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How to offer health insurance as a small business

Higginbotham

They want to be fairly compensated for their work, and that usually involves both wages and employee benefits. Although some small business owners may feel overwhelmed by the prospect of offering health insurance and other benefits, the many advantages can make the effort worthwhile. Health insurance matters to employees.

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The benefits of an HSA account

Higginbotham

What is a Health Savings Account (HSA)? It can be funded on a pre-tax basis, and the owner can use the untaxed funds for qualified medical expenses. If you use HSA money for non-qualified expenses before you turn 65, you will have to pay federal income tax plus a 20 percent penalty. What are the benefits of having an HSA?

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Examples of fringe benefits by category

Business Management Daily

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.

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Executive benefit reimbursement plans

Higginbotham

This may be a good option for employers that want to simplify their health plan administration while giving employees flexibility. Integrated health reimbursement arrangements are designed to work with the group health plan. A benefit reimbursement plan offers a way to cover these costs.

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16+ types of employee benefits you should consider

Genesis HR Solutions

According to Healthcare.gov , a Flexible Spending Account (also known as a flexible spending arrangement) is a special account employees put money into that they use to pay for certain out-of-pocket health care costs. Health Savings Account (HSA). Hospital Insurance. Life Insurance. Healthcare.gov ).

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FSA eligible expenses — what purchases count?

Business Management Daily

Open enrollment is underway for many companies right now and one benefits offering that may be on the menu this year is an FSA. Employers are constantly looking for ways to remain competitive in their benefits offerings, and an FSA is a great add-on to your benefits package. Healthcare FSA. Medical Marijuana.

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Budgeting and Prepping for Open Enrollment

InterWest Insurance Services

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.