Global healthcare benefit costs expected to jump 10% in 2023
Employee Benefit News
OCTOBER 13, 2022
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Here Are The 4 Important Insurance Terms Gen Z Employees Need To Know
Best Money Moves
OCTOBER 1, 2024
The 4 Important Insurance Terms Gen Z Employees Need To Know. Gen Z employees often struggle to understand common insurance terms. Learn about how employers can help with financial wellness benefits. Insurance is a complex topic, no matter how experienced you are.
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The Employee Healthcare Crisis: This is How To Help
Best Money Moves
SEPTEMBER 25, 2024
American families are in the midst of a healthcare crisis and employer-sponsored health insurance can’t keep up. Even with support from employee health insurance programs, millions of American families cannot afford the full care they need. Employees often pay out-of-pocket for a portion of their healthcare costs (e.g.,
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Leave health insurance to the professionals
Employee Benefit News
NOVEMBER 30, 2022
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Another year, higher healthcare prices: Are employers ready for 2025?
Employee Benefit News
NOVEMBER 18, 2024
Healthcare benefit costs will increase by 5.8% per employee, but that doesn't mean companies are powerless to do better by their workers.
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75% used workplace schemes to access healthcare services through insurance
Employee Benefits
MAY 9, 2024
million employees who accessed healthcare services through health or protection insurance in 2022, 1.3 million (75%) relied on workplace-provided schemes to do so, according to research by the Association of British Insurers (ABI). In addition, insurers arranged 1.2
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Offering a QSEHRA vs. Group Health Insurance
PeopleKeep
OCTOBER 9, 2024
The traditional healthcare benefit options for employers remain group health insurance. That’s why these business owners are turning to more cost-effective personalized benefits like the qualified small employer health reimbursement arrangement (QSEHRA). But, group policies are difficult for small employers to offer.
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What is a Healthcare Benefit Allowance?
PeopleKeep
JANUARY 21, 2021
Occasionally, the term “healthcare benefit allowance” is mentioned when discussing non-traditional health benefit options. Employers looking for an alternative to traditional group health insurance plans often ask us what a healthcare benefit allowance is.
Group health insurance vs. ICHRA
PeopleKeep
NOVEMBER 1, 2023
Employee healthcare benefits play a crucial role in attracting and retaining talent , as well as promoting overall well-being in the workplace. Traditionally, group health insurance has been the go-to option for employers.
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Insurance Benefits Costly Mistakes
Corporate Synergies
APRIL 14, 2020
Do Your Employees Understand Their Healthcare Benefits and How to Avoid Costly Insurance Mistakes? The post Insurance Benefits Costly Mistakes appeared first on Corporate Synergies.
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Buyer’s guide to private medical insurance
Employee Benefits
MAY 22, 2023
What is private medical insurance (PMI)? PMI is a type of insurance designed to cover medical expenses incurred during illness or injury, such as operations, consultations, diagnostic investigations and tests. PMI can help employees regain their health, and their earning power, quickly, to the benefit of both them and their employer.
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A Lack of Healthcare Benefits is Causing Financial Toxicity
Best Money Moves
JULY 10, 2018
A lack of healthcare benefits is causing financial toxicity for employees across the country. The truth is many employees need help navigating healthcare benefits to lower out of pocket expenses and avoid , “financial toxicity.”. They’re skipping medicines or skipping other things to buy medicines.”.
How to implement affordable healthcare benefits in a cost-of-living crisis
Employee Benefits
FEBRUARY 1, 2023
Need to know: The cost of providing or accessing benefits is always going to be a big factor for employers and employees. Many healthcare benefits can be implemented at low cost to the organisation and no cost to the employee. In the UK alone, private medical insurance (PMI) costs are anticipated to rise by 8.8%
Balancing Benefits and Wages: How Rising Healthcare Costs Impact Small Business Strategies
CorpStrat
OCTOBER 31, 2024
For small businesses, partnering with healthcare provider networks that emphasize preventive care or offering managed disease programs through their insurer can help mitigate risks associated with high-cost claims. Unfortunately, there are few tools that small employers can use to directly impact the actual claims.
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Claire Timmins: How can employers use healthcare benefits to ease the NHS backlog?
Employee Benefits
FEBRUARY 15, 2022
More reactive health interventions include private medical insurance (PMI) and employee assistance programmes (EAPs), a service for employees to access help with personal or workplace issues that might be impacting their performance, wellbeing mental or physical health. appeared first on Employee Benefits.
How Does Marriage Affect Health Insurance? | BerniePortal
BerniePortal
JULY 6, 2021
Newlyweds have plenty to navigate after they tie the knot, including how they enroll in health insurance. However, marriage is considered a qualifying event , which is any change to an individual’s circumstances that allows them to make adjustments to their benefits despite the time of the year.
Gallagher
HR Lineup
FEBRUARY 13, 2023
Gallagher is a leading insurance brokerage and risk management company that provides comprehensive employee benefits and wellbeing solutions to organizations. In addition to its physical and emotional wellbeing program, Gallagher also offers a range of other employee benefits and services.
PeopleKeep
HR Lineup
MAY 11, 2023
The PeopleKeep platform offers customizable benefits solutions for businesses of all sizes. Employers can choose from a range of pre-tax benefits, including health insurance, dental insurance, vision insurance, and other types of benefits.
HRAs for dummies
PeopleKeep
FEBRUARY 21, 2024
Healthcare is often a complex and confusing topic, especially when it comes to navigating insurance plans and understanding the different options available to your organization. HRAs have become increasingly popular in recent years as a way for employers to offer affordable healthcare benefits to their employees.
Financial Burnout in 2025: How to Address Employee Concerns
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.
Susan Gee: Can employers’ healthcare benefits fill the gap between private and NHS services?
Employee Benefits
FEBRUARY 8, 2023
Employers can negotiate preferential rates with private healthcare providers, making private healthcare more affordable for employees. Offering a range of options, such as private medical insurance (PMI) plans or health savings accounts, can help employees manage the costs of private healthcare.
Gary Stanton: Can employers’ healthcare benefits fill the gap between private and NHS services?
Employee Benefits
FEBRUARY 8, 2023
Unlike private medical insurance (PMI), premiums are not based on age and claims history, so it is a practical, cost-effective benefit for employers and employees. Gary Stanton is managing director of Atlas Security The post Gary Stanton: Can employers’ healthcare benefits fill the gap between private and NHS services?
Guide to Providing Healthcare Benefits to Employees
BerniePortal
OCTOBER 19, 2023
Starting a health insurance plan can certainly induce some headaches without the proper steps in place. A good start is to choose a benefits broker. If you’re an HR professional tasked with the responsibility of creating a plan for your organization, you may be wondering where to begin. But—this can be challenging.
SumUp ensures it offers an age-inclusive benefits package
Employee Benefits
JANUARY 15, 2024
Its benefits offering for UK-based employees includes the SumUp corporate pension scheme, private medical insurance and life insurance cover, which it primarily markets towards its older staff. Globally, it offers sabbaticals after three years at the firm, known as Break4Me.
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5 Emerging Benefits Trends to Look for in 2025
Best Money Moves
DECEMBER 9, 2024
Almost half of Americans surveyed by the Commonwealth Fund have had surprise medical bills they expected to be covered by insurance. Companies are helping employees make their healthcare costs more manageable through effective healthcare benefits.
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Here Are The 4 Important Insurance Terms Gen Z Employees Need To Know
Best Money Moves
OCTOBER 1, 2024
The 4 Important Insurance Terms Gen Z Employees Need To Know. Gen Z employees often struggle to understand common insurance terms. Learn about how employers can help with financial wellness benefits. Insurance is a complex topic, no matter how experienced you are.
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A HR guide to employee benefits
Employee Benefits
MARCH 10, 2023
Put simply, this means benefits which you get from working, in addition to your pay, that is not in the form of money. This can include free health insurance or a company car. What are flexible benefits? These benefits can include extra holiday, life insurance and childcare to name a few.
How to Use Artificial Intelligence to Guide Health Benefit Choices
WEX Inc.
MAY 17, 2019
Artificial Intelligence and Healthcare Benefits. Second only to compensation, health insurance is one of the most important benefits employers offer.
Benefits Planning 101: The Risks of a Self-Funded Policy
Total Employee Benefits
AUGUST 18, 2021
A self-funded benefits plan, or self-funded insurance, is a policy where your company assumes financial responsibility for employees’ and their dependents’ covered healthcare expenses as they arise instead of paying monthly premiums like with traditional health plans. A Quick Recap: What is a Self-funded policy?
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Here’s What You Need to Know About Stop-Loss Health Insurance
Griffin Benefits
JULY 5, 2023
One solution means looking inward: transitioning from the fully funded model of healthcare benefits to self-funded health plans featuring stop-loss insurance. Stop-loss insurance is essential for a self-funded plan because it enables an employer to cap medical claims expenses at a specific amount. WANT TO LEARN MORE?
4 Health Insurance Options For Small Business Owners
Genesis HR Solutions
SEPTEMBER 21, 2021
As one of the most expensive aspects of running a small business, health insurance is top of mind for many employers. What is the best way to provide insurance? Should you provide insurance at all? Why Health Insurance For Small Businesses Matters. Finding it a challenge to offer great benefits? Find out more here.
Role of Payroll Software in Eliminating Compliance Risks
Qandle
JANUARY 29, 2025
Benefits Compliance: Organizations must also stay compliant with benefits regulations, such as healthcare benefits under the Affordable Care Act (ACA) and retirement plans under ERISA. Failing to comply with these laws can lead to lawsuits and significant financial penalties.
The 4 Best Benefits in 2024, According to Employees
Best Money Moves
MARCH 11, 2024
The study from Forbes Advisor shows that 67% of employees and 68% of employers believe healthcare to be the most important benefit. Healthcare benefits can be wide-ranging, but usually include some sort of insurance package that helps make medical costs more affordable for employees.
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QSEHRAs and what they mean for your small business
WEX Inc.
JUNE 5, 2023
QSEHRA eligible expenses are determined by IRS Code Section 213(d) and, in the case of QSEHRAs, includes individual health insurance premiums paid by the employee. Integrated HRA’s- Must be integrated with group health insurance to help employees cover out-of-pocket healthcare costs. How does a QSEHRA compare with other HRAs?
20 Best Company Perks for Employees
Empuls
AUGUST 27, 2024
Flexible Benefits Allowance : Provide a flexible benefits package where employees can allocate funds to perks that matter most to them, such as gym memberships, childcare, or health insurance upgrades. Healthcare benefits emerged as the top priority, followed closely by flexible work hours and additional vacation days.
Baby Health Insurance Playbook: 5 Steps to Plan for a Newborn
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. The Baby Health Insurance Playbook isn’t really a book. As Seen In.
What Benefits Do Employees Want in the New Year?
Best Money Moves
DECEMBER 20, 2018
Employees want benefits that support employees’ diverse needs like transgender-inclusive healthcare benefits, fertility assistance and pet perks. Healthcare benefits have been a hot topic this year, but healthcare regulation is in flux and as costs soar across the board, cost-management has become a priority.
Wondering how to choose a professional employer organization (PEO)? Ask 7 questions
Insperity
SEPTEMBER 14, 2021
As a co-employer, the PEO you choose will ultimately take responsibility for payroll processing, providing workers’ compensation insurance coverage, providing an employee benefits package and a host of other sensitive human resources (HR) and administrative tasks. How are healthcare benefits funded?
Buyer’s guide to healthcare trusts
Employee Benefits
APRIL 3, 2024
Credit: everydayplus/shutterstock What are healthcare trusts? Healthcare trusts enable employers to provide self-funded medical cover to employees. Unlike private medical insurance (PMI), healthcare benefits are paid for from a trust fund, set up with trust rules. Are there any tax or legal issues?
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4 Top Benefits Trends for 2022
Best Money Moves
NOVEMBER 3, 2021
Employers must keep up with the needs of their employees and choose their benefits based on that information. If your workforce consists of older and more financially stable workers, cater your benefits towards retirement and healthcare benefits.
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Dear Valued Participant, we’re here for you
Benefit Resource Inc.
FEBRUARY 23, 2021
Lately, we’ve seen an uptick in questions around the roles of responsibilities of your company’s broker, your TPA (that’s us), and your health insurance provider. And where does your health insurance carrier play into this? What is a health insurance carrier? An insurance carrier is a risk-bearing entity.
[Complex Health Benefits] The Impact on Employee Productivity & Well-Being
Griffin Benefits
OCTOBER 22, 2021
One of the clearest takeaways from the research is that consumers continue to struggle with healthcare complexity. The key challenges consumers face revolve around understanding their coverage levels, making use of their benefits, finding providers, and understanding their insurance claims or bills.
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Employee wellness benefits are shifting focus to reflect modern times
Business Management Daily
MAY 17, 2021
When current and future employees examine a company’s benefits package, they typically expect to see employer-sponsored health insurance among the offerings. With rising medical costs, employee concern over health insurance coverage will not wane any time soon. Comprehensive, affordable options encourage employee retention.
How Employee Health and Wellness Programs Help Build Resiliency
Best Money Moves
OCTOBER 14, 2020
Another report by Principal found roughly 30 percent of employers plan to adapt benefits offerings to provide better mental health and wellness programs, childcare support, healthcare benefits and financial wellness programs to support employees through times of uncertainty. Insurance Solutions for Principal.
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