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A Penny For Your Thoughts

A Penny For Your Thoughts

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...

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Everything You Need to Know About DCAP

Everything You Need to Know About DCAP

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...

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Our CDHP Solutions

Our CDHP Solutions

We are quickly approaching August, and it’s never too early to start planning for your Open Enrollment!

Open Enrollment is the time of year you can make changes or purchase additions to your health insurance plan, and we’re here to make it a hassle-free process by offering a wide range of solutions and customized training for your team. We’ve listed some of the consumer-driven health plans we offer below.

FSA A Flexible Spending Account is an employer-funded account that lets you set aside pre-tax dollars to use...

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HSA & DCAP Changes for 2022

HSA & DCAP Changes for 2022

Can you believe we’re almost halfway through the year? 2022 is right around the corner and before you know it Open Enrollment season will be here! To help us get prepared, we are taking time this week to discuss the recent IRS update for Health Savings Accounts and Dependent Care Assistance Programs.

2022 HSA Limits

Last week the IRS issued Revenue Procedure 2021-25, providing the HSA cost-of-living contribution and coverage adjustments for 2022. It also includes the 2022 limit for Excepted Benefit HRAs. We broke it down in layman’s terms for you below, showing the changes from 2021...

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