InterWest Insurance Services

JANUARY 27, 2023

Even if you are providing them with a robust plan, there are often out-of-pocket cost-sharing and deductibles to contend with. For employees in high-deductible health plans, the costs can be steep. Many preventative services are covered with no out-of-pocket cost-sharing, but checkups usually are not.

Out of Pocket Cost 93

Out of Pocket Cost 401(k) Deductions Deductible 93

InterWest Insurance Services

AUGUST 1, 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 Deductions Deductible 98

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 97

Family and Medical Leave Act Out of Pocket Cost Deductions Deductible 97

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

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 97

Medical Health Insurance Out of Pocket Cost Deductions 97

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

AUGUST 10, 2022

Employers who offer health savings account-eligible high-deductible health plans (HDHPs) to employees can significantly expand pre-deductible coverage for certain drugs used to manage chronic conditions — with only a tiny effect on premiums.

Deductions 97

Deductions Deductible Family and Medical Leave Act Health Savings Account 97

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 96

Employment Out of Pocket Cost Health Insurance Health Savings Account 96

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 97

Out of Pocket Cost Health Savings Account Health Insurance Medical 97

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 Deductions 52

InterWest Insurance Services

JUNE 27, 2024

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.

Out of Pocket Cost 94

Out of Pocket Cost Flexible Spending Account Food Health Savings Account 94

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 64

Out of Pocket Cost Deductions Deductible Voluntary Benefits 64

Benefit Resource Inc.

APRIL 20, 2023

If you have a high deductible health plan, which can be paired with an HSA (Health Savings Account), talk to your insurer or employer about any available discounts or incentive programs that may reduce your out-of-pocket costs.

Out of Pocket Cost 83

Out of Pocket Cost Flexible Spending Account Flexible Spending Health Savings Account 83

InterWest Insurance Services

DECEMBER 29, 2023

What small firms can do While small employers really can’t do anything about rising group health plan costs, they can take steps to ease their employees’ premium obligations and out-of-pocket costs: Assume more of the premium — If it’s within their budget, they can increase the amount of family coverage premium they will cover.

Deductions 93

Deductions Deductible Out of Pocket Cost Health Savings Account 93

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. Pet perks include allowing employees to bring pets to work, offering pet insurance or paid time off for new pet owners. . #10 4 Paid Time Off. 10 Social Responsibility Benefits.

Employee Benefits 111

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

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 Deductions 52

Genesis HR Solutions

SEPTEMBER 22, 2020

There are four major types of employee benefits many employers offer: medical insurance, life insurance, disability insurance, and retirement plans. Medical Insurance. Medical insurance is likely a no-brainer— it’s one of four major types of benefits most employers offer. Dental Insurance. Vision Insurance.

401(k) 98

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

WEX Inc.

APRIL 25, 2024

An HDHP is a type of health plan characterized by its higher deductibles and typically lower premiums compared to traditional health plans. The deductible is the amount you must pay out-of-pocket for covered healthcare services before your insurance plan begins to pay. How does an HDHP work?

Health Savings Account 52

Health Savings Account Deductions Deductible Out of Pocket Cost 52

Benefit Resource Inc.

SEPTEMBER 22, 2020

An out of pocket expense is the amount you have to pay after insurance has covered a service. Check out this blog on redefining jargon.). Determining out of pocket expenses can be a bit more difficult. As a starting point, look at your current benefits to determine any co-pay or co-insurance amounts.

Out of Pocket Cost 81

Out of Pocket Cost Deductions Deductible Healthcare 81

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 Deductions 52

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 42

Health Insurance Insurance Out of Pocket Cost Health Savings Account 42

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

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

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. Health & wellness Insurance plans are expensive, especially in the U.S.

Out of Pocket Cost 84

Out of Pocket Cost PTO 401(k) Deductions 84

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 Deductions Deductible 52

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. So it is subject to the typical insurance plan red tape. If you haven’t met your deductible, you will have to pay a portion of the cost-sharing based on your plan.

Out of Pocket Cost 61

Out of Pocket Cost Health Savings Account Mining Healthcare 61

Best Money Moves

OCTOBER 22, 2024

Healthcare costs and employee financial burnout Many workers face especially high anxiety over healthcare costs. According to the 2023-2024 Aflac WorkForces Report, 50% of workers report anxiety about out-of-pocket health care expenses, even beyond what insurance covers.

Out of Pocket Cost 59

Out of Pocket Cost Healthcare Health Savings Account Medical 59

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

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

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.

Deductions 52

Deductions Deductible Health Savings Account Health Insurance 52

Benefit Resource Inc.

JANUARY 8, 2019

While every plan has a run-out period, it can range from 30 days to as high as 120 days. If you have a Health Savings Account, you will receive periodic paper statements. To make sure you get the most out of your HSA, you can opt to go paperless and avoid the monthly fee. Avoiding fees by switching to paperless.

Health Savings Account 51

Health Savings Account Out of Pocket Cost Deductions Deductible 51

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. They have to pay a deductible.

Out of Pocket Cost 52

Out of Pocket Cost Flexible Spending Account Medical Deductions 52

Best Money Moves

OCTOBER 22, 2024

Healthcare costs and employee financial burnout Many workers face especially high anxiety over healthcare costs. According to the 2023-2024 Aflac WorkForces Report, 50% of workers report anxiety about out-of-pocket health care expenses, even beyond what insurance covers.

Out of Pocket Cost 52

Out of Pocket Cost Healthcare Health Savings Account Medical 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

Very generally speaking, the main considerations to worry about boil down to three things: the plan’s benefits, costs, and choices,” says Boyle. Here’s some information that may help you identify your company’s and employees’ medical insurance wants and needs. Health Care Costs. Health Plan Benefits and Choices.

Health and Welfare 40

Health and Welfare Deductions Deductible Out of Pocket Cost 40

Griffin Benefits

JULY 30, 2021

With over half of today's workforce enrolled in high-deductible health plans (51%), a majority of insured individuals are now on the hook for deductibles of at least $1,400. Paying for some prescription drugs without using an insurance plan means that what a consumer pays often does not apply to their deductible. Pill-Splitting.

Medical 52

Medical Pharmaceutical Deductions Deductible 52