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New 2022 Benefit Limits Announced

New 2022 Benefit Limits Announced

We’ve been anxiously waiting for the IRS to release the FSA Limit for 2022, and last week, on November 10, the IRS finally released inflation adjustments for over 60 tax provisions. We’ve recapped a few of the changes here for you, along with some limits that will remain the same for 2022.

Here’s what’s changing in 2022:

 

2021

2022

FSA Limit

$2,750

$2,850*

Transit and Parking Limit<...

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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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