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In 2023, there are numerous benefits administration software options available, each with its unique features and advantages. In this article, we will explore the 10 best benefits administration software options for 2023. Top 10 Benefits Administration Software of 2023 1. What is Benefits Administration Software?
Pharmacy spending, high-cost claimants and newly developed anti-obesity drugs are expected to shape health benefits and affect the cost of care and healthinsurance for employers, according to a new report. Pharmacy spending Between 2020 and 2023, the average per member per month pharmacy spend increased 38% from $86 to $119.
With more than half of all private sector employeesenrolled in high-deductible health plans , it’s important that employers have in place certain protocols to ensure that they are a success. Providers in an insurer’s network may charge vastly different rates for the same procedure.
With more than half of all private sector employeesenrolled in high-deductible health plans , it’s important that employers have in place certain protocols to ensure that they are a success. Providers in an insurer’s network may charge vastly different rates for the same procedure.
Are you offering your employeeshealthinsurance options that work for their budgets? While not ideal for everyone, a high-deductible health plan can be very appealing to some workers, especially when it’s paired with a health savings account. Many people find healthinsurance terms to be confusing.
The employer deducts any fees or premiums for these benefits from employee paychecks and forwards them in a single batch to the benefit vendors. One reason: More employers are offering high-deductible plans as healthinsurance costs continue to increase.
Decision Support Think your employees aren’t interested in decision support? A 2022 Harris poll found that 72% of employees said “they wish someone would tell them what the best healthinsurance for their unique situation is.” Think again. Be mindful that not all decision support tools are created equal.
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