In the classic children’s fairy tale Goldilocks and the Three Bears, Goldlilocks wanders into the woods and has a set of adventures while sorting through a variety of options to find one that is “just right”. In this day and age, one could make the case that employees in the middle of Open Enrollment wander into… Read More
BRiBlog
Sharing Information & Opinions on Tax-Free Health & Commuter Benefits
2020 Pre-Tax Limits Announced
The IRS released the 2020 pre-tax limits for Mass Transit, Parking, Medical FSA and Adoption Assistance in Revenue Procedure 2019-44. The limits are effective for plan years that begin on/or after January 1, 2020. 2020 Mass Transit and Parking Limits Maximum Election: $270 / month (up from $265 / month in 2019) 2020 Medical FSA… Read More
One dozen ways to save $100 before Open Enrollment
I’m here to tell you a secret: Even if you make under $30,000 a year, you can still have money for your company’s health insurance plan and for a plan that can save you on taxes. (Like a Health Savings Account or a Flexible Spending Account). Don’t believe us that you have $100 lying around… Read More
3 Ways to Survive Your Company’s Benefits Enrollment
I just got my first email from our company about our upcoming Open Enrollment sessions, and I have to tell you, I wasn’t as excited as I thought I’d be. It was a little disappointing. But it made me think: What are the things I want to hear before Open Enrollment? In a perfect world, probably… Read More
4 Strategies to Strengthen Your Benefits Programs
The unemployment rate declined to 3.5 percent in September. This is the lowest rate reported since December 1969. We should all be jumping for joy. This is a great thing. However, human resource professionals are feeling the pressure. With low unemployment comes a highly competitive job market where every bell and whistle can be the determining… Read More
Credit Card Security: 5 Quick Tips
These five tips will help to keep your credit card information safe. Keep your account number private Avoid sharing your credit card account number details with untrusted parties Do not give your account number to unverified representatives over the phone Don’t share your account number on insecure websites (look for https – the “s” stands… Read More
Which solution(s) should I choose? Comparing FSAs, HSAs and HRAs
Remember the old saying “There’s an app for that?” In the case of pre-tax benefits, we like to say “There’s a plan for that”. Regardless of your benefits problem, by comparing Flexible Spending Accounts, Health Savings Accounts and Health Reimbursement Accounts, you can find the right plan to fit your needs. Congress has developed a variety… Read More
How to overcome obstacles to successful plan management
There are many components to successful plan management. We will focus on three areas that often present difficulties and how they can be overcome. Plan funding vs deductions Non-discrimination Timeline for employer funding When will you fund the plan vs. when will you take deductions from employees? This funding decision commonly arises in regards to… Read More
Say this, not that: Taboo words in your benefits communication
We wrote a piece on benefits communication a little while ago, focused on clearing up 9 confusing benefits terms. It was one of our most read blogs for a while. One reason it was one of the most read blogs is that it offered information on a hard to understand topic. Benefits are a hard to… Read More
What about adult dependent care expenses?
A Dependent Care account allows you to set aside $5,000 on a pre-tax basis to pay for eligible dependent care expenses for a qualified individual. The next two questions are: what expenses are eligible and who is a “qualified individual”? What expenses are eligible? There are many expenses that can be considered eligible. For adult… Read More
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