2024 FSA Contribution Limits Announced
The IRS announced the new limits on November 9, 2023. Request a Proposal Highlights of changes coming in 2024: FSA Contributions: Contributions to a healthcare flexible spending account have increased $150 to $3,200 – up from $3,050 in 2023. FSA Carryover Amount: If the employer allows for carry-over, FSA participants can now carry over $640 […]
Read MoreWhat Are Qualifying Life Events and How Do They Affect My FSA?
Qualifying life events can affect the type of coverage and contribution for health insurance, so it’s important to understand what situations the FSA considers. While you can’t change your contribution any time you want, FSA qualifying events mean you can change your coverage outside of the open period. We understand that saving on healthcare costs […]
Read MoreTax Benefits of Flexible Spending Accounts for Employers
Flexible spending accounts are an increasingly popular employee benefit that offers tax advantages for employees and employers. FSAs enable employees to put aside pre-tax dollars to cover eligible medical and dependent care expenses. While employees benefit from reduced taxable income and cost savings, employers can also take advantage of tax benefits associated with offering FSAs. […]
Read MoreFSA Eligible Sunscreen with Skincare Benefits
Summer is in full swing and you’ve probably been enjoying the extra daylight, warm temps, and (hopefully) slower days. But sometimes swimming, time spent outdoors, and long walks with your dog can result in damage from the sun like skin irritation from sunburn, dry skin, or even uneven patches. So how do you take care […]
Read MoreMust-have FSA eligible products for your kids’ spring break
As March gives way to April, it is officially spring and before you know it, your kids will be home from school for their annual spring break. This is typically a very busy week for most families, as they are beginning to enjoy the great outdoors, taking vacations and generally enjoying everything the new season […]
Read MoreNew Relief Provisions for FSAs in Consolidated Appropriations Act of 2021
Welcomed Updates Pertaining to Flexible Spending and Dependent Care Accounts Announced On December 27th, 2020, The President signed the Consolidated Appropriations Act of 2021 to fund the government and provide economic relief in response to the pandemic. Discover Our FSAs With this Act comes notable changes to Flexible Spending Accounts (FSAs) and Dependent Care Accounts (DCAs), which […]
Read MoreNew FSA-eligible items available under the recently passed CARES Act
On March 27, the President signed into law The Coronavirus Aid, Relief and Economic Security (CARES) Act. The bill contains two changes to eligible expenses for FSAs, HSAs and all IRS eligible HRAs. Discover Our FSA Product Two categories of eligible expenses for tax-free accounts have been added effective as of January 1, 2020: 1. […]
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