InterWest Insurance Services

NOVEMBER 10, 2022

One of the most difficult aspects of annual open enrollment is reaching workers who are disengaged from the process and never bother signing up for your group health plan and other benefits they could take advantage of. Young workers will often forgo their employer’s health plan as they are still covered by their parents’ plans.

401(k) 96

401(k) Health Savings Account Health Insurance Insurance 96

Higginbotham

JULY 12, 2022

For example: In an individual coverage health reimbursement arrangement, the health reimbursement arrangement is offered in place of a group health plan, allowing employees to purchase a health plan on their own. Healthcare.gov says that employees must be enrolled in individual health plans, such as a Marketplace plan, to use the funds.

Out of Pocket Cost 52

Out of Pocket Cost Flexible Spending Account Medical Deductions 52

Fringe Benefit Analysts

AUGUST 15, 2022

Many receive this coverage as a benefit of their employment. Employers who do not offer coverage can have a more difficult time attracting recruits and retaining employees. All members contribute to the plan, as well as the employer, to help reduce health care costs for every member. Read on for a thorough overview.

Insurance 52

Insurance Health Insurance IT Deductions 52

Business Management Daily

NOVEMBER 15, 2021

Open enrollment is underway for many companies right now and one benefits offering that may be on the menu this year is an FSA. Employers are constantly looking for ways to remain competitive in their benefits offerings, and an FSA is a great add-on to your benefits package. Copays, co-insurance, and deductibles for medical care.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Medical Healthcare 98

Business Management Daily

NOVEMBER 30, 2021

Flexible spending accounts (FSAs) are employer-established accounts that allow you to put aside pre-tax dollars from your paycheck into a special account to be used for eligible health or dependent care expenses. The card is issued by the benefits provider that the employer has chosen to work with for the FSA.

Retail 52

Retail Healthcare Medical Flexible Spending Account 52

HR Professionals Magazine

MAY 4, 2023

A 2022 Harris poll found that 72% of employees said “they wish someone would tell them what the best health insurance for their unique situation is.” AI Enabled Benefits Education According to a recent study by the Hartford, “76% of employers say educating employees about benefits” remains challenging.

Technology 52

Technology Utilities Payroll Deductions 52

Corporate Synergies

AUGUST 6, 2018

Health savings accounts can be a good deal for employees. High deductible health plans (HDHPs) are on the rise as a growing number of employers turn to consumer-directed health plans to try to curb costs—the portion of employees enrolled in HDHPs rose from 26.3% But do they really understand HSA value?

401(k) 40

401(k) Health Savings Account Retirement Plan Deductions 40

Benefit Resource Inc.

DECEMBER 10, 2021

However, it highlights the need to use multiple communication channels – especially when it comes to Open Enrollment. We conducted a survey earlier this year to evaluate how employers planned to communicate during Open Enrollment. Most employers have access to these communication methods already, so there’s no additional cost.

Payroll 40

Payroll Employee Enrollments Deductions Deductible 40

WEX Inc.

JULY 20, 2023

In the first post of this year’s open enrollment series, we break down some of the common feedback we received from those who said their benefits options were lacking so you can build the best benefits package going into your open enrollment. Specific responses included: “A lower deductible or copay options would be an improvement.”

Deductions 75

Deductions Deductible Flexible Spending Account Health Savings Account 75

AssuredPartners

JUNE 5, 2018

While many employers now offer consumer-driven plans, uptake by employees isn’t phenomenal with only around a third of eligible employees enrolled in a CDHP.nSo what’s going wrong? For context, that is more than a quarter of people aged 19-64.nSo nSo why is this such a problem?

Healthcare 40

Healthcare Deductions Deductible Insurance 40

InterWest Insurance Services

MARCH 7, 2024

If you have staff with health savings accounts, they still have until April 15 to make additional contributions to their accounts if they want to reduce their tax bills for last year. HSAs allow your employees to put away funds to pay for future medical expenses. Withdrawals to reimburse for these expenses are also not taxed.

401(k) 98

401(k) Health Savings Account Pharmaceutical Deductions 98

Benefit Resource Inc.

AUGUST 13, 2019

The term “high deductible health plan” has often carried with it a negative connotation for employees. According to a recent article from SHRM covering research from the Employees Benefit Research Institute (EBRI), enrollment in an HDHP promotes more conscious health care purchase decisions. Like this blog?

Deductions 45

Deductions Deductible Health Savings Account Employee Enrollments 45

Business Management Daily

SEPTEMBER 9, 2021

FSAs are primarily funded by employees through pretax deductions, although employers may make contributions. Tax advantage: Employees’ and employers’ contributions are excluded from employees’ wages and aren’t subject to income or FICA taxes. Most FSAs are offered through cafeteria plans.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Employment Flexible Spending 52

PeopleStrategy

NOVEMBER 12, 2019

Assessing open enrollment and employees’ overall involvement in benefit offerings should be a big part of any year-end HR checklist. Obviously you and the providers you select for your benefit offerings need to know how many employees enroll in each plan. According to attorney Robert Y. Payroll compliance checks.

Overtime 56

Overtime Payroll Employee Enrollments Deductions 56