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Unlike a flexible spending account (FSA), ... As of 2007, employers may contribute more for non-highly compensated employees than highly compensated employees.
The most common type of flexible spending account, the medical expense FSA (also medical FSA or health FSA), is similar to a health savings account (HSA) or a health reimbursement account (HRA). However, while HSAs and HRAs are almost exclusively used as components of a consumer-driven health care plan, medical FSAs are commonly offered with ...
Half of this is paid by the employer. The employee's share of FICA is 7.65% of total income. Combined, the employee share of FICA taxes of 7.65% and the average income tax rate of 13.6% come to 21 ...
"Highly compensated" participants may be subject to "certain limitations." A sole proprietor can employ a spouse who actually helps the business. The employer would need to establish a W-2 to make the spouse's employment legitimate. The health care can be run through the business and save the family, on average, $3,000 each year.
Believe it or not, you can use FSA funds for condoms and morning-after pills like Plan B and Julie. One brand of vibrators and sex toys, MysteryVibe, became the first to accept FSA debit cards in ...
If highly compensated employees are socking away too much or the company is contributing more to their 401(k) plan, relative to lower-income employees, then the company must adjust how it ...
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