InterWest Insurance Services

MAY 25, 2022

A new survey has found that managing health care costs and expanding mental health benefits will be a top priority for U.S. employers as they ramp up benefits to compete for talent in the tight job market spawned by the COVID-19 pandemic. Here’s the direction many employers are going, according to the survey.

Employment 97

Employment Out of Pocket Cost Health Insurance 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. The employer can also contribute to its employees’ HSAs to encourage participation.

Out of Pocket Cost 74

Out of Pocket Cost Deductions Deductible Voluntary Benefits 74

Business Management Daily

APRIL 29, 2024

Fringe benefits are how employers make up the gap. In this blog, we’ll talk about different types of fringe benefits and how employers can make the most of what’s available. Unfortunately, having insurance coverage tied to employment puts employers in a difficult position. People want more.

Out of Pocket Cost 84

Out of Pocket Cost PTO 401(k) Deductions 84

Money Talk

JUNE 29, 2022

Last year, I wrote a blog post about mid-year financial check-up s for the OneOp Personal Finance team. This is a great time to increase emergency savings or automatic deposits into an employer retirement savings plan (e.g., Now is a good time to explore money-saving strategies to reduce insurance costs. 401(k) or 403(b) plan).

401(k) 245

401(k) Out of Pocket Cost Finance Flexible Spending Account 245

InterWest Insurance Services

NOVEMBER 22, 2023

A new report has found that the top driver of health care costs in the U.S. is chronic conditions, emphasizing the role that employers can assume in helping their employees better maintain these ailments. As a result, chronic conditions play an outsized role in the cost of group health insurance. Routine immunizations.

Out of Pocket Cost 97

Out of Pocket Cost Education Insurance Health Insurance 97

InterWest Insurance Services

AUGUST 10, 2023

While drugmakers have been assailed for years for increasing their prices and driving the cost of medications higher and higher, there is another player in the health care space that is receiving increased scrutiny: pharmacy benefit managers. PBMs typically contract with both insurers (or self-insured employers) and pharmacies.

Out of Pocket Cost 98

Out of Pocket Cost Manufacturing Insurance Medical 98

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. Employers can offer one of two options to give their employees more time to spend their funds: Grace period — You can provide an extra 2.5

Out of Pocket Cost 98

Out of Pocket Cost Health Savings Account Medical Health Insurance 98

Employer Connection

DECEMBER 5, 2022

They also can see estimated out-of-pocket costs, based on their health benefit plan. The easy-to-use, intuitive tool from Healthcare Bluebook is offered at no additional cost to covered employees via their employer-sponsored plan. Visit the Trustmark Regulatory Updates blog for more information.

Out of Pocket Cost 40

Out of Pocket Cost Life Insurance Healthcare Insurance 40

InterWest Insurance Services

MAY 26, 2023

While drugmakers have been assailed for years for increasing their prices and driving the cost of medications higher and higher, there is another player in the health care space that is receiving increased scrutiny: pharmacy benefit managers. PBMs typically contract with both insurers (or self-insured employers) and pharmacies.

Out of Pocket Cost 98

Out of Pocket Cost Manufacturing Insurance Medical 98

InterWest Insurance Services

APRIL 27, 2023

Overall rates for employers with 10 or fewer employees saw their family plan health insurance premiums jump 12% from 2021, compared to just 5.4% The Ease report notes that those higher premiums are likely hurting those small employers more than larger SMBs with between 51 and 250 workers.

Health Insurance 98

Health Insurance Insurance Out of Pocket Cost Deductions 98

InterWest Insurance Services

AUGUST 10, 2022

Employers who offer health savings account-eligible high-deductible health plans (HDHPs) to employees can significantly expand pre-deductible coverage for certain drugs used to manage chronic conditions — with only a tiny effect on premiums. Cost of temporary workers. Overtime costs. Absenteeism. Illness-related presenteeism.

Deductions 98

Deductions Deductible Family and Medical Leave Act Health Savings Account 98

InterWest Insurance Services

JULY 6, 2023

The latest insurer to announce an expansion of its telemedicine offerings is UnitedHealthcare, which recently said it would eliminate out-of-pocket costs for its 24/7 Virtual Visits program for eligible members enrolled in fully insured employer-sponsored plans, starting July 1.

Insurance 94

Insurance Out of Pocket Cost Hospitality Health Savings Account 94

InterWest Insurance Services

SEPTEMBER 27, 2023

Employees have a right to understand the costs they’ll be facing in each plan, including: Their share of the premium, Their deductible, Their copays or coinsurance, and Other out-of-pocket expenses. Typically, the higher the premium on a plan, the lower the employee’s out-of-pocket costs are.

Out of Pocket Cost 91

Out of Pocket Cost Flexible Spending Account Health Savings Account Health Insurance 91

InterWest Insurance Services

OCTOBER 20, 2022

The Centers for Medicare and Medicaid Services’ transparency rules were implemented to shine the light on what hospitals charge for their various medical services, the negotiated rates insurers have with health plans and the out-of-pocket costs enrollees can expect to pay for these services.

Hospitality 98

Hospitality Out of Pocket Cost Insurance Medical 98

InterWest Insurance Services

DECEMBER 28, 2021

Most employers offer major medical coverage to their full-time employees. For example, even with insurance, treating a broken leg or undergoing emergency appendicitis surgery can mean thousands of dollars in out-of-pocket medical costs. That leaves your worker exposed to a total out-of-pocket cost of over $7,600.

Voluntary Benefits 98

Voluntary Benefits Hospitality Insurance Out of Pocket Cost 98

McDermott Will & Emery Employee Benefits

JANUARY 14, 2022

The post Are Out-of-Pocket Costs on Their Way Out? At-Home COVID-19 Testing and Expanded Preventative Healthcare for Women and Children appeared first on EMPLOYEE BENEFITS BLOG.

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Out of Pocket Cost Healthcare Government Employee Benefits 69

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. Employers fund these accounts, which reimburse your staff for qualified medical expenses and, in some cases, insurance premiums.

Medical 98

Medical Health Insurance Out of Pocket Cost Deductions 98

InterWest Insurance Services

MARCH 15, 2022

A recent survey of 226 executives by Harvard Business Review Analytic Services concluded that employees and employers could enjoy better outcomes if it were easier for employees to find, understand and use the benefits available to them. These tools can help employees make informed health care decisions, while their employer can save money.

Out of Pocket Cost 98

Out of Pocket Cost Health Savings Account Health Insurance Medical 98

AssuredPartners

AUGUST 5, 2021

We have blogged about this several times over the past year or so as information has progressed but this article will serve as a way to further delve into the implementation of these new requirements, as rules continue to be clarified and finalized in the coming months.

Out of Pocket Cost 69

Out of Pocket Cost Insurance Carriers Pharmaceutical Insurance 69

AssuredPartners

MARCH 31, 2020

The bill does not specify what "telehealth and other remote care services" entails, but you can expect updates from us as we learn more either through regulations or DOL/Treasury FAQs.n"},{"attributes":{"bold":true},"insert":"Implementation Tips:"},{"insert":"nThe employer/plan sponsor will need to amend their plans to permit this change.

Health and Welfare 52

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

Benefit Resource Inc.

DECEMBER 20, 2018

If you have insurance and an employer-provided benefit that expires at the end of the year, you’ll be feeling the pressure from both sides. One of the most common employer-provided benefits is a Flexible Spending Account (FSA). If you took the advice in our last blog , you know to be careful when things get icy.

Out of Pocket Cost 40

Out of Pocket Cost Flexible Spending Account Flexible Spending Healthcare 40

InterWest Insurance Services

JUNE 16, 2022

More employers are including narrow provider network insurance plans among their plan offerings to their employees to give them a lower-cost premium option. While these plans have been mainstays on Affordable Care Act marketplaces, employers have been slow to adopt them. There is no limit if your employee goes out of network.

Employment 98

Employment Out of Pocket Cost Health Insurance Insurance 98

InterWest Insurance Services

AUGUST 22, 2023

With recent new regulations, options have changed for employers and you need to stay focused on maximizing your outcomes within your budget. 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.

Family and Medical Leave Act 98

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

InterWest Insurance Services

AUGUST 1, 2023

With recent new regulations, options have changed for employers and you need to stay focused on maximizing your outcomes within your budget. 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.

Family and Medical Leave Act 98

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

InterWest Insurance Services

JUNE 22, 2023

market, in March 2023 announced that they will cap the cost of insulin for people with private insurance plans. That includes those on employer-sponsored group health plans and plans purchased on a government-run exchange. Out of that population, 8.4 Three drugmakers, which account for roughly 90% of the insulin in the U.S.

Insurance 94

Insurance Out of Pocket Cost Pharmaceutical Deductions 94

InterWest Insurance Services

DECEMBER 29, 2023

A new study has found that most employer-sponsored family health plans are increasingly unaffordable for workers due to rising costs and them footing a significant part of the premium, even with employer assistance. But consumers also benefit from these plans through lower overall out-of-pocket expenses.

Deductions 97

Deductions Deductible Out of Pocket Cost Health Savings Account 97

InterWest Insurance Services

FEBRUARY 8, 2023

As health insurance and health care costs continue rising, more employers and health plans are turning to centers of excellence to manage patients with chronic conditions. The employer and/or health plan saves money by not having to shell out thousands for surgery that could have been avoided.

Out of Pocket Cost 97

Out of Pocket Cost Insurance Health Insurance Medical 97

InterWest Insurance Services

SEPTEMBER 23, 2022

But the costs of coverage can be daunting and many employers worry about whether they can afford benefits programs and struggle to set a budget that won’t deplete or severely dent their profits. For example, employers with fewer than 25 employees may qualify for federal tax credits if they offer health insurance.

Health Insurance 98

Health Insurance Out of Pocket Cost Insurance Paid Leave 98

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. workers are increasingly having difficulties in paying for health care, particularly due to high copays, deductibles and other health plan cost-sharing elements.

Out of Pocket Cost 98

Out of Pocket Cost Deductions Deductible Flexible Spending Account 98

InterWest Insurance Services

APRIL 22, 2022

House of Representatives has passed legislation that would cap the out-of-pocket cost of insulin at $35 a month for people with group or private health insurance. While the measure still has to face a vote in the Senate, it has broad backing after the cost of insulin has skyrocketed in recent years. How it would work.

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Out of Pocket Cost Insurance Health Insurance Deductions 98