We’ve compiled the best advice from 2017 and broken it down by category so you can be prepared for 2018. Review what you need to know about COBRA, Commuter Benefit Plans, Flexible Spending Accounts, Health Savings Accounts, and pre-tax accounts. Are you ready for 2018?
Provides a basic overview of why COBRA coverage might have ended early and next steps you can take to handle the situation.
Commuter Benefit Plans
Reviews the benefits (pardon the pun) of electing commuter benefits, from the tax savings to the financial flexibility. You can also do a test run with our calculator to see how much you would save with a commuter benefit plan.
Gives you five quick and simple ways to make your commute more productive (and hopefully more enjoyable), whether you’re going into the office or heading home.
Flexible Spending Account
Goes over the 4 Ws and H (Who, Where, What, When and How Much) you need to have before submitting receipts and explains where to find the information.
Lists purchase ideas for your FSA if you have money left over at the end of the year. To be ready for 2018, commit to monitoring your FSA funds in order to use them (and not lose them.)
Distills the basic rules surrounding FSA and HSA election changes, providing various scenarios and how each one impacts an FSA election versus an HSA election.
Health Savings Account
Explains what happens to HSA funds at the end of year (spoiler- nothing; they roll over into the next year) and how to maximize contributions to your HSA.
Clears up details around HSA details including coverage, fund roll over and changing contribution amounts that can be a little fuzzy. Bonus feature: downloadable infograph.
Breaks down how to manage your healthcare bills (and stress levels) with tips like learning how to decipher medical bills, becoming familiar with procedure costs in your area and asking for a discount.
Offers four steps to help you ask the right questions and identify the right healthcare options based on your personal needs. Step one? Understanding what is important to you and using that as a guide to create a personal health plan.
Remember to check the new 2018 pre-tax limits for Health Savings Accounts (more information here), as well as the 2018 limits for mass transit and parking, Medical FSAs and Adoption Assistance (details here.)
The most read blog of 2017 was Top Ten Weirdest Eligible Expenses. Items on the list included acupuncture, dog food and motion sickness wristbands. If you think you know what’s eligible, think again…
It’s been a pleasure providing blogs to you in 2017 and we look forward to making sure you’re ready for 2018. Check back in January for more information and insights. Happy New Year!