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IRS Loosens Preventive Care Coverage Rules

InterWest Insurance Services

New guidance issued by the IRS expands the types of preventive care benefits that high-deductible health plans are required to cover with no out-of-pocket costs on the part of plan enrollees. The changes are aimed at reducing out-of-pocket costs for diabetes-related expenses, certain cancer screenings and contraceptives.

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What to do if your zero-deductible health plan goes away

PeopleKeep

One of the biggest factors is how high your out-of-pocket costs will be. One option that appeals to many employers is the zero-deductible health plan because it means the insurance company will start accepting claims from the very beginning. There’s no need for employees first to meet a specific dollar amount.

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Four High Deductible Health Plan Mistakes to Avoid

InterWest Insurance Services

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. The employer can also contribute to its employees’ HSAs to encourage participation.

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Waiving HDHP Deductibles Has Little Effect on Premiums, Study Says

InterWest Insurance Services

Employers who offer health savings account-eligible high-deductible health plans (HDHPs) to employees can significantly expand pre-deductible coverage for certain drugs used to manage chronic conditions — with only a tiny effect on premiums. Cost of temporary workers. Overtime costs. Absenteeism.

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Managing Employee Healthcare Costs in 2021

Best Money Moves

Managing employee healthcare costs in 2021. What the average health insurance premium costs and changes employers are making to health benefits offerings in the new year. In spite of these increases, 56 percent of employers don’t plan to make any changes to reduce medical plan costs in 2021.

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It’s Time for a Mid-Year Financial Check-Up

Money Talk

In it, I urged a review of tax deductions/credits, tax withholding, budgeting/cash flow, flexible spending accounts, financial goal progress, and investment portfolio status. This is a great time to increase emergency savings or automatic deposits into an employer retirement savings plan (e.g., 401(k) or 403(b) plan).

401(k) 189
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Health Expenses a Major Source of Mental Health Issues for U.S. Workers

InterWest Insurance Services

Mental health issues have come to the fore during the COVID-19 pandemic, spurring employers to expect their group health plans to do more for their workers in this area. workers are increasingly having difficulties in paying for health care, particularly due to high copays, deductibles and other health plan cost-sharing elements.