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Individual health insurance vs. group health insurance

PeopleKeep

If you’re offering health benefits for the first time, or are considering changing up your benefits strategy, it's common for employers to compare a traditional group health insurance plan with individual health insurance reimbursement options, like health reimbursement arrangements (HRAs).

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What does health insurance cover?

PeopleKeep

Without insurance, Healthcare.gov estimates an accident leading to a broken leg can cost up to $7,500 to fix, and an average three-day hospital stay can reach up to $30,000. Census Bureau says roughly 91% of all Americans are now covered by some form of health insurance.

Single-payer health insurance could be right around the corner

Employee Benefit News

Health insurance Healthcare Healthcare plans

Group coverage vs. individual health insurance cost

PeopleKeep

Deciding whether to enroll in a group health insurance plan through your employer or to purchase your own individual health insurance plan can be a confusing decision to make. How exactly do individual health insurance premiums compare to group health insurance premiums?

How Much Does Individual Health Insurance Cost?

PeopleKeep

Many people assume that individual health insurance is more expensive than group health insurance. Note: Individual health insurance is purchased by an individual for themselves or their family, and group health insurance is purchased by an employer for employees.

How to cancel your health insurance policy

PeopleKeep

Open enrollment is a popular time to switch up your health insurance, but it isn't the only time you can cancel your current policy. Individual Health Insurance Group Health Insurance Health Insurance Options

What is the Health Insurance Marketplace?

PeopleKeep

The Affordable Care Act (ACA) came with the creation of a competitive health insurance market called the Health Insurance Marketplace. Group Health Insurance HHS Health Exchange Health Insurance Marketplace Health Reimbursement Arrangement

How age impacts your health insurance costs

PeopleKeep

When you’re sick, injured, or have unexpectedly high medical costs, health insurance acts as an important safety net that keeps you from paying more out-of-pocket than you would without it. Is your employer offering you a health reimbursement arrangement?

Top seven health insurance terms to know

PeopleKeep

If you’re new to health insurance policies or shopping for a plan on the individual market for the first time, understanding health insurance terminology is one of the first challenges you may face. Health Exchange Health Insurance Marketplace Health Insurance Video

How to apply for individual health insurance

PeopleKeep

More and more employers today are adopting reimbursement models for their employees’ healthcare, empowering employees to choose their own individual health insurance plan and get reimbursed, tax-free, for their premium.

Is health insurance reimbursement taxable?

PeopleKeep

Under IRS rules , employers can reimburse employees for their health insurance in a tax-advantaged way. The most prominent vehicle for doing so is a health reimbursement arrangement (HRA). Standalone HRA HRA individual health insurance reimbursement QSEHRA

2022 Health Insurance Outlook, Changes

InterWest Insurance Services

As we enter 2022, there are a number of changes on the horizon that plan sponsors need to be aware of as they will affect group health plans as well as employees enrolled in those plans. The CAA created a number of new requirements that affect health insurance and coverage.

Do Employers Have to Offer Health Insurance?

Patriot Software

But did you know that 88% of employees consider health insurance benefits when choosing a job? Although the majority of employees want good health insurance benefits, it can be expensive to provide.

5 Hidden Attributes in Health Insurance Plans

CorpStrat

Many people don’t even think about their health insurance plan until they get sick. We firmly believe that a good health insurance plan can do something powerful for everybody. Some even subsidize health club memberships. Mental Health.

Why Individual Health Insurance is More Affordable Than Group

PeopleKeep

Individual health insurance is more affordable than group health insurance. Also, under the Affordable Care Act, individual health plans must cover all individuals regardless of health , which was not previously the case.

Will health insurance be more expensive for the unvaccinated?

PeopleKeep

As the world continues to feel the effects of the global pandemic, health insurance professionals are speculating whether changes in health insurance costs could be coming soon for unvaccinated Americans. Health Insurance Marketplace Health Insurance Healthcare Costs

How much does group health insurance cost?

PeopleKeep

As employers research health insurance coverage options, it is common for them to evaluate different strategies and their associated costs. Health Insurance Healthcare Costs

Seven ways to save on health insurance

PeopleKeep

The cost of health insurance premiums and the amount of health expenditures in the U.S. However, despite this trend, there are several, simple ways you can combat expensive medical costs and make your health insurance more affordable. Health Insurance

Five advantages of individual health insurance

PeopleKeep

While group health insurance plans have traditionally been a popular choice for employer-sponsored health benefits, more and more employers are embracing reimbursement models, like health reimbursement arrangements (HRAs). New to signing up for individual health insurance?

Most Workers Make Bad Health Insurance Decisions

InterWest Insurance Services

Even though the majority of workers receive health insurance coverage on the job, a new survey has found that many of them understand surprisingly little about their health plans and are leaving money on the table. Most health plans do not cover out-of-network care.

Can I reimburse employees for health insurance?

PeopleKeep

Due to rising health insurance costs , employers must search for ways to reduce their—as well as their employees’—costs, as much as possible.

What is Group Health Insurance?

Fringe Benefit Analysts

Why is Health Insurance Important? . Medical insurance is critical to help individuals pay for these, and many other, health-related expenses. But health insurance isn’t only important for unexpected trips to the emergency room or long stays at a hospital.

Health insurance options for pastors and clergy

PeopleKeep

When it comes to offering health benefits to pastors and clergy, churches may feel out of options. They want to take care of their pastor and staff, but are often not able to afford or qualify for a traditional group health insurance plan.

What Percentage of Health Insurance Do Employers Pay?

Patriot Software

Offering employer-sponsored health insurance keeps your employees healthy and happy. If you’ve decided to provide coverage, you might be wondering, “What percentage of health insurance do employers pay?” What percentage of health insurance do employers pay?

Alleviating Health Insurance Burden on Employees a Top Priority: Poll

InterWest Insurance Services

As the 2023 group health open enrollment season nears, more employers have heard concerns among their staff and are focusing on affordability and easier access to health care services, according to a new study. Blog InterWest Insurance Services health insurance

The complete history of employer-provided health insurance

PeopleKeep

What if we told you that the creation of health insurance was actually an accident? Or that the way we think about health insurance is changing? Here, we’ll cover the history of health insurance in the U.S.,

What is a health insurance navigator?

PeopleKeep

If your employer offers a health reimbursement arrangement (HRA), you’re likely going to be shopping for an individual health insurance plan on the federal or state exchanges, also known as the Health Insurance Marketplaces.

Top five health insurance terms to know

PeopleKeep

If your employer is offering a health reimbursement arrangement (HRA), chances are you’re going to be shopping for your own individual health insurance—maybe even for the first time. If you’re new to the health insurance market, don’t worry!

What Percent of Health Insurance is Paid by Employers?

PeopleKeep

When evaluating a new or existing health insurance program, your organization's contribution strategy is an important consideration. In simple terms, how much will individual employees pitch in for coverage, and what percent of health insurance is paid by the employer?

Best health insurance options for students

PeopleKeep

is securing affordable health insurance. While you may be young and healthy, health insurance keeps you protected in case you get seriously ill or are in an accident. Health Insurance Options Health Insurance

How to Switch to Your Spouse's Health Insurance Policy Midyear

PeopleKeep

Married couples share a lot of things, including health insurance coverage in some cases. Individual Health Insurance Group Health Insurance Qualified Small Employer HRA Individual Coverage HRA

The different types of health insurance

PeopleKeep

Selecting the right type of health insurance plan for your organization is extremely important. To make matters trickier, there are different types of health policies designed for different purposes.

Handling Employees Who Want to Waive Coverage from Health Insurance

Patriot Software

Health insurance is a great benefit to offer employees. According to the Bureau of Labor Statistics (BLS), 71% of all private industry businesses offer health benefits. But, what happens when employees want to opt out of employer health insurance?

Who Is Eligible for Group Health Insurance?

Fringe Benefit Analysts

Health insurance is not likely at the top of your To-Do list, but it should be! Figuring out whether or not your business is eligible for group health insurance is essential if you want to enroll with good rates and adequate coverage. The Basics of Group Health Insurance.