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2022 FSA Contribution Limits, Max Carryover, Transit Benefits
In Revenue Procedure 2021-45, the IRS published details on how Flexible Spending Accounts (FSAs) and qualified transportation benefits can be used in 2022. The adjustments accounts for inflation, and
Continue readingTips to Help Employees to Have a Great Enrollment Experience
Each Fall, typically between mid-October and mid-December, companies set aside a period of two to three weeks to allow employees to pick and choose which benefits they want for the upcoming year.
Continue readingEye Care During a Pandemic
Eye care during a pandemic may not seem like a top priority. Taking care of our eyes is always important, both for how we see the world and how the world sees us. But, the COVID-19 pandemic has caused
Continue readingVIDEO: 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
Continue reading9 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,
Continue readingQualified 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. With
Continue readingCOVID-19 PPE Eligible For FSA, HRA, HSA
In March 2021, the IRS released Announcement 2021-7, which qualifies PPE bought for the primary purpose of fighting COVID-19 as eligible medical expenses under section 213(d) of the Internal Revenue
Continue readingWhy 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 or
Continue readingUse-It-or-Lose-It FSA Dollars: Time is Running Out
We have just a few weeks to go before the end of 2022 – 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 who
Continue readingVIDEO: 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
Continue readingFAQ: 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 lower
Continue readingEnrollment: How Much Should I Put In My FSA? (Or HSA?)
During enrollment season, your company will likely be talking about benefits. If you participate in your employer’s plan, you’re probably wondering, “How much should I put in my
Continue readingShould I Sign Up for a Flexible Spending Account?
Between September and December many companies start allowing their employees to sign up for benefits for the next year – which often includes health, dental, life and vision insurance. Some
Continue readingPop 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.
Continue readingMan-care: Health and Eligible Expenses for Men
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 to help you manage your personal
Continue readingBenefit 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
Continue readingLove 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. From less depression and substance
Continue readingTips for Reducing Medical Costs for Healthcare Consumers
The cost of healthcare may be a sizable portion of person’s or families’ annual expenses. In 2020, workers paid an average of $5,588 toward the cost of their coverage. Therefore, it is
Continue readingLPFSA 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
Continue readingFSA 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. According to the Bureau
Continue readingVIDEO: 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
Continue readingFSA 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. However,
Continue readingBenefits 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
Continue readingVIDEO: Captain Contributor Explains Preparing for Enrollment
Questions About Enrolling in Your Benefits A lot of people don’t fully understand their benefits package, and blindly make important healthcare choices. This year, challenge yourself to do
Continue readingMore Online Retailers Accept Benefits Cards
Amazon.com accepts pre-tax healthcare benefits cards as a form of payment. The giant online retailer joins other companies, like FSAStore.com, HSAStore.com, and Walgreens, (among others) as online
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