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Navigating HSAs and the Health, Wealth, and Wellness Triangle

Benefit Resource Inc.

The Health, Wealth, Wellness Triangle has emerged as a framework that acknowledges the interconnectedness of personal health, financial stability, and overall wellness. The Health Component A cornerstone of the Health, Wealth, Wellness Triangle is, unsurprisingly, health itself.

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Employers Expect Higher Premiums, Little to No Cost-Shifting

InterWest Insurance Services

Employers said they are looking to manage growing group benefit costs without shifting costs to employees, as they realize that their staff are likely dealing with inflation in all facets of their lives, including their medical bills, according to Mercer’s “Survey on Health and Benefit Strategies for 2024.”

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The benefits of an HSA account

Higginbotham

Employers and employees alike are looking for ways to make health care more affordable. Some are turning to Health Savings Accounts (HSAs). Although HSAs won’t work for everyone, the benefits of an HSA account make this an appealing option for some individuals. What is a Health Savings Account (HSA)?

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Identify Your Workers’ Needs, Consider Costs before Open Enrollment

InterWest Insurance Services

With answers and feedback in hand you can create a benefits package that is more appealing to them, which in turn gives you a competitive edge when attracting and retaining workers. Engage employees and solicit feedback through quarterly employee-benefits round table meetings. Get an early start If your plan year starts Jan.

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What does coinsurance mean in health insurance?

Higginbotham

Cost Sharing in Insurance Although insurance companies take responsibility for many of the costs that arise, policyholders are also responsible for some out-of-pocket costs on top of the premium. This is called cost sharing, and it’s common in many types of insurance. What about the out-of-pocket maximum?

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Download our HR Pain Points and Challenges eBook

Benefit Resource Inc.

Managing cost increases can be challenging, but the underlying health plan will often be the key to reducing your costs. Position your benefits plans and the opportunities, so employees pay for their increasing out-of-pocket costs. No one can predict what they need or want when it comes to employees.

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How to offer health insurance as a small business

Higginbotham

Although it may seem easier to boost wages and forget about employee benefits, due to potential tax breaks, offering health insurance can be a financially sound strategy. A benefits package can also boost your company’s bottom line by supporting a healthy workforce. If you need more guidance, Higginbotham can help.