Higginbotham

SEPTEMBER 16, 2024

While not ideal for everyone, a high-deductible health plan can be very appealing to some workers, especially when it’s paired with a health savings account. Offering a high-deductible health plan as part of an employee benefits package, therefore, may be a strategic option for your organization.

Deductible 52

Deductible Deductions Health Savings Account Health Insurance 52

InterWest Insurance Services

MARCH 1, 2024

As a result, many employers are increasingly turning to voluntary employee benefits, which allow them to provide valued, high-demand benefits to employees at little or no cost to the company. Voluntary benefits have been becoming more popular among employers in recent years as unemployment falls.

Voluntary Benefits 98

Voluntary Benefits Disability Insurance Deductible Deductions 98

InterWest Insurance Services

MARCH 7, 2024

HSAs allow your employees to put away funds to pay for future medical expenses. Usually, these accounts are funded with pre-tax deductions from your employees’ paychecks, but if they didn’t max out their contributions last year, they still can do so up until the tax-filing deadline.

401(k) 98

401(k) Health Savings Account Pharmaceutical Deductible 98

Benefit Resource Inc.

AUGUST 13, 2019

The term “high deductible health plan” has often carried with it a negative connotation for employees. According to a recent article from SHRM covering research from the Employees Benefit Research Institute (EBRI), enrollment in an HDHP promotes more conscious health care purchase decisions. Like this blog?

Deductible 45

Deductible Deductions Health Savings Account Employee Enrollments 45

InterWest Insurance Services

DECEMBER 9, 2021

As we enter 2022, there are a number of changes on the horizon that plan sponsors need to be aware of as they will affect group health plans as well as employees enrolled in those plans. 1, 2022, HDHPs must charge enrollees for telehealth services if they have not yet met their deductible. . That comes to an end Dec.

Health Insurance 98

Health Insurance Insurance Insurance Carriers Deductible 98

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. The employer can also contribute to its employees’ HSAs to encourage participation.

Out of Pocket Cost 83

Out of Pocket Cost Deductible Deductions Voluntary Benefits 83

InterWest Insurance Services

JANUARY 17, 2023

There are a number of issues that Medicare-eligible workers face that your human resources staff may be asked about, such as: Penalties for late Medicare enrollment, Whether the employer plan is the primary or secondary payer of claims, and. The following are considerations for employers faced with workers nearing 65.

Health Insurance 97

Health Insurance Insurance Health Savings Account Hospitality 97

Business Management Daily

SEPTEMBER 9, 2021

FSAs are primarily funded by employees through pretax deductions, although employers may make contributions. Tax advantage: Employees’ and employers’ contributions are excluded from employees’ wages and aren’t subject to income or FICA taxes. Employers set their maximum contributions when designing the plan.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Employment Flexible Spending 52

InterWest Insurance Services

NOVEMBER 10, 2022

One of the most difficult aspects of annual open enrollment is reaching workers who are disengaged from the process and never bother signing up for your group health plan and other benefits they could take advantage of. Young workers will often forgo their employer’s health plan as they are still covered by their parents’ plans.

401(k) 97

401(k) Health Savings Account Health Insurance Insurance 97

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. Copays, co-insurance, and deductibles for medical care.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Medical Healthcare 98

HR Digest

MARCH 28, 2023

A 401(k) plan is a type of retirement account offered by employers to their employees. It allows employees to save a portion of their pre-tax income for retirement. The contributions are deducted from the employee’s paycheck before taxes are withheld, which reduces their taxable income. How does 401(k) work?

401(k) 64

401(k) roth 401(k) Retirement Plan IT 64

Higginbotham

AUGUST 13, 2024

Employers can help their employees by offering worksite benefits like hospital indemnity insurance and other supplemental benefits. And, for most hospital indemnity plans, there are no deductibles, provider networks or other complications to worry about. Encourage employees to seek care when they need it.

Hospitality 52

Hospitality Insurance Voluntary Benefits Benefits Package 52

HR Digest

DECEMBER 17, 2019

Health Insurance: The workers will be entitled to enroll with the comprehensive health plan which will help them overcome the future financial assistance that may arise due to an unknown event or accident that harms their health or body. The benefits will be equitably offered to all the employees.

Paid Vacation 64

Paid Vacation Overtime Health Insurance Insurance 64

Benefit Resource Inc.

JUNE 1, 2023

” Although rising premium rates are an on-going challenge for employers, a primary (and popular) method to overcome this is to implement a high-deductible health plan (HDHP). Overcoming the Challenge Implement an HDHP with Complementary Accounts A growing number of employers have implemented an HDHP as a choice for employees.

Flexible Spending Account 52

Flexible Spending Account Healthcare Health Savings Account Deductible 52

HR Professionals Magazine

APRIL 4, 2022

Many employers’ tech stacks consist of disparate systems for payroll/HRIS and benefits administration (ben admin). This means if you change an employee from hourly to salary in the ben admin platform, the payroll system would not be updated. If so, consider how this might impact the enrollment window you allow for your employees.

Payroll 52

Payroll Payroll System Deductible Deductions 52

Higginbotham

JULY 12, 2022

For example: In an individual coverage health reimbursement arrangement, the health reimbursement arrangement is offered in place of a group health plan, allowing employees to purchase a health plan on their own. Healthcare.gov says that employees must be enrolled in individual health plans, such as a Marketplace plan, to use the funds.

Out of Pocket Cost 52

Out of Pocket Cost Flexible Spending Account Medical Deductible 52

Fringe Benefit Analysts

AUGUST 15, 2022

Many receive this coverage as a benefit of their employment. Employers who do not offer coverage can have a more difficult time attracting recruits and retaining employees. All members contribute to the plan, as well as the employer, to help reduce health care costs for every member. Read on for a thorough overview.

Insurance 52

Insurance Health Insurance IT Deductible 52

HR Digest

APRIL 2, 2024

Unlike traditional benefit accounts such as Flexible Spending Accounts (FSAs) or Health Savings Accounts (HSAs), LSAs are primarily designed to cover a broad range of expenses related to employees’ physical, mental, and financial wellness. HSAs can be funded by both employer and employee.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Medical Flexible Spending 52

Corporate Synergies

AUGUST 6, 2018

Health savings accounts can be a good deal for employees. High deductible health plans (HDHPs) are on the rise as a growing number of employers turn to consumer-directed health plans to try to curb costs—the portion of employees enrolled in HDHPs rose from 26.3% Use Employee Education to Educate about HSA Value.

401(k) 40

401(k) Health Savings Account Retirement Plan Deductible 40

Business Management Daily

NOVEMBER 30, 2021

Flexible spending accounts (FSAs) are employer-established accounts that allow you to put aside pre-tax dollars from your paycheck into a special account to be used for eligible health or dependent care expenses. The card is issued by the benefits provider that the employer has chosen to work with for the FSA.

Retail 52

Retail Healthcare Medical Flexible Spending Account 52

HR Professionals Magazine

MAY 4, 2023

A 2022 Harris poll found that 72% of employees said “they wish someone would tell them what the best health insurance for their unique situation is.” AI Enabled Benefits Education According to a recent study by the Hartford, “76% of employers say educating employees about benefits” remains challenging.

Technology 52

Technology Utilities Payroll Deductible 52

Winston Benefits

MARCH 8, 2018

If employees requested more communication or decision-support tools on your enrollment portal, they might be disappointed and discouraged if they don’t see any updates. Even just updating your enrollment booklet online and adding new FAQs can be a tremendous help to your employee population. What If We Add New Benefits?

Technology 45

Technology Health Savings Account Voluntary Benefits Employee Enrollments 45

PeopleStrategy

NOVEMBER 12, 2019

Assessing open enrollment and employees’ overall involvement in benefit offerings should be a big part of any year-end HR checklist. Obviously you and the providers you select for your benefit offerings need to know how many employees enroll in each plan. According to attorney Robert Y.

Overtime 56

Overtime Payroll Employee Enrollments Deductible 56

Benefit Resource Inc.

DECEMBER 10, 2021

However, it highlights the need to use multiple communication channels – especially when it comes to Open Enrollment. We conducted a survey earlier this year to evaluate how employers planned to communicate during Open Enrollment. Most employers have access to these communication methods already, so there’s no additional cost.

Payroll 40

Payroll Employee Enrollments Deductible Deductions 40