The end of the calendar year is a great time to reconsider the state of your employees’ benefits literacy. Most companies have open enrollment season before January 1, allowing employees to select next year’s benefits. As this year’s plan starts ending, employees will look to maximize their unused benefits. As
Finding a balance between work and personal life has become a top priority for most of us. Today’s workers want greater freedom and independence to balance their obligations adequately. Employers are, therefore, compelled to reconsider their leave policies to draw in, keep, and engage top talent. The Changing Work-Life Balance
Little Rock, AR – August 12, 2024 – DataPath Administrative Services, Arkansas’s most experienced third-party employee benefits administrator, has announced a name change to Beneliance, effective immediately. The new branding highlights the firm’s nearly thirty years as a trusted ally in benefits administration for Arkansas businesses. It also reflects the
Many people like Health Savings Accounts (HSAs). They save on taxes and set aside money for medical expenses. When you join an HSA-qualified health plan and sign up for an HSA, you put pre-tax money into an account. You can then withdraw the funds for qualified healthcare expenses. The IRS defines these
Health Reimbursement Arrangements (HRAs) are tax-advantaged accounts designed to reimburse individuals for qualified healthcare costs. Introduced by the IRS in 2002, HRAs are benefits that employers can offer to current and former employees, including retirees. Over time, legislative and regulatory changes have updated HRA rules and introduced new types, such
As the temperatures rise and the days grow longer, there are a plethora of opportunities for fun and relaxation. However, these often come with increased expenses that can put a strain on your finances. Whether you’re planning a family vacation, participating in an outdoor activity, or simply want to make
An important part of consumer-directed healthcare (CDH), HSAs offer participants enrolled in HSA-qualified (HDHP) health plans a way to save on taxes while setting aside money for out-of-pocket healthcare expenses for themselves and their families. Recently, the Internal Revenue Service (IRS) announced updated annual HSA contribution limits for 2025. 2025
COBRA compliance is a critical aspect for employers offering healthcare benefits. While providing essential coverage continuation, it can also be challenging due to its time-consuming nature and complexity. Failing to adhere to COBRA requirements can expose companies to legal risks and substantial financial penalties. Understanding COBRA The Consolidated Omnibus Budget
Employees in Preferred Provider Organization (PPO) health insurance plans usually enjoy co-pays and lower deductibles but pay higher premiums. To help offset these, they can reduce healthcare expenses with a tax-advantaged Flexible Spending Account (FSA). Here are answers to the FSA questions we get most frequently. FSA FAQs What is
Specific rules govern whether or not an employee can actively contribute to a Health Savings Account (HSA). One requirement is that they be enrolled in a qualified high-deductible healthcare plan (HDHP). Another is that they cannot be enrolled in any form of Medicare. Here are some things you should know
