Employee Benefit Plans Archives | Hutchinson and Bloodgood LLP

The IRS recently announced 2026 amounts for Health Savings Accounts

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May 27, 2025

The IRS recently released the 2026 inflation-adjusted amounts for Health Savings Accounts (HSAs). Employees will be able to save a modest amount more in their HSAs next year. HSA basics An HSA is a trust created or organized exclusively for the purpose of paying the “qualified medical expenses” of an “account beneficiary.” An HSA can […]

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Employee Benefit Plans, Tax Planning

Healthy savings: How tax-smart HSAs can benefit your small business and employees

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December 2, 2024

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As a small business owner, managing health care costs for yourself and your employees can be challenging. One effective tool to consider adding is a Health Savings Account (HSA). HSAs offer a range of benefits that can help you save on health care expenses while providing valuable tax advantages. You may already have an HSA. […]

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Employee Benefit Plans

Understanding your obligations: Does your business need to report employee health coverage?

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September 30, 2024

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Employee health coverage is a significant part of many companies’ benefits packages. However, the administrative responsibilities that accompany offering health insurance can be complex. One crucial aspect is understanding the reporting requirements of federal agencies such as the IRS. Does your business have to comply, and if so, what must you do? Here are some […]

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