Archive for the 'FSA' Category

Financial Well Being Index

Despite the optimism regarding the economy in 2011, employees are still feeling cautious about their money,

Financial Wellness

Employees Remain Cautious

according to the Q4:2010 Principal Financial Well-Being Index survey.  Here are some of the key takeaways:

  • Half of employees did not feel better about their financial situation than they did a year ago. Nearly 40% of employees were still cautious about the economy.
  • 72% of employees are concerned about their long-term financial future.
  • Health care costs (65%) and economic uncertainty (59%) topped their short-term concerns.
  • Living within their means (62%) and having an emergency fund (46%) were employees’ main priorities as they re-build their financial well-being.

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Published by Joe Larocque on December 5, 2010

Benefits Communication ROI: FSA Enrollment

Better education leads to higher FSA enrollment, which saves employers money on taxes.

Good benefits communication can raise employee Flexible Spending Account enrollment by 20% or more, a recent study found. The benefits of an FSA may be obvious to the seasoned HR Director, but not all employees – or employers – know how valuable these accounts can be.

Both employee and employer enjoy significant tax savings when FSAs are used. Employees save on federal and FICA taxes, plus any additional state and local taxes on medical items paid for through their FSA.

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Published by Sophie Asmar on November 23, 2010