WEX Inc.

JULY 20, 2023

Smaller employers may face challenges in providing these options, although participants have said they are interested in these health plan choices. More dental and vision Among employers with benefits administration through WEX , 68% of eligible employees enrolled in vision and 77% of eligible employees enrolled in dental.

Deductible 75

Deductible Deductions Flexible Spending Account Health Savings Account 75

Winston Benefits

OCTOBER 31, 2017

We recently helped an organization manage benefits communication through a merger by offering licensed benefits counselors who met with 4,500 new employees and 3,600 existing employees. As a result, plan participation went up, and 73 percent of new employees migrated to a consumer-driven health plan with a health savings account.

Employee Enrollments 45

Employee Enrollments Health Savings Account Education Employee Benefits 45

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. The key to ensuring that the HDHP is a success in part comes down to avoiding four common mistakes.

Out of Pocket Cost 83

Out of Pocket Cost Deductible Deductions Voluntary Benefits 83

Business Management Daily

SEPTEMBER 9, 2021

You can blame the pandemic — employees are more attuned to health benefits, which means more employees may switch health plans or go into a health plan for the first time next year. You need to know how these accounts differ so you can communicate about them to employees. Health savings accounts.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Employment Flexible Spending 52

Benefit Resource Inc.

AUGUST 13, 2019

According to a recent article from SHRM covering research from the Employees Benefit Research Institute (EBRI), enrollment in an HDHP promotes more conscious health care purchase decisions. For example, 55% of employees enrolled in an HDHP checked whether their health plan would cover their care or medication.

Deductible 45

Deductible Deductions Health Savings Account Employee Enrollments 45

Higginbotham

SEPTEMBER 16, 2024

Are you offering your employees health insurance options that work for their budgets? 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.

Deductible 52

Deductible Deductions Health Savings Account Health Insurance 52

Business Management Daily

NOVEMBER 15, 2021

These are generally offered in conjunction with a health savings account (HSA) that will set aside money separately for medical expenses. They may also divide the unused fund among all employees enrolled in the FSA plan. What Expenses Are Covered By an FSA? Healthcare FSAs. A Wide Array of FSA Eligible Items.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Medical Healthcare 98

Corporate Synergies

AUGUST 6, 2018

Educate employees on how to use these funds for current and future healthcare expenses. Health savings accounts can be a good deal for employees. Employers that have gone the HDHP route typically offer a qualified plan that includes a health savings account to help pay for qualifying medical expenses tax-free.

401(k) 40

401(k) Health Savings Account Retirement Plan Deductible 40

Winston Benefits

MARCH 8, 2018

If employees requested more communication or decision-support tools on your enrollment portal, they might be disappointed and discouraged if they don’t see any updates. Even just updating your enrollment booklet online and adding new FAQs can be a tremendous help to your employee population. What If We Add New Benefits?

Technology 45

Technology Health Savings Account Voluntary Benefits Employee Enrollments 45

Benefit Resource Inc.

JUNE 1, 2023

Overcoming the Challenge Implement an HDHP with Complementary Accounts A growing number of employers have implemented an HDHP as a choice for employees. As a result, more than 55% of Americans were enrolled in HDHPs in 2021, a new record. Employees can use two tax-advantaged accounts to cover many primary eligible expenses.

Flexible Spending Account 52

Flexible Spending Account Healthcare Health Savings Account Deductible 52

Business Management Daily

SEPTEMBER 27, 2019

JUST IN TIME FOR OPEN ENROLLMENT: High deductibles are a feature of HDHPs, not a bug. And those dollar amounts may discourage employees from signing on. To temper an HDHP’s bite, they can be paired with health savings accounts. 2020 adjustments for group health plans set. deductibles, co-payments, etc.)

Health Savings Account 40

Health Savings Account Deductible Deductions Flexible Spending Account 40

HR Digest

APRIL 2, 2024

If you’re unfamiliar with the concept of a lifestyle spending account you’re not alone in your confusion. The lifestyle spending account benefits vary from employer to employer but they all have the freedom to set a range of categories where the funds in the account can be spent. HSAs can be funded by both employer and employee.

Flexible Spending Account 52

Flexible Spending Account Health Savings Account Medical Flexible Spending 52

Higginbotham

JULY 12, 2022

If an employee or a member of the employee’s family experiences a medical emergency, the costs can add up quickly. A health reimbursement plan gives employers a way to cover these costs. HRAs may sound like Health Savings Accounts (HSAs) or Flexible Spending Accounts (FSAs), but there are key differences.

Out of Pocket Cost 52

Out of Pocket Cost Flexible Spending Account Medical Deductible 52