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.” — Benefits executive at a financial services company They viewed their companies as paternalist, meaning they have a responsibility to also help their workers make better health insurance decisions. “It would make workers feel like you were cutting and running.” “A big part was trepidation.
With over half of today's workforce enrolled in high-deductiblehealth plans (51%), a majority of insured individuals are now on the hook for deductibles of at least $1,400. In doing so, you'll be helping them to become better consumers of healthcare and more satisfied enrollees in high deductiblehealth plans.
25% can’t define terms such as “deductible” or “copay.” By helping your company’s employees bridge the health insurance information gap, you can help them live healthier, happier lives while lowering healthcare costs and boosting several crucial metrics for your organization, including engagement, productivity, and morale.
Wellness incentives recognize the multifaceted nature of employee health and create a culture that prioritizes well-being. The rewards themselves can be diverse, ranging from reduced healthcare premiums to contributions to healthsavingsaccounts, gym memberships, or even cash bonuses.
Some State Insurance Mandates May Affect HealthSavingsAccount Eligibility. These laws allow consumers to use coupons from drug manufacturers to reduce their out-of-pocket expenses at the pharmacy, but require their health insurance companies to credit the full cost of the drugs toward their deductibles.
We’ve written many times about the tax code’s prohibition on double-dipping — getting a double tax benefit on the same tax item, like taking a deduction and a tax credit for the same wages paid to the same employee. But the principle also applies if employees have flexible spending accounts or healthsavingsaccounts.
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