InterWest Insurance Services

JULY 20, 2022

It always takes more time than usual to onboard new employees — particularly ones who are new to the workforce altogether — to your employee benefits plans. Deductibles — Explain how deductibles work and that depending on their plan they may pay the full price for health care services until they’ve met their deductible.

Education 98

Education 401(k) Deductible Deductions 98

Business Management Daily

SEPTEMBER 15, 2021

Offering an attractive employee benefits package helps lure top talent and encourages the retention of your best team members. Presenting a good employee benefits package often gives one employer an edge over another, especially in cases where basic salaries are relatively equal. There’s no one-size-fits-all answer.

Benefits Package 52

Benefits Package Family and Medical Leave Act Health Insurance PTO 52

Benefit Resource Inc.

AUGUST 6, 2021

Free Health Savings Account? Now, let’s assume those 100 employees contribute $2,000 a year each into their HSA through their pre-tax payroll deduction contributions. Based on the FICA tax rate of 7.65%, you’ll save $15,300. That covers the administrative costs and still leaves you with $12,000 in savings!

401(k) 76

401(k) Health Savings Account Deductible Deductions 76

InterWest Insurance Services

AUGUST 1, 2023

Besides the above, you will also need to decide if you want to reduce the premium for your organization and staff by offering high-deductible health plans. These plans can be either an HMO or a PPO, but they have the same feature of having a high deductible that needs to be met before benefits really kick in.

Family and Medical Leave Act 98

Family and Medical Leave Act Out of Pocket Cost Deductible Deductions 98

InterWest Insurance Services

AUGUST 22, 2023

Besides the above, you will also need to decide if you want to reduce the premium for your organization and staff by offering high-deductible health plans. These plans can be either an HMO or a PPO, but they have the same feature of having a high deductible that needs to be met before benefits really kick in.

Family and Medical Leave Act 98

Family and Medical Leave Act Out of Pocket Cost Deductible Deductions 98

InterWest Insurance Services

JULY 13, 2023

Employers said they are looking to manage growing group benefit costs without shifting costs to employees, as they realize that their staff are likely dealing with inflation in all facets of their lives, including their medical bills, according to Mercer’s “Survey on Health and Benefit Strategies for 2024.”

Employment 98

Employment Out of Pocket Cost Health Insurance Health Savings Account 98

InterWest Insurance Services

JUNE 16, 2022

Offering telemedicine as part of your benefits package can lead to substantial cost savings as it allows your employees to access health care professionals when they need them, 24/7. This can reduce the chances of trips to urgent care facilities and emergency rooms, which are both costly.

401(k) 98

401(k) Health Insurance Health Savings Account Human Resources 98

Insperity

JANUARY 27, 2022

Some states may also tax fringe benefits, so be sure to check with your state tax authority before designing a fringe benefits package. Examples of taxable fringe benefits include: Non-business use of company cars Cash (bonus pay) Gym memberships Paid personal time off. Must all employees receive the same benefits?

Employment 98

Employment Taxes Health Savings Account Benefits Package 98

Empuls

AUGUST 27, 2024

Now more than ever, employee benefit packages are considered important for the unwieldy terrain of today's job market. Only those organizations that understand how to use this most powerful approach to their advantage by including comprehensive benefits in kind do well in the market for acquiring and retaining key brainpower.

Family and Medical Leave Act 40

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

InterWest Insurance Services

SEPTEMBER 27, 2023

With answers and feedback in hand you can create a benefits package that is more appealing to them, which in turn gives you a competitive edge when attracting and retaining workers. Engage employees and solicit feedback through quarterly employee-benefits round table meetings. Get an early start If your plan year starts Jan.

Out of Pocket Cost 93

Out of Pocket Cost Flexible Spending Account Health Savings Account Health Insurance 93

Best Money Moves

JULY 8, 2020

HR trends forecast the most desired employee benefits for 2021 like financial wellness programs and flexible work arrangements. It’s time for employers to start planning their employee benefits packages for 2021. 9 Pet-Friendly Employee Benefits. 4 Paid Time Off.

Employee Benefits 111

Employee Benefits Out of Pocket Cost Flexible Spending Account Health Insurance 111

Empuls

DECEMBER 24, 2024

The evidence strongly supports that staff benefits are not merely perks but essential components of a successful employee engagement strategy. Companies that prioritize comprehensive and well-communicated benefit packages will likely see enhanced job satisfaction, reduced turnover, and improved productivity among their workforce. 

Retirement Plan 40

Retirement Plan Health Insurance Benefits Package Healthcare 40

Benefit Resource Inc.

MAY 27, 2021

Over the years, dental insurance has been shifting from a semi-rare fringe benefit to a standard component of most benefit packages. It’s a great partner plan if you have or want to enroll in a Health Savings Account (HSA). Copayments and dental plan deductibles.

Flexible Spending Account 75

Flexible Spending Account Flexible Spending Health Savings Account Health 75

PeopleKeep

DECEMBER 20, 2021

Each year, nonprofits must balance benefits and pay raises with their other organizational costs. Many nonprofit benefit packages include a high deductible health plan (HDHP) to keep costs in check.

Health Savings Account 52

Health Savings Account Pay Raise Health Insurance Benefits Package 52

Higginbotham

NOVEMBER 28, 2022

Employers and employees alike are looking for ways to make health care more affordable. Some are turning to Health Savings Accounts (HSAs). Although HSAs won’t work for everyone, the benefits of an HSA account make this an appealing option for some individuals. What is a Health Savings Account (HSA)?

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductible Deductions 52

Benefit Resource Inc.

APRIL 4, 2024

As an employer or HR manager, you’re constantly seeking ways to enhance your employee benefits package, ensuring it not only attracts top talent but also supports their financial well-being throughout their careers and into retirement. One often-overlooked gem in the world of benefits is the Health Savings Account (HSA).

401(k) 52

401(k) Retirement Plan Benefits Package Deductible 52

Genesis HR Solutions

SEPTEMBER 22, 2020

Health Savings Account (HSA). Sometimes referred to in the same conversation as an FSA, an HSA is a savings account that lets employees set aside money on a pre-tax basis to pay for qualified medical expenses. An HSA can be used only if employees have a qualified High Deductible Health Plan (HDHP).

401(k) 98

401(k) Employee Benefits roth 401(k) Disability Insurance 98

Benefit Resource Inc.

FEBRUARY 7, 2024

A key player in the balance between health and wealth is the health savings account (HSA). Beyond being a traditional healthcare benefit, HSAs provide a win-win situation for both employers and employees. The post The Harmony of Health and Wealth with HSAs appeared first on BRI | Benefit Resource.

Health Savings Account 52

Health Savings Account Healthcare Deductible Deductions 52

Benefit Resource Inc.

FEBRUARY 24, 2022

Position your benefits plans and the opportunities, so employees pay for their increasing out-of-pocket costs. The expansion of benefits for employees can provide the flexibility employees look for. That’s why you should give them a benefits package that caters to their specific needs and enhances the overall experience.

Out of Pocket Cost 75

Out of Pocket Cost Benefits Package Human Resources Health Savings Account 75

Business Management Daily

NOVEMBER 15, 2021

Open enrollment is underway for many companies right now and one benefits offering that may be on the menu this year is an FSA. Employers are constantly looking for ways to remain competitive in their benefits offerings, and an FSA is a great add-on to your benefits package. Wherever you fall, we have answers for you.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Medical Healthcare 98

Business Management Daily

APRIL 29, 2024

High-Deductible Health Plans (HDHPs) with Health Savings Accounts (HSAs) : HDHPs have lower premiums but higher deductibles compared to traditional health plans. Deductibles can be paid with tax-advantaged/tax-free spending accounts funded by employees and employers.

Out of Pocket Cost 84

Out of Pocket Cost PTO 401(k) Deductible 84

Flimp Communications

OCTOBER 18, 2019

More local governments are modifying their benefits packages to make them more attractive to new and longtime employees. Benefits have long been a strength for many governmental agencies and organizations. Some of them need low deductibles and high premiums because of existing medical conditions. Possible Solutions.

Government 56

Government Recruitment Health Savings Account Deductible 56

Benefit Resource Inc.

FEBRUARY 21, 2024

The Health, Wealth, Wellness Triangle has emerged as a framework that acknowledges the interconnectedness of personal health, financial stability, and overall wellness. The Health Component A cornerstone of the Health, Wealth, Wellness Triangle is, unsurprisingly, health itself.

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductible Deductions 52

Higginbotham

MAY 11, 2023

However, simply providing a benefits package is not enough. In order to maximize the value of employee benefits, management must understand the components of the plan and create effective policies to find the right insurance fit, encourage employee participation, manage costs and comply with regulations.

Insurance 52

Insurance Deductible Deductions Benefits Package 52

Higginbotham

JUNE 14, 2022

FSA programs can be a good fit for many employee health benefit programs, but before being able to decide, you may have some questions – for example, how do FSAs work? Flexible Spending Account vs. Health Savings Account. Savings Accumulation Timeframe. Eligible Health Plans. Typical Rules.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Deductible Deductions 52

Benefit Resource Inc.

MAY 2, 2023

Pre-tax benefits, such as Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs) , allow employees to set aside a portion of their pre-tax income to pay for healthcare-related expenses. This can include increasing the number of pre-tax deductions available to employees.

Employment 52

Employment Flexible Spending Account Benefits Package Healthcare 52

Higginbotham

JANUARY 12, 2024

Note that rules vary by account type, so check with the IRS for details on your organization’s specific health account. Attracting Talent: A robust benefits package can help set your company apart from other employers. If you want the employee to own the account, an HSA is likely the best fit.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Deductible Deductions 52

Higginbotham

OCTOBER 14, 2022

Different health plan types come with both advantages and disadvantages, including differences in cost, risk and employee involvement/education. Health insurance is a key element of any employee benefits package, but small business owners should consider offering other benefits as well.

Employee Benefits 52

Employee Benefits Family and Medical Leave Act Disability Insurance Paid Sick Leave 52

PeopleStrategy

OCTOBER 3, 2023

As workforces nationwide continue to become more multigenerational, HR and benefits professionals have the unique task of tailoring employee benefits that meet an increasingly diverse range of wants and needs. Ask about their benefit priorities, and use the feedback to inform your benefit offerings.

401(k) 52

401(k) Retirement Plan Parental Leave Health Savings Account 52

Higginbotham

FEBRUARY 21, 2023

Coinsurance Meaning in Health Insurance Plans HealthCare.gov says coinsurance is a percentage of covered health care expenses that the policyholder must pay after meeting the deductible. This results in savings for both you and the insurance company. Health plans usually have both a deductible and coinsurance or copays.

Health Insurance 52

Health Insurance Out of Pocket Cost Insurance Deductible 52

Higginbotham

OCTOBER 13, 2023

According to the Society for Human Resource Management (SHRM), Lifestyle Spending Accounts are more common in Canada, but they’re starting to receive attention in the U.S., especially as employers look at options beyond standard benefits packages to help improve recruitment, retention and turnover. However, there’s a catch.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Flexible Spending Taxes 52

Higginbotham

MAY 21, 2024

Mental Health Coverage and Parity Under the Mental Health Parity and Addiction Equity Act , most group health plans and health insurance issuers are required to offer mental health benefits that are no more restrictive than medical and surgical benefits in terms of financial requirements and treatment limitations.

Health Savings Account 52

Health Savings Account Health Insurance Financial Counseling Disability Insurance 52

Benefit Resource Inc.

NOVEMBER 22, 2022

With a pre-tax benefit, you’re able to deduct the cost of your benefits from your taxes before you calculate what you owe. There are several different types of pre-tax benefits that you may be eligible for, including Flexible Spending Accounts (FSA), Health Savings Accounts (HSA), and Commuter Benefits.

Employee Benefits 52

Employee Benefits Flexible Spending Account Flexible Spending Health Savings Account 52

Insperity

APRIL 4, 2012

While waiting for the Supreme Court decision, many employers find themselves trying to balance their employees’ needs with rising health care costs. Higher Deductibles. The single most popular way to manage the high cost of providing health care to employees is the use of high-deductible insurance , which continues to gain popularity.

Flexible Spending Account 40

Flexible Spending Account Deductible Deductions Health Insurance 40

Benefit Resource Inc.

OCTOBER 30, 2018

The BRight Ideas Quiz administered by Benefit Resource, Inc. in 2017 revealed several key areas within pre-tax benefits where participant understanding needs improvement. In this section, we’ll explore areas related to Flexible Spending Accounts, Health Savings Accounts, and Health Reimbursement Accounts.

Flexible Spending Account 56

Flexible Spending Account Taxes Health Savings Account Flexible Spending 56

Higginbotham

JANUARY 27, 2023

Although it may seem easier to boost wages and forget about employee benefits, due to potential tax breaks, offering health insurance can be a financially sound strategy. A benefits package can also boost your company’s bottom line by supporting a healthy workforce. Dental and vision insurance. Learn more.

Health Insurance 52

Health Insurance Insurance Benefits Package Out of Pocket Cost 52

Insperity

AUGUST 10, 2011

Consider monthly premiums and out-of-pocket co-pays and deductibles. . As a standard rule of thumb, plans with lower monthly premiums will have higher deductibles. If your staff is mostly made up of young, healthy adults who only see the doctor when they’re sick, their need for health insurance may be low. PPOs vs HMOs.

Health and Welfare 40

Health and Welfare Deductible Deductions Out of Pocket Cost 40