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Are Level Funded Health Plans Your New Benefits Alternative?

PeopleStrategy

They are a hybrid approach to providing healthcare coverage that combines elements of traditional fully-insured plans with those of self-funded plans. With a level funded plan, your business pays a fixed monthly amount (a level fee, similar to a premium) to an insurance carrier or third-party administrator.

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Illness or Injury: How Your Business Can Protect Your Employees

InterWest Insurance Services

Tax-deductible premiums. Advantages of group disability insurance to the worker include the following: Affordability. No prior year tax returns or income verification are required. The employer reports income information to the disability insurance carrier. Easy, streamlined administration. List billing.

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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.

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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. Are Identity Theft Protection Services Tax Deductible? If you’re a small business owner interested in this service, it makes sense to fully understand it and the tax implications that it may present.

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

Fringe Benefit Analysts

Benefits consultants are also aware of federal and state laws that regulate group health insurance and retirement plans, and how to correctly report all benefits packages to the IRS. Of course, in the end, a credible CPA is always the best resource when it comes to tax planning.

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

Insperity

Most Americans must have health insurance or face a tax penalty. That help comes in two forms: premium tax credits and cost-sharing subsidies. And finally, you’re not eligible if you file a “Married Filing Separately” tax return, or if you are claimed as a dependent by another person. Why should you care?