Why this insurer designed health plans with no deductibles or copays
Employee Benefit News
NOVEMBER 17, 2023
Fred Turner, CEO of Curative, explains why employers need to break away from traditional health plans.
Deductible Deductions Insurance 
Higher deductibles, premiums and co-pays: Aflac previews healthcare in 2024
Employee Benefit News
NOVEMBER 1, 2023
Jeri Hawthorne, CHRO at Aflac, breaks down the gap between employer-provided benefits and employees' needs.
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Trending Sources
Trends Pushing Auto Insurance Rates Higher
InterWest Insurance Services
FEBRUARY 18, 2025
Automobile insurance companies are struggling to keep up with the rising cost of collision insurance claims, and that’s forcing them to raise rates at a steady clip. Insurers have responded by hiking collision insurance premiums and becoming more selective about the drivers and businesses they will insure.
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Fully Insured vs Self-Insured vs Level-Funded: What Does It All Mean To The Small Employer?
Fringe Benefit Analysts
OCTOBER 17, 2024
Small employers looking for ways to control their group health insurance costs are more closely examining what it means to be “ fully insured.” What Is a Fully Insured Health Plan? These individuals or employers are then free to accept the new premium rates or shop around with other insurance carriers. What Is Pooling?
4 considerations when choosing employee benefits for the first time
WEX Inc.
OCTOBER 2, 2024
To take advantage of an HSA, you need to participate in an HSA-eligible health plan (or high-deductible health plan). HSA-eligible health plans typically have lower premiums but higher deductibles. Assess your ability to cover the deductible before choosing this plan.
Are Your Benefits Enough to See Employees Through a Crisis?
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.
Auto Insurance: Strategies to Save
Money Talk
NOVEMBER 15, 2022
One of the largest items in household budgets is car insurance. According to Bankrate, the average annual cost of car insurance in June 2022 was $1,771 per year ($148 per month) for full coverage and $545 for just the minimum coverage required by state law. Do you want to save money on car insurance without sacrificing needed coverage?
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Insurance Deductible Reset: End of Year Tips
BerniePortal
SEPTEMBER 23, 2021
As the time nears for organizations to renew their health plan , many employees may become concerned if their health insurance deductibles are also set to renew. If an employee is on the cusp of meeting their deductible when it comes time for their health insurance plan to reset, it can be an understandable worry.
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IRS Loosens Preventive Care Coverage Rules
InterWest Insurance Services
DECEMBER 5, 2024
New guidance issued by the IRS expands the types of preventive care benefits that high-deductible health plans are required to cover with no out-of-pocket costs on the part of plan enrollees. Benefits under HDHPs typically do not kick in until the enrollee has met their deductible.
How to Create a Pay Stub for Employees?
HR Lineup
JANUARY 29, 2024
A pay stub not only serves as a record of an employee’s earnings but also provides crucial information about deductions, taxes, and other financial details. Deductions: Federal and state taxes Social Security and Medicare contributions Health insurance premiums Retirement contributions 4. Deductions and Taxes 1.
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Understanding Service Rewards and Taxation Benefits in the US
Vantage Circle
AUGUST 1, 2024
A significant return on investment from awards is augmented by their tax deductibility. As per the Internal Revenue Service, you can deduct up to $400 for non-qualified employee achievement awards and $1,600 for qualified awards given to the same employee within a year.
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Four High Deductible Health Plan Mistakes to Avoid
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.
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What to do if your zero-deductible health plan goes away
PeopleKeep
FEBRUARY 16, 2022
There are many factors to consider when it comes to selecting health insurance. One option that appeals to many employers is the zero-deductible health plan because it means the insurance company will start accepting claims from the very beginning. One of the biggest factors is how high your out-of-pocket costs will be.
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Choosing between a low- or high-deductible health plan
PeopleKeep
DECEMBER 10, 2021
For most people, open enrollment is that time of year when choosing health insurance is crucial. It can be difficult to make sure you have the coverage you need without paying more than you have to.
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Here Are The 4 Important Insurance Terms Gen Z Employees Need To Know
Best Money Moves
OCTOBER 1, 2024
The 4 Important Insurance Terms Gen Z Employees Need To Know. Gen Z employees often struggle to understand common insurance terms. Insurance is a complex topic, no matter how experienced you are. However, Gen Z employees are particularly susceptible to a lack of education on insurance terms and policies.
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Thirteen Tax Topics for Older Adults
Money Talk
MARCH 4, 2022
Increased Standard Deduction - Taxpayers age 65+ (and those who are blind) get an increased standard deduction on federal income taxes. For singles in 2022, the standard deduction is $14,700 ($12,950 + $1,750 additional for age 65+). of AGI can be deducted on Schedule A.
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How Can Companies Contain Health Insurance Costs?
Pacific Prime
MARCH 12, 2025
There are many ways companies can handle skyrocketing health insurance costs while maintaining competitive benefits packages such as considering copayment and deductibles, encouraging preventative care, or removing overpriced providers from their provider lists. The post How Can Companies Contain Health Insurance Costs?
Small business tax credits and deductions you should know about
Business Management Daily
MARCH 3, 2023
Tax credits vs. tax deductions The end result of taking tax credits and tax deductions is basically the same: You will pay less tax. But there is a difference between the two: Tax deductions reduce your taxable income. Any item you take as a tax credit can’t be used again as a tax deduction. In 2023, this amount is $2.89
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Coping With the Aftermath of a Disaster
Money Talk
JUNE 16, 2023
Of course, policy deductibles (e.g., $500) If you have material you would like to remove immediately, because it could be a health hazard, ask your insurance agent for instruction. Keep copies of information provided to the insurance company. Reach Out for Help - Review the settlement process outlined in your insurance policy.
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What is Hire-to-Retire (HTR)?
HR Lineup
SEPTEMBER 24, 2024
Benefits Administration: Offering competitive benefits such as health insurance, retirement plans, paid time off, and wellness programs. Key Features: Automated payroll processing: Technology ensures timely and accurate payments by automating payroll tasks such as salary calculations, tax deductions, and overtime.
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The Employee Healthcare Crisis: This is How To Help
Best Money Moves
SEPTEMBER 25, 2024
American families are in the midst of a healthcare crisis and employer-sponsored health insurance can’t keep up. Even with support from employee health insurance programs, millions of American families cannot afford the full care they need. Having health insurance does not guarantee access to healthcare or the ability to afford it.
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HSA vs. FSA: See how you’ll save with each
WEX Inc.
NOVEMBER 14, 2024
You must be enrolled in a high-deductible health plan (HDHP) to be eligible, which lowers you insurance premiums. Health savings accounts have a triple-tax advantage, meaning distributions for qualified medical expenses and investment returns are tax-free, and contributions are tax-deductible.
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Waiving HDHP Deductibles Has Little Effect on Premiums, Study Says
InterWest Insurance Services
AUGUST 10, 2022
Employers who offer health savings account-eligible high-deductible health plans (HDHPs) to employees can significantly expand pre-deductible coverage for certain drugs used to manage chronic conditions — with only a tiny effect on premiums. no deductible and no coinsurance), the net impact on premiums was an increase of 4.7%.
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Ten Benefits of Self-Employment in Later Life
Money Talk
OCTOBER 11, 2023
Tax Write-Off for Self-Employment Tax - On line 15 of Schedule 2 (for a 1040 form), self-employed workers can write off the deductible portion of their self-employment tax (calculated on Schedule SE), which will lower adjusted gross income (AGI), a trigger for many other taxes.
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Congress Reopens Door For HSA With No-Deductible Telehealth, But With a Hole
Proskauer's Employee Benefits & Executive Compensa
MARCH 22, 2022
Effective April 1, 2022, high-deductible health plans can once again offer first-dollar coverage for telehealth and other remote services without making participants ineligible for health savings account (“HSA”) contributions.
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Ten Upsides of Inflation
Money Talk
JANUARY 18, 2023
Not surprisingly, much of the news was negative; e.g., soaring prices for food, gas, utilities, cars, insurance, and more. Standard Deduction - The amount of income taxpayers can shelter from income taxes rises with inflation (e.g., for couples filing jointly, the standard deduction is $27,700 in 2023 vs. $25,900 in 2022).
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Tax Planning Tools and Techniques
Money Talk
MARCH 22, 2023
I recently attended a NY Public Library webinar about tax planning and below is a summary: Standard Deduction - 2023 saw the largest ever automatic adjustment to standard deductions since indexing was introduced in the 1980s. A larger standard deduction means that taxpayers can shelter more income from income taxes.
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Not Knowing Legal vs. Illegal Payroll Deductions Can Cost You Big Time
Patriot Software
AUGUST 22, 2022
And chances are, you probably have to deal with a few types of payroll deductions, like 401(k) or health insurance, when paying employees. But, what happens when you have to deal with a deduction that you don’t have consent for, like a correction for a payroll error? […] READ MORE.
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From deductibles to wellness: Why benefits options matter
WEX Inc.
JULY 20, 2023
Deductible options The words “health”, “coverage”, “insurance”, and “deductible” were among the most frequent words to appear when participants were asked in our survey what was missing from their benefits. Specific responses included: “A lower deductible or copay options would be an improvement.”
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Role of Payroll Software in Eliminating Compliance Risks
Qandle
JANUARY 29, 2025
5 Streamlines Benefit Deductions Benefit deductions, such as healthcare premiums, retirement contributions, and other employee benefits, can be complex to calculate. Payroll software simplifies this process by automatically applying the correct deductions based on employee benefits selections.
Twelve Tax Planning Topics for 2022
Money Talk
APRIL 14, 2022
Here are 12 tax topics to consider: Itemized Deductions- Only about 10% of taxpayers can itemize since the Tax Cuts and Jobs Act went into effect in 2018. Strategies to garner a tax benefit for charitable gifts to qualified charities include “bunching” deductions into one tax year and setting up and funding a donor advised fund.
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More Employers Cover Weight-Loss Drugs: Survey
InterWest Insurance Services
DECEMBER 10, 2024
That requires clinical coordination between clinicians, pharmacy benefit managers and insurers. increase in health insurance costs, even after implementing cost-reduction measures. Employers are also increasingly covering in vitro fertilization. 70% of organizations with more than 20,000 employees, up from 47%.
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Windstorm insurance for homes: Are you covered?
Higginbotham
OCTOBER 30, 2024
Does your homeowners’ insurance provide adequate coverage for hurricanes and other windstorms? If it is missing from your home insurance policy, you may still be able to add windstorm coverage. Is windstorm insurance the same as hurricane insurance? For this reason, the term “hurricane insurance” can cause confusion.
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Mid-Year Financial Tweaks and Tasks
Money Talk
JUNE 28, 2023
Use this information to adjust payroll deductions for a health care FSA (up or down). Search for banks that offer attractive rates and FDIC insurance and consider moving your money. Another cash equivalent asset to consider is FDIC-insured certificates of deposit (CDs) sold by online banks and brokerage firms.
Basics of Tax-Efficient Investing
Money Talk
AUGUST 3, 2022
Consider Tax-Saving Gifts - Only about 10% of taxpayers today can itemize deductions and it generally requires a plan to aggregate sufficient deductible expenses that exceed the standard deduction amount ($12,950 for singles and $25,900 for married couples filing jointly).
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Financial Planning Tips for Self-Employed Older Adults
Money Talk
JULY 25, 2024
Contributions to non-Roth accounts are often tax-deductible, thereby reducing adjusted gross and, ultimately taxable, income. Don’t Overlook Health Insurance Tax Premiums - Self-employed older adults who pay their health insurance premiums (including Medicare) may be eligible to deduct these expenses as an adjustment to gross income.
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Considerations when choosing a health plan for the first time
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. Learn more about HSA-eligible health plans (or high-deductible health plans ) in our graphic below.
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Health Savings Accounts (HSAs) and Medicare: Eligibility, contributions and more
Higginbotham
MARCH 24, 2025
If you have qualified employer-sponsored health insurance, you may want to delay Medicare enrollment past age 65. To be eligible to contribute to an HSA, you must not have any other health coverage (such as Medicare) that pays out before you meet your high-deductible health plans deductible. Can you contribute to HSAs after 65?
OASDI Tax: Old-Age, Survivors, and Disability Insurance (OASDI) Tax Deductions
Patriot Software
JUNE 18, 2024
One of the taxes you must withhold from employee wages is the Old-Age, Survivors, and Disability Insurance (OASDI) tax. Tax withholding is an essential piece of the payroll puzzle. You must also contribute an employer portion of the OASDI tax. OASDI tax is more commonly referred to as Social Security tax.
Most Workers Make Bad Health Insurance Decisions
InterWest Insurance Services
SEPTEMBER 9, 2022
Even though the majority of workers receive health insurance coverage on the job, a new survey has found that many of them understand surprisingly little about their health plans and are leaving money on the table. The study shows just how little many people know about their health insurance coverage. What you can do.
How to Cut Health Care Costs
Money Talk
DECEMBER 16, 2021
This includes expenses for health insurance as well as deductibles, copayments, and coinsurance when medical bills occur. Find an App- Use an app to get information about the cost of various medical procedures for people with different types of insurance in different parts of the country.
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5 Best Tax Software for 2022
HR Lineup
JANUARY 2, 2022
These include ease of use, affordability, ability to identify credits and deductions, customer service, to name a few. As a leader in the field, Paychex Inc provides solutions for benefits, payroll, human resources, and insurance services. This company was founded in 1971 and has grown its workforce to at least 14,000 employees.
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5 Best Payroll Software 2021
HR Lineup
SEPTEMBER 1, 2021
It should also ensure that employees receive accurate information concerning their wages/salaries or any other deductions. As a leader in the field, Paychex Inc provides solutions for benefits, payroll, human resources, and insurance services. The software should be very effective to manage taxes and employee benefits.
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2022 Health Insurance Outlook, Changes
InterWest Insurance Services
DECEMBER 9, 2021
In addition, new rulemaking is likely to be introduced in 2022 that will affect health plans, including non-discrimination rules for wellness plans and new rules governing what must be included on insurance plan ID cards. 1, 2022, HDHPs must charge enrollees for telehealth services if they have not yet met their deductible. .
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