It's crazy to think that we are already approaching the end of 2021! The start of a new year means Open Enrollment time for many companies. This is the time to not only enroll in health insurance benefits but also to make changes and set elections for FSAs and HSAs.

Make sure your employees are educated on their open enrollment options. 76% of consumers say they are focused on getting the best value for their healthcare dollars, but they need more support. Build a communication plan to make sure the information is clear and concise, use real-world...

We’ve been anxiously waiting for the IRS to release the FSA Limit for 2022, and last week, on November 10, the IRS finally released inflation adjustments for over 60 tax provisions. We’ve recapped a few of the changes here for you, along with some limits that will remain the same for 2022.

Here’s what’s changing in 2022:

 

2021

2022

FSA Limit

$2,750

$2,850*

Transit and Parking Limit<...

We've all heard of the 50/20/30 rule, and we've all been overwhelmed staring at excel, trying to input every expense, and hoping to come out in the positive.

Budgeting is a very frustrating but necessary evil. It is tricky because it's challenging to establish a hard-set rule on how much you should spend because, honestly, we all have different priorities. Just because one person can keep their spending low on food because they live off ramen and fast food does not mean another person can do the same. And there are so many other...

A Dependent Care Assistance Program is a tax-exempt benefit provided by employers to employees to help pay for the care of a dependent. It is a type of Flexible Spending Account (FSA) where you set aside tax-free dollars from your paycheck to use as payment for eligible daycare services. After paying for care and filing a claim, employees are reimbursed for the expenses incurred from the DCAP account.

Unlike FSAs, DCAP funds are available only as they are accrued, per payroll deduction. Funds do not roll over, so any remaining funds in the DCAP account are lost...