The time is now to disrupt open enrollment! While much of the work in the last months has been focused on rate renewals and designing your benefit offerings, the focus must now shift to the open enrollment communication plan. With a few years of digital open enrollments behind us, it is key to identify barriers...
We’re halfway through the year—have you checked in on your employee benefits? If you’re like many employees, you might only think about benefits during open enrollment. But taking a mid-year look at your benefits can help you maximize your options, adjust to any life changes, and plan ahead. Here’s why this check-in is important and...
Congress passed and President Trump has signed into law the One Big Beautiful Bill Act – and it’s a game changer for health savings accounts (HSAs). In a recent episode of the WEX podcast, Chris Byrd, WEX Health & Benefits senior vice president, breaks down the most impactful provisions of the bill, including expanded health...
In today’s world where financial security feels increasingly elusive, Gen Z and millennials are rewriting the playbook on how they save, spend and invest. Yet, one of the most underutilized tools in their financial arsenal is the health savings account (HSA). Despite its potential to revolutionize both short-term healthcare spending and long-term wealth building, many...
The IRS requires flexible spending account (FSA) participants to submit documentation to prove their purchase was an eligible expense. The IRS emphasized these requirements and potential penalties for employers not meeting the requirements when releasing an Office of the Chief Counsel memorandum detailing medical expense claim substantiation for medical FSAs and dependent care FSAs. That’s...
Dental expenses can be a significant financial burden, especially when unexpected dental procedures arise. For those who have health savings accounts (HSAs) or medical flexible spending accounts (FSAs), there are opportunities to save money on these expenses. Below we answer a few common dental-related questions as it relates to your HSA or medical FSA. ...
Rising healthcare costs are a growing concern for employees and employers alike. With premiums, deductibles and out-of-pocket expenses increasing, employees may struggle to afford necessary care. As an employer, you have the power to support your workforce by providing cost-saving solutions and promoting smarter healthcare decisions. Here’s how you can help employees navigate and reduce...
The IRS recently announced the 2026 Limits for HSAs, HDHPs and EBHRAs! Learn more about these limits below! The new 2026 limits are: HSA Annual Contributions Single $4,400 per year Family $8,750 per year HDHP (self-only coverage) $1,700 minimum deductible $8,500 out-of-pocket limit HDHP (family coverage) $3,400 minimum deductible $17,000 out-of-pocket limit EBHRA $2,200 ...
Employee benefits are a critical component of workplace satisfaction and overall wellness. However, traditional benefits programs are often riddled with complexity, making it challenging for employees to fully understand and utilize their options. Simplification is the key to driving better engagement, increasing participation and reducing administrative burdens for HR teams. This is the first part...
When it comes to using pre-tax health accounts like health savings accounts (HSAs), flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs), you may assume that all medical expenses are...
March is Women’s History Month, a time to celebrate the achievements of women across industries—including finance. While women have made incredible strides in wealth-building and financial independence, there are still...
With the 2024 U.S. election potentially leading to significant shifts in employment laws and employee benefits, it’s crucial for employers to stay ahead of changes to maintain compliance. New regulations...
February is Heart Health Awareness Month, a time to focus on cardiovascular wellness and encourage employees to take proactive steps toward a healthier heart. Heart disease remains the leading cause...
For most of you, a new plan year has begun! And just because you have an entire plan year ahead doesn’t mean you should wait until November or December to...
Open enrollment is an important time for HR professionals and employers, since it’s the moment employees make decisions that impact their health, finances and overall wellness for the coming year....
For many, winter is as synonymous for snowflakes as it is for sinus problems. Fortunately, health savings accounts (HSAs) and flexible spending accounts (FSAs) cover many common winter eligible expenses...
Have you recently changed employers? Or are you considering making a change? Fortunately, when you participate in a health savings account (HSA) through your employer, your HSA stays with you....
As we enter another season of open enrollment, one crucial topic is top of mind for many employees: HSA and FSA compliance. Health savings accounts (HSAs) and flexible spending accounts...
When it comes to navigating the world of employee benefits, there’s a lot to take in, especially if you’re a first timer. Among the suite of benefits you’re likely to...
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