Employee Benefit News

NOVEMBER 17, 2023

Fred Turner, CEO of Curative, explains why employers need to break away from traditional health plans.

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WEX Inc.

NOVEMBER 14, 2024

You must be enrolled in a high-deductible health plan (HDHP) to be eligible, which lowers you insurance premiums. Health savings accounts have a triple-tax advantage, meaning distributions for qualified medical expenses and investment returns are tax-free, and contributions are tax-deductible. It is not legal or tax advice.

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Flimp Communications

SEPTEMBER 25, 2024

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.

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Best Money Moves

NOVEMBER 4, 2020

Managing employee healthcare costs in 2021. The ever increasing cost of healthcare combined with uncertainty about coverage, deductibles and copays keep some employees from getting the medical care they need. Indeed, many plan to add new resources to better support healthcare needs in light of COVID-19.

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PeopleKeep

JULY 8, 2022

The average American spends a considerable amount of money on healthcare each year. Premium increases, higher deductibles and copays, and soaring prescription drug prices result in spikes in healthcare costs. According to the Centers for Medicare & Medicaid Services 1 , in 2021, healthcare costs skyrocketed to $4.3

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PeopleKeep

OCTOBER 13, 2023

The average American spends a considerable amount of money on healthcare each year. Premium increases, higher deductibles and copays, and soaring prescription drug prices result in spikes in total healthcare costs.

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Flimp Communications

JUNE 24, 2020

But tips for saving money around healthcare can contribute to improved financial health. When you pay out of pocket for medical care, the IRS lets you deduct it. But even if you don’t, health savings accounts (HSAs) allow you to save money, tax free, to be spent on healthcare. Once you do, the insurer picks up the rest.

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Qandle

JANUARY 29, 2025

Benefits Compliance: Organizations must also stay compliant with benefits regulations, such as healthcare benefits under the Affordable Care Act (ACA) and retirement plans under ERISA. Payroll software simplifies this process by automatically applying the correct deductions based on employee benefits selections.

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WEX Inc.

SEPTEMBER 4, 2024

Assess your annual expenses Understanding your annual healthcare expenses is a fundamental step in selecting the right health plan. If you rarely require medical care and prefer to save on monthly premiums, a plan with a higher deductible and lower premiums might be suitable.

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Flimp Communications

SEPTEMBER 26, 2024

The cost of healthcare and employer-sponsored health plans are on the rise in 2024. Related: Get Flimp’s free guide to reduce healthcare spending with decision support Get it here → All of this leaves HR teams in a seemingly impossible position. It’s not easy being an HR professional these days.

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BerniePortal

JULY 14, 2021

When an organization renews health plans in the middle of the year, employees might worry that their deductible will reset. It’s an understandable worry; if they’re close to meeting their deductible and have to start all over again, it could impact their medical decisions and their financial health.

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BerniePortal

SEPTEMBER 23, 2021

As the time nears for organizations to renew their health plan , many employees may become concerned if their health insurance deductibles are also set to renew. If an employee is on the cusp of meeting their deductible when it comes time for their health insurance plan to reset, it can be an understandable worry.

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Flimp Communications

OCTOBER 30, 2024

Their tax advantages and investment potential can help employees reduce healthcare costs, save for retirement, and maximize tax refunds. About half of American employers offer HSAs — coupled with high-deductible health plans (HDHPs) — but, according to one study , 69% of employees don’t understand their benefits or uses.

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WEX Inc.

NOVEMBER 27, 2024

Nearly two-thirds of large employers provide their employees with the choice of a high-deductible health plan (HDHP) and a traditional health plan, such as a preferred provider organization (PPO), during open enrollment. The IRS sets deductible limits that determine what is an HDHP. But there are high-deductible PPOs, as well.

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InterWest Insurance Services

DECEMBER 10, 2024

The Mercer survey concluded that employers would have to balance two priorities: Focusing on health care affordability and ensuring that their staff can afford their copays, coinsurance and deductibles. increase in health insurance costs, even after implementing cost-reduction measures.

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Fringe Benefit Analysts

OCTOBER 17, 2024

Insurance carriers can still charge more by age, but a sick 61-year-old and a healthy 61-year-old would pay the same amount for coverage with the same deductibles and out-of-pocket maximums.

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Sodexo Engage

OCTOBER 22, 2024

Online GP - 24/7 healthcare at your employees’ fingertips anytime, anywhere! Refurbished Tech and lifestyle-improving Salary Deduct Schemes. Refurbished Tech Scheme - Save up to 60% on refurbished devices - paid upfront or through salary deductions. Online GP - 24/7 healthcare at your employees’ fingertips anytime, anywhere.

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WEX Inc.

JULY 20, 2023

Deductible options The words “health”, “coverage”, “insurance”, and “deductible” were among the most frequent words to appear when participants were asked in our survey what was missing from their benefits. Specific responses included: “A lower deductible or copay options would be an improvement.” Deductibles are too high.

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Best Money Moves

OCTOBER 1, 2024

In fact, when surveyed by the National Association of Insurance Commissioners (NAIC), only about a quarter of Gen Z adults could define the terms “deductible” (27%) and “copay” (29%). However, Gen Z employees are particularly susceptible to a lack of education on insurance terms and policies.

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Sodexo Engage

JANUARY 3, 2025

Online GP - 24/7 healthcare at your employees fingertips anytime, anywhere! Refurbished Tech and lifestyle-improving Salary Deduct Schemes. Refurbished Tech Scheme - Save up to 60% on refurbished devices - paid upfront or through salary deductions. Online GP - 24/7 healthcare at your employees fingertips anytime, anywhere.

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PeopleKeep

JUNE 29, 2022

As an employer, you always want to offer the best possible healthcare benefits for your employees. But with healthcare costs rising , making sure those health benefits options are also budget-friendly is also crucial.

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Sodexo Engage

JANUARY 3, 2025

Online GP - 24/7 healthcare at your employees fingertips anytime, anywhere! Refurbished Tech and lifestyle-improving Salary Deduct Schemes. Refurbished Tech Scheme - Save up to 60% on refurbished devices - paid upfront or through salary deductions. Online GP - 24/7 healthcare at your employees fingertips anytime, anywhere.

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Best Money Moves

DECEMBER 9, 2024

Companies are helping employees make their healthcare costs more manageable through effective healthcare benefits. According to Mercers Survey on Health and Benefits Strategies for 2025, about two-thirds of large employers said that improving healthcare affordability is a priority for the next year.

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Business Management Daily

JUNE 29, 2022

However, HSAs must be paired with high-deductible health plans. The high deductibles continue to apply. The post The impact of Dobbs on employer provided healthcare appeared first on Business Management Daily. Your plan must be amended to allow for the roll-over option.

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WEX Inc.

SEPTEMBER 18, 2024

It’s your best chance to evaluate your healthcare needs and identify opportunities to better support yourself and your family. Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans. Open enrollment is around the corner for many of you.

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HR Lineup

JULY 6, 2023

Payroll Outsourcing: Payroll is a critical HR function that involves the calculation of employee salaries, tax deductions, and compliance with local labor laws. This type of outsourcing is particularly beneficial for organizations that require large-scale hiring or lack internal recruitment capabilities.

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Employee Benefits

APRIL 3, 2024

Credit: everydayplus/shutterstock What are healthcare trusts? Healthcare trusts enable employers to provide self-funded medical cover to employees. Unlike private medical insurance (PMI), healthcare benefits are paid for from a trust fund, set up with trust rules. Cover can be fully- or partly-employer paid.

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WEX Inc.

MAY 8, 2023

More employees are enrolling in a high-deductible health plan (HDHP) each year, including more than half of U.S. HDHP vs. PPO deductible Nearly two-thirds of large employers provide their employees with the choice of an HDHP and a traditional health plan , such as a preferred provider organization (PPO).

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WEX Inc.

AUGUST 15, 2023

Assess your annual expenses Understanding your annual healthcare expenses is a fundamental step in selecting the right health plan. If you rarely require medical care and prefer to save on monthly premiums, a plan with a higher deductible and lower premiums might be suitable.

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WEX Inc.

JUNE 13, 2024

The average 65-year-old couple retiring today will need $351,000 to cover healthcare and medical costs in retirement. And even though Medicare helps pay for the healthcare needs of 63 million people, most recipients still spend thousands each year on out-of-pocket expenses. Will you retire in Florida, or at a cabin in the woods?

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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.

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PeopleKeep

DECEMBER 21, 2020

Savvy employers and consumers can take advantage of several types of tax reductions when it comes to healthcare costs.

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Employee Benefits

APRIL 3, 2024

An employment tribunal has ruled that Phoenix Healthcare and Rentacar 24/7 must pay £2,912.19 The tribunal ruled that the two businesses made unauthorised deductions from Piekielniak’s wages, failed to pay him for the hours he had worked, and did not provide a written statement of employment terms. for unpaid wages.

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PeopleKeep

FEBRUARY 9, 2022

A health savings account (HSA) is an employee-owned account designed to set aside pre-tax money to pay for qualified medical expenses such as deductibles, copayments, coinsurance, and other out-of-pocket expenses included in IRS publication 502.

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PeopleKeep

OCTOBER 2, 2023

One option that appeals to many employers is the no-deductible health plan. These plans are attractive because they cover healthcare costs immediately, eliminating high out-of-pocket expenses for employees. But, no-deducible health plans have high premiums, which may make them difficult for some employers to afford.

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WEX Inc.

MARCH 16, 2023

If you’re covered by an HSA-eligible health plan (or high-deductible health plan ), the IRS allows you to put as much as $3,650 per year (in 2022) into your health savings account (HSA). A health savings account gives you greater control of your healthcare expenses and potential savings. What is an HSA?

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PeopleKeep

JULY 24, 2024

Even if your health plan has a low deductible and few copayments , your insurance provider will likely only pay a portion of your healthcare costs, leaving you to cover the rest. credit reporting system due to high healthcare costs , billing errors, lack of insurance, and other reasons 2.

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