On October 12, an executive order was signed that, among other things, seeks to expand Health Reimbursement Arrangements (HRAs). HRAs are just one type of tax-advantaged account you can provide your employees to help fund their health care expenses. Also available are Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs). Which one should you […]
Health Savings Accounts
Despite being less popular than investments such as 401(k) plans, individual retirement accounts, and 529 college savings plans, Health Savings Accounts provide tax benefits to its’ beneficiaries. The first advantage of an HSA is that contributions made are tax-deductible. Second, any interest or other earnings on the account are tax free. Lastly, owners of the […]
Affordable Care Act
The Affordable Care Act set requirements for employers to offer health insurance to full-time employees if the business had fifty or more full-time or full-time equivalent employees. These requirements were initially going to be put into effect in 2014; however, the government has recently decided to postpone the start of the requirement for one year […]