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2018 HSA contribution limit

January 9, 2017

What are participation rules for carriers?

Insurance carriers often require a threshold number of employees (usually some percentage of the total number of employees) to elect coverage for the group to qualify for insurance. This is called a participation requirement. However, depending on the reason an employee declines coverage, some employees that decline insurance won’t be considered at all when calculating […]

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2018 HSA contribution limit

January 9, 2017

How do Archer MSAs work?

How to Qualify for an Archer MSA – Your company has 50 employees or less, or you’re self-employed, – Your medical insurance is a high-deductible health plan, and – You don’t have any other healthcare coverage, such as Medicare. For more information, check out the relevant Federal regulations. Few states have regulations concerning Archer MSAs, […]

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2018 HSA contribution limit

January 9, 2017

Can an employee enroll dependents other than their children under their insurance?

Yes. If an employee wants to enroll dependents, such as siblings, under their insurance, they can do so by enrolling them as a “qualifying child” during the enrollment process. Parents as Dependents Depending on specific carrier rules, parents can also be enrolled as dependents, but they must share the same address as the employee, be […]

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2018 HSA contribution limit

January 9, 2017

What are the advantages and disadvantages in a dog-friendly workplace?

Allowing dogs into the workplace is quickly growing trend in offices across America. Although pro-pet policies are generally appreciated by pet and animal loving employees, there are certainly some pros and cons to carefully consider before deciding if such a policy is right for your company. Pros It’s worth noting that the pros to allowing […]

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2018 HSA contribution limit

January 9, 2017

Which is better: a dependent care FSA or a tax credit for childcare expenses?

A dependent care FSA is better for employees who can access it because these pre-tax deductions can substantially reduce the employee’s income, social security and medicare taxes. Plus, it saves even more if your state imposes income tax and other types of taxes. Dependent care tax credit is for those who can’t access a dependent […]

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2018 HSA contribution limit

January 9, 2017

What are in-state rules for carriers?

In-state rules mainly concern insurance carriers’ requirement that a certain percentage of your employees who enroll in your group health plan live in the state where your coverage is written (usually where your company is headquartered). For example, if you have 100 employees, your insurance carrier may require 80% to live and work in California. […]

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2018 HSA contribution limit

January 9, 2017

What is max coverage for a dental plan?

Most dental plans have an annual dollar maximum (max coverage). Max coverage is the most your insurance company will pay for dental costs incurred during your plan year. Example If you have a root canal for $750 and your dental plan covers 90% of the cost, your insurance company will pay $675, and you’ll pay […]

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2018 HSA contribution limit

January 9, 2017

Can an employee use her FSA, HSA or HRA to pay for her Lasik eye surgery?

Short Answer Yes, generally, but check with your healthcare plan administrator on individual situations. IRS Publication 969](http://www.irs.gov/publications/p969/ar02.html), which explains FSAs, HSAs, HRAs and other tax-favored health plans, states that medical procedures are eligible if they are considered medical expenses by [IRS Publication 502. This includes Radial Keratotomy (RK), as well as other types of corrective […]

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2018 HSA contribution limit

January 9, 2017

Can an employee participate in the FSA if he declined medical insurance because they are on their spouse’s plan?

According to the IRS](http://www.irs.gov/publications/p969/ar02.html#en_US_2014_publink1000204178), there’s no law prohibiting an employee from participating in a [Flexible Spending Account if they’re not on their company’s health insurance plan. FSA Eligibility As the IRS notes, health FSAs are employer-established benefit plans. As an employer, you may choose to offer this in conjunction with other provided benefits (such as […]

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2018 HSA contribution limit

January 9, 2017

How much can an employee and employer contribute to an employee’s FSA each year?

Employees decide how much they would like to contribute to their FSA every year. The 2015 Medical FSA contribution limit is $2,550. If the employee is married, filing jointly, the dependent contribution limit is $5,000. If the employee, is married, filing separately, the limit is $2,500. Employers can decide to match employee contributions in the […]

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2018 HSA contribution limit

January 9, 2017

Can an employee use their HSA for non-medical expenses?

In addition to being used for medical expenses, HSAs can also serve as investment or retirement accounts, as the account belongs to the employee. The funds in an HSA can be used for general non-medical purposes, without penalty, once the employee reaches age 65. Any withdrawn funds used for non-medical purposes are still subject to […]

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2018 HSA contribution limit

January 9, 2017

What is the average cost of dental insurance?

The cost of dental insurance varies considerably based on the number of employees, coverage, and location. Though, an average cost that a smaller employer in California would pay to provide dental insurance ranges from $20 and $50 per person per month. The employer can contribute towards the premium to lower employee costs and encourage higher […]

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