We are all faced with choices every day which can lead you to save time or money. You might plan for retirement by contributing to a 401k plan. Use paid time (and personal savings) for a relaxing vacation. Take out a life insurance policy for added peace of mind. The importance of employee benefits should […]
In the dynamic landscape of the modern workforce, employers and HR professionals are faced with the challenge of not only attracting top talent but also ensuring the well-being of their existing employees. One often-overlooked aspect that plays a pivotal role in employee satisfaction, particularly during times of inflation, is the impact of rising costs on […]
If you’re wondering what the difference is between a Medical Flexible Spending Account (Medical FSA) and a Dependent Care Flexible Spending Account (DC FSA), you are not alone. Maybe you didn’t realize there is more than one type of FSA to choose from. Participants often do not understand that separate elections must be made for […]
As the winter months roll in, many employees can experience a dip in their morale due to factors like cold weather, shorter daylight hours, and holiday stress. As employers and HR professionals, it’s essential to take proactive measures to boost employee morale during this time. A well-rounded approach to health and wellness initiatives can make […]
“I will stay healthy during the holidays.” This simple phrase can feel like a personal mission for many of us. Your pre-tax benefits might provide a little help along the way. Allow us to explain. While cough medicine, vitamins and other over-the-counter medicines require a prescription to be eligible from a pre-tax account, your pre-tax […]
As Halloween approaches, it’s time to dust off your spookiest decorations, plan your terrifyingly good costumes, and, of course, think about your finances. Wait, what? That’s right! This Halloween season, we’re here to help you unravel the mysteries of Flexible Spending Accounts (FSA) and show you how to make the most of your FSA funds […]
Imputed income is a little bit of a mystery. It’s not overly common. However, when you encounter it, you can be left with an uneasy feeling. Let’s start by covering what it is. Then we’ll go over why it happens and how to prevent it. What is imputed income? The technical definition is: when the […]
There are many common misconceptions regarding election changes when it comes to pre-tax benefit accounts. In fact, just more than 1 in 3 people understand when an election change can occur for a health savings account. (HINT: It is more often than you might realize.) This is understandable given that flexible spending accounts have been available […]
We wrote a piece on benefits communication a while ago, focused on clearing up 9 confusing benefits terms. Benefits are a tricky topic. That includes pre-tax benefits. This makes proper benefits communication crucial. So, knowing that benefits communication is complicated (even if it’s not intentional), this blog will equip you to reframe confusing Open Enrollment […]
As the business landscape evolves, companies often face the challenge of managing costs while maintaining a productive and satisfied workforce. According to Care for Business research, over 40% of HR leaders plan to recalibrate or trim their benefits offerings in the coming year. While the immediate cost-saving benefits may seem tempting, slashing employee benefits can […]
As back-to-school approaches, parents and students alike are gearing up for a flurry of shopping to ensure they have all the essentials for a successful academic year. Amidst the excitement, many may not know that their Flexible Spending Account (FSA) can be a valuable resource for purchasing back-to-school items. By understanding FSA eligibility and making […]
National Parents Day is here, and it’s time to celebrate the sacrifices and dedication that parents make! Thankfully, many companies offer a Dependent Care Flexible Spending Account (DC FSA) to make life a little easier for parents. As an employee and a parent, you can utilize your dependent care FSA to make the most out […]
One of the most important decisions you can make as an employer is offering competitive benefits packages that entice and retain top talent. Healthcare has always been a core concern for employees, and recent trends show that employees are willing to leave jobs that don’t offer the best healthcare coverage. In today’s world, employer-provided healthcare […]
We have good news- your Beniversal® Prepaid Mastercard® can stretch a lot farther than you might think. While the term “benefits card*” may conjure up images of deductibles and doctor’s visits, you can also use your card while traveling. (For business or pleasure.) In preparation for your next road trip, let’s explore how your Beniversal […]
Summer is here – it’s time to get outside and enjoy the sunshine! While we all love the warm weather and longer days, summer can also be expensive. Luckily, if you have a Flexible Spending Account (FSA), you can use it to save money on some summer essentials! FSAs allow you to set aside pre-tax […]
Taking care of our health is a top priority, but it can also be expensive. Luckily, pre-tax savings benefits like FSAs and HSAs can help alleviate some of that financial burden. However, many employees may not realize the extent of which expenses are actually eligible. By taking advantage of eligible expenses, employees can stretch their […]
As a leading pre-tax benefits provider, Benefit Resource (BRI) has actively participated in various events to showcase our innovative solutions and expand our network. We recently attended several industry gatherings and plan to attend more in the near future. This blog post will update you on what tradeshows we’ve been to and what shows we plan to attend. For those always on the lookout for the latest employee benefits, this post is for you!
Spring has always been associated with deep cleaning, decluttering, and rejuvenation. While dusting, vacuuming, and packing away winter clothes may be on the top of your spring cleaning list, have you considered reviewing your eligible expenses and utilizing your Flexible Spending Account (FSA)? While doing your spring cleaning, don’t forget to look at your FSA. […]
The cost of healthcare can be daunting, especially for those who do not have adequate savings to cover medical expenses. Fortunately, there are ways to increase your financial well-being through medical savings. One such way is by utilizing health savings accounts (HSAs) and/or flexible spending accounts (FSAs).
The COVID-19 pandemic has forced many changes in the way we live and work. Recently, the H.J. Res 7 was passed, which ends the current public health emergency related to COVID-19. As an employer, it is important to understand what this means for your organization, particularly regarding consumer-direct benefits and COBRA. BRI is offering a […]
The COVID-19 pandemic has wreaked havoc globally, challenging leaders and healthcare professionals at every turn. Recently, on April 10th, the H.J. Res 7 bill was signed into law, calling for the end of the national emergency declaration for COVID-19, which was put in place to mitigate the pandemic’s effects. This triggers the process and timeline […]
We previously published a post that addressed two common questions: What is substantiation? Why is it required? In that post, we learned it’s less what you buy, and more where you buy that prompts substantiation requests. We’ll review best practices for part two on this topic to avoid receipt requests. Three Easy Steps There are […]
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.
National Employee Benefits Day is celebrated on April 6th. This day is dedicated to recognizing employers’ hard work and dedication that provide valuable benefits to their employees. This year, we celebrate this event amid uncertain times, where the need for good employee benefits has become more critical than ever before. In honor of National Employee […]