DCAP
The Value of Consumer Directed Healthcare Accounts
The infographic below details the value of consumer-directed healthcare accounts. Learn more from this overview of HSAs, HRAs, FSAs, and other helpful information. What is a Consumer Directed Healthcare Account? A consumer-directed healthcare (CDH) account is a type of medical savings account that: There are three primary types of CDH
Getting Ready for Enrollment Season
Are you ready for enrollment season? Open enrollment is when you review your benefit options and choose which ones to renew or enroll in for the next year, like health insurance, life insurance, and tax-advantaged healthcare accounts. Whether you sign up for benefits through an employer or enroll through an
FSA Status Changes and Contributions
In addition to health insurance eligibility, family status changes can impact consumer-directed healthcare accounts. Here’s how mid-year status changes affect FSA and Dependent Care accounts. Can I change my health FSA contributions? Employees may choose FSA participation during open enrollment. This includes deciding on an annual contribution amount up to
Benefits for “Unretiring” Workers
Baby Boomers, born between 1946 and 1964, have significantly impacted American society and the workplace. A generation known for hard work and professional loyalty, many were forced to retire early due to pandemic-related concerns. However, many are now re-entering the workforce. Characteristics of the Baby Boomer Generation Although 65 is the
4 Things to Know About Limited-Purpose FSAs
Many of you are familiar with healthcare Flexible Spending Accounts (FSAs). Employees set aside a portion of their pay before taxes are calculated and use the money to pay eligible medical expenses. Less well-known is the Limited-Purpose FSA (LPFSA). Here are 4 things to know about limited-purpose FSAs. What do
Child Tax Credit, Dependent Care Program Changes for 2022
The American Rescue Plan Act (ARPA) expanded the Child Tax Credit (CTC) program in 2021 in response to pandemic-related dependent care challenges. This expansion had a chance to be made permanent. However, as 2021 ended, the legislation containing this provision did not pass. Since the advance payments have ended, qualified
DCAP Benefits and the Sandwich Generation
Life expectancy in the U.S. has gone up over the years thanks to a variety of factors. However, longer lifespans are creating a conundrum for many Americans. Millions of people in the workforce find themselves caring for their children and aging parents/relatives at the same time. A Dependent Care Assistance
Planning for Getting Back to the Office
For over a year and a half, a large percentage of the American workforce has been working remotely. While many employees are happy to continue that model, employers in general are eager to have their staff return to the office. This can be a big adjustment for everyone involved. “The
