InterWest Insurance Services

JUNE 2, 2023

Both FSAs and HSAs have the same rules for what they will cover. For the most part, people use their funds in FSAs and HSAs to reimburse themselves for out-of-pocket costs like copays, health insurance deductibles and the cost of prescription medications. In 2023, the maximum an employee can carry over is $610.

Out of Pocket Cost 98

Out of Pocket Cost Health Savings Account Medical Health Insurance 98

InterWest Insurance Services

MARCH 4, 2022

In addition, federal regulations dictate what types of health care expenses HRAs can reimburse, and those rules vary depending on the type of HRA you offer. While health savings accounts have grown in popularity, you can only offer them to employees who are enrolled in high-deductible health plans. per month).

Medical 98

Medical Health Insurance Out of Pocket Cost Deductions 98

InterWest Insurance Services

DECEMBER 21, 2023

The explosion in demand for new, costly and highly effective weight-loss and diabetes drugs is poised to play an outsized role in increasing the cost of health care, and in turn, health insurance in America. in 2023, compared to an increase of 6.4% in 2022, according to a report by Mercer. in 2023, compared to an increase of 6.4%

Pharmaceutical 98

Pharmaceutical Employment Medical Food 98

InterWest Insurance Services

AUGUST 22, 2023

If you are running a business, you need to get an early start on preparations for your small group health plan open enrollment, particularly now as so much confusion abounds about the state of health insurance in the country. Going out of network is discouraged with high out-of-pocket costs.

Family and Medical Leave Act 98

Family and Medical Leave Act Out of Pocket Cost Deductions Deductible 98

InterWest Insurance Services

AUGUST 1, 2023

If you are running a business, you need to get an early start on preparations for your small group health plan open enrollment, particularly now as so much confusion abounds about the state of health insurance in the country. Going out of network is discouraged with high out-of-pocket costs.

Family and Medical Leave Act 98

Family and Medical Leave Act Out of Pocket Cost Deductions Deductible 98

InterWest Insurance Services

JANUARY 5, 2023

What employers are doing. 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%

Out of Pocket Cost 92

Out of Pocket Cost Employment Health Insurance Deductions 92

Benefit Resource Inc.

MAY 27, 2021

But what about covering the remaining costs? And what about other expensive dental-related costs such as orthodontia? Here are some examples of what you can spend those funds on: Artificial teeth/dentures/denture cleaners. Here are some examples of what you can spend those funds on: Artificial teeth/dentures/denture cleaners.

Flexible Spending Account 75

Flexible Spending Account Flexible Spending Health Savings Account Health 75

PeopleStrategy

NOVEMBER 1, 2023

See what worked for you last year, the year before, etc. What has changed from last year? Gather all printed materials, digital platforms, and support staff to see what needs updated or is ready to use. Clear, specific communication is a cornerstone of open enrollment. Customize communication. Read that post next.)

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Utilities Flexible Spending 52

InterWest Insurance Services

DECEMBER 27, 2022

What will it cost? As more health services are being rendered through providers’ patient portals and telemedicine, some providers are starting to bill for some of those interactions. Those costs will be passed on to health plan enrollees — likely in the form of copays or coinsurance — and insurers. Is a new trend starting?

Hospitality 98

Hospitality Medical Insurance Health Insurance 98

Benefit Resource Inc.

MARCH 12, 2020

Here’s what your employees need to know about this term and why it matters for improving enrollment rates. After you spend this amount on deductibles, copayments, and coinsurance for in-network care and services, your health plan pays 100% of the costs of covered benefits.” One such term is out of pocket maximum.

Deductions 40

Deductions Deductible Medical Insurance 40

InterWest Insurance Services

DECEMBER 28, 2021

Many employers use hospital indemnity coverage to help close the gap between the worker’s needs and what an existing group medical plan will cover. But that still leaves workers and their families with significant exposure to financial hardship in the event of a serious medical emergency. Hospital indemnity insurance. Coinsurance.

Voluntary Benefits 98

Voluntary Benefits Hospitality Insurance Out of Pocket Cost 98

InterWest Insurance Services

DECEMBER 3, 2021

After open enrollment, run a report looking at what plans your employees are signed up for and see if they are concentrated in certain plans. Staying in the same plan after year can be a waste of money if someone is in the wrong plan for them. Here are three tips that will help them get the most out of their benefits. The simpler the better.

Health Savings Account 98

Health Savings Account Deductions Deductible Health Insurance 98

InterWest Insurance Services

MAY 9, 2022

Here’s what your employees need to know: Steps for reimbursement. But for employees in your group health plan, they have many options for obtaining a test with no out-of-pocket costs. Additionally, most health plans are also covering tests performed at hospitals, clinics and pharmacies. On-site tests.

Out of Pocket Cost 98

Out of Pocket Cost Health Insurance Insurance Carriers Hospitality 98

InterWest Insurance Services

MAY 12, 2022

Knowing what these limits are in advance can help employers plan their messaging for the 2023 open enrollment season. For those 55 or older: People who are 55 or older are allowed to contribute an additional $1,000 a year to their HSA, under federal law. HSAs explained. Under federal law, an HSA must be tied to an HDHP. Planning ahead.

Health Savings Account 98

Health Savings Account Deductions Deductible Health 98

Griffin Benefits

AUGUST 25, 2021

In a recent blog, we discussed how consumers can save on prescription medications , including comparison shopping, manufacturer rebates and discounts, drug substitution, pill splitting, bulk buying, mail-order, and more. Can you imagine how different our shopping behavior would be if we knew what healthcare services would cost in advance?

Healthcare 65

Healthcare Hospitality Deductions Deductible 65

Abel HR

AUGUST 25, 2021

At this point, it seems obvious what is driving this “mental health tsunami.” In a recent survey , 91 percent of HR executives suggested that this past year was the hardest in their professional career, with a whopping 87 percent reporting that mental health is the most pressing “impact of the past year on the workforce.” Make it a perk.

Health Savings Account 52

Health Savings Account Healthcare Medical Management 52

InterWest Insurance Services

DECEMBER 14, 2021

Explain how they can funnel what they save in premiums into an HSA so they can save their money for future medical expenses (more on HSAs later). In 2021, 51% of the U.S. workforce was enrolled in one of these plans, according to a recent survey by ValuePenguine.com. Lack of education. They can do this with the usage scenarios you provide.

Deductions 97

Deductions Deductible Health Savings Account Medical 97

Benefit Resource Inc.

OCTOBER 24, 2019

But it made me think: What are the things I want to hear before Open Enrollment? So, what are three ways you can have a better benefits season? Use that as a framework to see what kind of health plan and pre-tax options might be the best fit for you this year. Read more about what qualifies as an eligible expense ).

Out of Pocket Cost 45

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

Griffin Benefits

NOVEMBER 23, 2021

Editor's note: We'd like to thank Ann Lloyd of StudentSavingsGuide.com for collaborating with us on this week's blog post. Employee benefit offerings can be powerful motivational tools. They can help steer workers to new opportunities or drive loyalty to current organizations. Age can often be a significant determinant of budget and benefits.

401(k) 55

401(k) Retirement Plan Healthcare Life Insurance 55

Abel HR

JULY 19, 2021

Among the myriad changes businesses are weathering, navigating the benefits open enrollment season is presenting quite an issue as companies grapple with what perks their employees want most in this new world. . One approach several businesses are piloting is that of looking at Social Determinants of Health (SDOH). Expand your limits.

Benefits Package 52

Benefits Package Medical Healthcare Transportation 52

Benefit Resource Inc.

OCTOBER 18, 2018

Beginner Tip: If you aren’t sure what any of those numbers are, you can use one of these alternative options. See Part B of our blog FSA Eligible Purchases for the End of the Year ). Let’s be honest– one of the main reasons you enrolled in a pre-tax account was to save money. Getting Started. Estimating Expenses.

Deductions 74

Deductions Deductible Health Flexible Spending Account 74

WEX Inc.

JULY 20, 2023

One common thread in their responses as to what was missing: They want benefits options. Deductible options The words “health”, “coverage”, “insurance”, and “deductible” were among the most frequent words to appear when participants were asked in our survey what was missing from their benefits. Benefits options matter.

Deductions 75

Deductions Deductible Flexible Spending Account Health Savings Account 75

PeopleStrategy

JULY 30, 2020

We also quickly figured out that we have to prepare for the worst-case scenario, which is what a lot of HR leaders and benefits brokers are doing. We also quickly figured out that we have to prepare for the worst-case scenario, which is what a lot of HR leaders and benefits brokers are doing.

Retirement Plan 69

Retirement Plan Insurance Health Insurance Deductions 69

Vantage Circle

NOVEMBER 23, 2023

And what are HR’s going to gain from it? What can you take away from the blog Key Takeaways What are employee perks? What can you take away from the blog Key Takeaways What are employee perks? From corner offices to open floor plans, the heartbeat of American workplaces is changing.

Family and Medical Leave Act 64

Family and Medical Leave Act 401(k) Retirement Plan roth 401(k) 64