InterWest Insurance Services

JULY 13, 2023

Employers who were surveyed for a new report expected that group health insurance premiums would increase 5.4% this year and at a faster clip in 2024 as inflation hits medical costs. 39% offer a medical plan with no or a low deductible or cost-sharing (e.g., copay plan). copay plan).

Employment 98

Employment Out of Pocket Cost Health Insurance Health Savings Account 98

Higginbotham

SEPTEMBER 16, 2024

Are you offering your employees health insurance 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.

Deductions 52

Deductions Deductible Health Savings Account Health Insurance 52

InterWest Insurance Services

NOVEMBER 25, 2022

They also cover the minimum deductibles that qualify programs as high-deductible health plans (HDHPs), which an HSA must be attached to under law. Every year, the employee must decide how much they want their employer to deduct (pre-tax) from their paycheck to set aside in their HSA. 7,750 for family coverage (up $450).

401(k) 98

401(k) Deductions Deductible Flexible Spending Account 98

InterWest Insurance Services

JANUARY 5, 2023

Despite group health insurance costs expected to rise 5.4% With Americans increasingly struggling to pay their health care bills, more employers are shying away from only offering their workers high-deductible health plans (HDHPs) that reduce premiums up front for higher out-of-pocket costs for workers.

Out of Pocket Cost 92

Out of Pocket Cost Employment Health Insurance Deductions 92

InterWest Insurance Services

DECEMBER 26, 2024

The percentage of employers who are covering new and trendy weight-loss drugs has risen in 2024, continuing a trend of increasing coverage despite the costs, according to a new survey. And, as costs continue rising on average 5.25% in 2024, employers are taking a number of steps to manage costs.

Employment 98

Employment Pharmaceutical Medical Health Insurance 98

InterWest Insurance Services

AUGUST 15, 2024

As prescription drug costs continue growing and pricey new pharmaceuticals add to health plans’ cost burdens, some carriers are starting to reduce the number of medications they’ll cover and are imposing new barriers to accessing the most expensive ones. This is referred to as a pharmacy deductible.

Out of Pocket Cost 98

Out of Pocket Cost Pharmaceutical Deductions Deductible 98

InterWest Insurance Services

AUGUST 31, 2023

A new report by Aon warns employers to expect average group health insurance costs to increase 8.5% in 2024, as inflation starts hitting the cost of delivering care as well as pharmaceuticals. The report predicts that employers will pay an average of $15,088 in 2024, compared to the average this year of $13,906.

Pharmaceutical 98

Pharmaceutical Hospitality Health Insurance Medical 98

InterWest Insurance Services

DECEMBER 10, 2024

The percentage of employers who are covering new and trendy weight-loss drugs has risen in 2024, continuing a trend of increasing coverage despite the costs, according to a new survey. And, as costs continue rising on average 5.25% in 2024, employers are taking a number of steps to manage costs.

Employment 97

Employment Pharmaceutical Medical Health Insurance 97

InterWest Insurance Services

JUNE 22, 2023

That includes those on employer-sponsored group health plans and plans purchased on a government-run exchange. The changes mean some or many of your employees will see significant reductions in their pharmaceutical outlays, particularly if they have high copays or deductibles. for a single vial and $139.71

Insurance 95

Insurance Out of Pocket Cost Pharmaceutical Deductions 95

InterWest Insurance Services

JANUARY 28, 2025

Employees who are unfamiliar with how to access care using their group health insurance can inflate your plan costs and how much they pay out of pocket. With health plans absorbing a portion of ER costs, decisions like this can negatively affect your plan as well.

Health Insurance 57

Health Insurance Insurance Education Deductions 57

Higginbotham

JUNE 9, 2023

P CORI Fees Due July 31, 2023 The Affordable Care Act (ACA) requires health insurance issuers and self-insured plan sponsors to pay Patient-Centered Outcomes Research Institute fees (PCORI fees). Eligible individuals with self-only HDHP coverage will be able to contribute $4,150 to their HSAs for 2024, up from $3,850 for 2023.

Deductions 52

Deductions Deductible Health Insurance Taxes 52

McDermott Will & Emery Employee Benefits

DECEMBER 19, 2024

The Mental Health Parity and Addiction Equity Act (MHPAEA) generally requires group health plans and health insurance issuers to ensure that financial requirements (such as copays and deductibles), quantitative treatment limitations (such as visit limits), and nonquantitative treatment limitations (such as prior authorization and concurrent review) (..)

Health Insurance 52

Health Insurance Deductions Deductible Insurance 52

Empuls

AUGUST 27, 2024

In this all-encompassing guide, we look at the best available options concerning Employee Benefits Options in 2024, different types, and significance, along with best practices in designing a benefits package to suit the workforce's needs. Health insurance Arguably, this is the most important prerequisite of a good benefits package.

Family and Medical Leave Act 40

Family and Medical Leave Act Employee Benefits 401(k) Benefits Package 40

Sodexo Engage

SEPTEMBER 16, 2024

Refurbished Tech daniel.rhodes Mon, 09/16/2024 - 09:49 Refurbished Tech A sustainable, free-to-implement, trusted employee benefits scheme that saves employees money and supports corporate CSR & ESG initiatives Book a demo Buy Savings of up to 60% on all the big name refurbished tech devices, saving the pocket and the planet.

Net Pay 59

Net Pay Deductions Deductible Salary 59

Higginbotham

JANUARY 12, 2024

Health Savings Account A Health Savings Account (HSA) is a type of employee-owned account that is designed to work with high-deductible health insurance plans. Cons to an HSA Individuals who are not enrolled in high-deductible health plans cannot open or contribute to HSAs.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Deductions Deductible 52

Higginbotham

APRIL 30, 2024

According to the International Foundation of Employee Benefits Plans (IFEBP) , employers project a seven percent increase in health insurance costs for 2024. Fully-Insured Health Plan A fully-insured plan is a traditional health insurance plan. The employer, employees or both pay the premium.

Insurance 52

Insurance Employee Benefits Health Insurance Medical 52

Sodexo Engage

SEPTEMBER 16, 2024

Refurbished Tech daniel.rhodes Mon, 09/16/2024 - 09:49 Refurbished Tech A sustainable, free-to-implement, trusted employee benefits scheme that saves employees money and supports corporate CSR & ESG initiatives Book a demo Buy Savings of up to 60% on all the big name refurbished tech devices, saving the pocket and the planet.

Net Pay 52

Net Pay Deductions Deductible Salary 52

Higginbotham

NOVEMBER 2, 2022

The following commonly offered employee benefits are subject to these limits: High deductible health plans (HDHPs) and health savings accounts (HSAs); Health flexible spending accounts (FSAs); 401(k) plans; and. The Kaiser Family Foundation (KFF) recently released its 24th annual Employer Health Benefits Survey.

401(k) 52

401(k) Flexible Spending Account Health Savings Account Flexible Spending 52

Higginbotham

AUGUST 15, 2023

23, 2023, the Departments of Labor, Health and Human Services and the Treasury (Departments) issued FAQs on the prohibition of gag clauses under the transparency provisions of the Consolidated Appropriations Act, 2021 (CAA). Plans Must Submit Gag Clause Attestations by Dec. 31, 2023 On Feb. Effective Dec. Effective Dec.

Health Insurance 52

Health Insurance Insurance Electronics Deductible 52

HR Professionals Magazine

MARCH 6, 2023

Typically, that would include laws such as the Employee Retirement Income Security Act (ERISA), the Consolidated Omnibus Budget Reconciliation Act (COBRA), the Affordable Care Act (ACA), and the Health Insurance Portability and Accountability Act (HIPAA).

Medical 52

Medical IT Health Savings Account Deductions 52

Empuls

DECEMBER 24, 2024

According to WTW’s 2024 Global Benefits Attitudes Survey , 75% of employees are likelier to stay with an employer offering a strong benefits program. Some of its key components include: Health insurance: Covers medical expenses. Balancing costs with the value these benefits provide is crucial for financial stability.

Retirement Plan 40

Retirement Plan Health Insurance Benefits Package Healthcare 40

HR Professionals Magazine

JUNE 28, 2023

This does not apply to consumers with commercial insurance plans who may pay the full price for medications under high-deductible plans. 6 CivicaRx , a non-profit drug manufacturer owned by several Blues plans, intends to manufacturer affordable insulins in 2024. They will be available in vials and prefilled pens.

Healthcare 52

Healthcare Manufacturing Out of Pocket Cost Medical 52

Empuls

JULY 16, 2024

  These incentives include subsidies for gym memberships, rebates on health insurance premiums based on program participation, or even direct contributions to employee Health Savings Accounts (HSAs).  Here are some key factors to consider when designing your incentive strategy:  1.

Food 52

Food Health Savings Account Health Insurance Bonuses 52

Higginbotham

MARCH 17, 2022

Transparency in Health Coverage. As we discussed in our CAA webinar last July and our January compliance update, new transparency in coverage requirements apply to group health plans and health insurers in the individual and group markets. Links and Resources . Transparency in coverage FAQs were released on Aug.

Health Insurance 52

Health Insurance Out of Pocket Cost Insurance Health Savings Account 52

Vantage Circle

JANUARY 9, 2024

Quick Summary This blog lists the Top 15 HCM Software Platforms after a rigorous review of the top-performing HCMs in the HR space in 2024. Benefits Administration : Manages employee benefits, such as health insurance, retirement plans, and other perks.

Software 65

Software Payroll Global Payroll Human Resources 65

Higginbotham

JULY 7, 2022

1, 2023, group health plans and health insurance issuers must make an internet-based price comparison tool available to participants, beneficiaries and enrollees. 2024 Plan Years: For plan years beginning on or after Jan. Accordingly, group health plans with a calendar year plan (Jan. 1 – Dec. 1 – Dec.

Overtime 52

Overtime Retirement Plan Health Insurance Insurance 52

WEX Inc.

OCTOBER 17, 2024

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.

Employee Benefits 59

Employee Benefits Flexible Spending Account Health Savings Account Out of Pocket Cost 59

InterWest Insurance Services

APRIL 22, 2022

House of Representatives has passed legislation that would cap the out-of-pocket cost of insulin at $35 a month for people with group or private health insurance. People who used to pay less than $100 a month for the vital medication are sometimes paying more than $1,000, depending on their health insurance coverage.

Out of Pocket Cost 98

Out of Pocket Cost Insurance Health Insurance Deductions 98