If you get hit with spring fever, one of your stops should be cleaning out the medicine cabinet. You’ll want to tackle the project by throwing away expired medicines, evaluating if you need any new items, and replacing old supplies. Three Steps to Organization Tossing Expired Items According to this article from the CDC, you… Read More
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Sharing Information & Opinions on Tax-Free Health & Commuter Benefits
CBP 201 – Navigating Ridesharing and Commuter Benefits
In this post, we’ll explore the most common questions on ridesharing and commuter benefits. As you may be aware, uberPOOL and LyftLine offer eligible services under a Commuter Benefit Plan. However, there is a twist regarding what qualifies as an “eligible expense” under your Commuter Benefit Plan. Let’s start with what to do if you’re… Read More
The Future of HSAs — A wish list of changes.
It’s tax day, April 17, 2018! Rather than give you the “accounting recommendations” to (1) open a Health Savings Account (or HSA) and (2) contribute the HSA maximum, we want to discuss the future of HSAs. What will tax day look like for an HSA in 2019 or 2025? So here it goes… The Future… Read More
5 Pre-Tax Tools to Keep Your Stress Levels Low
Since April is Stress Awareness Month, we’ve highlighted five pre-tax benefit services and resources to keep your stress levels low and your health levels high. ID Theft Services When your card goes missing or your identity is compromised, your initial reaction might be panic. But you can keep your funds, ID and mental health safe… Read More
SpotHero Simplifies Pre-tax Parking
Benefit Resource has teamed up with SpotHero, the nation’s leading parking reservation service, to give you more convenience and flexibility in your commute. As a Commuter Benefits Plan participant, you can use your Beniversal® Prepaid Mastercard® or eTRAC® Prepaid Mastercard in the SpotHero app to find and reserve parking near your office – without breaking the bank. How… Read More
5 tips to help employees manage out-of-pocket expenses
If you’re an employer who is offering pre-tax benefits, you’ve already taken a huge step in the right direction to help employees manage out-of-pocket expenses. Back in September, we wrote a piece focused on using pre-tax benefits to help employees save on medical expenses. This piece focuses on more practical steps you can share with… Read More
3 Lessons I Wish I Knew About TPAs
Life is good. You have contracted with a third party administrator (or TPA) for your pre-tax benefit program. Time to move on to the next benefits crisis, right? But, then you start to realize not everything is as it seemed. Lesson 1: There are generally two kinds of TPAs. It is important to be aware… Read More
How do HRA Accounts Work? 5 Surprising Facts
Do you have a Health Reimbursement Account? (Also referred to as a Health Reimbursement Arrangement or HRA). As out-of-pocket expenses rise for employees, an HRA provides a great opportunity for employers to cushion the increase. According to the 2017 Employer Health Benefits Survey released by Kaiser Family Foundation, over 81% of covered workers now have… Read More
Best practices to avoid receipt requests
Recently, we published a post that addressed two common questions: What is substantiation? Why is it required? In sum, we learned it’s less what you buy and more where you buy that prompts substantiation requests. For part two on this topic, we’ll be reviewing best practices to avoid receipt requests. Three Easy Steps There are… Read More
What is substantiation and why is it required?
You went to the local pharmacy, picked up your medicine, and then received a request for substantiation. If you’ve ever wondered “What is substantiation and why is it required?” you’re not alone. Let’s start with the basics. What is substantiation? Within the tax code, there is a rule that states every expense or transaction from… Read More
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