The IRS recently announced it increased the health savings account (HSA) contribution limit for 2025 to $4,300 for self-only coverage (up from $4,150 in 2024) and $8,550 for family plans (up from $8,300 in 2024).
The IRS will release the 2025 catch-up contribution for savers age 55 and older later this year, according to CNBC. It currently stands at $1,000 for 2024, unchanged from 2023.
To make HSA contributions, employees must have an eligible high-deductible health insurance plan. The IRS defines “high-deductible” as at least $1,650 for self-only plans or $3,300 for family coverage for 2025.
U.S. Economy Added 175,000 Jobs in April
U.S. job growth slowed considerably in April, with just 175,000 positions added, according to Bureau of Labor Statistics data released May 3.
CNN reported the slower-than-expected gains — April’s tally is the lowest since October 2023 — come as the Federal Reserve has sought to tame high inflation.
Nearly half (about 87,000) of April’s employment gains were in the health care and social assistance sector, which has been a key driver of job gains. The remaining job growth was fairly broad-based across other industries, with some of the bigger gains recorded in transportation and warehousing and in retail.
NLRB Judge Rules Amazon CEO’s Comments Violated Federal Law
A federal administrative law judge ruled on May 1 that Amazon CEO Andy Jassy violated labor law by making certain anti-union comments during media interviews two years ago.
According to the Associated Press, the ruling follows a complaint filed in 2022 by the National Labor Relations Board (NLRB) that accused Jassy of crossing the line during sit-down interviews when he reportedly said workers were better off without a union.
In the ruling, NLRB Judge Brian D. Gee pointed to statements Jassy made on CNBC’s television program “Squawk Box,” and during two summits organized by Bloomberg News and the New York Times.
Gee said predictions Jassy made about unionization changing the employee-employer relationship were lawful. But other statements about how employees would be less empowered under a union, “find it harder to get things done quickly and would be better off” without one ran afoul of federal labor law, the judge said.
Indeed to Lay Off 1,000 Employees
Career website Indeed is letting go of roughly 8% of its staff, approximately 1,000 people, according to a report from The Hill.
In a letter shared with Indeed employees on May 13, CEO Chris Hyams said the layoffs affect many groups and regions, but they are not across the board. The impacted jobs are mostly concentrated in the U.S. and more focused on “R&D and some Go-to-Market teams.”
Last year, Indeed laid off approximately 2,200 employees, almost 15% of its staff, citing a decrease of job openings following a post-COVID boom.
Editor’s Note: Additional Content
For more information and resources related to this article, see the pages below, which offer quick access to all WorldatWork content on these topics:
