When families have changes in their lives, it’s important to consider how these changes may impact your employer-sponsored benefits. Some of these life-changes may allow you to add benefits and some life-changes may allow you to cancel benefits.
Health care premiums continue to rise, and employers are looking for innovative ways to curb costs. Self-funding of health insurance is common among large companies – those with at least a couple hundred employees. Yet, few smaller companies have had the opportunity to self-fund health care for their employees.
Flexible Spending Accounts are an easy way to set aside money from your paycheck to help you pay for qualifying medical or dependent daycare expenses, while saving you money on payroll taxes. But Flexible Spending Accounts can seem scary if you don’t understand the rules.