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 98

Health Insurance Insurance Deductible Deductions 98

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) 97

401(k) Health Savings Account Health Insurance Insurance 97

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

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 98

Out of Pocket Cost Voluntary Benefits Health Insurance Health Savings Account 98

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.

Deductible 98

Deductible Deductions Healthcare Flexible Spending Account 98

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 98

Medical Health Insurance Out of Pocket Cost Deductible 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 98

Health Insurance Employment Out of Pocket Cost Health Savings Account 98

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) 98

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

Deductible 98

Deductible Deductions Out of Pocket Cost Health Savings Account 98

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 97

Voluntary Benefits Flexible Spending Account Deductible Deductions 97

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 98

Employment Out of Pocket Cost Health Insurance Health Savings Account 98

WEX Inc.

DECEMBER 18, 2024

COBRA notifications COBRA provides employees and their families the option to continue health insurance coverage during qualifying events. The information in this blog post is for educational purposes only. WEX receives compensation from some of the merchants identified in its blog posts. It is not legal or tax advice.

Family and Medical Leave Act 52

Family and Medical Leave Act Flexible Spending Account Flexible Spending Insurance Carriers 52

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 98

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

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 98

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

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) 98

401(k) Deductions Deductible Health Savings Account 98

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 98

Education 401(k) Deductible Deductions 98

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) 96

401(k) Deductions Deductible Health Savings Account 96

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 98

Out of Pocket Cost Health Savings Account Health Insurance Medical 98

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 98

Out of Pocket Cost Health Savings Account Medical Health Insurance 98

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 98

Out of Pocket Cost Health Savings Account Deductible Deductions 98

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) 98

401(k) Deductions Deductible Flexible Spending Account 98

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 96

Flexible Spending Account Pharmaceutical Health Savings Account Flexible Spending 96

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 98

Out of Pocket Cost 401(k) Deductible Deductions 98

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.

Health Savings Account 98

Health Savings Account Deductible Deductions Health Insurance 98

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 Deductible Deductions Healthcare 82

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

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 83

Out of Pocket Cost Deductible Deductions Voluntary Benefits 83

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

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.

Deductible 52

Deductible Deductions Health Savings Account Health Insurance 52

InterWest Insurance Services

DECEMBER 14, 2021

Employers looking for ways to decrease their group health insurance outlays over the past decade have been turning to high-deductible health plans as they offer lower up-front premiums. These employees may instead be overpaying for their premiums if they are not in an HDHP with an attached health savings account (HSA).

Deductions 97

Deductions Deductible Health Savings Account Medical 97

Benefit Resource Inc.

JUNE 6, 2019

Screening mammograms are free through almost every insurance plan. From ACA marketplace insurance, to private and group health insurance. Thankfully, she was able to pay through our Health Savings Account (HSA) with her benefits card. Most of us think that mammograms are free.

Out of Pocket Cost 61

Out of Pocket Cost Health Savings Account Mining Healthcare 61

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

Benefit Resource Inc.

MARCH 12, 2019

This may be the shortest blog on pre-tax benefits you will ever read. In sum, you submit a claim for reimbursement in order to pay yourself back from your pre-tax account. When employees sign up for benefits like health insurance and pre-tax benefits. Witness the transformation. Pre-tax benefits. Not kidding.

Taxes 63

Taxes Flexible Spending Account Health Savings Account Medical 63

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

Business Management Daily

APRIL 29, 2024

Different benefits appeal to different teams, but what matters most is providing more than just the bare minimum—health insurance, workers’ compensation, and a competitive salary. In this blog, we’ll talk about different types of fringe benefits and how employers can make the most of what’s available.

Out of Pocket Cost 84

Out of Pocket Cost PTO 401(k) Deductible 84

Benefit Resource Inc.

FEBRUARY 18, 2020

Health Savings Accounts are not subject to COBRA, but they play an important role in benefits continuation. Health Savings Accounts tend to get a little trickier. By contrast, the underlying health insurance is subject to COBRA. So really, there is no reason to have COBRA for the HSA.

Taxes 40

Taxes Flexible Spending Account Health Savings Account Flexible Spending 40