In today’s uncertain economic landscape, employee benefits have become an essential part of compensation packages. A good benefits package can set an organization apart from others when trying to attract and retain top talent. Health and wellness benefits are exceptionally common offerings as companies understand the value of fostering a healthy and thriving workplace. Alongside Read more…
Tag: Finance & Taxes
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Benefits Strategy
What is a Health Savings Account (HSA) and How Does It Work?
Are you interested in using pre-tax dollars to cover your healthcare expenses? If so, a Health Savings Account could be the answer. A Health Savings Account is a type of employee benefit that helps you save money on eligible health care expenses. It is commonly offered as an employee fringe benefit. When used effectively, this Read more…
Benefits Strategy
What is a Flexible Spending Account (FSA) and How to Make the Most of It
In 1978, an unlikely combination of tax reform legislation and a desire to save on medical costs gave rise to the Flexible Spending Account (FSA), a key employee fringe benefit still commonly used today. For most individuals with employer-funded health plans, a flexible spending account is a flexible spending arrangement where employees enjoy pre-tax savings Read more…
Benefits Strategy
Are Wellness Program Incentives Taxable?
The benefits of workplace wellness programs are endless. Not only is it useful for attracting top talent, but healthier employees inevitably lead to “lower medical claims costs, which leads to lower medical premiums, which leads to a better profit margin.” To boost engagement, most employers offer some sort of incentive to employees for participation. However, Read more…
