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:
What This Means for Counties
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.
Many of our counties and county employees have reported receiving fraudulent unemployment claim forms. The Colorado Department of Labor and Employment (CDLE) has seen a spike in fraudulent claims since Christmas when the federal Pandemic Unemployment Assistance (PUA) program ended on December 26th. Recent legislation has since extended these benefits by 11 weeks. Fraudsters who […]
The Colorado Equal Pay for Equal Work Act went into effect on January 1, 2021. Enacted in 2019, the Equal Pay Act contains several parts and is designed to protect against wage discrimination based on sex, prohibits employers from asking job applicants about their salary history, and requires employers to disclose compensation and promotion information. […]
In November 2016, Colorado citizens voted for Amendment 70, which raises the state minimum wage. The minimum wage is the lowest wage that can be paid to most workers under the law. Since July 24, 2009, the federal minimum wage for covered nonexempt employees is $7.25 per hour. The federal minimum wage provisions are contained […]
As winter approaches and temperatures drop, it is an excellent time to look at county buildings for areas that could be damaged by freezing temperatures and snowy weather such as roofs, gutters, and pipes. Ice Dams Ice dams occur when water freezes near the edge of a roof or around drains and prevents melting snow […]