article thumbnail

Budgeting and Prepping for Open Enrollment

InterWest Insurance Services

Going out of network is discouraged with high out-of-pocket costs. Preferred provider organizations – PPOs contract with hospital and provider networks to help control costs. While they will cover services outside of the network, the cost is higher than going in-network.

article thumbnail

Budgeting and Prepping for Open Enrollment

InterWest Insurance Services

Going out of network is discouraged with high out-of-pocket costs. Preferred provider organizations – PPOs contract with hospital and provider networks to help control costs. While they will cover services outside of the network, the cost is higher than going in-network.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Waiving HDHP Deductibles Has Little Effect on Premiums, Study Says

InterWest Insurance Services

The reason: According to research from Johns Hopkins University, poorly managed chronic medical conditions cost employers an estimated $198 billion every year. These costs show up in several ways: Direct usage of medical services such as preventable ER visits and hospitalization. Cost of temporary workers.

article thumbnail

More Employers Expand Mental Health Benefits

InterWest Insurance Services

As a result, some employers are offering programs that cover a spectrum of behavioral health care options, such as: Self-care apps for employees experiencing occasional stress In-person therapy sessions Virtual therapy sessions Prescription medication to treat common, diagnosable conditions such as anxiety or depression.

article thumbnail

Employee benefits for small businesses

Higginbotham

Many workers have family members, often including young children, who depend on their income. Life insurance helps ensure that they will be able to provide for their families even if the worst were to happen. Some employers offer paid sick leave, but usually not enough to cover a serious health problem.