Employee benefits play a pivotal role in attracting and retaining top talent while fostering a positive work culture. However, designing a comprehensive benefits strategy requires careful consideration, especially within the regulatory framework of laws like the Consolidated Appropriations Act. In this article, we’ll explore the essential steps to creating an effective employee benefits strategy while...
In March, Congress passed the Coronavirus Aid, Relief, and Economic Secutiry Act. This page contains news, videos and Frequently Asked Questions about the CARES Act. April 6, 2020 – WASHINGTON – The CARES Act includes the Paycheck Protection Program, which guarantees loans to small businesses affected by COVID-19. Ameriflex Senior Counsel, Donna Wilkinson, explains the details in…
Keep your employees safe and financially secure when disaster strikes Under IRS Code Section 139, a Qualified Disaster Relief (QDR) account gives employers the ability to reimburse their employees for disaster-related expenses resulting from COVID-19 on a pre-tax basis. Employers may make payments to cover the increased per-employee costs such as: Personal, family, living or funeral expenses…
If you have a Flexible Spending Account (FSA) or a Health Reimbursement Account (HRA), you may have received an email requesting a receipt for a purchase you made – even for an expense that was perfectly eligible. You might be wondering why your card was initially approved and then after your purchase you’re asked to…
You’ve seen this movie a thousand times. There’s only a handful of weeks left in the plan year, and unless your employer offers an FSA rollover, you’re rushing to use any money you still have in your Flexible Spending Account (FSA) or it will be forfeited. If you’re like the 44% of people surveyed who…
If you are in the business of selling, providing, or administering tax-advantaged health plans, you likely already understand the benefits of a flexible spending account (FSA). But for the millions of people who don’t, the benefits can seem rather unsubstantial. That’s why it is your job to articulate these benefits in a way that people…
Across the nation, tons of companies are jumping on the HSA and HSA- qualified high-deductible health plan train. But, before you dive in, both employers and employees have questions about how to make it work. Here are some frequently asked questions you might have before rolling out a successful HSA offering. How do I spread…
At an orientation session for my first real job out of college, many (many) years ago, an HR manager explained to our new hire class the benefit of investing in the company 401(k) plan. For a 20-something living paycheck to paycheck, seeing any dollar amount, no matter how small, disappear into an investment vehicle instead…
Comparing three of the most common tax-advantaged benefits: Flexible Spending Account (FSA) Health Savings Account (HSA) Health Reimbursement Account (HRA) Choosing the account that best fits your needs is essential for getting the most out of your benefits during the plan year, but it can also impact the future. Let’s take a closer look. What…
Flexible spending accounts (FSA) and health savings accounts (HSA) are creatures of the federal tax code, which is notoriously complicated. To try to make things easier, we in the benefits industry sometimes use shorthand, but sometimes these only complicate things further, especially to those unfamiliar with benefits suchs as FSAs and HSAs. Especially confusing are…