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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. You can tailor your employee benefits educational sessions to each generation.
For instance, many benefits plans have employee assistance programs (EAPs) with financial wellness resources that cover legal services and caregiving services that can help alleviate financial stress. The pieces that comprise healthcare and retirement plans, voluntarybenefits, and EAPs are connected.
Keep New Benefit Options Simple. After reviewing benefits and trends, you may find that adding a pre-tax benefit, such as a healthsavingsaccount (HSA), flexiblespendingaccount (FSA) or a health reimbursement account (HRA), can help the organization save money while giving employees a way to better plan their healthcare and finances.
Beyond typical medical and prescription drug benefit plans, there are a number of other benefits that can help cover medical care during pregnancy: Short-term disability, which covers maternity leave. A flexiblespendingaccount (FSA), which can be used to cover childcare and medical costs tax-free. RELATED TOPICS.
If possible, boost communication around voluntaryhealthbenefits as well as any savings products such as HealthSavingsAccounts or FlexibleSpendingAccounts employees can use to pay for health care.
USI’s benefits offerings include a comprehensive suite of health insurance options, including medical, dental, and vision insurance. The company also offers flexiblespendingaccounts (FSAs) and healthsavingsaccounts (HSAs) to help employees save money on healthcare costs.
This is especially true if you are making changes to cost-sharing, introducing new plans, or offer voluntarybenefits, a wellness plan or healthsavingsaccount or flexiblespendingaccount. You should use a variety of different media to communicate with them.
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. Voluntarybenefits can be offered with little to no out-of-pocket expense to the employer.
Flexiblespendingaccounts (FSAs) allow your employees to use pre-tax dollars to cover eligible out-of-pocket healthcare expenses, providing a tax-efficient way to manage medical costs. Check out our other compliance blog posts on HSAs , HRAs , LSAs , and voluntarybenefits.
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