InterWest Insurance Services

AUGUST 22, 2023

If you are running a business, you need to get an early start on preparations for your small group health plan open enrollment, particularly now as so much confusion abounds about the state of health insurance in the country. Going out of network is discouraged with high out-of-pocket costs.

Family and Medical Leave Act 98

Family and Medical Leave Act Out of Pocket Cost Deductible Deductions 98

InterWest Insurance Services

MARCH 4, 2022

As rising health insurance 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.

Medical 98

Medical Health Insurance Out of Pocket Cost Deductible 98

Higginbotham

FEBRUARY 21, 2023

You’re reading your health insurance policy and come across a coinsurance clause. Here’s what you need to know about this common insurance term. This is called cost sharing, and it’s common in many types of insurance. Cost sharing helps insurance companies and policyholders achieve certain goals.

Health Insurance 52

Health Insurance Out of Pocket Cost Insurance Deductible 52

InterWest Insurance Services

MARCH 16, 2023

The poll of 26 health benefits decision-makers at large firms, carried out by The Commonwealth Fund and the Employee Benefits Research Institute (EBRI), found that despite rising premium and health care costs, they felt obligated to offer health insurance instead of shunting employees to exchanges.

Health Insurance 98

Health Insurance Employment Out of Pocket Cost Health Savings Account 98

InterWest Insurance Services

JULY 13, 2023

Employers who were surveyed for a new report expected that group health insurance premiums would increase 5.4% this year and at a faster clip in 2024 as inflation hits medical costs. 24% said they would up employee cost-sharing, but by less than the projected increase. copay plan). copay plan).

Employment 98

Employment Out of Pocket Cost Health Insurance Health Savings Account 98

InterWest Insurance Services

JUNE 2, 2023

Employers offer flexible savings accounts and health savings accounts to their employees so they can build up funds with pre-tax dollars to pay for health care and related expenses.

Out of Pocket Cost 98

Out of Pocket Cost Health Savings Account Medical Health Insurance 98

InterWest Insurance Services

MARCH 15, 2022

It’s no secret that most employees do not fully understand all of their health insurance benefits, which can lead to worse health outcomes and them spending more money than they need to for some medical procedures. Overtreatment and unnecessary treatments can lead to worse health outcomes and higher out-of-pocket costs.

Out of Pocket Cost 98

Out of Pocket Cost Health Savings Account Health Insurance Medical 98

InterWest Insurance Services

JANUARY 18, 2024

With more than half of all private sector employees enrolled in high-deductible health plans , it’s important that employers have in place certain protocols to ensure that they are a success. Providers in an insurer’s network may charge vastly different rates for the same procedure.

Out of Pocket Cost 82

Out of Pocket Cost Deductible Deductions Voluntary Benefits 82

Insperity

MAY 13, 2015

If you’re shopping for group health insurance 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 health insurance market considerably. The main oversight: Ruling out HSA-qualified plans.

Health Insurance 43

Health Insurance Insurance Out of Pocket Cost Health Savings Account 43

Higginbotham

JANUARY 27, 2023

Although some small business owners may feel overwhelmed by the prospect of offering health insurance 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 health insurance anyway.

Health Insurance 52

Health Insurance Insurance Benefits Package Out of Pocket Cost 52

PeopleKeep

NOVEMBER 12, 2021

If you’re looking to supplement your organization’s group health insurance 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 health savings accounts (HSAs).

Health Savings Account 52

Health Savings Account Out of Pocket Cost Health Insurance Deductible 52

Best Money Moves

JULY 8, 2020

3 Health Insurance Benefits. Nearly 60 percent said they wouldn’t have been able to afford the cost of care otherwise. Most employees (56 percent) have used a credit card to pay for medical care at some time in their lives and more than half of them still owe money because of that decision, according to research by CompareCards.

Employee Benefits 111

Employee Benefits Out of Pocket Cost Flexible Spending Account Health Insurance 111

Corporate Synergies

FEBRUARY 11, 2019

A new father outlines requirements with his Baby Health Insurance Playbook. The same can be said for insuring a new dependent. To plan for newborn healthcare benefits, parents need a baby health insurance playbook. Patient financial responsibility is on the rise—average out-of-pocket costs rose 11% in 2017 alone.

Health Insurance 47

Health Insurance Insurance Insurance Carriers Out of Pocket Cost 47

PeopleKeep

OCTOBER 29, 2021

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 health savings account (HSA) alongside the HDHP.

Out of Pocket Cost 52

Out of Pocket Cost Health Savings Account Health Insurance Deductible 52

Genesis HR Solutions

SEPTEMBER 22, 2020

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. Health Savings Account (HSA). Hospital Insurance. Hospital insurance is health insurance for hospital costs. Life Insurance. UHC.com ).

401(k) 98

401(k) Employee Benefits roth 401(k) Disability Insurance 98

Higginbotham

NOVEMBER 28, 2022

Employers and employees alike are looking for ways to make health care more affordable. Some are turning to Health Savings Accounts (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 Health Savings Account (HSA)?

Health Savings Account 52

Health Savings Account Out of Pocket Cost Deductible Deductions 52

Higginbotham

SEPTEMBER 16, 2024

Are you offering your employees health insurance 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 health savings account. Many people find health insurance terms to be confusing.

Deductible 52

Deductible Deductions Health Savings Account Health Insurance 52

Benefit Resource Inc.

JANUARY 3, 2022

The cost of having a baby is no small fee. Even with health insurance, 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 Health Savings Account (HSA).

Taxes 72

Taxes 401(k) Out of Pocket Cost Health Savings Account 72

Benefit Resource Inc.

JUNE 6, 2019

Screening mammograms are free through almost every insurance plan. From ACA marketplace insurance, to private and group health insurance. Thankfully, she was able to pay through our Health Savings Account (HSA) with her benefits card. Most of us think that mammograms are free.

Out of Pocket Cost 61

Out of Pocket Cost Health Savings Account Mining Healthcare 61

Business Management Daily

APRIL 29, 2024

Different benefits appeal to different teams, but what matters most is providing more than just the bare minimum—health insurance, workers’ compensation, and a competitive salary. HMO plans often have lower premiums and out-of-pocket costs compared to other plans.

Out of Pocket Cost 84

Out of Pocket Cost PTO 401(k) Deductible 84

Business Management Daily

NOVEMBER 15, 2021

Limited Purpose FSA: An FSA that covers out-of-pocket costs for dental and vision care, but not standard medical care. These are generally offered in conjunction with a health savings account (HSA) that will set aside money separately for medical expenses. Health insurance premiums including COBRA premiums.

Flexible Spending Account 98

Flexible Spending Account Flexible Spending Medical Healthcare 98

Higginbotham

OCTOBER 14, 2022

Health Insurance for Small Business. Under the ACA, small employers with fewer than 50 full-time equivalent employees are not required to offer health insurance or subject to the employer shared responsibility provisions. However, many small business owners offer health insurance coverage anyway.

Employee Benefits 52

Employee Benefits Family and Medical Leave Act Disability Insurance Paid Sick Leave 52

Higginbotham

JULY 12, 2022

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 benefit reimbursement plan offers a way to cover these costs. Comparing HRAs, HSAs and FSAs.

Out of Pocket Cost 52

Out of Pocket Cost Flexible Spending Account Medical Deductible 52

Benefit Resource Inc.

OCTOBER 24, 2019

But for those who don’t live in a daily world of healthcare jargon, what are out of pocket expenses? An out-of-pocket expense, according to HealthCare.gov , is “Your expenses for medical care that aren’t reimbursed by insurance. Type of Insurance Plan. Pre-tax Account You Can Enroll In*.

Out of Pocket Cost 45

Out of Pocket Cost Flexible Spending Account Flexible Spending Health Savings Account 45

Insperity

AUGUST 10, 2011

Employees who don’t go to see the doctor much probably won’t mind paying a higher deductible in exchange for lower monthly premiums, whereas workers who tend to have more health problems might prefer lower deductibles. Low co-pays and prescription costs usually result in higher premiums. Health Plan Benefits and Choices.

Health and Welfare 40

Health and Welfare Deductible Deductions Out of Pocket Cost 40

InterWest Insurance Services

SEPTEMBER 27, 2023

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.

Out of Pocket Cost 93

Out of Pocket Cost Flexible Spending Account Health Savings Account Health Insurance 93

Higginbotham

MARCH 17, 2022

Transparency in Health Coverage. As we discussed in our CAA webinar last July and our January compliance update, new transparency in coverage requirements apply to group health plans and health insurers in the individual and group markets. Some State Insurance Mandates May Affect Health Savings Account Eligibility.

Health Insurance 52

Health Insurance Out of Pocket Cost Insurance Health Savings Account 52

InterWest Insurance Services

JANUARY 26, 2022

The report states that the findings raise concerns about whether some employees can even afford to use their health plans. It stressed two main points: High deductibles — The report found one of the main drivers of stress was high deductibles and other out-of-pocket costs.

Out of Pocket Cost 98

Out of Pocket Cost Deductible Deductions Flexible Spending Account 98

WEX Inc.

OCTOBER 17, 2024

How past elections shaped policy From the creation of health savings accounts (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?

Employee Benefits 59

Employee Benefits Flexible Spending Account Health Savings Account Out of Pocket Cost 59