WEX Inc.

JULY 24, 2023

And it’s a solution you might already be offering: the health savings account. These accounts provide another way for your employees to diversify their efforts to prepare for retirement. We cover some of the survey findings in this blog post and infographic. Why HSAs for retirement planning? Yes,” Cook said.

Retirement Plan 98

Retirement Plan 401(k) Health Savings Account Taxes 98

InterWest Insurance Services

FEBRUARY 20, 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. HSAs are tax-advantaged accounts that allow enrollees to save up to pay qualified medical expenses.

Deductions 90

Deductions Deductible Out of Pocket Cost Health Savings Account 90

InterWest Insurance Services

MAY 16, 2024

The dip, while seemingly small, represents millions of workers that have opted for other plans as employers are offering a greater variety of plans to their employees, including preferred provider organizations (PPOs) and health maintenance organizations. The many benefits of HSAs Employees contribute pre-tax dollars to the account.

401(k) 89

401(k) Deductions Deductible Health Savings Account 89

WEX Inc.

JANUARY 4, 2023

COBRA can provide important health insurance security when you’ve experienced job loss or another qualifying event. And election of COBRA can affect your ability to use the reimbursement accounts in which you were participating prior to your COBRA eligibility. You don’t have any disqualifying coverage (such as an FSA).

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

InterWest Insurance Services

NOVEMBER 10, 2022

One of the most difficult aspects of annual open enrollment is reaching workers who are disengaged from the process and never bother signing up for your group health plan and other benefits they could take advantage of. Turning 26 — This is the age that individuals are no longer allowed to be covered by their parents’ health insurance.

401(k) 81

401(k) Health Savings Account Health Insurance Insurance 81

PeopleKeep

SEPTEMBER 26, 2022

When considering health insurance policies for your organization, you may have wondered if it’s better to have a low deductible health plan (LDHP) or a high deductible health plan (HDHP). HDHPs can come with significant savings for employers and employees, especially if you maximize them.

Deductions 52

Deductions Deductible Health Savings Account Health Insurance 52

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. Point of service – A POS health plan is a mix between an HMO and a PPO-style health insurance policy.

Family and Medical Leave Act 96

Family and Medical Leave Act Out of Pocket Cost Deductions Deductible 96

InterWest Insurance Services

JUNE 16, 2022

One in five workers surveyed said that health care and health insurance are a major factor when deciding to accept a job, compared with only 13% of human resources executives, according to the “2022 Health at Work” survey by Quest Diagnostics. That should be a wake-up call for employers.

401(k) 93

401(k) Health Insurance Health Savings Account Insurance 93

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. Point of service – A POS health plan is a mix between an HMO and a PPO-style health insurance policy.

Family and Medical Leave Act 92

Family and Medical Leave Act Out of Pocket Cost Deductions Deductible 92

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). per month).

Medical 91

Medical Health Insurance Out of Pocket Cost Deductions 91

COMPackage

AUGUST 10, 2023

Research has proven that employees are more satisfied with their employer relationship if they receive an annual total compensation statement. And every employer wants to stand out with their employee benefits. Unfortunately, your brand can’t stand out if your benefits are only the ones every employer offers.

401(k) 52

401(k) Health Savings Account Health Insurance PTO 52

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. Whatever they don’t spend goes back to you, the employer. In essence, they get 14.5

Out of Pocket Cost 97

Out of Pocket Cost Health Savings Account Medical Health Insurance 97

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. HSAs are tax-advantaged accounts that allow enrollees to save up to pay qualified medical expenses.

Out of Pocket Cost 59

Out of Pocket Cost Deductions Deductible Voluntary Benefits 59

InterWest Insurance Services

MAY 23, 2022

That’s a shame because many employees are woefully unaware of how their benefits function and are often not taking full advantage of what their employer and they are paying for. 15, all health insurers are required to reimburse covered individuals for up to eight at-home COVID-19 tests per month.

Education 93

Education Health Insurance Health Savings Account Insurance 93

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. The takeaway Open enrollment can be a hectic and stressful time for both the employer and workers.

Out of Pocket Cost 72

Out of Pocket Cost Flexible Spending Account Health Savings Account Health Insurance 72

InterWest Insurance Services

JULY 20, 2022

If they are not educated on their options and how health plans work, those new to employment can make poor decisions that could have serious financial repercussions. To help these new recruits get the most out of the benefits you offer, you can start by focusing on the following: School them on health insurance.

Education 93

Education 401(k) Deductions Deductible 93

InterWest Insurance Services

NOVEMBER 25, 2022

The IRS has released the 2023 maximum contribution amounts for health savings accounts and flexible spending accounts. The changes, which the IRS releases in November each year, will affect contribution limits for HSAs, FSAs and 401(k) and other retirement accounts. 7,750 for family coverage (up $450).

401(k) 88

401(k) Deductions Deductible Flexible Spending Account 88

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. These tools can help employees make informed health care decisions, while their employer can save money.

Out of Pocket Cost 94

Out of Pocket Cost Health Savings Account Health Insurance Medical 94

InterWest Insurance Services

JANUARY 26, 2022

Mental health issues have come to the fore during the COVID-19 pandemic, spurring employers to expect their group health plans to do more for their workers in this area. The Centivo report found that: S. These are funded with deductions from the employees’ salaries before taxes are taken out.

Out of Pocket Cost 95

Out of Pocket Cost Deductions Deductible Flexible Spending Account 95

Business Management Daily

APRIL 29, 2024

Fringe benefits are how employers make up the gap. 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. Unfortunately, having insurance coverage tied to employment puts employers in a difficult position.

Out of Pocket Cost 84

Out of Pocket Cost PTO 401(k) Deductions 84

Empuls

JULY 11, 2023

In the ever-evolving world of employment, organizations are increasingly focusing on enhancing employee satisfaction and well-being. In this blog, we will discuss tax free or non taxable employee benefits. The primary purpose of this blog is to explore various tax free employee benefits and shed light on their advantages.

Employee Benefits 40

Employee Benefits Flexible Spending Account roth 401(k) 401(k) 40

InterWest Insurance Services

DECEMBER 3, 2021

Avoid getting bogged down in health insurance jargon and keep it simple. Don’t think of it as talking down to your employees, because there’s a good chance some of them are not familiar with how health coverage works. That means breaking the benefits down to the basics in language anyone can understand.

Health Savings Account 92

Health Savings Account Deductions Deductible Health Insurance 92

AssuredPartners

MARCH 31, 2020

Consumers may also receive reimbursement for OTC purchases through those accounts. It does not have an expiration date.n"},{"attributes":{"bold":true},"insert":"Implementation Tips:"},{"insert":"nNo changes are necessary to implement these changes to a Health Savings Account.

Health and Welfare 52

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

PeopleStrategy

JULY 8, 2019

And, sadly, almost two-thirds (62 percent) of survey participants said their employer is not a resource for healthcare-related questions. Premium : this is the annual cost of an employer-sponsored health plan. The amount will vary by plan and by type of visit (i.e., Benefit types and classes.

Health Savings Account 82

Health Savings Account Deductions Deductible Healthcare 82

InterWest Insurance Services

DECEMBER 14, 2021

Employers looking for ways to decrease their group health insurance outlays over the past decade have been turning to high-deductible health plans as they offer lower up-front premiums. These employees may instead be overpaying for their premiums if they are not in an HDHP with an attached health savings account (HSA).

Deductions 84

Deductions Deductible Health Savings Account Medical 84

Benefit Resource Inc.

FEBRUARY 18, 2020

It is important to understand the specific rules for your employer’s plan. Health Savings Accounts are not subject to COBRA, but they play an important role in benefits continuation. Health Savings Accounts tend to get a little trickier. So really, there is no reason to have COBRA for the HSA.

Taxes 40

Taxes Flexible Spending Account Health Savings Account Flexible Spending 40

Benefit Resource Inc.

MARCH 12, 2019

This may be the shortest blog on pre-tax benefits you will ever read. Of note: pre-tax benefits are only available if your employer offers them. Your employer may offer one or all. In sum, you submit a claim for reimbursement in order to pay yourself back from your pre-tax account. An HRA is free money from your employer.

Taxes 63

Taxes Flexible Spending Account Health Savings Account Medical 63

Vantage Circle

SEPTEMBER 11, 2023

In this blog, we have handpicked some of the best benefits platforms that cater to all your requirements. Findings from the Blog? Benefits platforms also allow companies to centralize and automate the administration of employee benefits, such as health insurance, retirement plans, paid time off, and more.

Employee Benefits 52

Employee Benefits Payroll Retirement Plan Software 52

PeopleStrategy

SEPTEMBER 17, 2019

more than half of whom were employed: What is interesting is that even those who were unemployed said they would not immediately accept a high-paying job that offered no health insurance or other meaningful benefits. These include: Health insurance and related services : These are the bread and butter of contemporary benefits.

Benefits Package 49

Benefits Package Comprehensive Benefits 401(k) Flexible Spending Account 49

Qandle

AUGUST 26, 2022

Different accounts: RobustHR allows users to generate a wide variety of informative summaries, including those pertaining to Equal Employment Opportunities, Benefits, Taxation, and more. Employers have less bureaucratic red tape to deal with when it comes to digital timesheets and overtime demands.

Software 98

Software 401(k) Human Resources Payroll 98