InterWest Insurance Services

JANUARY 17, 2023

If you plan to discontinue coverage for employees who are turning 65, you should communicate with them well ahead of the time they need to sign up for Medicare. How it works: Let’s say your employee has foot surgery: Medicare pays first up to the limits of its coverage. Discontinuing group health coverage.

Health Insurance 97

Health Insurance Insurance Health Savings Account Hospitality 97

Benefit Resource Inc.

JUNE 1, 2023

” Although rising premium rates are an on-going challenge for employers, a primary (and popular) method to overcome this is to implement a high-deductible health plan (HDHP). Overcoming the Challenge Implement an HDHP with Complementary Accounts A growing number of employers have implemented an HDHP as a choice for employees.

Flexible Spending Account 52

Flexible Spending Account Healthcare Health Savings Account Deductions 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. Also consider that one in three employees are uncertain about their ability to cover future health care expenses.

401(k) 96

401(k) Health Savings Account Health Insurance Insurance 96

HR Professionals Magazine

APRIL 4, 2022

That fee can vary based on many factors and may come in the form of a one-time “setup charge”, a PEPM (per employee per month) or a flat, recurring monthly fee. Similarly, you’ll want to know if deduction information flows in both directions, or if it only flows from the ben admin system to the payroll system via the API.

Payroll 52

Payroll Payroll System Deductions Deductible 52

HR Professionals Magazine

MAY 4, 2023

By Kisha Moliere It is common to think of benefits administration technology (ben admin) platforms as a tool that only facilitates employee benefits enrollment and transfers benefits eligibility data between carrier and payroll systems. Be mindful that not all decision support tools are created equal.

Technology 52

Technology Utilities Payroll Deductions 52

Business Management Daily

SEPTEMBER 27, 2019

An ounce of prevention may be worth a pound of cure, but up until this point, high-deductible health plans have been boxed in regarding tax-free reimbursements for most preventive care services or items. Reason: With certain exceptions, HDHPs can’t start reimbursing employees until they meet those high deductibles.

Health Savings Account 40

Health Savings Account Deductions Deductible Flexible Spending Account 40

Higginbotham

JULY 12, 2022

In the simplest terms, a medical expense reimbursement plan refunds employees for covered medical costs. Employees may face uncovered costs in numerous ways: They have to pay a share of the premium for insurance. They have to pay a deductible. Make sure employees know about the plan and remind them to use their benefits.

Out of Pocket Cost 52

Out of Pocket Cost Flexible Spending Account Medical Deductions 52

Business Management Daily

NOVEMBER 15, 2021

Many employees are coming to the end of the year and realizing that they still have a lot of money in their FSA accounts that they need to spend. They may also be questioning whether they have a need for an FSA and if so, how much they should choose to have deducted each month. Copays, co-insurance, and deductibles for medical care.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Medical Healthcare 98

HR Digest

DECEMBER 17, 2019

This agreement takes place when the new employee joins the company and gives his consent to the compensation letter wherein the declaration about the remuneration and benefits associated with the job positions are clearly stated. The benefits will be equitably offered to all the employees.

Paid Vacation 64

Paid Vacation Overtime Health Insurance Insurance 64

Business Management Daily

NOVEMBER 30, 2021

The Internal Revenue Service (IRS) states that if the use of these provider cards meets certain substantiation methods, the employee may not have to provide additional information to the health FSA provider including receipts. Employees may not seek FSA reimbursement for costs that will be reimbursed by their health plan.

Retail 52

Retail Healthcare Medical Flexible Spending Account 52

Corporate Synergies

AUGUST 6, 2018

Health savings accounts can be a good deal for employees. High deductible health plans (HDHPs) are on the rise as a growing number of employers turn to consumer-directed health plans to try to curb costs—the portion of employees enrolled in HDHPs rose from 26.3% Your Employees Still Don’t Understand HDHP and HSA Value.

401(k) 40

401(k) Health Savings Account Retirement Plan Deductions 40

Benefit Resource Inc.

DECEMBER 10, 2021

However, it highlights the need to use multiple communication channels – especially when it comes to Open Enrollment. However, it highlights the need to use multiple communication channels – especially when it comes to Open Enrollment. Recruitment -> Employee Retention. Likely, it means having to learn to do more with less.

Payroll 40

Payroll Employee Enrollments Deductions Deductible 40

Winston Benefits

FEBRUARY 21, 2018

Your employees make a lot of decisions during their work day, but one of the most important decisions they’ll make comes once a year: what to do about their employee benefits. Tech-based tools can make it easier for employees to plan, budget and plug the gaps in their insurance needs. Decision tools on the enrollment portal.

Life Insurance 45

Life Insurance Employee Enrollments Deductions Deductible 45

Winston Benefits

MARCH 8, 2018

If employees requested more communication or decision-support tools on your enrollment portal, they might be disappointed and discouraged if they don’t see any updates. Even just updating your enrollment booklet online and adding new FAQs can be a tremendous help to your employee population. What If We Add New Benefits?

Technology 45

Technology Health Savings Account Voluntary Benefits Employee Enrollments 45

Winston Benefits

MAY 15, 2018

However, the benefits enrollment process can be tedious for HR, and both tedious and confusing for employees. Benefits enrollment technology can streamline this process, making it more efficient and less cumbersome for everyone. What do you need to know about benefits enrollment technology to make the right choice?

Technology 45

Technology Employee Enrollments Deductions Deductible 45

WEX Inc.

JULY 20, 2023

In the first post of this year’s open enrollment series, we break down some of the common feedback we received from those who said their benefits options were lacking so you can build the best benefits package going into your open enrollment. Specific responses included: “A lower deductible or copay options would be an improvement.”

Deductions 75

Deductions Deductible Flexible Spending Account Health Savings Account 75

AssuredPartners

JUNE 5, 2018

While many employers now offer consumer-driven plans, uptake by employees isn’t phenomenal with only around a third of eligible employees enrolled in a CDHP.nSo what’s going wrong?nn"},{"attributes":{"bold":true},"insert":"Barriers For context, that is more than a quarter of people aged 19-64.nSo nSo why is this such a problem?

Healthcare 40

Healthcare Deductions Deductible Insurance 40

Insperity

NOVEMBER 24, 2014

A side-by-side comparison of premiums, contributions and/or deductibles for each option. An explanation of any changes from the previous year and any actions your employees may need to take. From there, create a communication schedule to remind employees of the benefits enrollment period. Take advantage of technology.

Insurance 78

Insurance Employee Enrollments Hospitality Deductions 78

Benefit Resource Inc.

AUGUST 13, 2019

The term “high deductible health plan” has often carried with it a negative connotation for employees. According to a recent article from SHRM covering research from the Employees Benefit Research Institute (EBRI), enrollment in an HDHP promotes more conscious health care purchase decisions. Like this blog?

Deductions 45

Deductions Deductible Health Savings Account Employee Enrollments 45

Insperity

NOVEMBER 24, 2014

A side-by-side comparison of premiums, contributions and/or deductibles for each option. An explanation of any changes from the previous year and any actions your employees may need to take. From there, create a communication schedule to remind employees of the benefits enrollment period.

Insurance 40

Insurance Employee Enrollments Hospitality Deductions 40

InterWest Insurance Services

MARCH 1, 2024

Multiple studies have consistently shown that a robust set of employee benefits is a vital component of an overall compensation package. As a result, many employers are increasingly turning to voluntary employee benefits, which allow them to provide valued, high-demand benefits to employees at little or no cost to the company.

Voluntary Benefits 98

Voluntary Benefits Disability Insurance Deductions Deductible 98

HR Digest

APRIL 2, 2024

Employees can then expand those funds on a selected category and reap the benefits of working at a generous organization. Health-related expenses are regulated by the Affordable Care Act (ACA), and they need to be integrated into a high-deductible health plan (HDHP) to be considered valid.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Medical Flexible Spending 52

HR Lineup

OCTOBER 18, 2023

Benefits administration is a critical component of human resources management, and it plays a significant role in ensuring that employees receive the compensation and benefits they deserve. This platform simplifies benefits enrollment, tracks employee contributions, and ensures compliance with regulations.

Software 79

Software Retirement Plan Health Insurance Payroll 79

Business Management Daily

SEPTEMBER 9, 2021

FSAs are primarily funded by employees through pretax deductions, although employers may make contributions. Tax advantage: Employees’ and employers’ contributions are excluded from employees’ wages and aren’t subject to income or FICA taxes. Employees usually contribute to HSAs on a pretax basis.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Employment Flexible Spending 52

PeopleStrategy

NOVEMBER 12, 2019

Throw open enrollment into the mix and your HR department has its work cut out from now until year-end (and beyond). Here are a few areas you want to be sure to include on your checklist: Addressing open enrollment and benefit plan participation. I-9s and employee authorization. According to attorney Robert Y.

Overtime 56

Overtime Payroll Employee Enrollments Deductions 56