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With more than half of all private sector employeesenrolled in high-deductible health plans , it’s important that employers have in place certain protocols to ensure that they are a success. Other voluntary benefits like critical illness insurance can fill in the gaps when employees have a high deductible.
With more than half of all private sector employeesenrolled in high-deductible health plans , it’s important that employers have in place certain protocols to ensure that they are a success. Other voluntary benefits like critical illness insurance can fill in the gaps when employees have a high deductible.
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. Plan-comparison tools.
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. HSAs: These accounts are owned by the employee; so the employee can keep the account when switching jobs or retiring. Manage enrollment. HRAs are owned by the employer.
How voluntary benefits work Voluntary benefits are arranged by employers but either paid for by staff via payroll deduction or by the employers themselves. The employer deducts any fees or premiums for these benefits from employee paychecks and forwards them in a single batch to the benefit vendors.
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