PES May Updates:
Please note that our office will be closed on Monday, May 30th. We will resume normal business hours on Tuesday, May 31st.
IRS Announces Spike in 2023 Limits for HSAs and High-Deductible Health Plans
Health savings account (HSA) contribution limits for 2023 are going up significantly in response to the recent inflation surge, the IRS announced April 29, giving employers that sponsor high-deductible health plans (HDHPs) plenty of time to prepare for open enrollment season later this year.
The annual inflation-adjusted limit on HSA contributions for self-only coverage will be $3,850, up from $3,650 in 2022. The HSA contribution limit for family coverage will be $7,750, up from $7,300. The adjustments represent approximately a 5.5 percent increase over 2022 contribution limits, whereas these limits rose by about 1.4 percent between 2021 and 2022.
Pay, health benefits beat flexible work in winning new hires
Attracting and retaining employees are key issues for many CFOs who are facing the tightest labor market in decades while also fighting rising costs on other fronts as inflation has soared to a four-decade high. Many finance chiefs are aiming to hold on to employees this year by giving them raises above 3% but that may not be enough as inflation outpaces pay gains, experts say.
5 steps to create a more accessible workplace
The shift to remote work has resulted in improved health and productivity for workers with disabilities — many of whom previously struggled with long commutes and inaccessible office layouts.
But despite these improvements, the needs of workers with disabilities are often overlooked in the workplace. So, as companies work to ramp up their diversity, equity and inclusion efforts, accessibility needs to become a much larger focus.
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