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Health Savings Accounts |  HAS, HRA, FSAs, MSAs
Health Savings Accounts | HAS, HRA, FSAs, MSAs
  • Insurance
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Value added medical savings plans: FSAs and MSAs

The value added benefits of healthcare Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs) and Health Reimbursement Arrangements (HRAs) are simple ways that employers offer a more robust benefit offering to employees, without overloading their compensation expense. These benefits give employees the opportunity to pay out of pocket expenses on a pre-tax basis.

 

FSAs are qualified benefits plans that are subject to IRC Section 125 and ERISA.

 

MSAs, or Medical Savings Accounts, are a tax deferred trust where money is set aside for future medical costs.  Either employer or employee can make contributions throughout the year, or at once, in a lump sum.  MSAs must be paired with a health plan, and have a higher deductible than FSAs.

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News

Friday, June 14, 2019

Fraud du jour: Social Security phone scams

Despite the National Do Not Call registry and features such as caller ID, phone fraud is thriving in the mobile phone era. Using spoofed numbers — which appear to be connected to legitimate government offices and businesses or that resemble your own number — fraud perpetrators say anything and everything to try to steal your money.

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Thursday, June 13, 2019

Could you unearth hidden profits in your company?

Can your business become more profitable without venturing out of its comfort zone? Of course! However, adding new products or services may not be the best way for your business — or any company — to boost profits. Bottom-line potential may lie undiscovered in your existing operations. How can you find these “hidden” profits? Dig into every facet of your organization.

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Thursday, June 13, 2019

You have options when addressing life insurance in your estate plan

Life insurance has long provided a source of liquidity to pay estate taxes and other expenses. But, with the estate tax exemption currently set at an inflation-adjusted $10 million ($11.40 million for 2019), estate taxes are no longer a concern for many families. Nonetheless, life insurance offers many benefits for nontaxable estates.

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