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6 tips to help employees manage out-of-pocket expenses

Benefit Resource Inc.

Employees have a better chance of managing out-of-pocket spending when they understand how their out of pocket expenses can be reduced and what type of savings will come along with that. To help you get started, here are 6 tips to help employees manage their out-of-pocket expenses.

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New Transparency Requirements for Health Plans

AssuredPartners

The Laws Two federal laws that have been finalized in the last year require greater transparency regarding the cost of certain prescription drugs and medical services. The Transparency in Coverage Final Rule On October 29, 2020, the U.S.

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

Corporate Synergies

Patient financial responsibility is on the rise—average out-of-pocket costs rose 11% in 2017 alone. 1 Many of them are still learning how to choose the right benefits each year so they get the coverage they need without overpaying or getting stuck with unexpected costs.

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Benefits Advocate: The Secret to Healthcare Literacy and Cost Control

Corporate Synergies

Employers can make plan design changes and educate employees throughout the year, but the best way to reduce healthcare costs is to reduce healthcare costs at the source —that is, to help employees use healthcare as efficiently as possible. Broker-provided employee advocacy serves as a first-to-call resource for plan participants.

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How Health Care Reform Helps People and Small Businesses Pay for Coverage

Insperity

So we’ve got premiums under control, but what about deductibles, copayments and other out-of-pocket costs? Cost-sharing subsidies help individuals and families reduce out-of-pocket medical expenses by raising the actuarial value of the aforementioned silver-level plan from 70 percent to as high as 94 percent.

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Insurers Promise to Keep Covering Preventative Services

InterWest Insurance Services

Most health insurers plan to continue offering free preventative care services despite a federal judge having imposed a nationwide injunction on an Affordable Care Act requirement that these services are covered with no out-of-pocket costs on the part of patients, according to a letter by industry trade groups.

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New Health Plan Prescription Drug Reporting Mandate

AssuredPartners

For fully insured plans, health insurance carriers will be responsible for making the necessary reporting from a legal standpoint. Finally, plan sponsors and insurers must report any reduction in premiums and out-of-pocket costs associated with these rebates, fees, or other remuneration.