How does this work in practice? Imagine that your plan year ends on Dec. 31, 2022. At that point, you still have $150 left in unused funds in your FSA. Your employer offers a plan that has a grace period until March 15, 2023. On Feb. 5, 2023, you incur $400 in eligible medi...
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and patient education and counseling, as prescribed by a healthcare provider for women with reproductive capacity (not including abortifacient drugs). This does not apply to health plans sponsored by certain exempt “religious employers.”
How Health Savings Accounts Compare To Health Flexible Spending Arrangements (FSAs) and Health Reimbursement Arrangements (HRAs)Christine L. Keller
When it comes to flexible spending accounts (FSAs), “use it or lose it” is the name of the game. Approximately 8% of users leave pre-taxed salary dollars on the table, according to WageWorks, a firm that administers FSAs. Here’s how you can make it your mission to be among the...
Flexible work optionsgive parents more control over their schedule and could improve the health of that employee, plus have halo effects on others in the employee’s life. What if instead of spending the time and money on an engagement survey, you instead pulsed your employees on health outcome...
We have many obligations in life, and they can cause stress. You have to work, provide for yourself, and your family if you have one. These are essential, but it’s important to make time for yourself. When you’re taking care of your mental health, creating a self-care practice is ...
Taking care of your finances is hard work — but it pays (quite literally). To avoid overwhelming yourself, focus on accomplishing one task each month. And don't forget to pat yourself on the back along the way. After all, hard work deserves recognition. ...
A limited purpose flexible spending account (LPFSA) uses pretax dollars to cover dental and vision care expenses. In some cases, it also covers preventative care.
A health reimbursement arrangement (HRA) is an employer's plan to cover employee medical expenses. It pays employees in tax-free money to reimburse for medical costs.1 How Does a HRA Work? The employer determines the amount of money that will go into the plan, and the employee can ask to...