Flexible Spending Accounts Online

Flexible Spending Arrangement (FSA) Defined

Admin — Thu, 22 Nov 2007 10:49:59 +0000

A flexible spending arrangement (FSA), or Flexible Spending Account, as they are commonly called, is one of a number of tax-advantaged financial accounts that can be set up through a cafeteria plan of an employer in the United States. An FSA allows an employee to set aside a portion of his or her earnings to pay for qualified expenses as established in the cafeteria plan, most commonly for medical expenses but often for dependent care or other expenses. Money deducted from an employee’s pay into an FSA is not subject to payroll taxes, resulting in a substantial payroll tax savings. (more…)

Health Spending Accounts - A Comparison

Admin — Thu, 15 Nov 2007 10:36:25 +0000

Several options exist for employers to provide accounts that employees can use to pay for health care expenses not otherwise covered by a health plan; the options vary as to tax treatment, who can contribute, and what expenses can be covered.

There are three types of accounts that can be used to help fund employee health care expenses: flexible spending accounts, medical savings accounts, and health reimbursement arrangements. A description of each type of account follows. (more…)

Where Should I Put My Savings? Different Types of Investment Accounts

Admin — Mon, 12 Nov 2007 19:14:06 +0000

In the big world of investing, it seems we hear a lot about what securities to invest in, but not as much about what types of accounts to invest in. There are so many different types of investment accounts, each covering a different purpose, and new types of accounts seem to be created weekly. What are some of the basic types of investment accounts and what can they do for you? This article covers some of the accounts that are available currently and why you would use each one.

Retirement Accounts

IRA stands for Individual Retirement Account. An IRA is meant for those who do not have access to employer sponsored retirement plans such as 401(k) plans or those who would like to contribute more than the maximum allowed by their employer plans. Why choose an IRA? Read the rest of this entry »

Provide Affordable Health Care To Employees At Little To No Cost To You

Admin — Sun, 11 Nov 2007 19:03:30 +0000

You can provide affordable health care plans to your employees. If you feel overwhelmed by health care plan costs, you may be able to achieve far more than you believe. Here is how.

Real Needs, Real Solutions

Today, millions of EMPLOYED Americans depend on government aid, charitable organizations, and their own incomes to pay medical expenses. Until an extended illness or hospitalization occurs, these resources usually suffice. Read the rest of this entry »

Health Savings Account - HSA: The Basics

Admin — Sat, 10 Nov 2007 18:49:50 +0000

In this era of very complex (and very expensive) health care plans, a new one has emerged to help Americans get better care at a better value. This new type of plan is the Health Savings Account, otherwise known as an HSA.

So what exactly are HSAs?

Established by the Medicare reform bill and signed into law in December 2003, HSAs enable Americans to pay for near-term medical expenses while saving for future long-term costs with tax-free dollars. These accounts come with an HSA-qualified insurance policy that covers major medical expenses and preventive care. Where they differ from traditional health insurance policies is that these HSA-qualified insurance plans have lower premiums, higher deductibles, and the savings from the lower premiums goes to funding the HSA. Read the rest of this entry »