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Budgeting and Prepping for Open Enrollment

InterWest Insurance Services

Understand your options Familiarize yourself with the various options that you have: Health maintenance organizations – HMOs are typically the least expensive plans because they require enrollees to visit their personal physicians and tightly controlled in-network doctors. Going out of network is discouraged with high out-of-pocket costs.

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Budgeting and Prepping for Open Enrollment

InterWest Insurance Services

Understand your options Familiarize yourself with the various options that you have: Health maintenance organizations – HMOs are typically the least expensive plans because they require enrollees to visit their personal physicians and tightly controlled in-network doctors. Going out of network is discouraged with high out-of-pocket costs.

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As Health Care Costs Bite, Here’s How You Can Help Your Workers

InterWest Insurance Services

Recent studies have highlighted an alarming trend in American health care: More and more people are struggling with medical bills and many are delaying care due to high costs. The most recent poll by Gallup found that 38% of those surveyed said they or a family member had delayed care in 2022 due to high costs.

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Smallest Firms See Largest Health Insurance Hikes

InterWest Insurance Services

A new report has found that small businesses that purchase their group health insurance online or through payroll vendors saw the largest premium hikes in 2022, significantly higher than those that went through brokers. The cost for individual group health plans increased 6.7% overall between 2021 and 2022.

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The benefits of an HSA account

Higginbotham

Employers and employees alike are looking for ways to make health care more affordable. Some are turning to Health Savings Accounts (HSAs). Although HSAs won’t work for everyone, the benefits of an HSA account make this an appealing option for some individuals. What is a Health Savings Account (HSA)?

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Executive benefit reimbursement plans

Higginbotham

Even with health insurance, dental insurance and vision insurance, employees tend to end up with some out-of-pocket costs that aren’t covered by their various plans. A benefit reimbursement plan offers a way to cover these costs. According to Investopedia , the maximum benefit in 2022 is $1,800.

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Having a Baby? Use Your Pre-Tax Funds to Save

Benefit Resource Inc.

Even with health insurance, labor and delivery can cost around $5,000, and without insurance, it can be upwards of $40,000. Fortunately, one great way to help with out-of-pocket costs is utilizing a Health Savings Account (HSA). Switch to a high-deductible health plan.

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