The benefits world can be a confusing place. The best way to plot a successful benefits route is to understand the benefits terminology being used.
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.
Open Enrollment is that once-per-year opportunity for your employees to tweak benefits plans for the upcoming benefit year. But first, you will have negotiated plan renewals and laid out an open enrollment communication plan.