BerniePortal

JUNE 23, 2021

If an employee enrolls in a high-deductible health plan (HDHP) mid-year, how does that affect the amount they can contribute to their health savings account (HSA)? Changing life events in the middle of the year usually means changes to your health insurance plan.

Health Savings Account 64

Health Savings Account Employee Enrollments Health Insurance Deductible 64

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?

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Deductible Deductions Health Savings Account Employee Enrollments 45

InterWest Insurance Services

MARCH 1, 2024

Multiple studies have consistently shown that a robust set of employee benefits is a vital component of an overall compensation package. 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.

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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.

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Out of Pocket Cost Deductible Deductions Voluntary Benefits 83

InterWest Insurance Services

MAY 23, 2024

The dilemma for employers has often been whether to keep the Medicare-eligible employee on the company health plan or cut them free on Medicare. For small employers, it’s legal to set up an arrangement like that, as long as doing so is at the employee’s discretion. Part D, meanwhile, covers prescription drug costs.

Employment 98

Employment Medical Employee Enrollments Health Insurance 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?

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

InterWest Insurance Services

JANUARY 17, 2023

If you plan to discontinue coverage for employees who are turning 65, you should communicate with them well ahead of the time they need to sign up for Medicare. How it works: Let’s say your employee has foot surgery: Medicare pays first up to the limits of its coverage. Discontinuing group health coverage.

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Health Insurance Insurance Health Savings Account Hospitality 97

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. Also consider that one in three employees are uncertain about their ability to cover future health care expenses.

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401(k) Health Savings Account Health Insurance Insurance 97

Fringe Benefit Analysts

AUGUST 15, 2022

Employers who do not offer coverage can have a more difficult time attracting recruits and retaining employees. Employers select a plan, then offer it to their employee who may decide to participate or not. How To Enroll. For employees, enrolling in a group health insurance plan may occur during a specific period.

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Business Management Daily

NOVEMBER 15, 2021

Many employees are coming to the end of the year and realizing that they still have a lot of money in their FSA accounts that they need to spend. They may also be questioning whether they have a need for an FSA and if so, how much they should choose to have deducted each month. Copays, co-insurance, and deductibles for medical care.

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Flexible Spending Account Flexible Spending Medical Healthcare 98

HR Digest

DECEMBER 17, 2019

This agreement takes place when the new employee joins the company and gives his consent to the compensation letter wherein the declaration about the remuneration and benefits associated with the job positions are clearly stated. The benefits will be equitably offered to all the employees.

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Paid Vacation Overtime Health Insurance Insurance 64

Higginbotham

AUGUST 13, 2024

And, for most hospital indemnity plans, there are no deductibles, provider networks or other complications to worry about. Your employees may use their hospital indemnity insurance benefits to cover deductibles, copays, out-of-network costs and other expenses associated with a hospital stay. However, education is key.

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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. Employees usually contribute to HSAs on a pretax basis.

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Insperity

NOVEMBER 24, 2014

A side-by-side comparison of premiums, contributions and/or deductibles for each option. An explanation of any changes from the previous year and any actions your employees may need to take. From there, create a communication schedule to remind employees of the benefits enrollment period. Take advantage of technology.

Insurance 79

Insurance Employee Enrollments Hospitality Deductible 79

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.

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HR Professionals Magazine

APRIL 4, 2022

That fee can vary based on many factors and may come in the form of a one-time “setup charge”, a PEPM (per employee per month) or a flat, recurring monthly fee. Similarly, you’ll want to know if deduction information flows in both directions, or if it only flows from the ben admin system to the payroll system via the API.

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Payroll Payroll System Deductible Deductions 52

Business Management Daily

SEPTEMBER 27, 2019

An ounce of prevention may be worth a pound of cure, but up until this point, high-deductible health plans have been boxed in regarding tax-free reimbursements for most preventive care services or items. Reason: With certain exceptions, HDHPs can’t start reimbursing employees until they meet those high deductibles.

Health Savings Account 40

Health Savings Account Deductible Deductions Flexible Spending Account 40

Higginbotham

JULY 12, 2022

In the simplest terms, a medical expense reimbursement plan refunds employees for covered medical costs. Employees may face uncovered costs in numerous ways: They have to pay a share of the premium for insurance. They have to pay a deductible. Make sure employees know about the plan and remind them to use their benefits.

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Out of Pocket Cost Flexible Spending Account Medical Deductible 52

HR Professionals Magazine

MAY 4, 2023

By Kisha Moliere It is common to think of benefits administration technology (ben admin) platforms as a tool that only facilitates employee benefits enrollment and transfers benefits eligibility data between carrier and payroll systems. Be mindful that not all decision support tools are created equal.

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Winston Benefits

FEBRUARY 21, 2018

Your employees make a lot of decisions during their work day, but one of the most important decisions they’ll make comes once a year: what to do about their employee benefits. Tech-based tools can make it easier for employees to plan, budget and plug the gaps in their insurance needs. Decision tools on the enrollment portal.

Life Insurance 45

Life Insurance Employee Enrollments Deductible Deductions 45

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% Your Employees Still Don’t Understand HDHP and HSA Value.

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401(k) Health Savings Account Retirement Plan Deductible 40

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

Winston Benefits

MAY 15, 2018

However, the benefits enrollment process can be tedious for HR, and both tedious and confusing for employees. Benefits enrollment technology can streamline this process, making it more efficient and less cumbersome for everyone. What do you need to know about benefits enrollment technology to make the right choice?

Technology 45

Technology Employee Enrollments Deductible Deductions 45

HR Digest

APRIL 2, 2024

Employees can then expand those funds on a selected category and reap the benefits of working at a generous organization. Health-related expenses are regulated by the Affordable Care Act (ACA), and they need to be integrated into a high-deductible health plan (HDHP) to be considered valid.

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Flexible Spending Account Health Savings Account Medical Flexible Spending 52

Business Management Daily

NOVEMBER 30, 2021

The Internal Revenue Service (IRS) states that if the use of these provider cards meets certain substantiation methods, the employee may not have to provide additional information to the health FSA provider including receipts. Employees may not seek FSA reimbursement for costs that will be reimbursed by their health plan.

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PeopleStrategy

NOVEMBER 12, 2019

Throw open enrollment into the mix and your HR department has its work cut out from now until year-end (and beyond). Here are a few areas you want to be sure to include on your checklist: Addressing open enrollment and benefit plan participation. I-9s and employee authorization. According to attorney Robert Y.

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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. However, it highlights the need to use multiple communication channels – especially when it comes to Open Enrollment. Recruitment -> Employee Retention. Likely, it means having to learn to do more with less.

Payroll 40

Payroll Employee Enrollments Deductible Deductions 40

Insperity

NOVEMBER 24, 2014

A side-by-side comparison of premiums, contributions and/or deductibles for each option. An explanation of any changes from the previous year and any actions your employees may need to take. From there, create a communication schedule to remind employees of the benefits enrollment period.

Insurance 40

Insurance Employee Enrollments Hospitality Deductible 40

Business Management Daily

AUGUST 30, 2024

The cafeteria-plan rules require employees to designate their pretax deductions before the start of the plan year. For calendar-year plans, employees will be making changes very soon for the 2025 plan year. Employees enroll their kids in a new, state-of-the-art day care center. A day care center raises it rates.

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Deductible Deductions Employee Enrollments Medical 52