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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.
Healthcare costs can be a major concern for many employers and employees. Healthsavingsaccounts (HSAs) and traditional healthinsurance plans are two common options for managing healthcare expenses, but they have some key differences.
The advancing technology has brought about positive changes in the healthcare industry. It’s now easier for patients to access cutting-edge services, which in return have boosted the overall effectiveness of health services. This includes providing the best medical insurance for patients to fully benefit from various health centers.
As we approach the 2024 United States presidential election, Chris Byrd, senior vice president, health executive and, more broadly, head of Government Affairs at WEX, joined our Benefits Buzz podcast for an insightful conversation on how election years can influence employee benefits.
Surprise bills and billing errors are driving growing dissatisfaction among Millennials and Gen Zers with their healthinsurance, a new study has found. Already facing outsized medical cost hits, an increase in billing mistakes and surprise bills is contributing to a dim view of healthinsurance among Millennials and Gen Zers.
It’s your best chance to evaluate your healthcare needs and identify opportunities to better support yourself and your family. If you’re one of that majority, you may be missing out on multiple ways to save, either through the health plan you choose or through the benefits you enroll in.
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.
USI’s benefits offerings include a comprehensive suite of healthinsurance options, including medical, dental, and vision insurance. The company also offers flexible spending accounts (FSAs) and healthsavingsaccounts (HSAs) to help employees save money on healthcare costs.
Employers can choose from a range of pre-tax benefits, including healthinsurance, dental insurance, vision insurance, and other types of benefits. In addition to its benefits offerings, PeopleKeep also provides a range of educational resources to help businesses understand the complexities of healthcare benefits.
It’s your best chance to evaluate your healthcare needs and identify opportunities to better support yourself and your family. If you’re one of that majority, you may be missing out on multiple ways to save, either through the health plan you choose or through the benefits you enroll in.
Many organizations provide a healthsavingsaccount (HSA) to their employees to offset rising healthcare costs. While HSAs are employee-owned accounts, many employers wonder if they can contribute to their employees’ HSAs, and—if so—how much. But employer contributions to HSA rules can be challenging to manage.
Half (54%) would prefer employers invest more in healthinsurance, while 43% would like more on retirement plans. Following retirement (73%) and healthcare (72%), employees vary in what benefits they believe to be most key to financial wellbeing.
As the cost of healthcare continues to rise, private employers are searching for new and innovative ways to provide healthinsurance for their employees. Here we will take a look at some of the latest trends in healthinsurance for private employers. The Rise of High Deductible Health Plans.
And it’s a solution you might already be offering: the healthsavingsaccount. These accounts provide another way for your employees to diversify their efforts to prepare for retirement. A 401(k) is a tax-deferred account where individuals do not pay income taxes on amounts contributed,” Cook said. Yes,” Cook said.
These benefits range from healthinsurance to retirement plans, paid time off (PTO), and wellness programs. Some of its key components include: Healthinsurance: Covers medical expenses. This includes offering high-deductible health plans combined with HealthSavingsAccounts (HSAs) to help employees manage costs.
For first-time healthinsurance and benefits electees, we’re kicking off a three-part blog series just for you to walk through considerations when making these decisions. For starters, let’s look at a few considerations when evaluating health plans for the first time. Be mindful of healthinsurance enrollment periods.
Of course, not all medical expenses are covered by an individual’s healthinsurance plan. A healthsavingsaccount is an excellent employee benefit to accompany a high-deductible health plan, and account-holders should be encouraged to take advantage of these tax-free funds.
A healthsavingsaccount (HSA) is an employee-owned account designed to set aside pre-tax money to pay for qualified medical expenses such as deductibles, copayments, coinsurance, and other out-of-pocket expenses included in IRS publication 502.
As one of the most expensive aspects of running a small business, healthinsurance is top of mind for many employers. What is the best way to provide insurance? Should you provide insurance at all? Why HealthInsurance For Small Businesses Matters. HealthInsurance For Small Business Owners: 4 Options.
workers would accept a job with a slightly lower salary if it offered better health care and medical coverage. The main driver in workers prioritizing benefits is the rapidly rising cost of group healthinsurance premiums and out-of-pocket costs, according to the study by Voya Financial.
There are a few different types of medical reimbursement plans including: Health Reimbursement Arrangements (HRAs), Healthcare Reimbursement Plans (HRPs), HealthSavingsAccounts (HSAs), and Health Flexible Spending Accounts (FSAs). Flexible Spending Accounts (FSAs). Who May Contribute.
According to a recent survey , 35 percent of employees don’t understand their healthcare coverage, and another 33 percent don’t understand their medical bills. And, sadly, almost two-thirds (62 percent) of survey participants said their employer is not a resource for healthcare-related questions.
From free gourmet meals and on-site healthcare to nap pods and fitness centers, Google’s perks are designed to make work a place where employees can thrive, both personally and professionally. Healthcare benefits emerged as the top priority, followed closely by flexible work hours and additional vacation days.
Healthcare, including mental health, telemedicine services, and wellness. Employees still want traditional options such as retirement plans, educational assistance, and healthinsurance. Accident and Health Benefits . Group-term life insurance . HealthSavingsAccounts. These include: .
But even if this is the case, most Americans don’t realize they can comparison shop to make sure they’re getting the best price for their healthcare services. Paying more for healthcare doesn’t necessarily mean higher quality service or better outcomes. According to Healthcare Bluebook data, U.S. Educate Employees. Conclusion.
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.
The IRS recently issued new 2022 contribution limits for healthsavingsaccounts (HSA), which represent the total amount of tax-advantaged dollars that participants can deposit into these accounts. Find out what these limits are and how employers can alert employees about the changes.
Offering employee benefits to support access to private healthcare can be cost-effective for employers in the UK, given the demands and waiting times on the NHS. Employers can negotiate preferential rates with private healthcare providers, making private healthcare more affordable for employees.
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 looking to supplement your organization’s group healthinsurance plan to help cover your employees’ out-of-pocket costs, you have two main options: Section 105 plans , such as the group coverage HRAs (GCHRAs), and Section 125 cafeteria plans , such as healthsavingsaccounts (HSAs).
While flexible spending accounts are typically associated with medical costs there are a couple of different types of FSAs. Healthcare FSA. The most commonly used FSA is the healthcare FSA. The maximum that an employee may contribute to a healthcare FSA is $2,750. Healthcare FSAs. Pregnancy tests.
Changing life events in the middle of the year usually means changes to your healthinsurance plan. If an employee enrolls in a high-deductible health plan (HDHP) mid-year, how does that affect the amount they can contribute to their healthsavingsaccount (HSA)?
Employers offering a high deductible health plan (HDHP) have several ways to offset the higher out-of-pocket costs and make the benefit more meaningful for employees. One way is to offer a healthsavingsaccount (HSA) alongside the HDHP. So how do you know if your HDHP is HSA-qualified?
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!
Healthinsurance Arguably, this is the most important prerequisite of a good benefits package. It will keep the staff covered against all manner of medical facilities and remuneration for partaking in various healthcare services. Types of benefits 1. Solutions implemented 1.
Employees don’t pay taxes on this money, which means they save an amount equal to the taxes they would have paid on the money you set aside. HealthSavingsAccount (HSA). Critical Illness Insurance. Hospital Insurance. Hospital insurance is healthinsurance for hospital costs.
HealthSavingsAccount. A HealthSavingsAccount is the only pre-tax benefit account that offers a triple tax benefit. Additionally, unlike other pre-tax accounts, an HSA does not have a specific window in which funds must be used. However, the two accounts are entirely separate.
Employee Healthcare Reminders: This time of year typically creates a lot of consumer confusion, and getting all the facts straight can be tricky. Report healthinsurance Do your employees have coverage through your workplace? Report healthinsurance Do your employees have coverage through your workplace?
Flexible spending accounts (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.
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. Many people find healthinsurance terms to be confusing.
Screening mammograms are free through almost every insurance plan. From ACA marketplace insurance, to private and group healthinsurance. Thankfully, she was able to pay through our HealthSavingsAccount (HSA) with her benefits card. 4 Steps to be a Smart Healthcare Consumer.
HealthSavingsAccounts (HSAs) and Flexible Spending Accounts (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 good regular salary may have been enough years ago, back when government subsidies managed things like healthcare and retirement, but those programs have become less and less effective. Health & wellness Insurance plans are expensive, especially in the U.S. Most employees expect benefits. People want more.
Even with healthinsurance, labor and delivery can cost around $5,000, and without insurance, it can be upwards of $40,000. Fortunately, one great way to help with out-of-pocket costs is utilizing a HealthSavingsAccount (HSA). The cost of having a baby is no small fee.
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