article thumbnail

Four High Deductible Health Plan Mistakes to Avoid

InterWest Insurance Services

With more than half of all private sector employees enrolled in high-deductible health plans , it’s important that employers have in place certain protocols to ensure that they are a success. Providers in an insurer’s network may charge vastly different rates for the same procedure.

article thumbnail

HDHP Enrollees Less Satisfied with Their Health Plans

InterWest Insurance Services

But satisfaction greatly increases when HDHP enrollees stick with their plan for more than three years, according to the Employee Benefit Research Institute (EBRI)/Greenwald Research “Consumer Engagement in Health Care Survey.”

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Four Ways to Ensure Your Group HDHP Will Fail

InterWest Insurance Services

With more than half of all private sector employees enrolled in high-deductible health plans , it’s important that employers have in place certain protocols to ensure that they are a success. Providers in an insurer’s network may charge vastly different rates for the same procedure.

article thumbnail

16 Surprising FSA and HSA Eligible Expenses Your Employees Should Know About

InterWest Insurance Services

Employers offer flexible savings accounts and health savings accounts to their employees so they can build up funds with pre-tax dollars to pay for health care and related expenses. In 2023, the maximum an employee can carry over is $610. If they have more than that at the end of the year, the rest goes back to you.

article thumbnail

Employers Focus on Cost Containment, Mental Health and Telemedicine

InterWest Insurance Services

A new survey has found that managing health care costs and expanding mental health benefits will be a top priority for U.S. Dealing with rising costs. In light of continuing rising health insurance costs, 94% of employers surveyed said they are redoubling their efforts to make benefits more affordable for their workers.

article thumbnail

Departments Provide Relief for 2020 and 2021 Prescription Drug Reporting

Benefits Notes

In addition, plans and issuers now have until January 31, 2023 to provide a good faith submission of 2020 and 2021 data through the Health Insurance Oversight System. The prescription drug and health care spending reporting obligation falls on the group health plan.

article thumbnail

5 Things You Didn’t Know About Your FSA

CorpStrat

Healthcare costs have risen faster than inflation. In 2023, having some money set aside to cover these out-of-pocket costs is critical for most employees. For 2023, the FSA limit has increased to $3,050 for an individual and $5,000 for a family. – If you have any questions, feel free to reach out.