InterWest Insurance Services

JANUARY 17, 2023

If you decide to keep them on the company’s plan, how you handle their insurance depends on your size: Fewer than 20 employees — Employees who work for these firms will need to enroll in Medicare when they turn 65. Medicare will be the primary payer of health insurance claims for these workers under the law.

Health Insurance 76

Health Insurance Insurance Health Savings Account Hospitality 76

InterWest Insurance Services

OCTOBER 31, 2024

Simple health insurance is insufficient to carry the load. Over 80% of middle-market respondents report that they got their health insurance, disability insurance and retirement plan all through their employer. Meanwhile, six in 10 have no life insurance in place outside of the workplace.

Disability Insurance 88

Disability Insurance Life Insurance Deductions Deductible 88

InterWest Insurance Services

JANUARY 17, 2023

Besides health insurance and a 401(k) plan, other benefits that employees value highly are generous paid time off and flexible or remote work, according to a new survey. “A multi-generational workforce is a huge benefit for companies,” said Liz Ahmed, executive vice president of People and Communications at Unum.

401(k) 85

401(k) Health Insurance Insurance Voluntary Benefits 85

InterWest Insurance Services

AUGUST 5, 2022

The biggest concern among employers is the increasing costs that employees have to shoulder for their health benefits. Employers are starting to realize that a high-deductible health plan with an attached health savings account is not a good fit for all of their employees. workers with more medical debt.

Health Insurance 92

Health Insurance Insurance Deductions Deductible 92

WEX Inc.

AUGUST 15, 2023

Whether you're transitioning from your parents' insurance, landed your first full-time job, or are simply obtaining coverage for the first time, choosing health plans and employee benefits options can be overwhelming. For starters, let’s look at a few considerations when evaluating health plans for the first time.

Deductions 98

Deductions Deductible Healthcare Flexible Spending Account 98

WEX Inc.

SEPTEMBER 4, 2024

Whether you’re transitioning from your parents’ insurance, landed your first full-time job, or are simply obtaining coverage for the first time, choosing health plans and employee benefits options can be overwhelming. For starters, let’s look at a few considerations when evaluating health plans for the first time.

Deductions 52

Deductions Deductible Flexible Spending Account Healthcare 52

Qandle

DECEMBER 5, 2023

In this detailed blog post, we’ll explore the key components of payroll processing and how organizations can streamline this complex function. Understanding Payroll Processing: At its core, payroll processing involves calculating employee compensation, including salaries, wages, bonuses, and deductions. What is payroll rules?

Payroll 79

Payroll Net Pay Gross Pay Payroll System 79

Qandle

OCTOBER 10, 2024

In this blog, we will explore how a payroll system helps conduct effective payroll audits, outline common payroll audit procedures, and explain how businesses can benefit from leveraging technology. This process typically reviews payroll reports, employee information, timekeeping data, tax filings, and benefit deductions.

Payroll Audit 82

Payroll Audit Payroll System Payroll Deductions 82

InterWest Insurance Services

JUNE 13, 2024

Employer adoption of specialized accounts that they fund to help reimburse employees when they buy health insurance on their own is surging in 2024. Employers fund these accounts with money that employees can use to purchase health insurance, often on Affordable Care Act exchanges.

Health Insurance 85

Health Insurance Insurance Deductions Deductible 85

PeopleKeep

MARCH 7, 2022

If you’re offering a group health plan with a high deductible to save money, a special type of health reimbursement arrangement (HRA) has been specifically designed for employers like you: the integrated HRA. You’re looking to reduce healthcare costs. You want to attract and retain top talent.

Health Insurance 88

Health Insurance Deductions Deductible Healthcare 88

InterWest Insurance Services

OCTOBER 17, 2024

workers would accept a job with a slightly lower salary if it offered better health care and medical coverage. The main driver in workers prioritizing benefits is the rapidly rising cost of group health insurance premiums and out-of-pocket costs, according to the study by Voya Financial.

Out of Pocket Cost 80

Out of Pocket Cost Voluntary Benefits Health Insurance Health Savings Account 80

InterWest Insurance Services

NOVEMBER 2, 2023

A new study’s findings that many workers have a poor understanding of their employer-sponsored health insurance benefits, presents an opportunity for businesses to extend targeted support to staff during open enrollment. The study authors recommend a return-to-basics approach during open enrollment for these workers.

Health Insurance 81

Health Insurance Deductions Deductible Insurance 81

InterWest Insurance Services

JULY 18, 2024

With the increase of high-deductible health plans and the resulting potential high out-of-pocket expenses workers may face, they are gravitating towards products that can provide much-needed cash in case of an unexpected event.

Voluntary Benefits 77

Voluntary Benefits Hospitality Health Insurance Deductions 77

Qandle

DECEMBER 5, 2023

In this detailed blog post, we’ll explore the key components of payroll processing and how organizations can streamline this complex function. Understanding Payroll Processing: At its core, payroll processing involves calculating employee compensation, including salaries, wages, bonuses, and deductions. What is payroll rules?

Payroll 52

Payroll Net Pay Payroll Software Gross Pay 52

InterWest Insurance Services

AUGUST 15, 2024

It’s also important that they understand how much of a certain drug their health plan will cover and what their estimated out-of-pocket costs will be, so that they can budget accordingly. Formularies explained The list of drugs that an insurance plan will cover or pay for is called a formulary. That’s the trade-off.

Out of Pocket Cost 84

Out of Pocket Cost Pharmaceutical Deductions Deductible 84

InterWest Insurance Services

MAY 16, 2024

After enrollment in high-deductible health plans soared during the last decade, 2022 marked the first year that enrollment in these plans fell among American workers since 2013, according to a new report by ValuePenguin. The insurance-review website found that 54% of U.S. HSAs can be moved when an employee switches jobs.

401(k) 82

401(k) Deductions Deductible Health Savings Account 82

InterWest Insurance Services

JULY 4, 2024

workers choosing high-deductible health plans has leveled off during the last two years, uptake has been growing rapidly among one segment of the working population: Gen Z employees. HDHPs feature higher deductibles and more out-of-pocket expenses in exchange for lower premiums upfront. While the number of U.S.

Voluntary Benefits 76

Voluntary Benefits Flexible Spending Account Deductions Deductible 76

InterWest Insurance Services

AUGUST 1, 2023

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. Point of service – A POS health plan is a mix between an HMO and a PPO-style health insurance policy.

Family and Medical Leave Act 92

Family and Medical Leave Act Out of Pocket Cost Deductions Deductible 92

InterWest Insurance Services

JULY 25, 2024

The 2023 “Aflac WorkForces Report” found that while 51% of employees have a solid understanding of their total annual cost for health care coverage and care, just 39% have a full understanding of their health insurance policy. Additionally, 30% of employees say they need more information surrounding their benefits.

Deductions 82

Deductions Deductible Voluntary Benefits Medical 82

WEX Inc.

JULY 24, 2024

These communication tactics can be especially useful if you’re updating major health insurance options, like switching to a high-deductible health plan (HDHP) or adding a health savings account (HSA) and want to measure the outcomes of these changes. It is not legal or tax advice.

Health Savings Account 59

Health Savings Account Taxes Health Insurance Deductions 59

InterWest Insurance Services

AUGUST 22, 2023

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. Point of service – A POS health plan is a mix between an HMO and a PPO-style health insurance policy.

Family and Medical Leave Act 86

Family and Medical Leave Act Out of Pocket Cost Deductions Deductible 86

InterWest Insurance Services

JUNE 6, 2024

After enrollment in high-deductible health plans soared during the last decade, 2022 marked the first year that enrollment in these plans fell among American workers since 2013, according to a new report by ValuePenguin. The insurance-review website found that 54% of U.S. HSAs can be moved when an employee switches jobs.

401(k) 71

401(k) Deductions Deductible Health Savings Account 71

Money Talk

JUNE 29, 2022

Last year, I wrote a blog post about mid-year financial check-up s for the OneOp Personal Finance team. In it, I urged a review of tax deductions/credits, tax withholding, budgeting/cash flow, flexible spending accounts, financial goal progress, and investment portfolio status. Automated Payments Review - Payments for utilities (e.g.,

401(k) 246

401(k) Out of Pocket Cost Finance Flexible Spending Account 246

CorpStrat

DECEMBER 15, 2022

Health insurance may be one of the most critical annual purchases since it impacts your physical, mental, and financial wellness. Unfortunately, selecting a health insurance plan can feel overwhelming. This article explores six common missteps related to selecting a health insurance plan.

Health Insurance 52

Health Insurance Out of Pocket Cost Deductions Deductible 52

Qandle

NOVEMBER 27, 2023

First and foremost, it requires a thorough understanding of applicable laws and regulations related to wages, taxes, and deductions. These may include health insurance, retirement contributions, and other perks. Effective payroll management involves several key components. The payroll process involves several key steps.

Payroll Manager 69

Payroll Manager Payroll Gross Pay Payroll Software 69

InterWest Insurance Services

SEPTEMBER 23, 2024

They have three specific flexible benefits for your employees to choose from: Pre-tax health insurance premium deductions Premium-only plans allow your employees to elect to withhold a portion of their pre-tax salary to pay for their portion of the premium contribution to their employer-sponsored plan.

Flexible Spending Account 68

Flexible Spending Account Benefits Package Deductions Deductible 68

WEX Inc.

AUGUST 23, 2023

Examples of voluntary benefits are: Supplemental life insurance Critical illness Pet insurance Voluntary benefits are additional perks that an employer can offer at a discounted group rate, with the employee either fully or partially paying for the benefits through a payroll deduction. Go to our webpage.

Voluntary Benefits 98

Voluntary Benefits Disability Insurance Life Insurance Insurance 98

InterWest Insurance Services

MARCH 16, 2023

The poll of 26 health benefits decision-makers at large firms, carried out by The Commonwealth Fund and the Employee Benefits Research Institute (EBRI), found that despite rising premium and health care costs, they felt obligated to offer health insurance instead of shunting employees to exchanges.

Health Insurance 90

Health Insurance Employment Out of Pocket Cost Health Savings Account 90

InterWest Insurance Services

MARCH 4, 2022

As rising health insurance premiums and out-of-pocket costs for health care are burdening workers, more employers are looking for ways to help their staff put aside money for those expenses. Fortunately, there is another option: a health reimbursement arrangement (HRA). Qualified medical expenses. How HRAs work.

Medical 85

Medical Health Insurance Out of Pocket Cost Deductions 85

Qandle

SEPTEMBER 20, 2024

Payroll services ensure accurate and timely payment of wages, managing deductions, benefits, and tax withholdings. Core Features of HRMS Payroll Management: Automates payroll calculations, tax deductions, and paycheck generation. Recruitment and Onboarding: Facilitates the hiring process and streamlines new employee onboarding.

Payroll Manager 77

Payroll Manager Payroll Payroll Software Management 77

InterWest Insurance Services

JANUARY 18, 2024

With more than half of all private sector employees enrolled in high-deductible health plans , it’s important that employers have in place certain protocols to ensure that they are a success. Providers in an insurer’s network may charge vastly different rates for the same procedure.

Out of Pocket Cost 57

Out of Pocket Cost Deductions Deductible Voluntary Benefits 57

InterWest Insurance Services

JULY 13, 2023

Employers who were surveyed for a new report expected that group health insurance premiums would increase 5.4% In fact, 64% of large employers (with 500 or more workers) plan to enhance their health insurance and well-being benefits to stay competitive for talent and to keep their staff happy, Mercer found. copay plan).

Employment 84

Employment Out of Pocket Cost Health Insurance Health Savings Account 84

WEX Inc.

SEPTEMBER 18, 2024

When approaching open enrollment, do … Evaluate available health insurance plans. Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans.

401(k) 52

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

COMPackage

JULY 31, 2024

Employees may struggle to understand terms like “copay,” “deductible,” or “HSA.” Quantifying the Intangible Benefits such as health insurance, retirement plans, and paid time off are valuable but can be difficult to quantify in monetary terms.

401(k) 40

401(k) Health Insurance Retirement Plan Benefits Package 40

WEX Inc.

SEPTEMBER 14, 2023

When approaching open enrollment, do … Evaluate available health insurance plans. Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans.

401(k) 98

401(k) Health Savings Account Flexible Spending Account Healthcare 98

Qandle

SEPTEMBER 19, 2023

It involves the calculation, processing, and distribution of employee salaries, taxes, and other deductions. Accuracy and efficiency in payroll processing are crucial to ensure employee satisfaction, regulatory compliance, and the overall financial health of your organization.

Payroll 52

Payroll Deductions Deductible Taxes 52

InterWest Insurance Services

JULY 20, 2022

Keep in mind that the ritual of choosing a benefits package is a brand-new experience for people who are new to the workforce, and you should prepare to educate new employees on how to effectively choose and use their new coverages, as well as all the details like premiums, deductibles and out-of-pocket expenses.

Education 87

Education 401(k) Deductions Deductible 87