News & Events

HSAs Made Easy: Learn the Essentials & Protect Your Savings from Mistakes | Virginia Benefits Agents

Health savings accounts (HSAs) have become a vital part of many employers’ benefits packages, offering employees a powerful tool to manage healthcare expenses while benefiting from tax advantages. However, managing HSAs goes beyond just facilitating contributions. It also involves understanding and addressing mistakes with distributions that employees might encounter. This article delves into the basics … Continued

Empowering Gen X: Building a Competitive Benefits Package | Virginia Benefits Group

Today’s workforce is a mix of generations, and Gen X is a group you can’t afford to overlook. Known for their flexibility and problem-solving skills, Gen X employees bring a powerful combination of experience and value to any company. Gen X, those born between 1965 and 1980, makes up a significant chunk (27%) of today’s … Continued

PCORI Fee Filing Deadline | Virginia Benefits Advisors

The Patient-Centered Outcomes Research Trust Fund fee, often referred to as the PCORI fee, can be a source of confusion for employers offering health insurance plans. This article aims to simplify what the PCORI fee is, why it exists, and how it impacts your business. What is the PCORI Fee? The PCORI fee is an … Continued

Benefits Breakdown July 2024 | Virginia Employee Benefits Consultants

Report: Health Care Costs Are 254% Higher for Privately Insured Patients Than Those With Medicare A new RAND report revealed that in 2022, private insurers paid hospitals an average of 254% more than what Medicare would have paid for the same services, a jump from 224% in 2020. The study found that 2022 prices for … Continued

Benefits 101: What Is an HDHP? | Virginia Benefits Firm

In today’s world of complex health insurance options, High Deductible Health Plans (HDHPs) have become increasingly popular. But with a name like “high deductible,” it’s natural to have questions. Let’s break down the basics of HDHPs: What is an HDHP? An HDHP is a health insurance plan with a higher deductible than traditional plans. This … Continued

Empowering Baby Boomers: Building a Competitive Benefits Package | VA Employee Benefits Partners

A Baby Boomer is someone born between 1946 and 1964. This generation is currently between 58 and 78 years old (in 2024).  They tend to have a strong, loyal work ethic and excel at face-to-face communication and building relationships with colleagues.  Boomers have a wealth of experience accumulated over long careers. They value jobs that … Continued

Form 5500: What You Need To Know | Virginia Benefits Firm

Attention Employers: Don’t Miss Your Form 5500 Deadline! Here’s a simplified breakdown of what you need to know about filing your employee benefit plan report: Who Needs to File? Employers subject to ERISA (Employee Retirement Income Security Act) with employee benefit plans, unless exempt. What to File? Form 5500 (annual report) for each employee benefit … Continued

Investing in Health Prevention and Wellness: A Smart Bet | Virginia Benefits Team

The old adage “an ounce of prevention is worth a pound of cure” rings truer than ever in today’s world. While reactive healthcare plays a crucial role in treating illness, a growing emphasis is being placed on the power of health prevention and wellness. Investing in preventive measures and promoting overall well-being isn’t just about … Continued

Benefits Breakdown June 2024 | VA Employee Benefits Advisors

HSA/HDHP Limits Will Increase for 2025 The IRS released the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2025. The IRS is required to publish these limits by June 1 of each year. These limits vary based on whether an individual has self-only or family coverage under an HDHP. … Continued

Benefits 101: What Is Voluntary Life Insurance? | VA Employee Benefits Group

Life Insurance at Work: Your Guide to Voluntary Coverage We all juggle life’s different responsibilities, and ensuring our loved ones are financially secure in case of our passing should be a top priority. Life insurance offers a safety net but typically the amount of coverage included as a standard company-paid life insurance policy isn’t enough … Continued