article thumbnail

A Lack of Healthcare Benefits is Causing Financial Toxicity

Best Money Moves

A lack of healthcare benefits is causing financial toxicity for employees across the country. The truth is many employees need help navigating healthcare benefits to lower out of pocket expenses and avoid , “financial toxicity.”. He says, “To many people, $160 is a lot of money.

article thumbnail

Navigating HSAs and the Health, Wealth, and Wellness Triangle

Benefit Resource Inc.

HSAs enable employees to save pre-tax dollars for qualified medical expenses, including deductibles, copayments, and other out-of-pocket costs. Employers can leverage HSAs to promote comprehensive wellness initiatives that extend beyond traditional healthcare benefits.

Insiders

Sign Up for our Newsletter

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

article thumbnail

How to tell if your HDHP is HSA-qualified

PeopleKeep

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. So how do you know if your HDHP is HSA-qualified?

article thumbnail

How to Help Employees Prepare for Open Enrollment 2020

Best Money Moves

It’s unfortunate employees are rushing benefits decisions, especially when employers are taking a more active role in driving down healthcare costs. What can employers do to help employees better understand how different health insurance plans affect out-of-pocket costs for healthcare?

article thumbnail

Top 3 Hiring Trends for 2020

Best Money Moves

Employers can also remind employees when it’s time to get flu shots, when open enrollment starts, and have someone available to review healthcare benefits and out-of-pocket costs to help them better understand changes each year. .

article thumbnail

Baby Health Insurance Playbook: 5 Steps to Plan for a Newborn

Corporate Synergies

To plan for newborn healthcare benefits, parents need a baby health insurance playbook. Employees are increasingly responsible for making important decisions about their healthcare and carrying the financial burden. Patient financial responsibility is on the rise—average out-of-pocket costs rose 11% in 2017 alone.

article thumbnail

Easing the Benefits Enrollment Process with Decision Support and More

Flimp Communications

What employees want when determining their healthcare options doesn’t always match what employers think they want. SHRM observed that employers and employees have different ideas about the best methods for selecting and enrolling in healthcare benefits. They usually display only one choice for health insurance at the end.