Remove Deductible Remove Flexible Spending Remove Health Savings Account Remove Voluntary Benefits
article thumbnail

Identify Your Workers’ Needs, Consider Costs before Open Enrollment

InterWest Insurance Services

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. The lower the premium on the plan, the higher the deductibles and copays. Get an early start If your plan year starts Jan.

article thumbnail

How to offer health insurance as a small business

Higginbotham

You can choose to pay all or part of the premium, and you can even offer some benefits, like pet insurance , on a voluntary basis so it’s available at an affordable group rate for employees to purchase if they are interested. Voluntary benefits can be offered with little to no out-of-pocket expense to the employer.