Remove 2024 Remove Employment Remove Out of Pocket Cost
article thumbnail

IRS Loosens Preventive Care Coverage Rules

InterWest Insurance Services

New guidance issued by the IRS expands the types of preventive care benefits that high-deductible health plans are required to cover with no out-of-pocket costs on the part of plan enrollees. The changes are aimed at reducing out-of-pocket costs for diabetes-related expenses, certain cancer screenings and contraceptives.

article thumbnail

Employers Expect Higher Premiums, Little to No Cost-Shifting

InterWest Insurance Services

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. 24% said they would up employee cost-sharing, but by less than the projected increase. copay plan). copay plan).

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Employers Prioritizing Enhanced Benefits in New Year, Not Cost-Cutting

InterWest Insurance Services

Despite group health insurance costs expected to rise 5.4% this year, the tight labor market is forcing employers to prioritize enhancing benefits over cost-cutting measures, according to a new report by Mercer. The expected health insurance cost growth of 5.4% What employers are doing. Cost-cutting.

article thumbnail

Budgeting and Prepping for Open Enrollment

InterWest Insurance Services

With recent new regulations, options have changed for employers and you need to stay focused on maximizing your outcomes within your budget. Going out of network is discouraged with high out-of-pocket costs. Preferred provider organizations – PPOs contract with hospital and provider networks to help control costs.

article thumbnail

Budgeting and Prepping for Open Enrollment

InterWest Insurance Services

With recent new regulations, options have changed for employers and you need to stay focused on maximizing your outcomes within your budget. Going out of network is discouraged with high out-of-pocket costs. Preferred provider organizations – PPOs contract with hospital and provider networks to help control costs.

article thumbnail

Insulin Makers Cap Prices for Insured Individuals

InterWest Insurance Services

market, in March 2023 announced that they will cap the cost of insulin for people with private insurance plans. That includes those on employer-sponsored group health plans and plans purchased on a government-run exchange. Out of that population, 8.4 Three drugmakers, which account for roughly 90% of the insulin in the U.S.

article thumbnail

Employee Mental Health Leave Requests Skyrocketing

InterWest Insurance Services

Consider adding a direct primary care benefit, which allows workers and covered family members unlimited appointments with their primary care physician with no out-of-pocket costs. Employers nationwide are responding to the employee mental health crisis by expanding their leave programs.