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

WEX Inc.

JULY 24, 2023

And it’s a solution you might already be offering: the health savings account. These accounts provide another way for your employees to diversify their efforts to prepare for retirement. We cover some of the survey findings in this blog post and infographic. IRS Publication 969 outlines health savings accounts.

Retirement Plan 98

Retirement Plan 401(k) Health Savings Account Taxes 98

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 Consulting 59

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

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

InterWest Insurance Services

FEBRUARY 20, 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.

Deductions 86

Deductions Deductible Out of Pocket Cost Health Savings Account 86

WEX Inc.

JANUARY 4, 2023

COBRA can provide important health insurance security when you’ve experienced job loss or another qualifying event. And election of COBRA can affect your ability to use the reimbursement accounts in which you were participating prior to your COBRA eligibility. The information in this blog post is for educational purposes only.

Employee Benefits 52

Employee Benefits Flexible Spending Account Health Savings Account Flexible Spending 52

InterWest Insurance Services

NOVEMBER 11, 2024

It’s almost time for year-end small group open enrollment and you need to drive engagement so that your employees can make informed decisions about their health insurance options. We want to help you help your employees understand all of their options so that they can purchase a plan that is appropriate for their situation.

Flexible Spending Account 64

Flexible Spending Account Pharmaceutical Health Savings Account Flexible Spending 64

PeopleKeep

SEPTEMBER 26, 2022

When considering health insurance policies for your organization, you may have wondered if it’s better to have a low deductible health plan (LDHP) or a high deductible health plan (HDHP). HDHPs can come with significant savings for employers and employees, especially if you maximize them.

Deductions 52

Deductions Deductible Health Savings Account Health Insurance 52

InterWest Insurance Services

NOVEMBER 10, 2022

These workers are likely going uncovered for their health insurance and risk serious outlays if they have to see a doctor or go to the emergency room. They also miss out on preventative services that insurers are required to provide without cost-sharing and that can help them maintain their health.

401(k) 76

401(k) Health Savings Account Health Insurance Insurance 76

InterWest Insurance Services

JULY 4, 2024

Study findings The trend of more Gen Z workers gravitating to HDHPs makes sense, since these plans are best suited for younger individuals who are generally healthier and have fewer health problems than their older counterparts — Gen Xers and Baby Boomers. Across generations, higher-salaried individuals choose HDHPs over traditional plans.

Voluntary Benefits 78

Voluntary Benefits Flexible Spending Account Deductions Deductible 78

PeopleKeep

DECEMBER 20, 2021

In recent years, increasing health insurance costs have become inevitable. Many nonprofit benefit packages include a high deductible health plan (HDHP) to keep costs in check. 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

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 92

Health Insurance Employment Out of Pocket Cost Health Savings Account 92

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 86

Employment Out of Pocket Cost Health Insurance Health Savings Account 86

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 94

Family and Medical Leave Act Out of Pocket Cost Deductions Deductible 94

InterWest Insurance Services

MAY 16, 2024

Indeed, workers who are enrolled in HDHPs are 30% less confident that they will know what their health care costs will be, compared to those who are enrolled in PPOs, which usually have lower deductibles, according to recent research by Arizent , a publisher of health insurance news.

401(k) 84

401(k) Deductions Deductible Health Savings Account 84

InterWest Insurance Services

JUNE 16, 2022

One in five workers surveyed said that health care and health insurance are a major factor when deciding to accept a job, compared with only 13% of human resources executives, according to the “2022 Health at Work” survey by Quest Diagnostics.

401(k) 90

401(k) Health Insurance Health Savings Account Human Resources 90

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 89

Family and Medical Leave Act Out of Pocket Cost Deductions Deductible 89

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). These expenses are: Health insurance premiums.

Medical 88

Medical Health Insurance Out of Pocket Cost Deductions 88

COMPackage

AUGUST 10, 2023

Nearly all US companies guarantee access to 401(k) and health insurance. Many administrators often think that this time off is a part of an employee’s pay, but is it really any different than health insurance? And every employer wants to stand out with their employee benefits.

401(k) 52

401(k) Health Savings Account Health Insurance PTO 52

InterWest Insurance Services

JUNE 6, 2024

Indeed, workers who are enrolled in HDHPs are 30% less confident that they will know what their health care costs will be, compared to those who are enrolled in PPOs, which usually have lower deductibles, according to recent research by Arizent , a publisher of health insurance news.

401(k) 73

401(k) Deductions Deductible Health Savings Account 73

InterWest Insurance Services

JUNE 2, 2023

Employers offer flexible savings accounts and health savings accounts to their employees so they can build up funds with pre-tax dollars to pay for health care and related expenses.

Out of Pocket Cost 95

Out of Pocket Cost Health Savings Account Medical Health Insurance 95

InterWest Insurance Services

MAY 18, 2023

The study authors also surmised that it is often people who are new to health insurance who may be most attracted to HDHPs due to the lower premiums. If you have an individual or family HDHP, you can usually qualify to put money into an HSA to fund future health care expenditures.

Out of Pocket Cost 95

Out of Pocket Cost Health Savings Account Deductions Deductible 95

COMPackage

JULY 18, 2024

For instance, understanding the employer contribution to a health savings account (HSA) can motivate employees to enroll and contribute to it. For example, younger employees might prioritize tuition reimbursement options, while older employees might value robust health insurance plans.

Health Savings Account 40

Health Savings Account Utilities Health Insurance Benefits Package 40

COMPackage

JULY 17, 2024

For example, highlighting the employer contribution to a health insurance plan showcases its financial significance beyond the employee’s monthly premium. Increased Savings: When employees understand the employer contribution to their benefits, they are more likely to appreciate their value and utilize them effectively.

Health Savings Account 40

Health Savings Account Utilities Health Insurance Education 40

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 58

Out of Pocket Cost Deductions Deductible Voluntary Benefits 58

InterWest Insurance Services

JULY 20, 2022

To help these new recruits get the most out of the benefits you offer, you can start by focusing on the following: School them on health insurance. To many new Gen Z recruits, signing up for health insurance and actually using their benefits is a foreign concept.

Education 89

Education 401(k) Deductions Deductible 89

InterWest Insurance Services

JANUARY 27, 2023

Don’t cut back on health benefits — With the rising health insurance premiums, it may be tempting to offer high-deductible health plans with even higher deductibles. Urge any employees in HDHPs to sock away funds in their attached health savings accounts for future medical expenses.

Out of Pocket Cost 81

Out of Pocket Cost 401(k) Deductions Deductible 81

InterWest Insurance Services

NOVEMBER 25, 2022

The IRS has released the 2023 maximum contribution amounts for health savings accounts and flexible spending accounts. The changes, which the IRS releases in November each year, will affect contribution limits for HSAs, FSAs and 401(k) and other retirement accounts. 7,750 for family coverage (up $450).

401(k) 84

401(k) Deductions Deductible Flexible Spending Account 84

InterWest Insurance Services

MARCH 15, 2022

It’s no secret that most employees do not fully understand all of their health insurance benefits, which can lead to worse health outcomes and them spending more money than they need to for some medical procedures. A built-in HSA that actively promotes investing in the account throughout the year.

Out of Pocket Cost 91

Out of Pocket Cost Health Savings Account Health Insurance Medical 91

InterWest Insurance Services

DECEMBER 3, 2021

Avoid getting bogged down in health insurance jargon and keep it simple. Don’t think of it as talking down to your employees, because there’s a good chance some of them are not familiar with how health coverage works. That means breaking the benefits down to the basics in language anyone can understand.

Deductions 89

Deductions Deductible Health Savings Account Health Insurance 89

PeopleStrategy

NOVEMBER 1, 2023

Explain any legal requirements and compliance details, such as the Health Insurance Portability and Accountability Act (HIPAA), and how these affect employees. Offering health and wellness programs? That evaluation will set you up when you start back at the beginning of this blog post in several months.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Utilities Flexible Spending 52

Empuls

JULY 11, 2023

In this blog, we will discuss tax free or non taxable employee benefits. The primary purpose of this blog is to explore various tax free employee benefits and shed light on their advantages. Health insurance benefits Employer-provided health insurance is a widely offered benefit that often comes with tax advantages.

Employee Benefits 40

Employee Benefits roth 401(k) Flexible Spending Account 401(k) 40

PeopleStrategy

JULY 8, 2019

Guaranteed renew-ability : this term means that as long as premiums are being paid toward a health plan, the insurance company cannot drop a covered individual (the employee or his/her dependents).

Health Savings Account 82

Health Savings Account Deductions Deductible Healthcare 82

Flimp Communications

SEPTEMBER 25, 2024

As an HR professional, you deal with the consequences of health insurance illiteracy every day: Employees make poor choices based on incomplete knowledge or false assumptions, increasing frustration and driving up costs for your entire organization. Related: Health Insurance Key Terms, Explained. Wishing you good health!

Health Insurance 52

Health Insurance Insurance Health Savings Account Flexible Spending Account 52

Benefit Resource Inc.

OCTOBER 24, 2019

Now, which pre-tax account you can enroll in depends on what kind of health insurance you have. Type of Insurance Plan. Pre-tax Account You Can Enroll In*. Qualified high deductible health plan. Health Savings Account. Co-pay or co-insurance health plan.

Out of Pocket Cost 45

Out of Pocket Cost Flexible Spending Account Flexible Spending Health Savings Account 45

Benefits Notes

FEBRUARY 9, 2022

Examples include online or telephone ordering, and may be provided through a pharmacy or retailer, the plan or health insurance issuer directly, or any other entity on behalf of the plan. Reasonable shipping costs related to the OTC COVID-19 tests must be covered by the plan or issuer.

Flexible Spending Account 40

Flexible Spending Account Health Savings Account Retail Medical 40