Money Talk

JUNE 29, 2022

Last year, I wrote a blog post about mid-year financial check-up s for the OneOp Personal Finance team. Among the culprits: climate change, higher costs for labor and supplies to repair houses and cars, and higher out-of-pocket costs for employer-provided health insurance.

401(k) 245

401(k) Out of Pocket Cost Finance Flexible Spending Account 245

InterWest Insurance Services

MAY 9, 2022

But for employees in your group health plan, they have many options for obtaining a test with no out-of-pocket costs. Under an executive order issued by President Biden, employees in a group health plan are eligible to receive COVID-19 at-home test kits with no cost-sharing, copay, coinsurance or deductible.

Out of Pocket Cost 96

Out of Pocket Cost Health Insurance Insurance Carriers Hospitality 96

InterWest Insurance Services

JANUARY 18, 2024

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.

Out of Pocket Cost 61

Out of Pocket Cost Deductions Deductible Voluntary Benefits 61

InterWest Insurance Services

MARCH 16, 2023

The poll of 26 health benefits decision-makers at large firms, carried out by The Commonwealth Fund and the Employee Benefits Research Institute (EBRI), found that despite rising premium and health care costs, they felt obligated to offer health insurance instead of shunting employees to exchanges.

Health Insurance 96

Health Insurance Employment Out of Pocket Cost Health Savings Account 96

InterWest Insurance Services

JANUARY 27, 2023

Even if you are providing them with a robust plan, there are often out-of-pocket cost-sharing and deductibles to contend with. For employees in high-deductible health plans, the costs can be steep. Many preventative services are covered with no out-of-pocket cost-sharing, but checkups usually are not.

Out of Pocket Cost 89

Out of Pocket Cost 401(k) Deductions Deductible 89

InterWest Insurance Services

JULY 13, 2023

Employers who were surveyed for a new report expected that group health insurance premiums would increase 5.4% this year and at a faster clip in 2024 as inflation hits medical costs. 24% said they would up employee cost-sharing, but by less than the projected increase. copay plan).

Employment 93

Employment Out of Pocket Cost Health Insurance Health Savings Account 93

InterWest Insurance Services

JANUARY 26, 2022

The report states that the findings raise concerns about whether some employees can even afford to use their health plans. It stressed two main points: High deductibles — The report found one of the main drivers of stress was high deductibles and other out-of-pocket costs.

Out of Pocket Cost 97

Out of Pocket Cost Deductions Deductible Flexible Spending Account 97

InterWest Insurance Services

JUNE 2, 2023

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.

Out of Pocket Cost 97

Out of Pocket Cost Health Savings Account Medical Health Insurance 97

InterWest Insurance Services

MARCH 4, 2022

As rising health insurance premiums and out-of-pocket costs for health care are burdening workers, more employers are looking for ways to help their staff put aside money for those expenses. Fortunately, there is another option: a health reimbursement arrangement (HRA). Qualified medical expenses.

Medical 94

Medical Health Insurance Out of Pocket Cost Deductions 94

InterWest Insurance Services

JANUARY 5, 2023

Despite group health insurance costs expected to rise 5.4% this year, the tight labor market is forcing employers to prioritize enhancing benefits over cost-cutting measures, according to a new report by Mercer. The expected health insurance cost growth of 5.4% What employers are doing.

Out of Pocket Cost 73

Out of Pocket Cost Employment Health Insurance Deductions 73

InterWest Insurance Services

JUNE 16, 2022

More employers are including narrow provider network insurance plans among their plan offerings to their employees to give them a lower-cost premium option. Narrow provider networks limit the number of covered providers included in health insurance plans. There is no limit if your employee goes out of network.

Employment 97

Employment Out of Pocket Cost Health Insurance Insurance 97

CorpStrat

DECEMBER 15, 2022

Health insurance may be one of the most critical annual purchases since it impacts your physical, mental, and financial wellness. Unfortunately, selecting a health insurance plan can feel overwhelming. This article explores six common missteps related to selecting a health insurance plan.

Health Insurance 52

Health Insurance Out of Pocket Cost Deductions Deductible 52

InterWest Insurance Services

DECEMBER 28, 2021

But if you have an 80-20 plan, your worker is still responsible for her deductible (averaging over $1,600), plus 20% of that cost, or over $6,000. That leaves your worker exposed to a total out-of-pocket cost of over $7,600. even for people with health insurance. Little or no cost to the employer.

Voluntary Benefits 94

Voluntary Benefits Hospitality Insurance Out of Pocket Cost 94

InterWest Insurance Services

JUNE 22, 2023

Finally, Sanofi two days later announced that it would cap the out-of-pocket cost of its most popular insulin, Lantus, at $35 per month for people with private insurance. In the small group market, the median cost health plan enrollees pay is $54 per month, while one-quarter pay $83.

Insurance 80

Insurance Out of Pocket Cost Pharmaceutical Deductions 80

InterWest Insurance Services

NOVEMBER 22, 2023

According to the Centers for Disease Control, six out of every 10 American adults have at least one chronic condition, with 40% having two or more. As a result, chronic conditions play an outsized role in the cost of group health insurance. Routine immunizations. Preventive services for men and women.

Out of Pocket Cost 89

Out of Pocket Cost Education Insurance Health Insurance 89

Business Management Daily

APRIL 29, 2024

Different benefits appeal to different teams, but what matters most is providing more than just the bare minimum—health insurance, workers’ compensation, and a competitive salary. In this blog, we’ll talk about different types of fringe benefits and how employers can make the most of what’s available.

Out of Pocket Cost 84

Out of Pocket Cost PTO 401(k) Deductions 84

InterWest Insurance Services

SEPTEMBER 23, 2022

But the costs of coverage can be daunting and many employers worry about whether they can afford benefits programs and struggle to set a budget that won’t deplete or severely dent their profits. Typically, the most expensive and most important benefit is health insurance. Don’t game the system. Getting it right.

Health Insurance 90

Health Insurance Out of Pocket Cost Insurance Paid Leave 90

InterWest Insurance Services

MAY 4, 2023

Most health insurers plan to continue offering free preventative care services despite a federal judge having imposed a nationwide injunction on an Affordable Care Act requirement that these services are covered with no out-of-pocket costs on the part of patients, according to a letter by industry trade groups.

Insurance 62

Insurance Out of Pocket Cost Insurance Carriers Health Insurance 62

InterWest Insurance Services

MAY 25, 2022

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.

Employment 87

Employment Out of Pocket Cost Health Insurance Insurance 87

InterWest Insurance Services

SEPTEMBER 27, 2023

It’s almost time for group health insurance open enrollment and your top priority should be to drive participation by helping your employees make informed decisions about their options. Typically, the higher the premium on a plan, the lower the employee’s out-of-pocket costs are.

Out of Pocket Cost 75

Out of Pocket Cost Flexible Spending Account Health Savings Account Health Insurance 75

InterWest Insurance Services

MAY 11, 2023

Don’t forget your health insurance There is an extensive list of mental health services your health plan should provide your staff. Of course, there will likely be some out-of-pocket costs for your employees that use these services under their group health plans.

Family and Medical Leave Act 97

Family and Medical Leave Act Employment Parental Leave Out of Pocket Cost 97

InterWest Insurance Services

MARCH 15, 2022

It’s no secret that most employees do not fully understand all of their health insurance benefits, which can lead to worse health outcomes and them spending more money than they need to for some medical procedures. Overtreatment and unnecessary treatments can lead to worse health outcomes and higher out-of-pocket costs.

Out of Pocket Cost 96

Out of Pocket Cost Health Savings Account Health Insurance Medical 96

InterWest Insurance Services

FEBRUARY 8, 2023

As health insurance and health care costs continue rising, more employers and health plans are turning to centers of excellence to manage patients with chronic conditions. The employer and/or health plan saves money by not having to shell out thousands for surgery that could have been avoided.

Out of Pocket Cost 86

Out of Pocket Cost Insurance Health Insurance Medical 86

Benefit Resource Inc.

OCTOBER 24, 2019

But for those who don’t live in a daily world of healthcare jargon, what are out of pocket expenses? An out-of-pocket expense, according to HealthCare.gov , is “Your expenses for medical care that aren’t reimbursed by insurance. These accounts are designed to cover eligible out-of-pocket expenses.

Out of Pocket Cost 45

Out of Pocket Cost Flexible Spending Account Flexible Spending Health Savings Account 45

Benefit Resource Inc.

JUNE 6, 2019

Screening mammograms are free through almost every insurance plan. From ACA marketplace insurance, to private and group health insurance. In the mean time, it is a comfort to know that our HSA is there to cover any unexpected out-of-pocket costs. Most of us think that mammograms are free.

Out of Pocket Cost 61

Out of Pocket Cost Health Savings Account Mining Healthcare 61

AssuredPartners

AUGUST 5, 2021

You may have heard something about new transparency requirements that are going into effect soon for health plans. This briefing will outline those various legal requirements and the impact on your group health plans.

Out of Pocket Cost 69

Out of Pocket Cost Insurance Carriers Pharmaceutical Insurance 69

AssuredPartners

MARCH 31, 2020

All other plans (fully insured or self-funded) need to comply.

Health and Welfare 52

Health and Welfare Health Savings Account Out of Pocket Cost Flexible Spending Account 52