FSA: Flexible Spending Account. Like an HSA and HRA, an FSA allows you to pay for many medical expenses with pre-tax dollars. Expenses such as co-pays and co-insurance are eligible. The IRS website lists all eligible medical expenses for each type of account. An FSA is owned by the employer, but funded by the employee. […]
The Medicare Special Enrollment Period (SEP) is for those that maintained group coverage (20+ employees) at age 65 and up and did not enroll in Part B at age 65. If you are a sole proprietor you must enroll in Medicare A and B at 65 during the Initial Enrollment Period (IEP.) Enroll in Medicare […]
There are two ways an employee may typically pay out of pocket medical expenses with pretax dollars, either through the use of a Flexible Spending Accounts (FSA) or a Health Reimbursement Arrangements (HRA.) There are certain deadlines and requirements with these types of arrangements. FSA’s and HRA’s are not to be confused with Health Savings […]
