
Finding the sweet spot for your FSA election
If you have a Flexible Spending Account (FSA), you know that every year during Open Enrollment (OE), you choose how much to put aside in the account, otherwise known as your election. Recalling Stephen Covey’s second habit of highly effective people – begin with the end in mind® – you can base your election off of […]
Flu season is here- are you ready?
Remember TheraFlu and Emergen-C? They will be making a reappearance shortly, along with the flu virus. Before flu season takes full effect, there are several preventative measures you can take early. Add them to your yearly routine to decrease your chances of catching and spreading the virus. Get a Flu Shot Visit an on-site flu […]
Why an FSA is not the same as an HSA
Trying to choose between a Flexible Spending Account (FSA) or Health Savings Account (HSA) can be a challenge. But weighing these two pre-tax plan options is similar to a process many of us are more familiar with— car shopping. When shopping for a car, your first decision might be whether you want to buy or […]
Five Questions to Implement a Pre-tax Benefit Plan
So, you’ve decided to implement a pre-tax benefit plan. Whether you’re implementing a plan for the first time, adding a new plan option, or moving to a new administrator, change can be difficult. But you can streamline the process to implement a pre-tax benefit plan by understanding and answering these five questions. 1) What plan(s) […]
When employees ask “Am I eligible for…?”
Employees can find eligibility requirements confusing. HR managers can, too. Because let’s face it– the rules and regs around eligibility aren’t always easy to understand. But they aren’t impossible to understand, either. (Thankfully). You just need to get the basics and then commit to understanding the nuances. Ready to jump into the eligibility pool with […]
Heigh-ho, heigh-ho, it’s off to work you go…
Have you ever wished you could wave a magic wand to help you through life’s harder moments, like facing unemployment or paying for your $200 monthly commute? Unfortunately, we don’t have a wand to offer you. But we can play the part of the fairy godmother and offer you advice on how to use your […]
