Health Savings Account (HSA): All funds belong to the employee. Unused balances roll over into the next year. Funds do not expire from year-to-year. Rollover funds do not count towards the contribution limit. Health Flexible Spending Account (FSA): Amounts must be incurred by the end of the plan year and do not usually carry over unless an employer allows up to $610 to carry over into the next year. Amounts that roll do not affect the maximum election that can be made for the plan year. Otherwise, employers may adopt a 2 and half month grace period that allows participants to access unused amounts remaining in their accounts. Health Reimbursement… Read MoreContinue Reading
Get Your FSA, HRA, HSA Health Accounts Comparison Chart
What’s the difference which spending account you use at your company? Download our comparison chart for a quick, simple side by side comparison. Contact your health insurance experts at Total Benefit Solutions, Inc to find out which account might be the best fit for your organization!Continue Reading
Do FSA’s and HRA’s have Reimbursable Expenses?
Health Flexible Spending Account (FSA) Health Reimbursement Arrangement (HRA) As always, don’t hesitate to contact your Total Benefit Solutions health insurance specialists today at (215)355-2121.Continue Reading
Section 125 Tax-Saving POP plan document
In this video, we feature our most popular product, the $99 Section 125 Tax-Saving POP plan document package (Core 125). It explains how employees save up to 40% in taxes while employers eliminate on average 8% of matching payroll tax when the company has a Section 125 POP (Cafeteria) plan document in place, as required by the IRS to pre-tax benefits. As always contact your Total Benefit Solutions, Inc group health insurance specialists at (215)355-2121 to find out more! Click here for more information or to order a document online.Continue Reading