Navigating Inflation and the Strategic Role of Employee Benefits
In the dynamic landscape of the modern workforce, employers and HR professionals are faced with the challenge of not only attracting top talent but also ensuring the well-being of their existing employees. One often-overlooked aspect that plays a pivotal role in employee satisfaction, particularly during times of inflation, is the impact of rising costs on […]
Celebrate National Financial Awareness Day with BRI and Inspira Financial
Join BRI, an Inspira Financial solution, and Inspira Financial in celebrating National Financial Awareness Day on August 14th! On National Financial Awareness Day, we have the chance to examine how wealth and health solutions interact to give real benefits to individuals. The modern workforce depends on companies to offer benefits that are well-considered and practical. […]
Provide Retirement Benefits and HSAs to Empower Employees
It’s critical for businesses to highlight employee financial wellbeing leading up to August 14th, National Financial Awareness Day. Financial wellbeing affects more than just an individual; it also has a significant impact on the overall health of a business. Stress related to money can affect an employee’s general well-being, job happiness, and productivity. Because they […]
Managing Employment Complications and Pre-Tax Benefits
Facing unemployment or managing a $200 monthly commute can be challenging. While we can’t offer a magic solution, we can provide practical advice on utilizing pre-tax benefits to improve your situation. Managing Job Loss with COBRA Job loss can be a stressful experience, especially when it comes to maintaining coverage for you and your family. […]
Having a Baby? Use Your Pre-Tax Funds to Save
Whether you’re planning for a baby or currently expecting; congratulations! Having a baby can be expensive, but it’s never too early to start saving. The cost of having a baby is no small fee. Even with health insurance, labor and delivery can cost around $5,000, and without insurance, it can be upwards of $40,000. And, […]
Commuter Benefits and HSAs: Two of a Kind
Commuter Benefits and Health Savings Accounts (HSAs)? You might ask yourself, “What do they have in common?” One is for workplace commuting. The other is for eligible medical expenses. Surprisingly, Commuter Benefits and HSAs actually share at least 3 common traits (in addition to the tax advantages) to make them powerhouse benefits. FUNDS AUTOMATICALLY ROLL This is […]
Building a Secure Future with Health Savings Accounts
One choice that sticks out in the ever-changing world of employee benefits for both employers and employees is a Health Savings Account (HSA). HSAs present a special chance to successfully address healthcare needs while constructing a solid financial future. Leveraging HSA funds can be a game-changer for organizations looking to improve benefits packages and encourage […]
The Role of HSAs in Maximizing Retirement Benefits
As an employer or HR manager, you’re constantly seeking ways to enhance your employee benefits package, ensuring it not only attracts top talent but also supports their financial well-being throughout their careers and into retirement. One often-overlooked gem in the world of benefits is the Health Savings Account (HSA). While traditionally associated with healthcare expenses, […]
Tips for the Early Plan Year
Pre-tax benefits are a powerful tool for saving money and maximizing your income. From flexible spending accounts (FSAs) to health savings accounts (HSAs) and commuter benefits, these options offer significant advantages if managed wisely. As the new plan year kicks off, it’s the perfect time to dive into the basics, understand how these benefits work, […]
What These 10 Common Pre-tax Terms Really Mean
Navigating the world of pre-tax benefits can sometimes feel like deciphering a complex code. With terms like “substantiation” and “HRA” it’s no wonder many find themselves scratching their heads in confusion. Yet, understanding these terms is key to unlocking the full potential of pre-tax benefits. Whether you’re a seasoned benefits administrator or new to the […]
The Harmony of Health and Wealth with HSAs
A key player in the balance between health and wealth is the health savings account (HSA). Beyond being a traditional healthcare benefit, HSAs provide a win-win situation for both employers and employees. Understanding HSAs Health Savings Accounts are tax-advantaged savings accounts designed to help individuals and families with high-deductible health plans (HDHPs) cover medical expenses. […]
5 Myths About Pre-tax Benefit Accounts
Whether you are a participant exploring your benefit options or an employer preparing a benefits package, you may have formed certain myths about pre-tax benefit accounts. In a perfect world, we would all have a clear understanding of the different types of accounts that exist and understand how each can provide certain benefits and advantages. […]
Maximizing Health Savings and Financial Flexibility through a Well-Designed Benefits Package
Organizations are continuously looking for strategies to draw in and keep top talent in the highly competitive employment market of today. An excellent benefits package is one important component that is vital to this effort. Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are two of the most effective instruments for optimizing health savings […]
Unveiling the Power of Pre-Tax Benefits on Nurturing Employee Well-Being
Blue Monday, often dubbed as the gloomiest day of the year, casts a shadow over the workplace, affecting employee morale and mental health. As businesses navigate the challenges of a rapidly evolving professional landscape, prioritizing employee well-being has become more critical than ever. Understanding Blue Monday Blue Monday typically falls on the third Monday of […]
Top Ten Weirdest Eligible Expenses
Acupuncture. Dog food. Motion sickness wristbands. What do these three items have in common? They’re all eligible medical expenses under your health accounts. We looked far and wide to identify the Top Ten Weirdest Eligible Expenses. And the results are… 1. Acupuncture First, treat yourself to an acupuncture appointment and let them stick it to […]
Tips and Resources for Every New Plan Participant
After much consideration, you’ve made the wise decision to enroll in a pre-tax benefit plan. As a new plan participant, you will experience significant savings on eligible items and services in the coming months! To help you make the most of your account(s), here are some helpful reminders, tips and valuable resources. How do I […]
Celebrating 20 Years of Health Savings Accounts
As we celebrate the 20th anniversary of Health Savings Accounts (HSAs), it’s time to reflect on the transformative impact this financial tool has had on healthcare and personal finance. Introduced in 2003 as part of the Medicare Prescription Drug, Improvement, and Modernization Act, HSAs have evolved to become a crucial component of healthcare and financial […]
New to Benefits Education Series for HR Professionals and Advisors
In the ever-evolving realm of employee benefits, staying ahead of the curve is essential for HR professionals and benefits advisors. Understanding the intricacies of pre-tax benefit plans and COBRA regulations is crucial, but for those new to the field, it can be a challenging endeavor. Recognizing this need, Benefit Resource (BRI) has introduced a groundbreaking […]
Health and Wellness Initiatives to Boost Employee Morale in the Winter Months
As the winter months roll in, many employees can experience a dip in their morale due to factors like cold weather, shorter daylight hours, and holiday stress. As employers and HR professionals, it’s essential to take proactive measures to boost employee morale during this time. A well-rounded approach to health and wellness initiatives can make […]
5 Great Ideas for Celebrating HSA Awareness Day
October 15th is National HSA Awareness Day and it’s the perfect opportunity to educate yourself, and others, about the many benefits HSAs provide. Health Savings Accounts (HSAs) are a critical tool in the arsenal of employers who are passionate about helping their employees in the arena of healthcare. HSAs empower individuals and families to be […]
When can I make an election change to my FSA? To my HSA?
There are many common misconceptions regarding election changes when it comes to pre-tax benefit accounts. In fact, just more than 1 in 3 people understand when an election change can occur for a health savings account. (HINT: It is more often than you might realize.) This is understandable given that flexible spending accounts have been available […]
A Guide To Consolidating HSA Funds
HSAs (Health Savings Accounts) are an excellent tool for controlling healthcare costs and setting up money for the future. They are a beneficial addition to your employee benefits because of the flexibility and tax advantages they provide. It can become overwhelming, though, if you have to manage many HSAs as a result of job changes […]
Say this, not that: Taboo words in your benefits communication
We wrote a piece on benefits communication a while ago, focused on clearing up 9 confusing benefits terms. Benefits are a tricky topic. That includes pre-tax benefits. This makes proper benefits communication crucial. So, knowing that benefits communication is complicated (even if it’s not intentional), this blog will equip you to reframe confusing Open Enrollment […]
The True Value of Employee Benefits
As the business landscape evolves, companies often face the challenge of managing costs while maintaining a productive and satisfied workforce. According to Care for Business research, over 40% of HR leaders plan to recalibrate or trim their benefits offerings in the coming year. While the immediate cost-saving benefits may seem tempting, slashing employee benefits can […]
