Best Money Moves

NOVEMBER 4, 2020

What the average health insurance premium costs and changes employers are making to health benefits offerings in the new year. The ever increasing cost of healthcare combined with uncertainty about coverage, deductibles and copays keep some employees from getting the medical care they need. Managing Out-of-Pocket Costs in 2021.

Healthcare 111

Healthcare Out of Pocket Cost Voluntary Benefits Management 111

InterWest Insurance Services

OCTOBER 17, 2024

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. To better explain benefits to your staff, providing training, individual guidance and literature that explains how best to maximize their benefits.

Out of Pocket Cost 98

Out of Pocket Cost Voluntary Benefits Health Insurance Health Savings Account 98

InterWest Insurance Services

JULY 4, 2024

workers choosing high-deductible health plans has leveled off during the last two years, uptake has been growing rapidly among one segment of the working population: Gen Z employees. HDHPs feature higher deductibles and more out-of-pocket expenses in exchange for lower premiums upfront. While the number of U.S.

Voluntary Benefits 97

Voluntary Benefits Flexible Spending Account Deductions Deductible 97

Winston Benefits

NOVEMBER 15, 2017

Handling payments for voluntary benefits can be a hassle. Finding an option that works for you can simplify things for employees while making your benefits administration process more efficient. Under this option, we perform the administration of multiple benefits from multiple carriers through a single payroll deduction slot.

Voluntary Benefits 45

Voluntary Benefits Disability Insurance Deductions Deductible 45

InterWest Insurance Services

JUNE 2, 2022

Employers nationwide are looking for ways to attract and retain talent and differentiate themselves from competing employers, and many are looking to the two most popular voluntary benefits: employee dental and vision plans. At 24% of employers, the worker pays 100% of the cost via a payroll deduction program. Plan structures.

Health 98

Health Voluntary Benefits Disability Insurance Deductions 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. Providers in an insurer’s network may charge vastly different rates for the same procedure.

Out of Pocket Cost 83

Out of Pocket Cost Deductions Deductible Voluntary Benefits 83

InterWest Insurance Services

MARCH 22, 2022

One way you can give your staff more choice in the employee benefits they receive is to offer them a cafeteria plan, which allows them to put together a benefits package that works best for them. Employers fund these flexible benefit plans with funds that are deducted from their employees’ salaries on a pre-tax basis.

Flexible Spending Account 96

Flexible Spending Account 401(k) Flexible Spending Deductions 96

InterWest Insurance Services

JULY 25, 2024

The 2023 “Aflac WorkForces Report” found that while 51% of employees have a solid understanding of their total annual cost for health care coverage and care, just 39% have a full understanding of their health insurance policy. Additionally, 30% of employees say they need more information surrounding their benefits.

Deductions 98

Deductions Deductible Voluntary Benefits Medical 98

Corporate Synergies

DECEMBER 10, 2018

Which voluntary benefit options are right for your employees? This 4-step voluntary benefits checkup will help you decide. As the cost of medical plans rises, employers are offering high-deductible health plans (HDHPs) and health savings accounts (HSAs) as part of their employee benefit plans. As Seen In.

Voluntary Benefits 45

Voluntary Benefits Hospitality Health Savings Account Benefit Providers 45

Higginbotham

AUGUST 13, 2024

workers postpone health care needs because they’re worried about cost, even if they have health insurance. Medical care can be expensive, and group health insurance isn’t always enough. Employers can help their employees by offering worksite benefits like hospital indemnity insurance and other supplemental benefits.

Hospitality 52

Hospitality Insurance Voluntary Benefits Benefits Package 52

PeopleStrategy

JULY 8, 2019

Health benefits payment terms. Deductible : the amount an employee must pay out-of-pocket each year before their insurance kicks in; this does not apply to preventative care, like annual physicals. Co-insurance: the amount an employee must pay after meeting their deductible; under most plans, this is around 20% of full price.

Health Savings Account 82

Health Savings Account Deductions Deductible Healthcare 82

Winston Benefits

MARCH 3, 2016

Among the findings, adoption of high deductible health plans (HDHPs) is on the rise, but is still much lower than traditional PPO plans. One reason for this may be the coverage gap created by HDHPs.

Voluntary Benefits 45

Voluntary Benefits Deductions Deductible Hospitality 45

Higginbotham

MARCH 2, 2023

Workers’ compensation and disability insurance are two different types of programs that can provide benefits. Learn about the differences between workers’ compensation vs disability insurance and why your workers may need access to both. What are workers’ compensation benefits? What are disability insurance benefits?

Disability Insurance 52

Disability Insurance Workers’ Compensation Insurance Benefits Package 52

CorpStrat

AUGUST 11, 2022

Voluntary Benefits. Voluntary Benefits, commonly referred to as AFLAC, can help employees maintain their income by paying cash benefits directly to them. Employees can use these cash benefits to help cover rent, groceries, and other daily living expenses while they’re out of work.

Voluntary Benefits 52

Voluntary Benefits Employee Benefits Benefits Package Medical 52

Employee Benefits

MARCH 19, 2024

The benefits on offer at Egress: Pensions Defined contribution pension scheme, with 5% employee contributions and 4% employer contributions. Healthcare and wellbeing Private medical insurance (PMI) scheme, employer paid for all employees following probation. Other benefits Voluntary benefits discount hub.

Voluntary Benefits 59

Voluntary Benefits Pension Salary Deductions 59

Winston Benefits

DECEMBER 19, 2017

But only half of employers offer identity-theft protection as a benefit, the survey found. In addition, pet insurance is likely to see growth in the coming year. Often provided as a discounted voluntary benefit, pet insurance is seen as a valuable one by employees and is increasingly popular among employers.

Financial Counseling 45

Financial Counseling Voluntary Benefits Deductions Deductible 45

WEX Inc.

MARCH 30, 2023

Provide benefits, insurance, or discounts instead You can support your pet-owning employees in other ways! Offering pet insurance can protect both the business and its employees and can help to reduce financial burden. But, if not prepared, the day will not go well.

Voluntary Benefits 52

Voluntary Benefits Taxes Recruitment Deductions 52

Genesis HR Solutions

JULY 31, 2018

Miscellaneous deductions and garnishment management. State unemployment insurance tax account (SUTA) management. The outsourcer will make sure employee benefits, voluntary benefits, extra savings plans, and pre-tax and post-tax plans flow correctly through to employees’ paychecks so the right amounts are withheld.

Payroll 40

Payroll Outsourcing Payroll IT Payroll System 40

Higginbotham

JULY 19, 2022

Employee pay is often closely connected to employee benefits and, by extension, various regulations related to those employee benefits. For example, employees may pay their share of health insurance and various voluntary benefits through payroll deductions.

Payroll Service 52

Payroll Service Payroll Outsourcing Payroll Overtime 52

GRA Benefits Group

OCTOBER 2, 2020

Today, we’re going to talk about some pretty big changes impacting the state of Michigan and insurance agents, employers all throughout the entire state. Joining me is Mike Ramsby of GRA Benefits Group. Mike and his team provide solutions for employee benefit agents and their clients. Benefits are expensive.

Life Insurance 52

Life Insurance Payroll Insurance Voluntary Benefits 52

Empuls

FEBRUARY 26, 2024

Rising healthcare costs, coupled with the complexities of insurance plans, can be a source of significant stress.  Explore partnerships with healthcare providers and insurance companies to negotiate better rates for their employees.

Employee Benefits 40

Employee Benefits Financial Counseling Healthcare Retirement Plan 40

InterWest Insurance Services

OCTOBER 31, 2024

Middle class families — those with incomes of between roughly $50,000 and $100,000 per year — are becoming increasingly reliant on workplace benefits to ensure their financial well-being in case of a disability or critical illness. Simple health insurance is insufficient to carry the load. Are life insurance benefits adequate?

Disability Insurance 98

Disability Insurance Life Insurance Deductions Deductible 98

InterWest Insurance Services

MARCH 1, 2024

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. cancer insurance) Pet insurance. cancer insurance) Pet insurance.

Voluntary Benefits 98

Voluntary Benefits Disability Insurance Deductions Deductible 98

Higginbotham

NOVEMBER 12, 2024

Employers wishing to provide legal services as an employee benefit typically have two primary options: Standalone Legal Services Benefit: Legal insurance can be provided as a voluntary benefit, with employees covering the cost through payroll deductions. How will you encourage participation?

Voluntary Benefits 52

Voluntary Benefits Insurance Benefits Package Health Insurance 52

InterWest Insurance Services

SEPTEMBER 27, 2023

It’s almost time for group health insurance open enrollment and your top priority should be to drive participation by helping your employees make informed decisions about their options. The lower the premium on the plan, the higher the deductibles and copays. It’s a balancing act, since each employee has different needs.

Out of Pocket Cost 93

Out of Pocket Cost Flexible Spending Account Health Savings Account Health Insurance 93

Higginbotham

JANUARY 4, 2022

Ancillary health insurance is a secondary type of coverage used to supplement your traditional health insurance. The term “ancillary” means “providing additional help or support,” and that’s just what ancillary health insurance does. Types of Ancillary Benefits. Examples of Ancillary Health Insurance.

Health Insurance 52

Health Insurance Insurance Disability Insurance Life Insurance 52

Higginbotham

MAY 4, 2023

What is supplemental life insurance? It’s a type of life insurance policy that’s often available through work and provides additional coverage. What is supplemental life insurance? Supplemental life insurance fills in coverage gaps and provides additional life insurance coverage.

Life Insurance 52

Life Insurance Benefits Package Insurance Employee Benefits 52

Employee Benefits

AUGUST 8, 2023

As an employer, it’s your responsibility to contribute at least 8% towards an employee’s pension every month, typically split as: 3% from the employer 5% deducted from the employee’s pre-tax salary Paid Leave for Maternity, Paternity, and Adoption Paid leave for these life events is another statutory requirement.

Pension 52

Pension Paid Leave Parental Leave Voluntary Benefits 52

Higginbotham

APRIL 7, 2022

It’s generally accepted that people should have health insurance. Veterinary bills can be expensive, especially when unexpected accidents and illnesses are involved, and pet insurance can help cover the costs. Some pet owners buy coverage on their own, but pet insurance has also emerged as a popular employee benefit.

Insurance 52

Insurance Benefits Package Health Insurance Deductions 52

Higginbotham

JANUARY 27, 2023

They want to be fairly compensated for their work, and that usually involves both wages and employee benefits. Although some small business owners may feel overwhelmed by the prospect of offering health insurance and other benefits, the many advantages can make the effort worthwhile. Health insurance matters to employees.

Health Insurance 52

Health Insurance Insurance Benefits Package Out of Pocket Cost 52

WEX Inc.

APRIL 2, 2025

Check out our other compliance blog posts on HSAs , HRAs , LSAs , and voluntary benefits. Employees must be eligible for your companys health insurance plan to participate in an FSA. Combination FSA: A limited FSA that converts into a medical FSA once the IRS deductible is met.

Flexible Spending Account 90

Flexible Spending Account Deductions Deductible Flexible Spending 90