Remove 2024 Remove Health Insurance Remove Out of Pocket Cost
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Budgeting and Prepping for Open Enrollment

InterWest Insurance Services

If you are running a business, you need to get an early start on preparations for your small group health plan open enrollment, particularly now as so much confusion abounds about the state of health insurance in the country. Going out of network is discouraged with high out-of-pocket costs.

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Budgeting and Prepping for Open Enrollment

InterWest Insurance Services

If you are running a business, you need to get an early start on preparations for your small group health plan open enrollment, particularly now as so much confusion abounds about the state of health insurance in the country. Going out of network is discouraged with high out-of-pocket costs.

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Health Plans Covering Fewer Drugs, Imposing More Restrictions

InterWest Insurance Services

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.

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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).

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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.

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Insulin Makers Cap Prices for Insured Individuals

InterWest Insurance Services

Finally, Sanofi two days later announced that it would cap the out-of-pocket cost of its most popular insulin, Lantus, at $35 per month for people with private insurance. In the small group market, the median cost health plan enrollees pay is $54 per month, while one-quarter pay $83.

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What is a High-Deductible Health Plan (HDHP)?

Higginbotham

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. Many people find health insurance terms to be confusing.