An employee could use their flexible allotment toward a gym membership, a green car or even pet medical expenses aid, for example, without having to pay out of pocket. This approach could help protect employers because it gives employees agency over their benefits and helps change employee behavi...
For example, deductions cannot be made from final wages for expenses the employer paid in the last pay period for medical costs unrelated to the employee's work duties. Some deductions are permissible in Washington only if the employee verbally agrees or consents in writing. This includes ...
For the employer, offering an EAP gives their staff reduced stress, decreased absenteeism, and boosts overall employee retention. Employee Counseling Finding a therapist or accessing counseling might feel out of reach for those suffering from stress or mental health issues. With an EAP, however, fin...
Pay stubs Financial questionnaire Tax returns According to the Internal Revenue Service (IRS), an employer can arrange to pay life insurance premiums for employees or adjust paychecks to pay for life insurance. Learn More: The Problem With Employer-Provided Life Insurance Getting The Right Term Insu...
An employer might mistakenly believe that by paying for the employee’s medical bills and then asking them to sign a waiver, they have shielded themselves from a Worker's Compensation claim. This couldn’t be further from the truth. An employee can’t waive his or her statutory right to Wo...
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First of all, can we explain why keeping track of your HSA qualifying expenses is important? Well, anytime you wanna take money out of an HSA to pay for medical expenses, that that distributions tax free. So you think, you put, you know, you put some tax free, I’m sorry, you ...
A health reimbursement arrangement (HRA), also referred to as a health reimbursement account, is another option for health care expenses funded by an employer. In the case of an HRA, an employer provides a group health plan where employee medical expenses may not be covered up front, but em...
Here's how much you'll pay in 2025. more Simplified Employee Pension (SEP) IRA: What It Is, How It Works A simplified employee pension (SEP) is a retirement plan that an employer or a self-employed individual can establish. They are more common with small businesses. more 5-Year ...
a savings account or a certificate of deposit (CD). And then there are special retirement accounts. For instance, you may participate in a 401(k) sponsored by your employer, fund your retirement account (IRA) on your own, or both. Learn how to continue funding your IRA after you retire...