InterWest Insurance Services
MARCH 7, 2024
HSAs allow your employees to put away funds to pay for future medical expenses. Usually, these accounts are funded with pre-tax deductions from your employees’ paychecks, but if they didn’t max out their contributions last year, they still can do so up until the tax-filing deadline.
InterWest Insurance Services
AUGUST 31, 2023
in 2024, as inflation starts hitting the cost of delivering care as well as pharmaceuticals. Many will require specialized medical care, extensive rehabilitation, advanced medical equipment and potential vehicle and home modifications. However, some pharmaceuticals cost much more. The cost hike is almost double the 4.5%
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Griffin Benefits
JULY 30, 2021
With over half of today's workforce enrolled in high-deductible health plans (51%), a majority of insured individuals are now on the hook for deductibles of at least $1,400. In a future post, we'll offer tips on how to save money on common medical procedures. Please share this information with your workforce.
InterWest Insurance Services
FEBRUARY 8, 2024
This process, called steerage, if executed correctly can save the employee money on their deductibles, copays and coinsurance and help them get better overall care. ” And as new and more expensive pharmaceuticals hit the market, the portion of overall health care costs that goes towards medications will continue to rise.
InterWest Insurance Services
DECEMBER 7, 2023
Earlier in 2023, the IRS also announced the maximum contribution limits to health savings accounts, which are similar to FSAs, but they must be attached to a high-deductible health plan. The annual limits on HSA contributions in 2024 are $3,850 for individuals and $8,300 for families, both up more than 7% from 2023’s limits.
Griffin Benefits
JULY 5, 2023
Employers of every size continue to struggle with the rising costs of healthcare, which ultimately increases the cost of medical premiums for everyone. In fact, after raising the prices of more than 1,400 prescription drugs in 2022, pharmaceutical companies started 2023 off with a 5% increase for more than 450 medications.
HR Digest
SEPTEMBER 16, 2023
The prices of new treatments and medications are also cited as major contributors to the rising cost projections. Pharmaceutical companies and researchers insist that costs have to remain high for the production and further research to be viable. Latest new-generation gene therapy treatments have been reported as priced upwards of $2.1
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