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Tag: Health Savings Accounts

10 Group Benefits with Tax Credits

Posted: April 13, 2024

With Tax Day just around the corner, many businesses are looking for ways to maximize employee tax savings and benefits. While it may be too late to enjoy these tax savings for 2023, there are still valuable opportunities to explore for future tax years. Here are 10 group benefits options that receive tax credits that your business should consider: 1. Health Insurance Offering health insurance...

What can I use HSA funds for?

Posted: March 13, 2024

Health Savings Accounts (HSAs) have become a popular tool for managing healthcare costs while enjoying tax advantages. Understanding the scope of qualified medical expenses that can be paid for with HSA funds is crucial for maximizing the benefits of this financial tool. Let’s delve into the specifics of what you can use HSA funds for. Qualified Medical Expenses HSAs are designed to cover a wide...

Which savings plan is right for me?

Posted: November 13, 2023

In managing your healthcare expenses and saving for the future, two popular options often come into play: Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs). While both offer tax advantages for covering medical costs, some key differences can impact your financial strategy. Comparing and contrasting HSAs and FSAs can help you determine which savings plan is right for you. Health Savings Accounts (HSAs): An...

Here’s How to Use HSA Funds for Family Members

Posted: August 28, 2023

Can you use your health savings account (HSA) to pay for the expenses of family members and dependents? For specific family members, the answer is definitely yes. Here is a look at how the IRS allows you to use your HSA to pay for the healthcare costs of your loved ones. Who Qualifies to Have a Health Savings Account? Under IRS requirements, to qualify for...

Benefits That Will Spread a Little Cheer to Your Employees

Posted: December 13, 2022

Your employees rely on your company's benefits, including health insurance, dental insurance, or even the cost of education. The better the benefits package, the more likely you will attract the best talent – benefits are a factor in a competitive job market. Even with an excellent benefits package, spread a little cheer to your employees during the holidays by offering some unique benefits. Holiday Bonuses...