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 […]
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 […]
This unexpected tool can help reduce stress from COVID-19
You probably feel like you’ve done everything you know to reduce stress from COVID-19. But have you considered using your benefits from work? If you have a tax-free account like a health savings account, it might come in handy. While an HSA might not be the first thing to come to mind, this benefit account […]
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 […]
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 […]
Celebrating HSA Day with our top HSA articles
In honor of HSA Day, we decided to compile the most popular HSA articles we’ve written. We’ve composed a slew of articles in recent years, covering everything from the difference between HSAs and other accounts to how HSAs can help bolster your healthcare retirement package. These pieces range from educational to informative, covering a wide […]
HSA vs HRA: Know the differences for open enrollment
If you find making decisions about your healthcare during open enrollment scary and confusing, you’re not alone. Close to half of Americans who get healthcare through their employer feel the same way. So today, we’ll cover the differences between two pre-tax health account options you may be faced with: an HSA vs HRA. First…what are […]
Easy investments that can save you time and money
Let’s be honest for a moment…we all have good-ish intentions when it comes to saving, and (more importantly) investing our hard-earned money. If you really think about it, you’ve been pretty smart lately setting up price-alerts for that fancy patio set that you’ve always wanted. Or, you’ve been trolling sites like Walmart, Costco and Amazon […]
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 […]
Money tight? 4 ways to pay with your HSA
We’ve all encountered situations where the thought “I can’t afford that” has crossed our minds. It might have been for dinner with friends or your rent after already paying loans; maybe it’s trying to pay (after student aid) for your child’s college expense. Or maybe it was for a medical procedure, prescription or over the […]
HSA investments allow participants to invest in themselves
When talking about saving money for the future, the first thing that tends to come to mind is retirement accounts like a 401(k) or IRA. In addition to a general retirement account, consider a Health Savings Account (HSA). Making HSA investments enables you to grow this tax advantaged account at a greater rate long-term, while […]
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 […]
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 […]
2021 HSA contribution limits announced
Find details on the 2021 HSA contribution limits for individuals and families and HDHP requirements here! Note: If you are age 55 or older, you can continue to make an additional $1,000 catch-up contribution. For employers and individuals currently in a plan set at or near the minimum deductible limits, you will need to make […]
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: […]
Two easy ways to reduce your premiums
When it comes to dealing with healthcare, many of us may feel like the character Larry from the show “Curb Your Enthusiasm“. In the show, Larry goes through daily life and inadvertently runs into dozens of little inconveniences. He tries to stay calm, but it’s not always easy. A lot of us can feel like […]
Manage your pre-tax accounts wisely – here’s how
As the COVID-19 pandemic continues and unemployment rates rise, you’re probably looking to maximize every dollar that you currently have. Fortunately, you can do so through smart use of your pre-tax accounts. Step 1: Review your elections The first step is just reviewing your current elections. For the following account types, this might mean making […]
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 […]
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 […]
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 […]
