Benefits & Insurance: HR Glossary Terms
Plain-language explanations of Benefits & Insurance terms for employers. Employer-sponsored benefits, tax-advantaged health accounts and how they affect pay.
2 terms explained
Flexible Spending Account (FSA)
A health flexible spending account (FSA) is an employer-established benefit that lets employees set aside part of their salary, before federal income and employment taxes, to pay for qualified medical expenses.
Read definitionHealth Savings Account (HSA)
A Health Savings Account (HSA) is a tax-advantaged account, owned by the individual, that people covered by a qualifying high deductible health plan can use to pay for qualified medical expenses, and that employers may also contribute to.
Read definitionOther glossary categories
Employment Law & Compliance
Federal employment laws, worker classifications and the obligations they create for employers.
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Payroll & Compensation Basics
How pay is calculated, from gross income and overtime to the amount employees take home.
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Payroll Tax & Withholding
The taxes employers withhold from wages and pay on top of them, and how the rates work.
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Leave & Time Off
Paid and unpaid time away from work and what the law does and does not require.
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Worker Classification & Business Structure
How workers are classified, and what that means for pay, taxes and reporting.
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Tax Forms & Government Filings
The federal tax forms and filings employers use to report pay and worker information.
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