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 (FSAs) are often misunderstood, despite their significant financial advantages. It’s time to clarify the ins and outs of these tax-saving healthcare accounts and answer HSA...
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 be offered, voluntary benefits are often misunderstood. In this blog we explore all the unknown voluntary benefits terms and bring clarity of information to first-time...
The IRS released 2025 contribution limits for medical flexible spending accounts (medical FSAs), commuter benefits and more as part of Revenue Procedure 2024-40. These limits undergo annual adjustments to account for inflation. 2025 Medical FSA Contribution Limits (including limited and combination FSAs) 2024: $3,200 per year 2025: $3,300 per year 2025 Medical FSA...
If you’re an employer, is your in-house benefits administration team struggling to juggle the multitude of complexities behind running a successful benefits administration program? Are you spending too much time and resources trying to keep up to date with compliance changes and providing the technology and services your employees need for a positive benefits experience?...
Whether you’re transitioning from your parents’ insurance, landed your first full-time job or are simply obtaining coverage for the first time, choosing health plans and employee benefits can be overwhelming. You’ll likely hear a lot of terms and acronyms that you’ve never heard before. For starters, let’s look at a few considerations when evaluating health...
According to the Bureau of Labor Statistics, employers typically pay around 80% of traditional employer-sponsored healthcare plans on behalf of employees. With rising healthcare costs, your business is most likely struggling to solve this key problem: how to maintain financial stability while providing robust benefits to your employees. But what solutions can actually provide benefits...
The concept of work-life balance has become more than just a buzzword; it’s a necessity for employee satisfaction and retention. According to WorkLife.news, employers are increasingly recognizing the importance of providing ample time off to their employees with more than 80% of U.S. employers planning to change their leave policies over the next two years....
Did you know employers can enhance their benefits offerings by incorporating voluntary benefits? What exactly are voluntary benefits and how can employers design an effective plan? We sat down with Hugh McDaniel, manager of channel partnerships at WEX, to get his insights on crafting voluntary benefits plans that meet the diverse needs of employees. ...
Does your health savings account (HSA) have enough funds to carry you through the second half of the year? If it does, is there more you could be doing to grow those funds? We’ve broken down how to know if you’re contributing enough to your HSA to cover costs for the entire year and whether...
The concept of work-life balance has become more than just a buzzword; it’s a necessity for employee satisfaction and retention. According to WorkLife.news, employers are increasingly recognizing the importance of providing ample time off to their employees with more than 80% of U.S. employers planning to change their leave policies over the next two years. According to a recent study, 75% of employees who are dissatisfied with their current level of flexibility say they plan to seek a new job in the next year. This shift in mindset has led to a surge in various types of increased paid leave, reflecting a growing awareness of the diverse needs of today’s workforce. Let’s take a look at some of the recent trends regarding paid leave.
Parental Leave
More companies are acknowledging the significance of supporting new parents by offering generous parental leave policies. Beyond just maternity leave for mothers, there’s a rising emphasis on paternity leave to encourage fathers to be more involved in childcare. Additionally, some companies are expanding parental leave to include adoption and foster care.
Sabbatical Leave
Another trend gaining traction is sabbatical leave. Recognizing the value of periodic breaks in promoting creativity, innovation and overall well-being, companies are introducing sabbatical programs that allow employees to take extended time off to pursue personal projects, travel or simply recharge. Sabbaticals provide employees with the opportunity to return to work with renewed energy and fresh perspectives, ultimately benefiting both the individual and the organization.
Caregiving Leave
Whether caring for aging parents, a spouse or a disabled family member, employees often face significant challenges balancing work and caregiving duties. To support employees in these situations, companies are introducing caregiving leave policies that allow for flexible time off to attend to caregiving responsibilities without sacrificing job security or financial stability.
Bereavement Leave
Dealing with the loss of a loved one is a deeply personal and challenging experience. Employers are recognizing this more than ever. The percentage of U.S. employers offering paid bereavement leave has increased over the years, with roughly 91 percent of employers offering the benefit in 2023, which is up 10 percent from 2016. By offering adequate bereavement leave, employers can show their employees they care about their wellbeing and help foster a caring workplace.
The information in this blog post is for educational purposes only. It is not investment, legal or tax advice. For legal or tax advice, you should consult your own counsel. To stay up to date on benefits trends and insights, subscribe to our blog.
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