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HealthInsurance Associate (HIA) The HealthInsurance Associate (HIA) certification is offered by America’s HealthInsurance Plans (AHIP). It focuses on the fundamentals of healthinsurance, making it highly relevant for benefits professionals responsible for health and wellness programs.
How past elections shaped policy From the creation of healthsavingsaccounts (HSAs) under the Medicare Modernization Act of 2003 to the Affordable Care Act (ACA) under President Obama, election cycles have repeatedly sparked discussions about healthcare reform. Current election cycle: What’s on the table?
They include 529 college savings plans, flexiblespendingaccounts (FSAs), tax-deferred annuities, and healthsavingsaccounts (HSAs) for people with high-deductible healthinsurance plans.
When approaching open enrollment, do … Evaluate available healthinsurance plans. Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans. The “daily grind” can often get in the way of the big picture, but don’t let it!
If you’re shopping for group healthinsurance for your company the first or second time around, it can be hard to make a confident choice. Not to mention, the Affordable Care Act (ACA) has changed the group healthinsurance market considerably. HealthSavingsAccounts.
Employers can choose from a range of pre-tax benefits, including healthinsurance, dental insurance, vision insurance, and other types of benefits. The PeopleKeep platform offers customizable benefits solutions for businesses of all sizes. One of the key features of PeopleKeep is its ease of use.
USI’s benefits offerings include a comprehensive suite of healthinsurance options, including medical, dental, and vision insurance. The company also offers flexiblespendingaccounts (FSAs) and healthsavingsaccounts (HSAs) to help employees save money on healthcare costs.
Whether you’re transitioning from your parents’ insurance, landed your first full-time job, or are simply obtaining coverage for the first time, choosing health plans and employee benefits options can be overwhelming. For starters, let’s look at a few considerations when evaluating health plans for the first time.
Flexiblespendingaccounts (FSA) Flexiblespendingaccounts (FSAs) offer a valuable tax-advantaged benefit, but the IRS use-or-lose rule can result in forfeited funds if employees dont use their balances by the deadline. Key dates February 28, 2025: Paper filing deadline for 1095-C forms.
When approaching open enrollment, do … Evaluate available healthinsurance plans. Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans. The “daily grind” can often get in the way of the big picture, but don’t let it!
There are a few different types of medical reimbursement plans including: Health Reimbursement Arrangements (HRAs), Healthcare Reimbursement Plans (HRPs), HealthSavingsAccounts (HSAs), and HealthFlexibleSpendingAccounts (FSAs). FlexibleSpendingAccounts (FSAs).
As rising healthinsurance 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. Fortunately, there is another option: a health reimbursement arrangement (HRA). Qualified medical expenses. How HRAs work.
Study findings The trend of more Gen Z workers gravitating to HDHPs makes sense, since these plans are best suited for younger individuals who are generally healthier and have fewer health problems than their older counterparts — Gen Xers and Baby Boomers. Generation X has the highest premiums compared to other generations, across all plans.
The IRS has released the 2023 maximum contribution amounts for healthsavingsaccounts and flexiblespendingaccounts. The changes, which the IRS releases in November each year, will affect contribution limits for HSAs, FSAs and 401(k) and other retirement accounts.
Flexible work options. Employees still want traditional options such as retirement plans, educational assistance, and healthinsurance. Accident and Health Benefits . Group-term life insurance . HealthSavingsAccounts. FlexibleSpendingAccounts: funded by salary reduction.
It’s almost time for year-end small group open enrollment and you need to drive engagement so that your employees can make informed decisions about their healthinsurance options. We want to help you help your employees understand all of their options so that they can purchase a plan that is appropriate for their situation.
To help these new recruits get the most out of the benefits you offer, you can start by focusing on the following: School them on healthinsurance. To many new Gen Z recruits, signing up for healthinsurance and actually using their benefits is a foreign concept.
Whether you're transitioning from your parents' insurance, landed your first full-time job, or are simply obtaining coverage for the first time, choosing health plans and employee benefits options can be overwhelming. For starters, let’s look at a few considerations when evaluating health plans for the first time.
Although some small business owners may feel overwhelmed by the prospect of offering healthinsurance and other benefits, the many advantages can make the effort worthwhile. ALEs are subject to certain health care reporting requirements. However, many small employers decide to offer healthinsurance anyway.
You’re reading your healthinsurance policy and come across a coinsurance clause. Here’s what you need to know about this common insurance term. It is used in different types of insurance policies, including healthinsurance and property insurance, but it works a little differently depending on the type of insurance.
FlexibleSpendingAccounts allow employees to set aside pre-tax dollars from their paycheck to use for medical or dependent care expenses. These funds are placed in an FSA account that employees can use to pay for eligible expenses. Healthinsurance premiums including COBRA premiums. Types of FSA Plans.
Vision insurance is designed to help your employees cover and budget for ongoing vision care expenses like routine eye exams, prescription glasses, and contact lenses. FlexibleSpendingAccount (FSA). HealthSavingsAccount (HSA). Hospital Insurance. Life Insurance. UHC.com ).
3 HealthInsurance Benefits. Employers who don’t offer healthinsurance might want to reconsider and employers who do should audit their healthcare offerings to determine the out of pocket costs of deductibles, prescriptions, copays and then work with benefits brokers to provide better coverage. . 4 Paid Time Off.
If you’re shopping for group healthinsurance for your company the first or second time around, it can be hard to make a confident choice. Not to mention, the Affordable Care Act (ACA) has changed the group healthinsurance market considerably. HealthSavingsAccounts. High-deductible health plans.
This can look like: Using well-known carriers for the healthinsurance options you sponsor Contributing to a healthsavingsaccount or flexiblespendingaccount for employees Offering an employee assistance program (EAP) Matching a percentage of employee retirement plan contributions.
HealthSavingsAccounts (HSAs) and FlexibleSpendingAccounts (FSAs) are two of the most effective instruments for optimizing healthsavings and financial flexibility for both employers and employees among the different components of a comprehensive benefits strategy.
A new father outlines requirements with his Baby HealthInsurance Playbook. The same can be said for insuring a new dependent. To plan for newborn healthcare benefits, parents need a baby healthinsurance playbook. The Baby HealthInsurance Playbook isn’t really a book. As Seen In.
Flexiblespendingaccounts (FSA) and healthsavingsaccounts (HSA) help employees prepare and pay for healthcare expenses. Self-Funded HealthInsurance. Smaller employers are reducing costs, gaining plan flexibility, and keeping employees happy by self-funding healthinsurance.
COBRA can provide important healthinsurance security when you’ve experienced job loss or another qualifying event. And election of COBRA can affect your ability to use the reimbursement accounts in which you were participating prior to your COBRA eligibility. You don’t have any disqualifying coverage (such as an FSA).
The specific account options you have will vary based on plans offered by your employer. Several of the most common accounts are listed here. A Medical FlexibleSpendingAccount (Medical FSA) allows you to use tax-free money to pay for your family’s medical expenses. HealthSavingsAccount.
In today’s increasingly competitive job market, offering a basic healthinsurance package is no longer enough to attract and retain top talent. The Evolution of Employee Benefits Employee benefits have come a long way since the days of basic healthinsurance coverage with a savings retirement plan thrown in.
Are you offering your employees healthinsurance 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 healthsavingsaccount. However, they cannot typically be used to cover premiums.
This cheat sheet explains several common human resource acronyms. 1099: A form that reports income from self employment earnings, interest and dividends, government payments, and more. TurboTax ) 401(k): Retirement plans named for the section of the tax code that governs them. (
Employees get to select a new plan for their healthinsurance and opt into other employee benefits for the next year. This is generally the only time health coverage changes are allowed aside from onboarding or family changes (such as marriage, divorce, or the birth of a child). It’s almost that time of year again!
Employers and employees alike are looking for ways to make health care more affordable. Some are turning to HealthSavingsAccounts (HSAs). Although HSAs won’t work for everyone, the benefits of an HSA account make this an appealing option for some individuals. What is a HealthSavingsAccount (HSA)?
HealthSavingsAccount A HealthSavingsAccount (HSA) is a type of employee-owned account that is designed to work with high-deductible healthinsurance plans. Employers can then use the ICHRA allowance to purchase healthinsurance and pay healthinsurance premiums.
It’s been a wild year for healthinsurance reform. While the Affordable Care Act has a small direct effect on employer-sponsored healthinsurance, chances are your employees are feeling uncertain about their coverage, and they’ll be coming to you for answers. HealthInsurance Is King.
When employees sign up for benefits like healthinsurance and pre-tax benefits. Generally, it is regarded as the dollar amount that is selected to be set aside in your account(s) during the year. Each account you open requires you to “set” a new election. There are a few ways to define this.
There are several different types of pre-tax benefits that you may be eligible for, including FlexibleSpendingAccounts (FSA), HealthSavingsAccounts (HSA), and Commuter Benefits. Each type of benefit can help you save money in different ways. Give Thanks for Great Benefits.
The central question of the case examines the individual mandate, which is set to go into effect in 2014 and will require most Americans to buy healthinsurance or pay a penalty. Employers and employees contribute to these accounts using pre-tax dollars. Purchase health care directly from the healthinsurance company.
HealthInsurance for Small Business. Under the ACA, small employers with fewer than 50 full-time equivalent employees are not required to offer healthinsurance or subject to the employer shared responsibility provisions. However, many small business owners offer healthinsurance coverage anyway.
Someone definitely could view an employee benefits package that lacks healthinsurance or paid sick days as a reason to not accept an offer of employment. To aid in the decision-making process, though, here’s a closer look at various types of employee benefits : Healthinsurance. HealthSavingsAccounts.
The following commonly offered employee benefits are subject to these limits: High deductible health plans (HDHPs) and healthsavingsaccounts (HSAs); Healthflexiblespendingaccounts (FSAs); 401(k) plans; and. Transportation fringe benefit plans.
This may be a good option for employers that want to simplify their health plan administration while giving employees flexibility. Integrated health reimbursement arrangements are designed to work with the group health plan. A health reimbursement plan gives employers a way to cover these costs.
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