Tips to Maximize Your HSA Benefits | Minnesota Employee Benefits Agency

Health Savings Accounts (HSA) are great ways to save tax-free money for medical expenses both in the current term, and for your retirement years. By making wise choices, you can maximize the benefit of these fantastic savings accounts. Let’s take a quick look at the basics and then explore some tips on how to make … Continued

REMINDER: HEALTH PLAN PCORI FEES ARE DUE JULY 31 | Minnesota Benefits Team

Employers that self-insured any group health plans in 2018, including health reimbursement arrangements (HRAs), are responsible for determining whether the annual PCORI fee applies to their plan. If so, use Form 720 to calculate, report, and pay the fee by July 31, 2019. PCORI stands for the Patient-Centered Outcomes Research Institute. Federal law imposes a small annual fee on most … Continued

Cafeteria Plans 101

Let’s start with the basics. A cafeteria plan is an employer-provided written plan that offers employees the opportunity to choose between at least one permitted taxable benefit and at least one qualified employee benefit. Employees of employers with cafeteria plans may obtain such benefits as health insurance, group-term life insurance, voluntary “supplemental” insurance (dental, vision, … Continued