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Four High Deductible Health Plan Mistakes to Avoid

InterWest Insurance Services

Failing to offer a health savings account The idea behind HDHPs is that the money employees save on premium can be funneled into an attached HSA, which can be used to reimburse out-of-pocket medical expenses. Offering wellness programs can boost employees’ overall health, help them lose weight or quit smoking.

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Offer HDHP and HSAs? Follow this 4-step Voluntary Benefits Checkup

Corporate Synergies

Which voluntary benefit options are right for your employees? This 4-step voluntary benefits checkup will help you decide. As the cost of medical plans rises, employers are offering high-deductible health plans (HDHPs) and health savings accounts (HSAs) as part of their employee benefit plans.

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Tips to refine your OE communication strategy and availability

WEX Inc.

Benefits are also not top of mind for many employees. Employees are often more focused on frequently used benefits such as vacation and paid off policies (PTO) rather than insurance, voluntary benefits and retirement plans. However, they’re most likely not communicated any differently than other benefit offerings.

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Four Ways to Ensure Your Group HDHP Will Fail

InterWest Insurance Services

Failing to offer a health savings account The idea behind HDHPs is that the money employees save on premium can be funneled into an attached HSA, which can be used to reimburse out-of-pocket medical expenses. Offering wellness programs can boost employees’ overall health, help them lose weight or quit smoking.

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Smallest Firms See Largest Health Insurance Hikes

InterWest Insurance Services

In those cases, Ease CEO and co-founder David Reid recommends pairing an HDHP plan with other voluntary benefit plans that can “insure” gaps in coverage, such as short-term disability plans and group supplemental health insurance plans called Gap plans. Deductibles can be added to the plan to manage premium costs.

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Identify Your Workers’ Needs, Consider Costs before Open Enrollment

InterWest Insurance Services

This is especially true if you are making changes to cost-sharing, introducing new plans, or offer voluntary benefits, a wellness plan or health savings account or flexible spending account. Communicate effectively Your task is to get employees out of cruise control and truly assess all of their options.

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USI Employee Benefits

HR Lineup

USI’s benefits offerings include a comprehensive suite of health insurance options, including medical, dental, and vision insurance. The company also offers flexible spending accounts (FSAs) and health savings accounts (HSAs) to help employees save money on healthcare costs.