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3 in 4 Workers Would Accept Lower-Pay for Better Benefits: Survey

InterWest Insurance Services

The main driver in workers prioritizing benefits is the rapidly rising cost of group health insurance premiums and out-of-pocket costs, according to the study by Voya Financial. 51% said that high health care costs were having a major or significant impact on their ability to save for retirement.

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How HRAs Can Help Your Employees Pay for Medical Expenses

InterWest Insurance Services

As rising health insurance premiums and out-of-pocket costs for health care are burdening workers, more employers are looking for ways to help their staff put aside money for those expenses. It generally reimburses out-of-pocket medical expenses. Qualified medical expenses. How HRAs work. The takeaway.

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Little-Known Things to Consider When Shopping for Group Health Insurance

Insperity

The main oversight: Ruling out HSA-qualified plans. First and second time group health insurance buyers usually miss the opportunity to buy a health savings account (HSA)-qualified high-deductible health plan (HDHP). High-deductible health plans. Health Savings Accounts. The account holder (i.e.,

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More Insurers Pushing Virtual Care for Cost Savings

InterWest Insurance Services

More and more insurers are expanding the use of telemedicine, just as a new study shows promising cost savings of up to 25% from virtual care when implemented properly. It’s envisioned that these stand-alone telehealth benefits would operate similarly to dental and vision benefits, remaining separate from health care plans.

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FSA eligible expenses — what purchases count?

Business Management Daily

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. Here is what you need to know to figure out if an expense is FSA eligible. While flexible spending accounts are typically associated with medical costs there are a couple of different types of FSAs.

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16+ types of employee benefits you should consider

Genesis HR Solutions

Vision Insurance. Vision insurance is designed to help your employees cover and budget for ongoing vision care expenses like routine eye exams, prescription glasses, and contact lenses. Using untaxed dollars in an HSA to pay for deductibles, copayments, coinsurance, and some other expenses can lower overall health care costs.

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What is an HDHP?

WEX Inc.

High-deductible health plans (HDHPs) have become increasingly popular over the last few years by offering unique features and benefits that appeal to many individuals and families. An HDHP is a type of health plan characterized by its higher deductibles and typically lower premiums compared to traditional health plans.