Best Money Moves

NOVEMBER 4, 2020

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.

Healthcare 111

Healthcare Out of Pocket Cost Voluntary Benefits Management 111

Money Talk

JUNE 29, 2022

This is a great time to increase emergency savings or automatic deposits into an employer retirement savings plan (e.g., Even 1% more of pay in increased savings can result in thousands of dollars more in later life, especially if that savings is matched by an employer. 401(k) or 403(b) plan). child care, loan) ends.

401(k) 189

401(k) Out of Pocket Cost Finance Flexible Spending Account 189

Higginbotham

MARCH 24, 2025

But, once you enroll in Medicare, you can no longer make contributions or receive contributions from your employer into your HSA account. If you have qualified employer-sponsored health insurance, you may want to delay Medicare enrollment past age 65. What happens to your HSA once you enroll in Medicare?

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductions Deductible 52

InterWest Insurance Services

MARCH 16, 2023

Large employers are unwavering in their plans to continue offering group health plans to their workers instead of funding individual reimbursement accounts that would allow them to shop for plans on government-run exchanges, according to new research.

Health Insurance 98

Health Insurance Employment Out of Pocket Cost Health Savings Account 98

InterWest Insurance Services

JANUARY 5, 2023

Despite group health insurance costs expected to rise 5.4% this year, the tight labor market is forcing employers to prioritize enhancing benefits over cost-cutting measures, according to a new report by Mercer. The expected health insurance cost growth of 5.4% What employers are doing. Cost-cutting.

Out of Pocket Cost 92

Out of Pocket Cost Employment Health Insurance Deductions 92

InterWest Insurance Services

JULY 13, 2023

Employers who were surveyed for a new report expected that group health insurance premiums would increase 5.4% this year and at a faster clip in 2024 as inflation hits medical costs. With all that in mind, the report advises that employers will have to prepare for higher premium outlays and be creative in how they try to control costs.

Employment 98

Employment Out of Pocket Cost Health Insurance Health Savings Account 98

InterWest Insurance Services

MAY 25, 2022

A new survey has found that managing health care costs and expanding mental health benefits will be a top priority for U.S. employers as they ramp up benefits to compete for talent in the tight job market spawned by the COVID-19 pandemic. Here’s the direction many employers are going, according to the survey.

Employment 97

Employment Out of Pocket Cost Health Insurance Insurance 97

Higginbotham

APRIL 8, 2025

The decisions can have a ripple effect into other areas, such as: Increased Health Insurance Costs: Premium increases directly impact the budget and total health spending that is dedicated to employee benefit programs and services. Many employers offer group health insurance on a fully-insured basis.

Health Insurance 52

Health Insurance Out of Pocket Cost Deductions Deductible 52

PeopleKeep

FEBRUARY 16, 2022

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 are many factors to consider when it comes to selecting health insurance.

Deductions 98

Deductions Deductible Out of Pocket Cost Health Insurance 98

InterWest Insurance Services

MAY 2, 2024

When you look at the dental options for your employer-sponsored health plan, or if you’re just looking at the options available on the market, you may encounter the acronyms DMO and PPO (also known as a PDN), as well as indemnity plan, in the marketing literature. These terms describe types of dental insurance plans.

Insurance 90

Insurance Out of Pocket Cost Deductions Deductible 90

PeopleKeep

JANUARY 18, 2022

For many employers offering a group health insurance plan, adding a supplemental benefit in addition to the group plan can help offset your employees’ out-of-pocket costs. One way to supplement your group health insurance plan is through an integrated HRA, also known as a group coverage HRA (GCHRA).

Out of Pocket Cost 98

Out of Pocket Cost Insurance Carriers Health Insurance Deductions 98

PeopleKeep

DECEMBER 29, 2021

Whether or not you’ll have any out-of-pocket costs. We’ll cover: Why someone might have two health insurance plans. How to coordinate primary and secondary health insurance plans. How to determine which insurance is primary and which is secondary.

Health Insurance 105

Health Insurance Insurance Out of Pocket Cost Medical 105

InterWest Insurance Services

FEBRUARY 20, 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 employer can also contribute to its employees’ HSAs to encourage participation.

Deductions 98

Deductions Deductible Out of Pocket Cost Health Savings Account 98

Insperity

OCTOBER 31, 2017

From employer-sponsored health insurance to retirement savings plans, an attractive benefits package can help you hire the best employees and ensure you retain them for many years to come. This can go a long way toward positioning your company to excel in the marketplace and securing your reputation as a stellar employer.

Out of Pocket Cost 85

Out of Pocket Cost Disability Insurance Health Insurance Flexible Spending Account 85

Best Money Moves

JUNE 1, 2022

Here’s how employers can support their teams cope with inflation with the right benefits choices. . Luckily, there are methods employers can use to help employees weather this period. Here are 5 benefits employers can use to help employees cope with inflation. Improved Retirement Benefits. Health Care Assistance.

401(k) 115

401(k) Out of Pocket Cost Benefits Package Finance 115

InterWest Insurance Services

AUGUST 1, 2023

With recent new regulations, options have changed for employers and you need to stay focused on maximizing your outcomes within your budget. Going out of network is discouraged with high out-of-pocket costs. Preferred provider organizations – PPOs contract with hospital and provider networks to help control costs.

Family and Medical Leave Act 98

Family and Medical Leave Act Out of Pocket Cost Deductions Deductible 98

InterWest Insurance Services

AUGUST 22, 2023

With recent new regulations, options have changed for employers and you need to stay focused on maximizing your outcomes within your budget. Going out of network is discouraged with high out-of-pocket costs. Preferred provider organizations – PPOs contract with hospital and provider networks to help control costs.

Family and Medical Leave Act 98

Family and Medical Leave Act Out of Pocket Cost Deductions Deductible 98

Insperity

MAY 13, 2015

the employee) can contribute to the account, as can any other person or entity, including the employer. HSAs have a triple tax advantage: Contributions made via payroll deduction are pre-tax if made through an employer-sponsored cafeteria plan, therefore reducing taxable income. The account holder (i.e.,

Health Insurance 87

Health Insurance Insurance Out of Pocket Cost Health Savings Account 87

InterWest Insurance Services

AUGUST 10, 2022

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. Illness-related presenteeism.

Deductions 98

Deductions Deductible Family and Medical Leave Act Health Savings Account 98

InterWest Insurance Services

JUNE 2, 2023

Employers offer flexible savings accounts and health savings accounts to their employees so they can build up funds with pre-tax dollars to pay for health care and related expenses. Employers can offer one of two options to give their employees more time to spend their funds: Grace period — You can provide an extra 2.5

Out of Pocket Cost 98

Out of Pocket Cost Health Savings Account Medical Health Insurance 98

InterWest Insurance Services

JUNE 27, 2024

The bulletin focuses on medical savings accounts that employers will often sponsor, including flexible spending accounts (FSAs), health reimbursement arrangements (HRAs) and health savings accounts (HSAs), which are funded by employees’ untaxed earnings.

Out of Pocket Cost 98

Out of Pocket Cost Flexible Spending Account Food Health Savings Account 98

InterWest Insurance Services

DECEMBER 28, 2021

Most employers offer major medical coverage to their full-time employees. For example, even with insurance, treating a broken leg or undergoing emergency appendicitis surgery can mean thousands of dollars in out-of-pocket medical costs. That leaves your worker exposed to a total out-of-pocket cost of over $7,600.

Voluntary Benefits 98

Voluntary Benefits Hospitality Insurance Out of Pocket Cost 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. The employer can also contribute to its employees’ HSAs to encourage participation.

Out of Pocket Cost 83

Out of Pocket Cost Deductions Deductible Voluntary Benefits 83

Best Money Moves

MAY 22, 2019

Comprehensive healthcare plans that reduce out of pocket costs for employees will be highly attractive to millennial employees. Millennials Split $100 Towards Employee Benefits.

401(k) 97

401(k) Out of Pocket Cost Health Insurance Paid Leave 97

InterWest Insurance Services

MAY 26, 2023

While drugmakers have been assailed for years for increasing their prices and driving the cost of medications higher and higher, there is another player in the health care space that is receiving increased scrutiny: pharmacy benefit managers. PBMs typically contract with both insurers (or self-insured employers) and pharmacies.

Out of Pocket Cost 98

Out of Pocket Cost Manufacturing Insurance Medical 98

InterWest Insurance Services

AUGUST 10, 2023

While drugmakers have been assailed for years for increasing their prices and driving the cost of medications higher and higher, there is another player in the health care space that is receiving increased scrutiny: pharmacy benefit managers. PBMs typically contract with both insurers (or self-insured employers) and pharmacies.

Out of Pocket Cost 98

Out of Pocket Cost Manufacturing Insurance Medical 98

InterWest Insurance Services

JUNE 22, 2023

market, in March 2023 announced that they will cap the cost of insulin for people with private insurance plans. That includes those on employer-sponsored group health plans and plans purchased on a government-run exchange. Out of that population, 8.4 Three drugmakers, which account for roughly 90% of the insulin in the U.S.

Insurance 95

Insurance Out of Pocket Cost Pharmaceutical Deductions 95

InterWest Insurance Services

AUGUST 29, 2024

While the goals for your health plan will differ from other employers, there are a number of common metrics that organizations track to gauge health plan performance. This knowledge is essential not only for budgeting, but also for planning benefit offerings that meet the needs of your workforce and your firm.

Out of Pocket Cost 98

Out of Pocket Cost Health Insurance Insurance Utilities 98

InterWest Insurance Services

APRIL 27, 2023

Overall rates for employers with 10 or fewer employees saw their family plan health insurance premiums jump 12% from 2021, compared to just 5.4% The Ease report notes that those higher premiums are likely hurting those small employers more than larger SMBs with between 51 and 250 workers.

Health Insurance 98

Health Insurance Insurance Out of Pocket Cost Deductions 98

InterWest Insurance Services

DECEMBER 29, 2023

A new study has found that most employer-sponsored family health plans are increasingly unaffordable for workers due to rising costs and them footing a significant part of the premium, even with employer assistance. But consumers also benefit from these plans through lower overall out-of-pocket expenses.

Out of Pocket Cost 98

Out of Pocket Cost Deductions Deductible Health Savings Account 98

Best Money Moves

MAY 28, 2019

Employers can leverage this report to better understand how to attract, motivate and retain hourly workers.”. High out-of-pocket costs for healthcare have led to financial toxicity , which happens when Americans skip medications that could improve their quality of life because they can’t afford them.

Out of Pocket Cost 89

Out of Pocket Cost Healthcare Overtime Work From Home 89

InterWest Insurance Services

APRIL 18, 2024

Consider adding a direct primary care benefit, which allows workers and covered family members unlimited appointments with their primary care physician with no out-of-pocket costs. Employers nationwide are responding to the employee mental health crisis by expanding their leave programs.

Out of Pocket Cost 96

Out of Pocket Cost Parental Leave Work From Home Insurance 96

InterWest Insurance Services

NOVEMBER 22, 2023

A new report has found that the top driver of health care costs in the U.S. is chronic conditions, emphasizing the role that employers can assume in helping their employees better maintain these ailments. As a result, chronic conditions play an outsized role in the cost of group health insurance. Routine immunizations.

Out of Pocket Cost 98

Out of Pocket Cost Education Health Insurance Insurance 98

Benefit Resource Inc.

FEBRUARY 2, 2023

Offering pre-tax benefits is the first step in helping employees lower out-of-pocket expenses, but employers should also make sure to explain the associated financial benefits. It’s important that employers are equipped to provide sound guidance on out-of-pocket costs, coverage options and resources like HSA calculators.

Out of Pocket Cost 98

Out of Pocket Cost Management Insurance Carriers Finance 98

InterWest Insurance Services

OCTOBER 20, 2022

The Centers for Medicare and Medicaid Services’ transparency rules were implemented to shine the light on what hospitals charge for their various medical services, the negotiated rates insurers have with health plans and the out-of-pocket costs enrollees can expect to pay for these services.

Hospitality 98

Hospitality Out of Pocket Cost Insurance Medical 98

InterWest Insurance Services

FEBRUARY 8, 2023

As health insurance and health care costs continue rising, more employers and health plans are turning to centers of excellence to manage patients with chronic conditions. The employer and/or health plan saves money by not having to shell out thousands for surgery that could have been avoided.

Out of Pocket Cost 97

Out of Pocket Cost Insurance Health Insurance Medical 97

InterWest Insurance Services

MARCH 4, 2022

As rising health insurance premiums and out-of-pocket costs for health care are burdening workers, more employers are looking for ways to help their staff put aside money for those expenses. Employers fund these accounts, which reimburse your staff for qualified medical expenses and, in some cases, insurance premiums.

Medical 98

Medical Health Insurance Out of Pocket Cost Deductions 98