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. Providers in an insurer’s network may charge vastly different rates for the same procedure.

Out of Pocket Cost 83

Out of Pocket Cost Deductions Deductible Voluntary Benefits 83

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. That leaves your worker exposed to a total out-of-pocket cost of over $7,600. Coinsurance.

Voluntary Benefits 98

Voluntary Benefits Hospitality Insurance Out of Pocket Cost 98

PeopleKeep

FEBRUARY 16, 2022

There are many factors to consider when it comes to selecting health insurance. One of the biggest factors is how high your out-of-pocket costs will be. However, premium costs and deductibles are inversely related, so a plan with no or low deductibles means higher premiums.

Deductions 98

Deductions Deductible Out of Pocket Cost Health Insurance 98

InterWest Insurance Services

MAY 18, 2023

But satisfaction greatly increases when HDHP enrollees stick with their plan for more than three years, according to the Employee Benefit Research Institute (EBRI)/Greenwald Research “Consumer Engagement in Health Care Survey.” If enrolled three or more years, 55% were satisfied.

Out of Pocket Cost 98

Out of Pocket Cost Health Savings Account Deductions Deductible 98

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).

Employment 98

Employment Out of Pocket Cost Health Insurance Health Savings Account 98

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

Insurance Check-Up - While stocks have trended downward so far in 2022, insurance premiums (homeowners, auto, health, etc.) Among the culprits: climate change, higher costs for labor and supplies to repair houses and cars, and higher out-of-pocket costs for employer-provided health insurance.

401(k) 245

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

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% What employers are doing.

Out of Pocket Cost 92

Out of Pocket Cost Employment Health Insurance Deductions 92

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 98

Out of Pocket Cost 401(k) Deductions Deductible 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

Corporate Synergies

FEBRUARY 11, 2019

A new father outlines requirements with his Baby Health Insurance Playbook. The same can be said for insuring a new dependent. To plan for newborn healthcare benefits, parents need a baby health insurance playbook. Patient financial responsibility is on the rise—average out-of-pocket costs rose 11% in 2017 alone.

Health Insurance 47

Health Insurance Insurance Insurance Carriers Out of Pocket Cost 47

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 93

Out of Pocket Cost Flexible Spending Account Health Savings Account Health Insurance 93

InterWest Insurance Services

NOVEMBER 22, 2023

According to the Centers for Disease Control, six out of every 10 American adults have at least one chronic condition, with 40% having two or more. As a result, chronic conditions play an outsized role in the cost of group health insurance. Routine immunizations. Preventive services for men and women.

Out of Pocket Cost 98

Out of Pocket Cost Education Insurance Health Insurance 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.

Out of Pocket Cost 96

Out of Pocket Cost Deductions Deductible Health Insurance 96

InterWest Insurance Services

MAY 25, 2022

Additionally, virtual care is expected to become an essential and long-lasting feature of employers’ health insurance and employee benefits strategies over the next few years, according to the “2022 Emerging Trends in Healthcare Survey” by Wills Towers Watson. Dealing with rising costs.

Employment 97

Employment Out of Pocket Cost Health Insurance Insurance 97

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

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

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

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

InterWest Insurance Services

MARCH 15, 2022

It’s no secret that most employees do not fully understand all of their health insurance benefits, which can lead to worse health outcomes and them spending more money than they need to for some medical procedures. Overtreatment and unnecessary treatments can lead to worse health outcomes and higher out-of-pocket costs.

Out of Pocket Cost 98

Out of Pocket Cost Health Savings Account Health Insurance Medical 98

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

Benefits Notes

JANUARY 4, 2023

In addition, plans and issuers now have until January 31, 2023 to provide a good faith submission of 2020 and 2021 data through the Health Insurance Oversight System. The prescription drug and health care spending reporting obligation falls on the group health plan.

Out of Pocket Cost 52

Out of Pocket Cost Manufacturing Insurance Health Insurance 52

InterWest Insurance Services

MAY 11, 2023

Don’t forget your health insurance There is an extensive list of mental health services your health plan should provide your staff. Of course, there will likely be some out-of-pocket costs for your employees that use these services under their group health plans.

Family and Medical Leave Act 98

Family and Medical Leave Act Employment Parental Leave Out of Pocket Cost 98

Higginbotham

NOVEMBER 28, 2022

The tax advantages can make health care more affordable. Even when you have health insurance, out-of-pocket expenses can be significant. HSAs provide a tax-advantaged way to cover these costs. Offering Health Savings Accounts. This “use it or lose it” framework means some people lose their funds.

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductions Deductible 52

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? Is a lower deductible worth the higher out-of-pocket costs?

Deductions 76

Deductions Deductible Out of Pocket Cost Health Savings Account 76

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

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

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. In 2023, having some money set aside to cover these out-of-pocket costs is critical for most employees.

Flexible Spending Account 52

Flexible Spending Account Out of Pocket Cost Flexible Spending Deductions 52

Best Money Moves

MAY 22, 2019

Health Insurance was the benefit millennials felt would most help them achieve their financial goals. Research by the West Health Institute/NORC at the University of Chicago found more than 40 percent of Americans didn’t see a physician when they were sick or injured because of high healthcare costs.

401(k) 76

401(k) Out of Pocket Cost Health Insurance Paid Leave 76

AssuredPartners

NOVEMBER 5, 2020

The rule requires group health plans and health insurance issuers in the individual and group markets to not only provide easy-to-understand personalized information on enrollee cost-sharing for healthcare services, but they must also publicly disclose the rates they actually pay healthcare providers for specific services.

Out of Pocket Cost 52

Out of Pocket Cost Health Insurance Healthcare Insurance 52

Best Money Moves

JUNE 1, 2022

This assistance can come in many forms such as covering the cost of health insurance or assisted savings programs. Health care costs can often drag behind increases in consumer prices, so employees may face an increase in costs that will last throughout this year and next. Student Loan Repayment Assistance.

401(k) 98

401(k) Out of Pocket Cost Benefits Package Finance 98

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

HR Professionals Magazine

NOVEMBER 1, 2022

Remember, CAA Section 204 requires GHPs or insurers to submit general information on your plan or coverage, as well as detailed information related to Rx spending, total health care spending, and the impact of any Rx rebates, fees or other compensation affecting premiums and out-of-pocket costs.

Out of Pocket Cost 52

Out of Pocket Cost Health Insurance Insurance Employee Benefits 52