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Are Level Funded Health Plans Your New Benefits Alternative?

PeopleStrategy

HR departments are charged not only with finding employees comprehensive and affordable benefits including health insurance coverage, but also watching their part of the overall company bottom line. This amount is calculated based on the employees’ expected healthcare costs, administrative fees, and a stop-loss insurance component.

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Best practices to avoid receipt requests

Benefit Resource Inc.

Pay for all the eligible medical items first with your pre-tax benefits card. Confirm enrollment in a health plan To receive automatic approval for co-pays, certain co-insurance, and deductible expenses, make sure your employer has reported you as enrolled in the company health plan. Why is it required?

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Illness or Injury: How Your Business Can Protect Your Employees

InterWest Insurance Services

You as an employer can help by offering group disability insurance to your employees. This insurance helps replace a portion of a worker’s income if they lose their income due to an injury or illness. Tax-deductible premiums. No prior year tax returns or income verification are required. What it covers.

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2022 Health Insurance Outlook, Changes

InterWest Insurance Services

HDHP telehealth services — The CARES Act, signed into law in 2020 after the pandemic started, temporarily allowed high-deductible health plans to pay for telehealth services before an enrollee had met their deductible. 1, 2022, HDHPs must charge enrollees for telehealth services if they have not yet met their deductible. .

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Taxation of Identity Protection Services

Fringe Benefit Analysts

Some insurance carriers are now also offering identity protection services to their customers at no additional cost. Plus, the best services offer identity theft insurance, adding another layer of protection against monetary loss. Are Identity Theft Protection Services Tax Deductible?

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What Is an Employee Benefits Consultant and What Do They Do?

Fringe Benefit Analysts

These independent contractors advise employers and other sponsors of insurance plans, so they can research and choose the best plans for both the company and its employees. Of course, in the end, a credible CPA is always the best resource when it comes to tax planning.

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Understanding the cost of employee benefits & what it means for your company

Genesis HR Solutions

Insurance types: Medical, dental, vision, disability, and life insurance plans. Tax-preferred plans: Health flexible spending accounts, health savings accounts, health reimbursement accounts, transportation accounts, and more. Deductions must be set up in payroll and carrier invoices must be paid each month.