InterWest Insurance Services

AUGUST 18, 2022

.” Employees cannot change their minds and make changes to pre-tax cafeteria elections during the plan year, once benefits become effective — unless a special enrollment period as defined under IRC Section 125 applies , or the employer is correcting an administrative error. This is not correct.

Insurance Carriers 96

Insurance Carriers Taxes Health Insurance Employee Enrollments 96

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. Turning 26 — This is the age that individuals are no longer allowed to be covered by their parents’ health insurance.

401(k) 97

401(k) Health Savings Account Health Insurance Insurance 97

Proskauer's Employee Benefits & Executive Compensa

JANUARY 4, 2023

The Internal Revenue Code (the “Code”) requires insurance companies, self-insured plans, and applicable large employers (“ALEs,” generally those with 50+ full-time or full-time equivalent employees) to file annual statements with the IRS (via Forms 1094-B and 1094-C for insurance providers and ALEs, respectively).

Insurance 105

Insurance Employee Enrollments Taxes Consulting 105

BerniePortal

JUNE 23, 2021

Changing life events in the middle of the year usually means changes to your health insurance plan. If an employee enrolls in a high-deductible health plan (HDHP) mid-year, how does that affect the amount they can contribute to their health savings account (HSA)?

Health Savings Account 64

Health Savings Account Health Insurance Employee Enrollments Deductions 64

AssuredPartners

FEBRUARY 14, 2023

It’s imperative to use actuarial software to identify inefficiencies within a health plan’s pricing and employee contribution structure, which often reveals downside financial risk based solely on employee enrollment patterns.

Employee Benefits 59

Employee Benefits Health and Welfare Employee Enrollments Healthcare 59

InterWest Insurance Services

JANUARY 20, 2022

One of the health insurance trends that went largely unnoticed in 2021 was that employers halted cost-shifting to their employees by reducing or holding steady workers’ deductibles and other cost-sharing. Among small employers, the median individual deductible in HDHPs stayed steady at $2,800.

Employment 98

Employment Deductions Deductible Health Insurance 98

AssuredPartners

OCTOBER 13, 2022

125 Plan (other than a Flexible Spending Arrangement (FSA)) are permitted to revoke or modify an existing election for family coverage during a plan year in order for one or more family members to enroll in a Qualified Health Plan (QHP) through a Health Insurance Exchange on the individual market.

Health Insurance 98

Health Insurance Benefit Providers Flexible Spending Insurance 98

HR Lineup

FEBRUARY 22, 2023

This module enables HR teams to track employee benefits, including health insurance, retirement plans, and other perks. Users can set up benefit plans, define eligibility criteria, and track employee enrollment and contributions.

Human Resources 52

Human Resources Retirement Plan Bonuses Health Insurance 52

Benefit Resource Inc.

JUNE 1, 2023

If employees enroll in a Limited FSA they have the option to forgo enrolling in vision or dental insurance, avoiding the need to pay those premiums. In the end, employees walk away with lower premiums and two pre-tax accounts to keep even more money in their pockets.

Flexible Spending Account 52

Flexible Spending Account Healthcare Health Savings Account Deductions 52

HR Digest

DECEMBER 17, 2019

Health Insurance: The workers will be entitled to enroll with the comprehensive health plan which will help them overcome the future financial assistance that may arise due to an unknown event or accident that harms their health or body. The benefits will be equitably offered to all the employees.

Paid Vacation 64

Paid Vacation Overtime Health Insurance Insurance 64

Proskauer's Employee Benefits & Executive Compensa

JANUARY 6, 2022

While the proposed regulations technically would become effective for coverage in calendar years beginning January 1, 2022, the IRS has indicated that reporting entities may rely on them starting with the reports due for 2021 (provided to covered individuals and employees in 2022). Background on Required ACA Forms.

Electronics 52

Electronics Insurance Employee Enrollments Taxes 52

HR Professionals Magazine

MAY 4, 2023

Decision Support Think your employees aren’t interested in decision support? 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.” Think again. Be mindful that not all decision support tools are created equal.

Technology 52

Technology Utilities Payroll Deductions 52

Higginbotham

JULY 12, 2022

This may be a good option for employers that want to simplify their health plan administration while giving employees flexibility. Even with health insurance, dental insurance and vision insurance, employees tend to end up with some out-of-pocket costs that aren’t covered by their various plans. Manage enrollment.

Out of Pocket Cost 52

Out of Pocket Cost Flexible Spending Account Medical Deductions 52

Business Management Daily

NOVEMBER 15, 2021

Copays, co-insurance, and deductibles for medical care. Health insurance premiums including COBRA premiums. Any expenses already covered or reimbursed by insurance. They may also divide the unused fund among all employees enrolled in the FSA plan. Healthcare FSAs. Medical Marijuana.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Medical Healthcare 98

Abel HR

JANUARY 21, 2021

Below, we take a look at the old laws and what, if any, changes you might have to make to your employee health programs should this one go the distance. In addition, any incentive offered must be tied to cost-sharing or premium differentials under the group health plan.

Employee Wellness 52

Employee Wellness Health Insurance Medical Commissions 52

Winston Benefits

OCTOBER 25, 2017

For 2017, 92 percent of employees enrolled in benefits programs, with voluntary benefit participation rising markedly. Accident insurance enrollment went up more than 20 percent; critical illness insurance enrollment rose more than 28 percent and hospital indemnity jumped 58 percent.

Manufacturing 45

Manufacturing Food Technology Employee Enrollments 45

Flimp Communications

JULY 24, 2020

Benefits decision support has come a long way since employees had to fill out endless forms while reading nearly inscrutable jargon explaining what their benefit options were. Health insurance is still difficult for employees to understand and use efficiently.

Benefits Package 53

Benefits Package Retirement Plan Healthcare Health Insurance 53

Winston Benefits

FEBRUARY 21, 2018

Your employees make a lot of decisions during their work day, but one of the most important decisions they’ll make comes once a year: what to do about their employee benefits. Tech-based tools can make it easier for employees to plan, budget and plug the gaps in their insurance needs. Plan-comparison tools.

Life Insurance 45

Life Insurance Employee Enrollments Deductions Deductible 45

Corporate Synergies

AUGUST 6, 2018

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% In the push toward more consumerism, it’s imperative that employees understand how an HSA works. in 2011 to 39.3%

401(k) 40

401(k) Health Savings Account Retirement Plan Deductions 40

Business Management Daily

NOVEMBER 30, 2021

For medical services or pharmacy expenses, include your explanation of benefits (EOB) and what portion of the expense was not reimbursed through your insurance company. Employees may not seek FSA reimbursement for costs that will be reimbursed by their health plan. The amount paid for the service or product.

Retail 52

Retail Healthcare Medical Flexible Spending Account 52

Insperity

NOVEMBER 24, 2014

On the administrative side, this streamlines the process so the data entered by employees is ready to go directly to the insurance provider. It eliminates the possibility of incomplete forms, which could create administrative headaches as you have to track down employees to get forms completed.

Insurance 78

Insurance Employee Enrollments Hospitality Deductions 78

Insperity

NOVEMBER 24, 2014

On the administrative side, this streamlines the process so the data entered by employees is ready to go directly to the insurance provider. It eliminates the possibility of incomplete forms, which could create administrative headaches as you have to track down employees to get forms completed.

Insurance 40

Insurance Employee Enrollments Hospitality Deductions 40

InterWest Insurance Services

MARCH 1, 2024

The employer deducts any fees or premiums for these benefits from employee paychecks and forwards them in a single batch to the benefit vendors. cancer insurance) Pet insurance. cancer insurance) Pet insurance. Best practices Don’t overwhelm employees with too many benefit choices at the same time.

Voluntary Benefits 98

Voluntary Benefits Disability Insurance Deductions Deductible 98

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?nn"},{"attributes":{"bold":true},"insert":"Barriers Simple: Under-insured people make terrible decisions. nSo why is this such a problem?

Healthcare 40

Healthcare Deductions Deductible Insurance 40

Insperity

APRIL 29, 2021

per hour, per employee, for health-insurance costs, according to Sept. In 2021, employer expenses for health insurance are expected to rise by 3.9 In 2021, employer expenses for health insurance are expected to rise by 3.9 However, a major driver of increasing health-insurance costs is plan usage and claims history.

Employee Benefits 126

Employee Benefits Health Insurance Benefits Package Insurance 126

HR Lineup

OCTOBER 18, 2023

This software is a comprehensive platform that allows HR professionals, benefits managers, and employees to efficiently manage, access, and make decisions regarding benefits such as health insurance, retirement plans, leave policies, and more. It offers automated benefits administration, including health insurance and retirement plans.

Software 79

Software Retirement Plan Health Insurance Payroll 79

HR Lineup

FEBRUARY 9, 2023

The platform streamlines HR processes and benefits administration by offering a single, centralized platform for employees to access and manage their benefits, from health insurance and retirement plans to time-off tracking and more. One of the key benefits of GoCo is its ease of use.

Flexible Spending Account 52

Flexible Spending Account Comprehensive Benefits Retirement Plan Flexible Spending 52

Total Employee Benefits

DECEMBER 14, 2021

Beginning December 27, 2021, as part of the Consolidated Appropriations Act, covered service providers – insurance providers, benefits brokers, agents, and consultants – are required to disclose any compensation they expect to receive over $1,000. In this case, you already know how much and from whom your broker is being paid.

Insurance Carriers 52

Insurance Carriers Health and Welfare Insurance Employee Enrollments 52

InterWest Insurance Services

MARCH 7, 2024

They are only available to employees enrolled in a high-deductible health plan. HDHPs feature lower premiums in exchange for a higher deductible, meaning the employees have to pay more out of pocket before coverage kicks in. Withdrawals to reimburse for these expenses are also not taxed.

401(k) 98

401(k) Health Savings Account Pharmaceutical Deductions 98

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. However, not all employees are offered these benefits.

Deductions 75

Deductions Deductible Flexible Spending Account Health Savings Account 75

Business Management Daily

SEPTEMBER 9, 2021

Eligibility: FSAs are generally available only to current employees. Qualifying insurance: FSAs are generally offered alongside group health plans, but employees typically aren’t required to enroll in a group plan in order to enroll in the FSA.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Employment Flexible Spending 52

Flimp Communications

NOVEMBER 7, 2019

And each employee has a decision to make: to go along with or resist the change. If the company changes how they sign up for health insurance, employees must learn the new system or go without insurance. For digital transformations, individuals don’t have much choice in the matter. A Plan with Too Many Details.

Management 47

Management Health Insurance Employee Enrollments Construction 47

Corporate Synergies

JULY 8, 2019

For example, if your employees enroll in benefits on paper and you manually enter elections, moving to a tech platform will save time. Is the benefits administration system able to automate the evidence of insurability process? How complex are your eligibility and employee benefit offerings?

Technology 44

Technology Retirement Plan Software Employee Enrollments 44