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Why your integrated HRA shouldn't be tied to one carrier

PeopleKeep

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).

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How Your Employees Can Get Free COVID Test Kits

InterWest Insurance Services

But for employees in your group health plan, they have many options for obtaining a test with no out-of-pocket costs. Under an executive order issued by President Biden, employees in a group health plan are eligible to receive COVID-19 at-home test kits with no cost-sharing, copay, coinsurance or deductible.

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Insurers Promise to Keep Covering Preventative Services

InterWest Insurance Services

Most health insurers plan to continue offering free preventative care services despite a federal judge having imposed a nationwide injunction on an Affordable Care Act requirement that these services are covered with no out-of-pocket costs on the part of patients, according to a letter by industry trade groups.

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Understanding Actual Cash Value vs Replacement Cost

AssuredPartners

It is the cost that you paid for the item minus any depreciation. This means at the time of a claim, the settlement from an insurance carrier traditionally will payout less than what it costs to replace the current item. Actual cash value is the price or value your item could be sold for today.

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New Transparency Requirements for Health Plans

AssuredPartners

This rule, entitled Transparency in Coverage, requires group health insurance carriers and self-insured plans to disclose rates and cost-sharing information for all covered items and services. Insurance cards must include in-network and out-of-network deductibles and out-of-pocket maximums.

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Benefits Advocate: The Secret to Healthcare Literacy and Cost Control

Corporate Synergies

Rather than reaching out to an insurance carrier first, whose issue resolution success is measured based on the call time, employees contact their benefits advocate. This expert is trained to answer questions, deal with insurance claims and support employees on their medical journey.

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How Health Care Reform Helps People and Small Businesses Pay for Coverage

Insperity

So we’ve got premiums under control, but what about deductibles, copayments and other out-of-pocket costs? Cost-sharing subsidies help individuals and families reduce out-of-pocket medical expenses by raising the actuarial value of the aforementioned silver-level plan from 70 percent to as high as 94 percent.