Remove Flexible Spending Remove Information Remove Out of Pocket Cost
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IRS Loosens Preventive Care Coverage Rules

InterWest Insurance Services

New guidance issued by the IRS expands the types of preventive care benefits that high-deductible health plans are required to cover with no out-of-pocket costs on the part of plan enrollees. The changes are aimed at reducing out-of-pocket costs for diabetes-related expenses, certain cancer screenings and contraceptives.

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It’s Time for a Mid-Year Financial Check-Up

Money Talk

In it, I urged a review of tax deductions/credits, tax withholding, budgeting/cash flow, flexible spending accounts, financial goal progress, and investment portfolio status. Now is a good time to explore money-saving strategies to reduce insurance costs. have generally trended up.

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5 ways you can help employees get the most from their benefits

Insperity

Make sure your new hires are fully informed. Be sure to provide each new hire with: A detailed, printed overview of available benefits and out-of-pocket costs, if any. Easy-to-follow instructions for how to get questions answered, including contact information for: Your internal benefits representatives.

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HRA Gym Cost Reimbursement? Not So Fast Says IRS

InterWest Insurance Services

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.

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Identify Your Workers’ Needs, Consider Costs before Open Enrollment

InterWest Insurance Services

It’s almost time for group health insurance open enrollment and your top priority should be to drive participation by helping your employees make informed decisions about their options. Typically, the higher the premium on a plan, the lower the employee’s out-of-pocket costs are.

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Top 10 Employee Benefits for 2021

Best Money Moves

The best financial wellness programs , like Best Money Moves, recognize that every worker experiences different kinds of financial stress and harnesses machine learning to guide employees to the information they need most. . 2 Flexible Work Arrangements. Each point translates into a chance to win a monthly contest. 4 Paid Time Off.

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What does coinsurance mean in health insurance?

Higginbotham

Cost Sharing in Insurance Although insurance companies take responsibility for many of the costs that arise, policyholders are also responsible for some out-of-pocket costs on top of the premium. This is called cost sharing, and it’s common in many types of insurance. What about the out-of-pocket maximum?