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. That’s why training is essential to ensure that your employees understand how these plans work and how to get the most out of them.

Out of Pocket Cost 82

Out of Pocket Cost Deductions Deductible Voluntary Benefits 82

WEX Inc.

APRIL 25, 2024

High-deductible health plans (HDHPs) have become increasingly popular over the last few years by offering unique features and benefits that appeal to many individuals and families. An HDHP is a type of health plan characterized by its higher deductibles and typically lower premiums compared to traditional health plans.

Health Savings Account 52

Health Savings Account Deductions Deductible Out of Pocket Cost 52

Higginbotham

FEBRUARY 21, 2023

You’re reading your health insurance policy and come across a coinsurance clause. Here’s what you need to know about this common insurance term. This is called cost sharing, and it’s common in many types of insurance. Cost sharing helps insurance companies and policyholders achieve certain goals.

Health Insurance 52

Health Insurance Out of Pocket Cost Insurance Deductions 52

InterWest Insurance Services

MAY 18, 2023

A new study has found that people enrolled in traditional PPOs and HMOs are more satisfied with their plans than those who are enrolled in high-deductible health plans. The sticker shock that comes with paying for those deductibles is likely partly responsible for those feelings. If enrolled three or more years, 55% were satisfied.

Out of Pocket Cost 98

Out of Pocket Cost Health Savings Account Deductions Deductible 98

InterWest Insurance Services

JULY 6, 2023

More and more insurers are expanding the use of telemedicine, just as a new study shows promising cost savings of up to 25% from virtual care when implemented properly. This is good news for patients and employers, who may end up benefiting from lower plan costs, as well as lower out-of-pocket expenses for employees.

Insurance 95

Insurance Out of Pocket Cost Hospitality Health Savings Account 95

InterWest Insurance Services

DECEMBER 28, 2021

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. Hospital indemnity insurance. The worker can use this cash benefit for any purpose, including: Deductibles. even for people with health insurance.

Voluntary Benefits 98

Voluntary Benefits Hospitality Insurance Out of Pocket Cost 98

InterWest Insurance Services

JANUARY 27, 2023

Even if you are providing them with a robust plan, there are often out-of-pocket cost-sharing and deductibles to contend with. For employees in high-deductible health plans, the costs can be steep. Many preventative services are covered with no out-of-pocket cost-sharing, but checkups usually are not.

Out of Pocket Cost 98

Out of Pocket Cost 401(k) Deductions Deductible 98

InterWest Insurance Services

OCTOBER 6, 2022

Most importantly, you want to reach those employees who didn’t sign up last year and stress the importance of health insurance. They may look at a low premium without considering the cost on the back end in terms of a higher deductible and/or other out-of-pocket expenses. Dispensing sage advice.

Out of Pocket Cost 96

Out of Pocket Cost Deductions Deductible Health Insurance 96

InterWest Insurance Services

JANUARY 5, 2023

Despite group health insurance costs expected to rise 5.4% this year, the tight labor market is forcing employers to prioritize enhancing benefits over cost-cutting measures, according to a new report by Mercer. The expected health insurance cost growth of 5.4% Cost-cutting. What employers are doing.

Out of Pocket Cost 92

Out of Pocket Cost Employment Health Insurance Deductions 92

Business Management Daily

APRIL 29, 2024

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. Health & wellness Insurance plans are expensive, especially in the U.S. Matching or exceeding funds for an employee’s HSA is also a fringe benefit.

Out of Pocket Cost 78

Out of Pocket Cost PTO 401(k) Deductions 78

PeopleKeep

JANUARY 18, 2022

For many employers offering a group health insurance plan, adding a supplemental benefit in addition to the group plan can help offset your employees’ out-of-pocket costs. One way to supplement your group health insurance plan is through an integrated HRA, also known as a group coverage HRA (GCHRA).

Out of Pocket Cost 98

Out of Pocket Cost Insurance Carriers Health Insurance Deductions 98

InterWest Insurance Services

JULY 13, 2023

Employers who were surveyed for a new report expected that group health insurance premiums would increase 5.4% this year and at a faster clip in 2024 as inflation hits medical costs. With all that in mind, the report advises that employers will have to prepare for higher premium outlays and be creative in how they try to control costs.

Employment 98

Employment Out of Pocket Cost Health Insurance Health Savings Account 98

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. Typically, the higher the premium on a plan, the lower the employee’s out-of-pocket costs are.

Out of Pocket Cost 93

Out of Pocket Cost Flexible Spending Account Health Savings Account Health Insurance 93

InterWest Insurance Services

MARCH 16, 2023

The poll of 26 health benefits decision-makers at large firms, carried out by The Commonwealth Fund and the Employee Benefits Research Institute (EBRI), found that despite rising premium and health care costs, they felt obligated to offer health insurance instead of shunting employees to exchanges.

Health Insurance 98

Health Insurance Employment Out of Pocket Cost Health Savings Account 98

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

Money Talk

JUNE 29, 2022

In it, I urged a review of tax deductions/credits, tax withholding, budgeting/cash flow, flexible spending accounts, financial goal progress, and investment portfolio status. Insurance Check-Up - While stocks have trended downward so far in 2022, insurance premiums (homeowners, auto, health, etc.) child care, loan) ends.

401(k) 245

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

Higginbotham

NOVEMBER 28, 2022

To contribute to an HSA, you must enroll in a high-deductible health plan. If you have a high-deductible health plan, you must pay the deductible out-of-pocket before the plan starts covering its share of care costs – although the plan may cover certain preventative care costs before you meet the deductible.

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductions Deductible 52

InterWest Insurance Services

JUNE 2, 2023

For the most part, people use their funds in FSAs and HSAs to reimburse themselves for out-of-pocket costs like copays, health insurance deductibles and the cost of prescription medications.

Out of Pocket Cost 98

Out of Pocket Cost Health Savings Account Medical Health Insurance 98

PeopleKeep

OCTOBER 29, 2021

Employers offering a high deductible health plan (HDHP) have several ways to offset the higher out-of-pocket costs and make the benefit more meaningful for employees. One way is to offer a health savings account (HSA) alongside the HDHP.

Out of Pocket Cost 52

Out of Pocket Cost Health Savings Account Health Insurance Deductions 52

PeopleKeep

NOVEMBER 12, 2021

If you’re looking to supplement your organization’s group health insurance plan to help cover your employees’ out-of-pocket costs, you have two main options: Section 105 plans , such as the group coverage HRAs (GCHRAs), and Section 125 cafeteria plans , such as health savings accounts (HSAs).

Health Savings Account 52

Health Savings Account Out of Pocket Cost Health Insurance Deductions 52

CorpStrat

DECEMBER 15, 2022

Health insurance may be one of the most critical annual purchases since it impacts your physical, mental, and financial wellness. Unfortunately, selecting a health insurance plan can feel overwhelming. This article explores six common missteps related to selecting a health insurance plan. Mistake #3: Misunderstanding Costs.

Health Insurance 52

Health Insurance Out of Pocket Cost Deductions Deductible 52

Total Employee Benefits

OCTOBER 15, 2021

A solid benefits broker can help you navigate this transition smoothly by providing expert advice on managing soft costs and making thoughtful decisions when selecting a new benefits provider. The shadow price of a benefit is the opportunity cost associated with that service. What are the soft costs of changing your group medical plan?

Out of Pocket Cost 93

Out of Pocket Cost Medical Deductions Deductible 93

Benefit Resource Inc.

APRIL 20, 2023

If you have a high deductible health plan, which can be paired with an HSA (Health Savings Account), talk to your insurer or employer about any available discounts or incentive programs that may reduce your out-of-pocket costs.

Out of Pocket Cost 83

Out of Pocket Cost Flexible Spending Account Flexible Spending Health Savings Account 83

Insperity

MAY 13, 2015

If you’re shopping for group health insurance for your company the first or second time around, it can be hard to make a confident choice. Not to mention, the Affordable Care Act (ACA) has changed the group health insurance market considerably. The main oversight: Ruling out HSA-qualified plans. Health Savings Accounts.

Health Insurance 83

Health Insurance Insurance Out of Pocket Cost Health Savings Account 83

CorpStrat

FEBRUARY 22, 2023

People are already struggling to pay for the insurance premiums but on top of that, they’re afraid deductibles, prescriptions, and co-insurance might push them into the red. Healthcare costs have risen faster than inflation. Every person has expenses that are not covered by health insurance every year.

Flexible Spending Account 52

Flexible Spending Account Out of Pocket Cost Flexible Spending Deductions 52

Higginbotham

JANUARY 27, 2023

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. However, many small employers decide to offer health insurance anyway. Health insurance matters to employees. Census Bureau says that 54.3

Health Insurance 52

Health Insurance Insurance Benefits Package Out of Pocket Cost 52

AssuredPartners

FEBRUARY 17, 2022

When examining benefit costs over the past three years, even if one took a conservative view the result is that health benefit costs have increased 10% over that period. Without the fringe rate increasing alongside benefit costs, most employees working under an SCA contract have felt the pressure of increased out of pocket expenses.

Health and Welfare 97

Health and Welfare Paid Sick Leave Out of Pocket Cost Government 97

Benefit Resource Inc.

SEPTEMBER 22, 2020

An out of pocket expense is the amount you have to pay after insurance has covered a service. Check out this blog on redefining jargon.). Determining out of pocket expenses can be a bit more difficult. As a starting point, look at your current benefits to determine any co-pay or co-insurance amounts.

Out of Pocket Cost 81

Out of Pocket Cost Deductions Deductible Healthcare 81

Higginbotham

JULY 12, 2022

Even with health insurance, dental insurance and vision insurance, employees tend to end up with some out-of-pocket costs that aren’t covered by their various plans. A benefit reimbursement plan offers a way to cover these costs. They have to pay a deductible. HRAs are owned by the employer.

Out of Pocket Cost 52

Out of Pocket Cost Flexible Spending Account Medical Deductions 52

AssuredPartners

DECEMBER 21, 2020

Actual Cash Value (ACV) is when your insurance company only pays for what your property is worth at the time that you file a claim. It is the cost that you paid for the item minus any depreciation. Potential Real-World Example : A $15,000 roof that is 10 years old and the home policy has a $1,000 deductible.

Out of Pocket Cost 40

Out of Pocket Cost Insurance Carriers Deductions Deductible 40

Benefit Resource Inc.

OCTOBER 17, 2023

HealthLock auditors can negotiate on a BRI customer’s behalf to either lower costs or obtain a reimbursement, as well as verify that the maximum amount based on plan benefits is being applied to a consumer’s out-of-pocket costs and/or deductible.

Medical 52

Medical Out of Pocket Cost Healthcare Banking 52

Insperity

OCTOBER 31, 2017

From employer-sponsored health insurance to retirement savings plans, an attractive benefits package can help you hire the best employees and ensure you retain them for many years to come. Be sure to provide each new hire with: A detailed, printed overview of available benefits and out-of-pocket costs, if any.

Out of Pocket Cost 82

Out of Pocket Cost Disability Insurance Health Insurance Flexible Spending Account 82

Higginbotham

MARCH 28, 2023

A better option than reducing benefits is to learn how to manage employer health care costs. Health Insurance Costs Keep Rising Employers spend significant sums of money on employee health care – and the costs keep rising. Health insurance alone accounts for 7.8 Health insurance costs have been rising.

Health Insurance 52

Health Insurance Employment Management Out of Pocket Cost 52

Genesis HR Solutions

SEPTEMBER 22, 2020

There are four major types of employee benefits many employers offer: medical insurance, life insurance, disability insurance, and retirement plans. Medical Insurance. Medical insurance is likely a no-brainer— it’s one of four major types of benefits most employers offer. Dental Insurance. Vision Insurance.

401(k) 98

401(k) Employee Benefits Disability Insurance roth 401(k) 98

Griffin Benefits

JULY 30, 2021

With over half of today's workforce enrolled in high-deductible health plans (51%), a majority of insured individuals are now on the hook for deductibles of at least $1,400. In doing so, you'll be helping them to become better consumers of healthcare and more satisfied enrollees in high deductible health plans.

Medical 52

Medical Pharmaceutical Deductions Deductible 52

Insperity

MAY 13, 2015

If you’re shopping for group health insurance for your company the first or second time around, it can be hard to make a confident choice. Not to mention, the Affordable Care Act (ACA) has changed the group health insurance market considerably. The main oversight: Ruling out HSA-qualified plans. High-deductible health plans.

Health Insurance 42

Health Insurance Insurance Out of Pocket Cost Health Savings Account 42

Benefit Resource Inc.

JANUARY 3, 2022

The cost of having a baby is no small fee. Even with health insurance, labor and delivery can cost around $5,000, and without insurance, it can be upwards of $40,000. Fortunately, one great way to help with out-of-pocket costs is utilizing a Health Savings Account (HSA).

Taxes 72

Taxes 401(k) Out of Pocket Cost Health Savings Account 72