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 Employee Healthcare Costs in 2021.

Healthcare 111

Healthcare Out of Pocket Cost Voluntary Benefits Management 111

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

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 Deductions 45

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. 51% said that high health care costs were having a major or significant impact on their ability to save for retirement.

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

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.

Voluntary Benefits 52

Voluntary Benefits Insurance Health Insurance Benefits Package 52

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

JULY 25, 2024

Getting the financial balance right This is important as some people end up spending more up front on higher premiums in exchange for lower out-of-pocket maximums and/or deductibles. You should ask your employees to look at the deductible they had in the last year and see if they reached it.

Deductions 98

Deductions Deductible Voluntary Benefits Medical 98

InterWest Insurance Services

JANUARY 17, 2023

Employer-sponsored emergency savings accounts help workers save for financial emergencies by automatically deducting an amount from each paycheck and depositing it into a separate account. You can use the following list as a general guidepost if you are considering adding voluntary benefits to your employee offerings.

401(k) 98

401(k) Health Insurance Insurance Voluntary Benefits 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. Other voluntary benefits like critical illness insurance can fill in the gaps when employees have a high deductible.

Out of Pocket Cost 83

Out of Pocket Cost Deductions Deductible Voluntary Benefits 83

CorpStrat

DECEMBER 3, 2021

Be sure to clearly explain the deductions that employees will make from their paychecks. Offer Voluntary Benefits. More than ever, employers need to build a robust package that includes things like voluntary benefit programs.

Voluntary Benefits 98

Voluntary Benefits 401(k) Benefits Package Deductions 98

InterWest Insurance Services

APRIL 27, 2023

The HDHP effect The report found that health maintenance organizations and preferred provider organizations continue to dominate the landscape in group health benefits for SMBs. While high-deductible health plan (HDHP) enrollment grew at an astounding 68% between 2021 and 2022, they only accounted for 6% of group health plan enrollment.

Health Insurance 98

Health Insurance Insurance Out of Pocket Cost Deductions 98

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

Winston Benefits

MARCH 3, 2016

Benefitfocus released its 2016 State of Employee Benefits study recently. 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

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

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

Higginbotham

AUGUST 13, 2024

And, for most hospital indemnity plans, there are no deductibles, provider networks or other complications to worry about. Your employees may use their hospital indemnity insurance benefits to cover deductibles, copays, out-of-network costs and other expenses associated with a hospital stay. However, education is key.

Hospitality 52

Hospitality Insurance Voluntary Benefits Benefits Package 52

Employee Benefits

MARCH 19, 2024

Employees have the option to add cover for a partner or dependents through salary deductions. Other benefits Voluntary benefits discount hub. The post Benefits on offer at Egress appeared first on Employee Benefits. Employee assistance programme (EAP). Mental health support available through PMI scheme.

Voluntary Benefits 59

Voluntary Benefits Pension Salary Deductions 59

Business Management Daily

JUNE 12, 2020

Out of the deceased employee’s final regular pay, continue to deduct for all involuntary deductions (e.g., taxes and garnishments) and for all voluntary benefits (e.g., You need to determine what goes into and comes out of the final check. health, dental, vision, retirement).

Voluntary Benefits 52

Voluntary Benefits Deductions Deductible Taxes 52

Higginbotham

MAY 4, 2023

The Convenience of Payroll Deductions When supplemental life insurance is available through work, employees often pay for coverage using payroll deductions. Instead of having another bill to pay each month, they simply sign up to have the supplemental employee life insurance premiums deducted from their paychecks.

Life Insurance 52

Life Insurance Benefits Package Insurance Employee Benefits 52

Higginbotham

JANUARY 4, 2022

There are two main types of ancillary health insurance: voluntary benefits and employer contributory benefits. With employer contributory ancillary benefits, the employer usually pays 50 to 100 percent of the premiums. With voluntary ancillary benefits, the employer may contribute up to 49 percent of the premiums.

Health Insurance 52

Health Insurance Insurance Disability Insurance Life Insurance 52

Business Management Daily

JUNE 16, 2023

Out of the deceased employee’s final regular pay, deduct for all voluntary benefits (e.g., health, dental, vision, retirement) and involuntary deductions, like garnishments. Determining what’s taxable Next, determine what goes into and comes out of the final check. The withholding rules, however, are tricky.

Taxes 52

Taxes 401(k) Payroll Voluntary 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

Winston Benefits

MARCH 8, 2018

What If We Add New Benefits? As more employers offer high-deductible health plans, they often expand health savings accounts and voluntary benefits to supplement them.

Technology 45

Technology Health Savings Account Voluntary Benefits Employee Enrollments 45

Winston Benefits

APRIL 17, 2018

Guiding employees to make better benefits decisions and improving health and wellness were also leading priorities. Voluntary benefits , high-deductible health plans and telemedicine are the most popular new cost-management strategies. Employee choice and morale continue to play an important role in decision making.

Employee Benefits 45

Employee Benefits Voluntary Benefits Deductions Deductible 45

Winston Benefits

DECEMBER 19, 2017

Often provided as a discounted voluntary benefit, pet insurance is seen as a valuable one by employees and is increasingly popular among employers. Technology has changed the way employers provide, communicate about and enroll people in employee benefits. In addition, pet insurance is likely to see growth in the coming year.

Financial Counseling 45

Financial Counseling Voluntary Benefits Deductions Deductible 45

Higginbotham

MARCH 2, 2023

Group disability insurance benefits are provided by employers, often on a voluntary basis. The employer may pay for the premiums, or the employee may pay, often via payroll deductions. However, when offering disability insurance, you have a lot of options. The discounted group rates can make coverage affordable.

Disability Insurance 52

Disability Insurance Workers’ Compensation Insurance Benefits Package 52

Higginbotham

APRIL 7, 2022

There may also be a deductible and coverage limits. However, many workers will be happy to receive coverage, and for these workers, pet insurance can be offered as a voluntary benefit. Pet insurance benefits may also give employers an advantage in their talent recruitment and retention efforts.

Insurance 52

Insurance Benefits Package Health Insurance Deductions 52

WEX Inc.

MARCH 30, 2023

WEX voluntary benefits is an additional benefit that employers can offer at a discounted group rate, with employees either fully or partially paying for the benefits through a payroll deduction. Pet-sitting discounts can be a great way to show your employees that their furry friends are valued.

Voluntary Benefits 52

Voluntary Benefits Taxes Recruitment Deductions 52

Genesis HR Solutions

JULY 31, 2018

Miscellaneous deductions and garnishment 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. Online processing. Time clock feed options.

Payroll 40

Payroll Outsourcing Payroll IT Payroll System 40

Higginbotham

JANUARY 27, 2023

You can choose to pay all or part of the premium, and you can even offer some benefits, like pet insurance , on a voluntary basis so it’s available at an affordable group rate for employees to purchase if they are interested. Voluntary benefits can be offered with little to no out-of-pocket expense to the employer.

Health Insurance 52

Health Insurance Insurance Benefits Package Out of Pocket Cost 52

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

Voluntary benefits. You know, people are wanting voluntary benefits like life insurance, especially in a pandemic. Mike Ramsby: So we’ll audit their payroll to see what the deductions are, and we’ll audit the carriers to make sure that the bills are right. Compliance. Did I comply with Cobra?

Life Insurance 52

Life Insurance Payroll Insurance Voluntary Benefits 52

Empuls

FEBRUARY 26, 2024

  Offer alternative healthcare plans , such as high-deductible health plans (HDHPs) paired with health savings accounts (HSAs). Personalizing perks to employee needs will be in demand Recognizing the diverse needs and preferences of their workforce, modern employers are placing increased emphasis on lifestyle and voluntary benefits. 

Employee Benefits 40

Employee Benefits Financial Counseling Healthcare Retirement Plan 40

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. Voluntary benefits have been becoming more popular among employers in recent years as unemployment falls.

Voluntary Benefits 98

Voluntary Benefits Disability Insurance Deductions Deductible 98

InterWest Insurance Services

SEPTEMBER 27, 2023

Employees have a right to understand the costs they’ll be facing in each plan, including: Their share of the premium, Their deductible, Their copays or coinsurance, and Other out-of-pocket expenses. The lower the premium on the plan, the higher the deductibles and copays. Get an early start If your plan year starts Jan.

Out of Pocket Cost 93

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

WEX Inc.

APRIL 2, 2025

Check out our other compliance blog posts on HSAs , HRAs , LSAs , and voluntary benefits. The four common types of FSAs are: Medical FSA: Allows employees to use pre-tax dollars to cover eligible medical expenses not covered by insurance, such as copays, deductibles, and certain over-the-counter medications.

Flexible Spending Account 90

Flexible Spending Account Deductions Deductible Flexible Spending 90