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Health Expenses a Major Source of Mental Health Issues for U.S. Workers

InterWest Insurance Services

Mental health is already on the radar of employers: Large businesses reported that addressing their workers’ mental and emotional health would be a top priority over the next three to five years, according to a 2021 study by Mercer Consulting. It found that only 10% of those surveyed had a health plan with a zero deductible.

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Top 10 Employee Benefits for 2021

Best Money Moves

Top 10 employee benefits for 2021. HR trends forecast the most desired employee benefits for 2021 like financial wellness programs and flexible work arrangements. It’s time for employers to start planning their employee benefits packages for 2021. Top 10 Employee Benefits for 2021. #1 1 Financial Wellness Programs.

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FSA eligible expenses — what purchases count?

Business Management Daily

Flexible Spending Accounts allow employees to set aside pre-tax dollars from their paycheck to use for medical or dependent care expenses. These funds are placed in an FSA account that employees can use to pay for eligible expenses. Here is what you need to know to figure out if an expense is FSA eligible.

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Employee benefits for small businesses

Higginbotham

workers who quit in 2021 said that low pay was a reason, and 43 percent said that a lack of good benefits was a reason. According to the 2021 Employer Health Benefits Survey from KFF, 56 percent of firms with three to 49 workers offer health benefits to at least some of their workers. The Benefits of Employee Benefits.

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2022 New Compliance Considerations Keep Popping Up 

HR Professionals Magazine

Insurance ID Cards – Insurance ID cards must include in-network and out-of-network deductibles, out-of-pocket maximums and a telephone number and website address for assistance. Information for 2020 and 2021 is due by Dec. In many cases, it will be necessary and appropriate for vendors to assist with compliance.

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CARES Act - Impact on HSAs, HCFSAs, and HRAs

AssuredPartners

Consumers may also receive reimbursement for OTC purchases through those accounts. This provision is effective immediately and will expire December 31, 2021. In addition, menstrual products are now considered a qualified medical expense, meaning consumers can pay for or be reimbursed for these products through an HSA, HCFSA or HRA.

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How to offer health insurance as a small business

Higginbotham

percent of Americans had employer-based health insurance in 2021, making this the most common type of health insurance. According to HealthCare.gov, this is an account-based health plan that lets employers provide a defined non-taxed reimbursement to employees. Health Savings Accounts (HSAs) or Flexible Spending Accounts (FSA).