Flexible Spending Accounts (FSA)

Many employees are looking for ways to maximize the dollars they spend on healthcare. Flexible Spending Accounts (FSA) are tax-advantaged accounts that employers can sponsor which allow employees to set aside tax-free money to spend on health costs throughout the year. While FSAs do present some risk, they can be a good way to round out a company’s employee benefit offerings.

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COBRA Continuation Coverage

Employees who lose coverage through an employer health may seek to utilize COBRA to extend that coverage. The Consolidated Omnibus Budget Reconciliation Act (COBRA), passed in 1986, is a law with health plan provisions that allows employees to continue health benefits after they leave employment or lose eligibility under the health plan. Whether or not COBRA applies to you and your employees depends on the size of your company. When COBRA does apply, it is important to be in tune with the details regarding eligibility, notice requirements, coverage duration, etc.

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