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Patient financial responsibility is on the rise—average out-of-pocketcosts rose 11% in 2017 alone. 1 Many of them are still learning how to choose the right benefits each year so they get the coverage they need without overpaying or getting stuck with unexpected costs. RELATED TOPICS. Offer HDHP and HSAs?
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.
Employees have a right to understand the costs they’ll be facing in each plan, including: Their share of the premium, Their deductible, Their copays or coinsurance, and Other out-of-pocket expenses. Typically, the higher the premium on a plan, the lower the employee’s out-of-pocketcosts are.
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