Category Archives for FSA

VIDEO: Captain Contributor Explains Eligible Expenses

Captain Contributor Explains Eligible Expenses Good news! Your FSA or HSA account now has even more spending power! The CARES Act of 2020, expanded the use of Health Savings Accounts and Flexible

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9 FSA Eligible Expenses That May Surprise You

With a healthcare FSA, your pre-tax money covers a wide range of common medical expenses. These include doctor visits, surgery and other medical procedures, prescription and over-the-counter medicines,

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Qualified Healthcare Expenses for FSAs and HSAs

When you participate in a healthcare benefits account, such as a Flexible Spending Account (FSA) or Health Savings Account (HSA), you set aside money to help cover out-of-pocket healthcare expenses.

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COVID-19 PPE Eligible For FSA, HRA, HSA

As the fight against COVID-19 continues, the IRS is helping people with the cost of personal protective equipment (PPE). On Friday, March 26, the IRS released Announcement 2021-7, which qualifies

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FSA Spending Tip: Spend Big in 2021

If you put off taking care of some expensive healthcare needs in 2020, this year could be the year to get them done. Why? Because if your employer’s plan has full Flexible Spending Account (FSA)

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Why You Should Keep Your Healthcare Receipts

When you see your physician, visit the pharmacy, or make another healthcare-related purchase, you may wonder “Why should I keep my healthcare receipts?” Whether the expense was for yourself

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Use-It-or-Lose-It FSA Dollars: Time is Running Out

We have just 4 short weeks to go before the end of 2020 – which could be a blessing. Before you ring in the new year, you may need to go on a healthcare shopping spree. There are a lot of people

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2021 FSA Contribution Limits, Max Carryover, Transit Benefits

Last week, the Internal Revenue Service (IRS) released Rev. Proc. 2020-45, announcing the annual contribution limits and maximum carryover for Flexible Spending Accounts (FSAs) and contribution limits

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VIDEO: Captain Contributor Explains Benefits Mobile Apps

Captain Contributor Explains Benefits Mobile Apps Smartphones are probably an everyday part of your life, but did you know you can use them for easy access to your benefits accounts? Whether

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FAQ: Can I have an FSA and HSA at the same time?

During enrollment season, a lot of employees wonder, “Can I have an FSA and HSA at the same time?” After all, both accounts are popular and people want to maximize their tax savings and

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Enrollment Season: How Much Should I Put In My FSA? (Or HSA?)

Enrollment season is here and your company will likely be talking about benefits in the near future. If you participate in your employer’s plan, you’re probably wondering, “How much

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Should I Sign Up for a Flexible Spending Account?

Open enrollment season is right around the corner. Between September and December many companies start allowing their employees to sign up for benefits for the next year – which often includes

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Pop Quiz! How Well Do You Know Your FSA/HSA Eligible Expenses?

It’s time for a pop quiz! Test your knowledge of eligible expenses for Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs) with the following questions. The answers are below.

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Man-care: Health and Eligible Expenses for Men

June is National Men’s Health Month. Gentlemen, if you have a healthcare benefits account, like a Flexible Spending Account (FSA) or Health Savings Account (HSA), you have a great tool at your fingertips

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COVID-19 and Benefits FAQs: FSAs, HSAs, COBRA & More

The current healthcare and employment crisis caused by COVID-19 has a lot of people wondering about their benefits. From using their healthcare benefit accounts, to childcare, to COBRA, it can all

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Benefit Election Change – Can I Update My FSA or DCAP?

By participating in your employer’s benefit plan, you probably have a lot of questions. How can I spend my benefit money? How much do I need to contribute to my account? Can I make a benefit election

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Love Your FSA/HSA: 6 Reasons to Embrace Your Benefits

“All you need is love …” We’ve all heard that before, but is it really true? Fact is, being in a loving relationship provides all sorts of health benefits. Fewer doctor’s visits, less depression

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Tips for Reducing Medical Costs for Healthcare Consumers

The cost of healthcare is no laughing matter. In 2019, workers paid an average of $6,015 towards their health coverage, and the average annual out-of-pocket cost in the United States was $1,150 per

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LPFSA Tips: A Benefits Account Made to Help You Smile

When you have a Health Savings Account, you can also sign up for a Limited Purpose Flexible Spending Account (LPFSA). Having both accounts is a great way to save even more on taxes and cover those

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Christmas and Your FSA: Creative Ways to Stuff Stockings

With just a few days before the end of the year, Flexible Spending Account (FSA) owners may need to spend down their balances. Due to use it or lose it (and even if you have the $550 carryover), losing

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FSA FAQs: ‘When Can I Sign Up for an FSA?’ and Other Questions

With the average American household spending $5,000 per person in healthcare expenses each year, it’s no surprise that Flexible Spending Accounts (FSAs) are so popular. In 2016, nearly half

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VIDEO: Captain Contributor Explains Benefits Debit Cards

Captain Contributor Explains Benefits Debit Cards No matter where you go – doctors’ offices, grocery stores, retail shops, and more – you can use a debit or credit card to pay for

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FSA vs HRA vs HSA: A Comparison with Chart

Healthcare benefits accounts can be confusing. On first glance, Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), and Health Savings Accounts (HSAs) look very similar.

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Benefits Villain Rap Sheets

NEFARIOUS ACTIONS 1) Says if you're fired from your job, you aren't eligible for COBRA benefits.  FALSE!  Eligibility is not affected by the reason you left your job

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Preparing for Enrollment Season – 5 Tips for Employees

For millions of people across the U.S., enrollment season is right around the corner. Each Fall, companies set aside a period of two to three weeks to allow employees to pick and choose which benefits

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