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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 ...
COBRA does not, unlike other federal statutes such as the Family and Medical Leave Act (FMLA), require the employer to pay for the cost of providing continuation coverage. Instead it allows employees and their dependents to maintain coverage at their own expense by paying the full cost of the premium the employer and the employee previously ...
A flexible spending account provides tax advantages and cash for medical expenses not covered by insurance. Here's what to consider to decide if it's right for you.
The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) enables certain individuals with employer-sponsored coverage to extend their coverage if certain "qualifying events" would otherwise cause them to lose it. Employers may require COBRA-qualified individuals to pay the full cost of coverage, and coverage cannot be extended ...
Discover the key differences between a health savings account (HSA) and a flexible spending account (FSA) to find the best way to save on healthcare expenses.
When you review your employee benefits as you start a new job, or during open enrollment each year, it's all kind of an alphabet soup -- 401(k), HSA, PTO, WFH, FSA. And it's worth taking your time ...
Health Reimbursement Arrangements are funded solely by the employer; they cannot be funded through employee salary deductions. The employer sets the parameters for the Health Reimbursement Accounts, and unused dollars remain with the employer: they do not follow the employee to new employment.
While choosing your level of health care and setting up your benefits, you may notice that your employer offers enrollment in an FSA or HSA. Colleen McCreary, chief people officer and financial ...