InterWest Insurance Services

JUNE 22, 2023

market, in March 2023 announced that they will cap the cost of insulin for people with private insurance plans. That includes those on employer-sponsored group health plans and plans purchased on a government-run exchange. Three drugmakers, which account for roughly 90% of the insulin in the U.S. for a single vial and $139.71

Insurance 94

Insurance Out of Pocket Cost Pharmaceutical Deductions 94

InterWest Insurance Services

JANUARY 18, 2024

With more than half of all private sector employees enrolled in high-deductible health plans , it’s important that employers have in place certain protocols to ensure that they are a success. That’s why training is essential to ensure that your employees understand how these plans work and how to get the most out of them.

Out of Pocket Cost 74

Out of Pocket Cost Deductions Deductible Voluntary Benefits 74

InterWest Insurance Services

DECEMBER 28, 2021

For example, even with insurance, treating a broken leg or undergoing emergency appendicitis surgery can mean thousands of dollars in out-of-pocket medical costs. Hospital indemnity insurance. The worker can use this cash benefit for any purpose, including: Deductibles. even for people with health insurance.

Voluntary Benefits 98

Voluntary Benefits Hospitality Insurance Out of Pocket Cost 98

InterWest Insurance Services

AUGUST 22, 2023

If you are running a business, you need to get an early start on preparations for your small group health plan open enrollment, particularly now as so much confusion abounds about the state of health insurance in the country. Going out of network is discouraged with high out-of-pocket costs.

Family and Medical Leave Act 98

Family and Medical Leave Act Out of Pocket Cost Deductions Deductible 98

InterWest Insurance Services

MAY 4, 2023

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.

Insurance 76

Insurance Out of Pocket Cost Insurance Carriers Health Insurance 76

InterWest Insurance Services

AUGUST 1, 2023

If you are running a business, you need to get an early start on preparations for your small group health plan open enrollment, particularly now as so much confusion abounds about the state of health insurance in the country. Going out of network is discouraged with high out-of-pocket costs.

Family and Medical Leave Act 98

Family and Medical Leave Act Out of Pocket Cost Deductions Deductible 98

InterWest Insurance Services

MAY 18, 2023

A new study has found that people enrolled in traditional PPOs and HMOs are more satisfied with their plans than those who are enrolled in high-deductible health plans. The sticker shock that comes with paying for those deductibles is likely partly responsible for those feelings.

Out of Pocket Cost 98

Out of Pocket Cost Health Savings Account Deductions Deductible 98

Stratus.HR

JUNE 11, 2021

High Deductible Health Plans (HDHP) and Health Savings Accounts (HSA) are growing more and more popular each year. Considering they have lower premiums and provide the ability to use pre-tax dollars to pay for out-of-pocket costs, what’s not to love? HSA as a Retirement Account. Do Your Homework.

Deductions 76

Deductions Deductible Out of Pocket Cost Health Savings Account 76

PeopleKeep

JANUARY 18, 2022

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).

Out of Pocket Cost 98

Out of Pocket Cost Insurance Carriers Health Insurance Deductions 98

InterWest Insurance Services

MARCH 16, 2023

The poll of 26 health benefits decision-makers at large firms, carried out by The Commonwealth Fund and the Employee Benefits Research Institute (EBRI), found that despite rising premium and health care costs, they felt obligated to offer health insurance instead of shunting employees to exchanges.

Health Insurance 98

Health Insurance Employment Out of Pocket Cost Health Savings Account 98

InterWest Insurance Services

JULY 13, 2023

Employers who were surveyed for a new report expected that group health insurance premiums would increase 5.4% this year and at a faster clip in 2024 as inflation hits medical costs. 24% said they would up employee cost-sharing, but by less than the projected increase. copay plan). copay plan).

Employment 98

Employment Out of Pocket Cost Health Insurance Health Savings Account 98

InterWest Insurance Services

JANUARY 27, 2023

Even if you are providing them with a robust plan, there are often out-of-pocket cost-sharing and deductibles to contend with. For employees in high-deductible health plans, the costs can be steep. Many preventative services are covered with no out-of-pocket cost-sharing, but checkups usually are not.

Out of Pocket Cost 97

Out of Pocket Cost 401(k) Deductions Deductible 97

InterWest Insurance Services

JANUARY 5, 2023

Despite group health insurance costs expected to rise 5.4% this year, the tight labor market is forcing employers to prioritize enhancing benefits over cost-cutting measures, according to a new report by Mercer. The expected health insurance cost growth of 5.4% Cost-cutting.

Out of Pocket Cost 89

Out of Pocket Cost Employment Health Insurance Deductions 89

InterWest Insurance Services

MAY 9, 2022

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.

Out of Pocket Cost 98

Out of Pocket Cost Health Insurance Insurance Carriers Hospitality 98

InterWest Insurance Services

MARCH 4, 2022

As rising health insurance premiums and out-of-pocket costs for health care are burdening workers, more employers are looking for ways to help their staff put aside money for those expenses. Fortunately, there is another option: a health reimbursement arrangement (HRA). Qualified medical expenses.

Medical 98

Medical Health Insurance Out of Pocket Cost Deductions 98

InterWest Insurance Services

OCTOBER 6, 2022

Most importantly, you want to reach those employees who didn’t sign up last year and stress the importance of health insurance. They may look at a low premium without considering the cost on the back end in terms of a higher deductible and/or other out-of-pocket expenses. Dispensing sage advice.

Out of Pocket Cost 96

Out of Pocket Cost Deductions Deductible Health Insurance 96

Insperity

MAY 13, 2015

If you’re shopping for group health insurance for your company the first or second time around, it can be hard to make a confident choice. Not to mention, the Affordable Care Act (ACA) has changed the group health insurance market considerably. The main oversight: Ruling out HSA-qualified plans.

Health Insurance 83

Health Insurance Insurance Out of Pocket Cost Health Savings Account 83

Money Talk

JUNE 29, 2022

In it, I urged a review of tax deductions/credits, tax withholding, budgeting/cash flow, flexible spending accounts, financial goal progress, and investment portfolio status. Insurance Check-Up - While stocks have trended downward so far in 2022, insurance premiums (homeowners, auto, health, etc.) child care, loan) ends.

401(k) 245

401(k) Out of Pocket Cost Finance Flexible Spending Account 245

InterWest Insurance Services

JANUARY 26, 2022

Nearly 40% of employers surveyed by the Kaiser Family Foundation in November 2021 said that they had made changes to their mental health and substance abuse benefits since the pandemic started. Health care affordability also correlates to sacrifices in care, including mental health care. The Centivo report found that: S.

Out of Pocket Cost 98

Out of Pocket Cost Deductions Deductible Flexible Spending Account 98

InterWest Insurance Services

SEPTEMBER 27, 2023

It’s almost time for group health insurance open enrollment and your top priority should be to drive participation by helping your employees make informed decisions about their options. Typically, the higher the premium on a plan, the lower the employee’s out-of-pocket costs are.

Out of Pocket Cost 91

Out of Pocket Cost Flexible Spending Account Health Savings Account Health Insurance 91

Business Management Daily

APRIL 29, 2024

Different benefits appeal to different teams, but what matters most is providing more than just the bare minimum—health insurance, workers’ compensation, and a competitive salary. Health & wellness Insurance plans are expensive, especially in the U.S. Let IRS Publication 15-B be your tax guide to fringe benefits.

Out of Pocket Cost 78

Out of Pocket Cost PTO 401(k) Deductions 78

InterWest Insurance Services

JUNE 2, 2023

Employers offer flexible savings accounts and health savings accounts to their employees so they can build up funds with pre-tax dollars to pay for health care and related expenses.

Out of Pocket Cost 98

Out of Pocket Cost Health Savings Account Medical Health Insurance 98

PeopleKeep

NOVEMBER 12, 2021

If you’re looking to supplement your organization’s group health insurance plan to help cover your employees’ out-of-pocket costs, you have two main options: Section 105 plans , such as the group coverage HRAs (GCHRAs), and Section 125 cafeteria plans , such as health savings accounts (HSAs).

Health Savings Account 52

Health Savings Account Out of Pocket Cost Health Insurance Deductions 52

CorpStrat

DECEMBER 15, 2022

Health insurance may be one of the most critical annual purchases since it impacts your physical, mental, and financial wellness. Unfortunately, selecting a health insurance plan can feel overwhelming. This article explores six common missteps related to selecting a health insurance plan.

Health Insurance 52

Health Insurance Out of Pocket Cost Deductions Deductible 52

PeopleKeep

OCTOBER 29, 2021

Employers offering a high deductible health plan (HDHP) have several ways to offset the higher out-of-pocket costs and make the benefit more meaningful for employees. One way is to offer a health savings account (HSA) alongside the HDHP.

Out of Pocket Cost 52

Out of Pocket Cost Health Savings Account Health Insurance Deductions 52

Higginbotham

OCTOBER 14, 2022

Health Insurance for Small Business. Under the ACA, small employers with fewer than 50 full-time equivalent employees are not required to offer health insurance or subject to the employer shared responsibility provisions. However, many small business owners offer health insurance coverage anyway.

Employee Benefits 52

Employee Benefits Family and Medical Leave Act Disability Insurance Paid Sick Leave 52

Higginbotham

NOVEMBER 28, 2022

To contribute to an HSA, you must enroll in a high-deductible health plan. If you switch to a different type of health plan, you can keep your HSA and continue to use the funds, but you cannot make any more HSA contributions. Certain other health care-related expenses may also qualify. What are qualified medical expenses?

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductions Deductible 52

Insperity

MAY 13, 2015

If you’re shopping for group health insurance for your company the first or second time around, it can be hard to make a confident choice. Not to mention, the Affordable Care Act (ACA) has changed the group health insurance market considerably. The main oversight: Ruling out HSA-qualified plans.

Health Insurance 42

Health Insurance Insurance Out of Pocket Cost Health Savings Account 42

Higginbotham

MARCH 28, 2023

A better option than reducing benefits is to learn how to manage employer health care costs. Health Insurance Costs Keep Rising Employers spend significant sums of money on employee health care – and the costs keep rising. Health insurance alone accounts for 7.8 Only $28.88 was benefits.

Health Insurance 52

Health Insurance Employment Management Out of Pocket Cost 52

CorpStrat

FEBRUARY 22, 2023

People are already struggling to pay for the insurance premiums but on top of that, they’re afraid deductibles, prescriptions, and co-insurance might push them into the red. Healthcare costs have risen faster than inflation. Every person has expenses that are not covered by health insurance every year.

Flexible Spending Account 52

Flexible Spending Account Out of Pocket Cost Flexible Spending Deductions 52

AssuredPartners

FEBRUARY 17, 2022

When examining benefit costs over the past three years, even if one took a conservative view the result is that health benefit costs have increased 10% over that period. When benefits are an expected perk and are in high demand, a high out of pocket cost translates into a less attractive offering overall.

Health and Welfare 97

Health and Welfare Paid Sick Leave Out of Pocket Cost Government 97

Insperity

OCTOBER 31, 2017

From employer-sponsored health insurance to retirement savings plans, an attractive benefits package can help you hire the best employees and ensure you retain them for many years to come. Be sure to provide each new hire with: A detailed, printed overview of available benefits and out-of-pocket costs, if any.

Out of Pocket Cost 82

Out of Pocket Cost Disability Insurance Health Insurance Flexible Spending Account 82

Higginbotham

JULY 12, 2022

This may be a good option for employers that want to simplify their health plan administration while giving employees flexibility. Integrated health reimbursement arrangements are designed to work with the group health plan. A benefit reimbursement plan offers a way to cover these costs. They have to pay a deductible.

Out of Pocket Cost 52

Out of Pocket Cost Flexible Spending Account Medical Deductions 52

Best Money Moves

OCTOBER 16, 2019

Being more knowledgeable about health insurance benefits will help them enroll in the plan that’s right for them. What can employers do to help employees better understand how different health insurance plans affect out-of-pocket costs for healthcare? Call a representative from the insurance broker?

Out of Pocket Cost 45

Out of Pocket Cost Health Insurance Healthcare Insurance 45

Genesis HR Solutions

SEPTEMBER 22, 2020

There are four major types of employee benefits many employers offer: medical insurance, life insurance, disability insurance, and retirement plans. Medical Insurance. Medical insurance is likely a no-brainer— it’s one of four major types of benefits most employers offer. Dental Insurance. Vision Insurance.

401(k) 98

401(k) Employee Benefits Disability Insurance roth 401(k) 98

Benefit Resource Inc.

JANUARY 3, 2022

The cost of having a baby is no small fee. Even with health insurance, labor and delivery can cost around $5,000, and without insurance, it can be upwards of $40,000. Fortunately, one great way to help with out-of-pocket costs is utilizing a Health Savings Account (HSA).

Taxes 72

Taxes 401(k) Out of Pocket Cost Health Savings Account 72

Best Money Moves

JULY 8, 2020

3 Health Insurance Benefits. Nearly 60 percent said they wouldn’t have been able to afford the cost of care otherwise. Pet perks include allowing employees to bring pets to work, offering pet insurance or paid time off for new pet owners. . #10 4 Paid Time Off. 9 Pet-Friendly Employee Benefits.

Employee Benefits 106

Employee Benefits Out of Pocket Cost Flexible Spending Account Health Insurance 106