What These 10 Common Pre-tax Terms Really Mean

confusing pre-tax terms

Navigating the world of pre-tax benefits can sometimes feel like deciphering a complex code. With terms like “substantiation” and “HRA” it’s no wonder many find themselves scratching their heads in confusion. Yet, understanding these terms is key to unlocking the full potential of pre-tax benefits. Whether you’re a seasoned benefits administrator or new to the […]

Five Basic Questions to Ensure Your Receipt Is Accepted

Ensure Your Receipt Is Accepted

Congratulations on enrolling in a Flexible Spending Account (FSA)! The key to a smooth reimbursement process lies in understanding the crucial elements of proper expense documentation and ensuring your receipt answers 5 fundamental questions. Let’s explore these questions and discover where to find the necessary information. The Handling of Unresolved Expenses A month into your […]

How to Be Smart About FSA Spending

Smart Spending

Flexible Spending Accounts (FSAs) offer employees a valuable opportunity to save money on eligible medical and dependent care expenses. However, navigating the ins and outs of FSA spending can be a bit tricky. In this blog, we’ll explore some smart strategies to help employees make the most of their FSA funds and maximize their savings. […]

Maximizing Health Savings and Financial Flexibility through a Well-Designed Benefits Package

Organizations are continuously looking for strategies to draw in and keep top talent in the highly competitive employment market of today. An excellent benefits package is one important component that is vital to this effort. Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are two of the most effective instruments for optimizing health savings […]

Unveiling the Power of Pre-Tax Benefits on Nurturing Employee Well-Being

Nurturing Employee Well-Being

Blue Monday, often dubbed as the gloomiest day of the year, casts a shadow over the workplace, affecting employee morale and mental health. As businesses navigate the challenges of a rapidly evolving professional landscape, prioritizing employee well-being has become more critical than ever. Understanding Blue Monday Blue Monday typically falls on the third Monday of […]

Top Ten Weirdest Eligible Expenses

weirdest eligible expenses

Acupuncture. Dog food. Motion sickness wristbands. What do these three items have in common? They’re all eligible medical expenses under your health accounts. We looked far and wide to identify the Top Ten Weirdest Eligible Expenses. And the results are… 1. Acupuncture First, treat yourself to an acupuncture appointment and let them stick it to […]

Tips and Resources for Every New Plan Participant

new plan participant

After much consideration, you’ve made the wise decision to enroll in a pre-tax benefit plan. As a new plan participant, you will experience significant savings on eligible items and services in the coming months! To help you make the most of your account(s), here are some helpful reminders, tips and valuable resources. How do I […]

FSA Eligible Purchases for the End of the Year

fsa_end_of_plan_year_purchase_advice_web

We’re coming up on the end of the plan year for many FSA participants. If you have unused FSA funds, it can be a somewhat stressful time with the “use it or lose it” concern looming ahead. But it doesn’t need to be. There are plenty of FSA eligible items you can stock up on […]

New to Benefits Education Series for HR Professionals and Advisors

New to Benefits

In the ever-evolving realm of employee benefits, staying ahead of the curve is essential for HR professionals and benefits advisors. Understanding the intricacies of pre-tax benefit plans and COBRA regulations is crucial, but for those new to the field, it can be a challenging endeavor. Recognizing this need, Benefit Resource (BRI) has introduced a groundbreaking […]

4 Life Hacks to Extend the Value of Your Benefits

Life hacks

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 […]

Navigating Inflation and the Strategic Role of Employee Benefits

Navigating Inflation-2

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 […]

Compare: Medical FSA and Dependent Care FSA

Medical FSA and Dependent Care FSA

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 […]

Health and Wellness Initiatives to Boost Employee Morale in the Winter Months

Employee Morale

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 […]

Trying to stay healthy during the holidays?

stay healthy during the holidays

“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 and share the multiple ways your pre-tax funds may come in handy. This holiday season, here are four things to […]

Frightfully Fun Ways to Spend Down Your FSA Funds This Halloween Season

Spend Down Your FSA Funds

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: The real reason behind those pesky receipt requests

Imputed Income

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 […]

When can I make an election change to my FSA? To my HSA?

election change

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 […]

Say this, not that: Taboo words in your benefits communication

benefits communication

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 […]

The True Value of Employee Benefits

Value of Employee Benefits

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 […]

Utilizing Eligible Items for Back-to-School Shopping

Back To School

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 […]

Celebrate National Parents Day by Utilizing Your Dependent Care FSA

National Parents Day

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 […]

Download our Healthcare Savings Ebook

Healthcare Savings

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 […]

Can I use my Beniversal card on a road trip?

Beniversal Card

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 […]