Employers and employees can access their portals via the links below. Any forms that need updating can be found on the forms page.
The Dependent Care FSA is used to pay for eligible dependent care expenses. A few qualified expenses include but are not limited to child care, elder care, nursery school and more. The 2019 maximum annual contribution limit for a Dependent care FSA is $5,000. This plan is a smart, simple way to save money while taking care of your loved ones.
Healthcare FSAs can be used to pay for qualifying healthcare expenses, including medical, dental, and vision costs, that are not covered by health insurance plans. By offering a Healthcare FSA, participants are able to pay for these qualified expenses incurred during the plan year as an active participant. The 2019 annual contribution limit for a Healthcare FSA is $2,700.
A Limited Healthcare FSA is exclusively designed to offset the cost of dental and vision expenses. This FSA program is available to employees who are enrolled in a high deductible health plan (HDHP) as well as an HSA. Limited Healthcare FSAs offer additional tax savings for employees, which in return increases plan participation!
The qualified small employer health reimbursement arrangement (QSEHRA), also known as a small business HRA, is a company-funded, tax-free health benefit used to reimburse employees for personal health care expenses.
A health reimbursement arrangement (HRA), sometimes called a health reimbursement account, is an IRS-approved, employer-funded, tax-advantaged health benefit used to reimburse employees for out-of-pocket medical expenses and personal health insurance premiums.
MERP stands for Medical Expense Reimbursement Plan and is any plan or arrangement under which a business reimburses an employee for out-of-pocket medical expenses incurred by employees or their dependents. If administered correctly, all reimbursements are paid to the employee 100% tax-free.
The ICHRA is a formal, tax-advantaged health benefit that allows businesses of all sizes to reimburse employees for medical expenses, including individual health insurance.
The EBHRA permits employers that offer a group health plan to provide an annual pre-tax limit up to $1,800 (indexed to inflation after 2020), even if the employee does not enroll into the group health plan. An EBHRA may be offered to all employees to cover co-pays, deductibles, premiums for vision or dental insurance, and it may also cover COBRA continuation and some short-term insurance.
Health Savings Accounts (HSAs) are a handy way to save for medical expenses and reduce taxable incomes. If you are enrolled in a high deductible health plan (HDHP), you can qualify for an HSA. This plan is a valuable tool that offers significant savings over traditional insurance plans because it allows employees to utilize it as a deductible funding vehicle as a retirement savings strategy! Employees can invest money, once they have reached a minimum balance in their HSA, growing their account over time! Like a 401K, participants can set up allocation models for future contributions and can also transfer money to or from their account at any time. So, what makes HSAs so great?
Unlike other plans, HSAs offer greater tax benefits, flexibility and portability to participants. On average, participants save 30 percent on their healthcare costs while utilizing an HSA. During the open enrollment period participants are able to determine their contribution limit up to the IRS maximum. However, employees are allowed to change their elected amount at any point during the year. Additionally, participants are able to take their HSA with them if they leave their current employer.
Premium Only Plans (POPs) are the building blocks of the Section 125 plan. These plans allow employees to pay their health insurance premiums with tax-free dollars and save up to 40 percent on federal income taxes alone. This plan is a great solution to companies who want to offer tax benefits to eligible employees but who do not want to invest into a full pre-tax benefit plan.
Adoption Assistance Programs are designed to help adoptive parents meet costly needs. Reasonable and necessary adoption fees, court fees and other expenses can be reimbursed under an FSA program.
One of the most generous benefits a company can offer is an Education Reimbursement Account. This benefit program is a contractual agreement between employer and employee that outlines specific terms under which the employer may pay for the employee’s continued education.
Under the Healthcare Reform package, eligible small employers are now able to establish a new type of cafeteria plan known as the Simple Cafeteria Plan. This new plan is an employer-sponsored plan which gives employees the option to select benefits or cash.
This account is an employer-sponsored benefit program that allows participants to set aside pre-tax dollars into separate accounts to pay for qualified mass transit, van pooling and parking expenses associated with their commute to work. By offering this plan, employers are able to attract and recruit employees while also obtaining savings on FICA taxes. On average, employees saved 30 percent and employers saved 7.5 percent when this plan was implemented.