article thumbnail

What is an HDHP?

WEX Inc.

HDHPs have limits for allowable deductible amounts and out-of-pocket costs. This can make HDHPs a great option for saving on monthly payments. Health savings accounts Another great perk of HDHPs is they can be paired with health savings accounts (HSAs).

article thumbnail

How HRAs Can Help Your Employees Pay for Medical Expenses

InterWest Insurance Services

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). Vision expenses.

Medical 98
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

More Insurers Pushing Virtual Care for Cost Savings

InterWest Insurance Services

More and more insurers are expanding the use of telemedicine, just as a new study shows promising cost savings of up to 25% from virtual care when implemented properly. It’s envisioned that these stand-alone telehealth benefits would operate similarly to dental and vision benefits, remaining separate from health care plans.

article thumbnail

FSA eligible expenses — what purchases count?

Business Management Daily

While flexible spending accounts are typically associated with medical costs there are a couple of different types of FSAs. This allows you to use pre-tax dollars to cover copays, out-of-pocket medical, vision, or dental expenses, and purchase eligible health care products. Healthcare FSA.

article thumbnail

How to offer health insurance as a small business

Higginbotham

Glassdoor surveyed workers and found that when choosing between a high-paying job and a low-paying job with better benefits, health insurance and flexible hours could spur them to pick the lower-paying job with better benefits. However, to qualify for ICHRA reimbursement, employees must be enrolled in an individual health plan.

article thumbnail

Executive benefit reimbursement plans

Higginbotham

Integrated health reimbursement arrangements are designed to work with the group health plan. 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. Comparing HRAs, HSAs and FSAs.

article thumbnail

Little-Known Things to Consider When Shopping for Group Health Insurance

Insperity

First and second time group health insurance buyers usually miss the opportunity to buy a health savings account (HSA)-qualified high-deductible health plan (HDHP). Health Savings Accounts. In addition, employer contributions to an HSA can keep out-of-pocket costs reasonable for employees.