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As we approach the 2024 United States presidential election, Chris Byrd, senior vice president, health executive and, more broadly, head of Government Affairs at WEX, joined our Benefits Buzz podcast for an insightful conversation on how election years can influence employee benefits.
Going out of network is discouraged with high out-of-pocketcosts. Preferred provider organizations – PPOs contract with hospital and provider networks to help control costs. While they will cover services outside of the network, the cost is higher than going in-network.
Going out of network is discouraged with high out-of-pocketcosts. Preferred provider organizations – PPOs contract with hospital and provider networks to help control costs. While they will cover services outside of the network, the cost is higher than going in-network.
this year and at a faster clip in 2024 as inflation hits medical costs. ” At the same time the labor market is still very tight, requiring businesses to continue offering attractive pay and benefitpackages. 24% said they would up employee cost-sharing, but by less than the projected increase.
Offering a high-deductible health plan as part of an employee benefitspackage, therefore, may be a strategic option for your organization. Employees must pay the deductible out of pocket before the plan contributes to covered care costs. Are you giving your workers the benefits they want?
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