Category: Employee Benefits
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8 Ways a Profit Sharing Plan Differs from 401(k)
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What is a Profit Sharing Plan and How Does It Compare to a 401(k)? Profit sharing plans and 401(k) plans are both types of defined contribution retirement plans that help employees build long-term savings. However, they differ in structure, funding source, and participation. This article will explore profit sharing plans in detail—what they are, how…
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The Complete Guide to Health Savings Accounts (HSAs) for 2025
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Best Guide for HSA Accounts in 2025 A Health Savings Account (HSA) is one of the most tax-advantaged and flexible financial tools available. Whether used for short-term medical expenses or long-term wealth building, HSAs offer unique benefits that make them a strategic part of any client’s financial plan. In this guide, we’ll explore how clients…
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4 Ways Level Funded Health Plans Help Manage Costs for Employers
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Why Level Funding? How Does It Work? Level funded plans are designed to offer employer predictability with the potential for upfront savings and a surplus refund. What’s driving the increased adoption of these plans? As health care costs continue to rise and broader economic uncertainty persists, employers are seeking more cost-effective plan designs. Enter level…
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What is ICHRA: The Basics
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Super Simple ICHRA Explained What does ICHRA stand for? ICHRA stands for Individual Coverage Health Reimbursement Arrangement. It’s also commonly referred to as an ICHRA plan. What is an ICHRA? An ICHRA is a type of account-based healthcare plan that allows employers to reimburse employees for individual health insurance premiums and qualified medical expenses tax-free. …
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CMS Compliance for Small Businesses using ICHRA
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ICHRA: So, what’s the big deal with affordability? When designing your ICHRA, it’s important to understand if your reimbursement amount is considered “affordable” or “unaffordable” to your employees. Here’s why: What does “affordability” mean? Why is it important? Smaller employers are not subject to this requirement, but will want to understand how affordability impacts employee…
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Does an ICHRA comply with ERISA?
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ICHRA Rules ICHRA gives employers an incredible ability to design and customize a plan that’s tailor-made for their organization. We’ll cover some of the key ICHRA rules and ICHRA requirements in this section and dive-deeper on key topics (like ICHRA employee classes and ICHRA affordability) in later sections. A key principal to keep in mind…
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