article thumbnail

It’s Time for a Mid-Year Financial Check-Up

Money Talk

401(k) or 403(b) plan). Among the culprits: climate change, higher costs for labor and supplies to repair houses and cars, and higher out-of-pocket costs for employer-provided health insurance. Now is a good time to explore money-saving strategies to reduce insurance costs. child care, loan) ends.

401(k) 189
article thumbnail

5 Benefits to Help Employees Cope with Inflation

Best Money Moves

A few great ways for employers to assist employees are auto-enrolled retirement plans and increasing 401(k) contributions. According to SHRM, 16% of large and midsize US employers plan to raise 401(k) contributions or reinstate a contribution match for 2022. Health Care Assistance.

401(k) 115
Insiders

Sign Up for our Newsletter

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

article thumbnail

5 Must-Have Benefits for Millennial Employees

Best Money Moves

401(k) Retirement Fund Match was in the top three desired employee benefits for more than 35 percent of millennials. Research by the West Health Institute/NORC at the University of Chicago found more than 40 percent of Americans didn’t see a physician when they were sick or injured because of high healthcare costs.

401(k) 97
article thumbnail

As Health Care Costs Bite, Here’s How You Can Help Your Workers

InterWest Insurance Services

Even if you are providing them with a robust plan, there are often out-of-pocket cost-sharing and deductibles to contend with. For employees in high-deductible health plans, the costs can be steep. Many preventative services are covered with no out-of-pocket cost-sharing, but checkups usually are not.

article thumbnail

16+ types of employee benefits you should consider

Genesis HR Solutions

Accident insurance helps employees pay for the medical and out-of-pocket costs that you may incur after an accidental injury. 401(k) & 403(b) Retirement Plans. A 401(k) or a 403(b) is a retirement plan named for the section of the tax code that governs it. ( eHealthinsurance.com ). Retirement.

401(k) 98
article thumbnail

Having a Baby? Use Your Pre-Tax Funds to Save

Benefit Resource Inc.

Even with health insurance, labor and delivery can cost around $5,000, and without insurance, it can be upwards of $40,000. Fortunately, one great way to help with out-of-pocket costs is utilizing a Health Savings Account (HSA). ‍Know your needs, set your goals, and look ahead to the future.

Taxes 72
article thumbnail

Examples of fringe benefits by category

Business Management Daily

HMO plans often have lower premiums and out-of-pocket costs compared to other plans. Preferred Provider Organization (PPO) : Employees can visit any doctor or specialist without a referral, both in and out of the plan’s network. PPO plans usually have higher premiums and out-of-pocket costs compared to HMO plans.