News

The IRS recently updated its frequently asked questions (FAQs) about medical expenses related to nutrition, wellness and general health to specifically address when the cost of a wearable device is a medical expense that can be paid or reimbursed by a health flexible spending account (FSA), health reimbursement arrangement (HRA) or health savings account (HSA).…

As glucagon-like peptide-1 (GLP-1) drugs continue to gain popularity, employees may be wondering whether the medication is covered under their health plan when comparing options during open enrollment. This is likely one of the most common questions employees will ask this year. Coverage for these medications is not uniform. It can vary by the condition…

October is Cybersecurity Awareness Month, and the IRS is using the occasion to urge taxpayers to make online security part of their daily routine. In a recent press release, the agency said a few simple habits can go a long way toward keeping personal, financial and tax information out of the hands of identity thieves…

When you think about using your health savings account (HSA) or health flexible spending account (FSA), you may picture paying copays, filling prescriptions and reaching your annual deductible with these tax-advantaged accounts. But these accounts can stretch much further into everyday wellness spending than many employees realize, such as over-the-counter (OTC) allergy medicine, therapy sessions…

Open enrollment may be one of the most important financial and healthcare decisions you make all year. Yet many employees spend just 30 to 60 minutes choosing their benefits or allow their previous elections to continue automatically. That approach may be convenient, but it can also lead to costly oversights. According to the 2026 Selerix…

As applicable large employers (generally, those with 50 or more full-time equivalent employees) prepare for 2027 renewals, they may have more flexibility in their health plan contribution strategy than they've had in several years. For 2027, the Affordable Care Act (ACA) affordability percentage will increase to 10.22%, providing employers with additional room to adjust employee…

The middle of the year is an ideal time to evaluate benefits strategy and recalibrate plan design, vendor partnerships and cost-containment efforts to close out the year strong or prepare for the 2027 open enrollment season. As such, understanding the current state of the employee benefits market can help employers evaluate their offerings to best…

On July 21, 2026, the IRS released Revenue Procedure 2026-26 to index the contribution percentage in 2027 for determining the affordability of an employer's health plan under the Affordable Care Act (ACA). For plan years beginning in 2027, employer-sponsored coverage will be considered affordable under the ACA's "pay-or-play" rules if the employee's required contribution for…

A Trump Account is a tax-favored savings account for children under the age of 18. It works similarly to a retirement account but has special rules during what's called the "growth period," which lasts until the child reaches adulthood. During this time, contributions grow tax-deferred, and withdrawals are generally not permitted, except in a few…

Medicare Part D creditable coverage is an important concept for employees to understand, regardless of how far away retirement may seem. With more Americans working past age 65, navigating both employer-sponsored coverage and Medicare is becoming increasingly common. As such, being informed about this topic now can help avoid costly penalties when it's time to…