Gen Z, Millennials Grow Disillusioned with Their Health Insurance

InterWest Insurance Services

Surprise bills and billing errors are driving growing dissatisfaction among Millennials and Gen Zers with their health insurance, a new study has found. Additionally, the study found that: 39% of Millennials are unsatisfied with their health insurance options.

2022 Health Insurance Outlook, Changes

InterWest Insurance Services

In addition, new rulemaking is likely to be introduced in 2022 that will affect health plans, including non-discrimination rules for wellness plans and new rules governing what must be included on insurance plan ID cards. Blog InterWest Insurance Services health insurance


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Umbrella Insurance: Do You Need It?

Money Talk

Like an umbrella that covers your head to protect you from a rainstorm, an umbrella liability policy “covers” your other property insurance, thereby providing additional protection. Umbrella policies provide coverage for $1 million, or million-dollar increments above a policyholder's underlying auto, boat, and/or homeowners/renters insurance liability limits. To summarize, umbrella insurance protects policyholders’ assets from large claims when they are found at fault.

Delays, Higher Insurance Costs Burden Owners, Contractors

InterWest Insurance Services

Increasing construction project delays are combining with a hardening market for builder’s risk and liability insurance to create headaches for project owners and contractors. Insurers’ response. This is happening at a time of persistently tight insurance market conditions.

Health Insurance Considerations for Workers Who Move Out of State

InterWest Insurance Services

But while these arrangements can be a boon for workers, they can make it difficult when it comes to your workers’ group health insurance. If all of your staff are working in a single location, city or state, there are usually plenty of options for group health insurance.

What does health insurance cover?


Without insurance, estimates an accident leading to a broken leg can cost up to $7,500 to fix, and an average three-day hospital stay can reach up to $30,000. Census Bureau says roughly 91% of all Americans are now covered by some form of health insurance.

Individual health insurance vs. group health insurance


If you’re offering health benefits for the first time, or are considering changing up your benefits strategy, it's common for employers to compare a traditional group health insurance plan with individual health insurance reimbursement options, like health reimbursement arrangements (HRAs).

How to become an insurance broker


There’s no doubt that the insurance industry is tricky to navigate. That’s why insurance brokers are critical in helping consumers pick and choose plans that are right for them. Bureau of Labor , employment of insurance brokers is projected to grow 7% between 2020 to 2030.

Who Needs Disability Insurance?

Fringe Benefit Analysts

That’s where disability insurance comes in. What is Disability Insurance? Disability insurance can replace your lost income if you’re unable to work due to illness or injury. Think of it as insurance for your paycheck, which is likely your most valuable asset.

July 28, 2022 – Commercial Group Captive Insurance Webinar

InterWest Insurance Services

WHO SHOULD ATTEND: Business Owners, Chief Financial Officers, Insurance Buyers and Safety Directors. Captive Insurance Programs are becoming more prevalent for larger well-managed companies that desire to stabilize annual premiums and have more control of their insurance cost.

Kentucky Lowers Unemployment Insurance Taxable Wage Base

American Payroll Association

APA's list of 2022 state unemployment insurance taxable wage bases has been updated to reflect a change by Kentucky that lowers its wage base

Hospital Indemnity Insurance a Key Voluntary Benefit

InterWest Insurance Services

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. even for people with health insurance. Coordination with group health insurance.

How Much Does Individual Health Insurance Cost?


Many people assume that individual health insurance is more expensive than group health insurance. Note: Individual health insurance is purchased by an individual for themselves or their family, and group health insurance is purchased by an employer for employees.

Can you have two health insurance plans?


Navigating the world of health insurance can be tricky, especially if you’ve found yourself with more than one health insurance plan to figure out. If you’re new to dual insurance, then this article is for you! We’ll cover: Why someone might have two health insurance plans.

Group coverage vs. individual health insurance cost


Deciding whether to enroll in a group health insurance plan through your employer or to purchase your own individual health insurance plan can be a confusing decision to make. How exactly do individual health insurance premiums compare to group health insurance premiums?

Accident Plan Insurance 101


However, having an accident insurance plan can help relieve some of that financial burden. With a typical accident insurance plan, enrolled participants receive a lump-sum benefit for injuries sustained from an accident. Wishing you had accident plan insurance?

5 Hidden Attributes in Health Insurance Plans


Many people don’t even think about their health insurance plan until they get sick. We firmly believe that a good health insurance plan can do something powerful for everybody. Today we’re sharing some of the most popular hidden attributes in health insurance plans.

How to cancel your health insurance policy


Open enrollment is a popular time to switch up your health insurance, but it isn't the only time you can cancel your current policy. Individual Health Insurance Group Health Insurance Health Insurance Options

How Does Disability Insurance Work? | BerniePortal


Employers often offer ancillary benefits like disability insurance as part of the enrollment process , but unlike health coverage , not all employees will need ancillary benefits. So, what is disability insurance?

Commercial truck insurance essentials


The right insurance coverage can help you manage those risks and protect your business. As an owner operator or motor carrier, make sure you’re covered with the commercial truck insurance essentials you need. What type of insurance do commercial trucks need? Business Insurance

Want to Save on Insurance? Be a Smarter Healthcare Consumer


Most health insurance plans outside of a Health Savings Account (HSA) have a list of copays for healthcare expenses. To minimize your health plan’s renewal increase, think twice about how you’re spending the insurance company’s money with the following healthcare options.

Fully-insured vs. self-insured health plans


That’s why more companies are choosing to set aside funds to pay for the healthcare needs of their own employees instead of offering a traditional group health insurance plan. Group Health Insurance Health Benefits Qualified Small Employer HRA Individual Coverage HRA

Fully-insured vs. self-insured (self-funded) health plans


There are two common ways to structure a health insurance plan: fully-insured and self-insured (or self-funded). Group Health Insurance Qualified Small Employer HRA Individual Coverage HRA

How to apply for individual health insurance


More and more employers today are adopting reimbursement models for their employees’ healthcare, empowering employees to choose their own individual health insurance plan and get reimbursed, tax-free, for their premium.

Health Insurance Explained: How age impacts your insurance costs


The Affordable Care Act was signed into law almost 11 years ago, but there’s still confusion about how health insurance premiums are calculated. Read on to learn how your health insurance premium is calculated and what role your age plays in the calculation. Health Insurance Premiums

Expect More Difficulty Obtaining Fiduciary Insurance

McDermott Will & Emery Employee Benefits

Increasing retirement plan-focused litigation has put insurance carriers and fiduciary service providers in difficult positions. The post Expect More Difficulty Obtaining Fiduciary Insurance appeared first on EMPLOYEE BENEFITS BLOG.

What is Voluntary Life Insurance? | BerniePortal


During the enrollment process , employers often offer ancillary benefits like voluntary life insurance to supplement basic life coverage. So, what is voluntary life insurance?

Can I reimburse employees for health insurance?


Due to rising health insurance costs , employers must search for ways to reduce their—as well as their employees’—costs, as much as possible.

Will health insurance be more expensive for the unvaccinated?


As the world continues to feel the effects of the global pandemic, health insurance professionals are speculating whether changes in health insurance costs could be coming soon for unvaccinated Americans. Health Insurance Marketplace Health Insurance Healthcare Costs

What is Basic Life Insurance? | BerniePortal


As part of that enrollment process, employers often offer ancillary benefits like basic life insurance as well, but unlike health coverage , basic life coverage alone may not be enough to cover all of an employee’s needs—especially if they have a family. So, how does basic life insurance work?

What is Evidence of Insurability (EOI)?


Due to HR’s prominent role in open enrollment , employees often turn to you with insurance questions even after you’ve handed off responsibility to brokers and carriers. That means you’ve likely been asked about the Evidence of Insurability process without really knowing much about it.

Washington Governor Delays Long-Term Care Insurance Payroll Tax

American Payroll Association

The governor of Washington has announced a delay collecting the payroll tax associated with the Washington long-term care insurance program until April 2022

Taxes 116

Five tools every insurance agent should have


With thousands of Americans looking to agents and brokers for help navigating the confusing world of health insurance, qualified insurance agents are in high demand in the U.S. In this article, we’ll cover five essentials tools every insurance agent should have at the ready: A website.

Essential Things to Remember When Looking for Renter’s Insurance

Take It Personel-ly

Renter’s insurance covers elements that aren’t managed through the owner’s property insurance policies. The post Essential Things to Remember When Looking for Renter’s Insurance appeared first on Take It Personel-ly.

Why Individual Health Insurance is More Affordable Than Group


Individual health insurance is more affordable than group health insurance. Individual Health Insurance group health insurance small business health insurance healthcare costs risk pools affordability

The Ins and Outs of Small-Business Insurance

Kollath CPA

If you have business interruption insurance, can it help you through the pandemic? Learn more about The Ins and Outs of Small-Business Insurance. Business interruption insurance can cover lost income and continuing expenses while your business is closed or being repaired.

How Does Dental Insurance Work? | BerniePortal


As part of that enrollment process, employers often offer ancillary benefits like dental and vision insurance as well, but unlike health coverage , dental plans can be relatively easier to understand and compare. So, how does dental insurance work?