Flexible Spending Accounts (FSAs), Health Reimbursement Accounts (HRAs), and Health Savings Accounts (HSAs) are tax-advantaged accounts used to pay for certain qualified medical expenses such as co-pays, prescriptions, dental, and vision costs.
Employers can offer any or all of these accounts as a benefit to offset healthcare costs. These accounts use pre-tax dollars and must adhere to certain rules and limits set by the IRS. The table below provides a general overview of how these accounts differ:
Each type of account offers benefits depending on your health insurance needs. Understanding the differences can help you determine which account or combination of accounts is the best fit for the situation. For more information, contact CTSI at (303) 861 0507.
A PDF of this Technical Update is available here.
Winter in Colorado often brings icy conditions, snow, and slick roads. While it is always best to stay home when road conditions are poor, winter driving is necessary for many Coloradans. Ensuring that your vehicle is properly prepared for winter before poor road conditions set in can help prevent accidents. AAA recommends that drivers have […]
Should a workplace accident occur involving employees, property damage, subcontractors, or the general public, the county should conduct an accident investigation to find the accident’s root cause and implement corrective measures to prevent future accidents. According to the CTSI Loss Prevention Manual : A good investigation identifies the root cause(s) and allows the supervisor to […]
Flexible Spending Accounts (FSAs), Health Reimbursement Accounts (HRAs), and Health Savings Accounts (HSAs) are tax-advantaged accounts used to pay for certain qualified medical expenses such as co-pays, prescriptions, dental, and vision costs. Employers can offer any or all of these accounts as a benefit to offset healthcare costs. These accounts use pre-tax dollars and must […]
A February 2020 Gartner survey on politics found that 78% of workers discuss politics at work. Thirty-one percent of employees surveyed said that these discussions were stressful and frustrating, while 36% reported avoiding talking to or working with specific co-workers because of their political views. Politics can be a divisive subject, and it is best avoided […]
