Blue Shield's virtual-first health plan comes with $0 out-of-pocket costs
Employee Benefit News
FEBRUARY 13, 2023
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What are reimbursable out-of-pocket costs?
PeopleKeep
FEBRUARY 14, 2022
With the cost of health insurance coverage on the rise and consumers seeing their once low deductibles grow sky high, many Americans have been forced to pay more for their healthcare without the help of insurance. These costs that aren’t covered by insurance companies are called “out-of-pocket” costs.
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Innovation is a driving force behind mental health parity
Employee Benefit News
SEPTEMBER 20, 2023
Hybrid plan designs that reduce out-of-pocket costs will make benefits more accessible and ultimately help level the playing field.
What (Most) Decision-Support Tools Get Wrong
Flimp Communications
SEPTEMBER 19, 2024
As benefits — particularly healthcare plans — become more complex, and employees have less and less time to consider their options, the market demands solutions that simplify and streamline the benefits enrollment process while guiding employees toward satisfying, cost-effective selections. It shouldn’t be surprising.
Managing Employee Healthcare Costs in 2021
Best Money Moves
NOVEMBER 4, 2020
Managing employee healthcare costs in 2021. What the average health insurance premium costs and changes employers are making to health benefits offerings in the new year. Indeed, many plan to add new resources to better support healthcare needs in light of COVID-19. Managing Employee Healthcare Costs in 2021.
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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.
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.”. He says, “To many people, $160 is a lot of money.
3 in 4 Workers Would Accept Lower-Pay for Better Benefits: Survey
InterWest Insurance Services
OCTOBER 17, 2024
A new study has found three out of four U.S. The main driver in workers prioritizing benefits is the rapidly rising cost of group health insurance premiums and out-of-pocket costs, according to the study by Voya Financial.
5 Must-Have Benefits for Millennial Employees
Best Money Moves
MAY 22, 2019
Research by the West Health Institute/NORC at the University of Chicago found more than 40 percent of Americans didn’t see a physician when they were sick or injured because of high healthcare costs. Comprehensive healthcare plans that reduce out of pocket costs for employees will be highly attractive to millennial employees.
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How to Retain Hourly Employees
Best Money Moves
MAY 28, 2019
High out-of-pocket costs for healthcare have led to financial toxicity , which happens when Americans skip medications that could improve their quality of life because they can’t afford them. More than 40 percent of Americans don’t see a physician when they are sick or injured because of high healthcare costs.
Covered Employees Can Save Using Healthcare Bluebook
Employer Connection
APRIL 9, 2024
Remind covered employees to shop online for healthcare using Healthcare Bluebook TM. Employees can shop for medical procedures provided by doctors and facilities in their area to find high-quality, affordable care and get an out-of-pocket cost estimate. and Trustmark Life Insurance Company.
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Employers Prioritizing Enhanced Benefits in New Year, Not Cost-Cutting
InterWest Insurance Services
JANUARY 5, 2023
With Americans increasingly struggling to pay their health care bills, more employers are shying away from only offering their workers high-deductible health plans (HDHPs) that reduce premiums up front for higher out-of-pocket costs for workers. Instead, they are tackling it in different ways than in the past.
Spring Cleaning with Your Eligible Expenses
Benefit Resource Inc.
APRIL 20, 2023
This is a great opportunity to review your expenses and ensure you’re taking advantage of all the ways you can save on healthcare expenses. Additionally, your employer may offer seminars or workshops on topics like eligible expenses, tax savings, and healthcare planning.
6 tips to help employees manage out-of-pocket expenses
Benefit Resource Inc.
FEBRUARY 2, 2023
Employees have a better chance of managing out-of-pocket spending when they understand how their out of pocket expenses can be reduced and what type of savings will come along with that. To help you get started, here are 6 tips to help employees manage their out-of-pocket expenses.
Hospitals Are Hiding Prices from Patients, Advocacy Report Says
InterWest Insurance Services
OCTOBER 20, 2022
The Centers for Medicare and Medicaid Services’ transparency rules were implemented to shine the light on what hospitals charge for their various medical services, the negotiated rates insurers have with health plans and the out-of-pocket costs enrollees can expect to pay for these services.
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5 Benefits to Help Employees Cope with Inflation
Best Money Moves
JUNE 1, 2022
According to the Kaiser Family Foundation, 46% of employees reported that they have less than $1,000 in out-of-pocket costs for any unexpected hospital/doctor visit. According to AFLAC, about half of all employees report having anxiety about covering the cost of healthcare beyond what their insurance covers.
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Covered Employees Can Save Using Healthcare Bluebook
Employer Connection
SEPTEMBER 12, 2023
Remind covered employees to shop online for healthcare using Healthcare Bluebook TM. Employees can shop for medical procedures provided by doctors and facilities in their area to find high-quality, affordable care and get an out-of-pocket cost estimate. and Trustmark Life Insurance Company.
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Covered Employees Can Save Using Healthcare Bluebook
Employer Connection
JUNE 15, 2023
Remind covered employees to shop online for healthcare using Healthcare Bluebook TM. Employees can shop for medical procedures provided by doctors and facilities in their area to find high-quality, affordable care and get an out-of-pocket cost estimate. and Trustmark Life Insurance Company.
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40 3 questions employees should ask before Open Enrollment 2020
Benefit Resource Inc.
SEPTEMBER 22, 2020
Healthcare is complicated, so how can you get the most out of Open Enrollment 2020? Question 1: What were my healthcare expenses last year? Determine, at a 2,000 foot level, what your expenses were in the healthcare category. Add an extra 10-20% to your estimated costs to account for unexpected expenses.
Healthcare Must be Focused on the Patient Journey
HR Professionals Magazine
JUNE 28, 2023
As the healthcare landscape has evolved to value-based care, employers, payers and pharmacy benefit managers (PBMs) have implemented new strategies to improve quality of care and affordability. That’s why, now more than ever, it is imperative that healthcare is focused on the patient journey. Economic Costs of Diabetes in the U.S.
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Examples of fringe benefits by category
Business Management Daily
APRIL 29, 2024
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. However you may feel about the government’s responsibility to cover healthcare needs, it’s a fact that healthcare-related bankruptcies are on the rise.
Reminder: How Your Covered Employees Can Access Quality, Affordable Healthcare
Employer Connection
FEBRUARY 3, 2023
Remind your covered employees to use Healthcare Bluebook TM for help in locating doctors and facilities in their area with the best quality and price on a medical test, imaging or procedure. and who use Healthcare Bluebook will see estimated out-of-pocket costs, based on their plan. Learn more.
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FSA eligible expenses — what purchases count?
Business Management Daily
NOVEMBER 15, 2021
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.
Employers Focus on Cost Containment, Mental Health and Telemedicine
InterWest Insurance Services
MAY 25, 2022
Additionally, virtual care is expected to become an essential and long-lasting feature of employers’ health insurance and employee benefits strategies over the next few years, according to the “2022 Emerging Trends in Healthcare Survey” by Wills Towers Watson. Making changes to their employees’ out-of-pocket costs.
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Top 10 Employee Benefits for 2021
Best Money Moves
JULY 8, 2020
Employers who don’t offer health insurance 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.
Benefits Advocate: The Secret to Healthcare Literacy and Cost Control
Corporate Synergies
MARCH 25, 2019
A benefits advocate who delivers the how and why of plan use when employees are asking for assistance helps the employer control health insurance costs. Elevating employee healthcare literacy can ward off potential issues, but the process should begin at the point when plan participants need help: when they call a benefits advocate for help.
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How Does Dental Insurance Work and Is It Worth It?
Fringe Benefit Analysts
AUGUST 15, 2023
Deciding if the cost of dental insurance is worth it requires considering how much you may spend annually on dental services. Is Dental Insurance Worth It? was $128.75 per person. Without dental insurance , you or your employees could be faced with steep dental bills, or you may even avoid getting dental care altogether.
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How to tell if your HDHP is HSA-qualified
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. So how do you know if your HDHP is HSA-qualified?
My Life in Benefits Age 45: Mammogram Screening
Benefit Resource Inc.
JUNE 6, 2019
Price transparency continues to be an issue in healthcare, but recent legislation has been aimed at repairing that. In situations like others and other healthcare decisions, we hope price transparency will continue to be a priority. If you liked this blog, you may also like: Negotiating Your Healthcare Bills.
How a group coverage HRA and an HSA compare
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).
How to Help Employees Prepare for Open Enrollment 2020
Best Money Moves
OCTOBER 16, 2019
It’s unfortunate employees are rushing benefits decisions, especially when employers are taking a more active role in driving down healthcare costs. What can employers do to help employees better understand how different health insurance plans affect out-of-pocket costs for healthcare?
Easing the Benefits Enrollment Process with Decision Support and More
Flimp Communications
NOVEMBER 15, 2019
It’s that time of year again, when many companies roll out new or returning healthcare options to employees. What employees want when determining their healthcare options doesn’t always match what employers think they want. A February 2019 HR Dive article lays out some revealing statistics about employee healthcare illiteracy.
Chronic Conditions Driving Health Care Costs
InterWest Insurance Services
NOVEMBER 22, 2023
Take advantage of essential services To keep their disease from worsening or to identify possible health issues that may be developing, it’s vital that plan enrollees take advantage of preventive services that the Affordable Care Act requires be offered with no out-of-pocket costs: Screenings and counseling.
What is an HDHP?
WEX Inc.
APRIL 25, 2024
The deductible is the amount you must pay out-of-pocket for covered healthcare services before your insurance plan begins to pay. This means that you’ll have to pay a significant amount out-of-pocket for healthcare services before your insurance coverage kicks in. How does an HDHP work?
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.
Anatomy of an Effective Benefits Decision-Support Initiative
Flimp Communications
OCTOBER 15, 2019
Open enrollment season for healthcare is here, and the time for benefits decision-support tools to shine is now. Basically, you don’t want people taking out a policy when they need it and then dropping it once the crisis has passed. I’m old enough that I remember when companies discussed healthcare in your welcome packet.
Understanding the Pre-Deductible Telehealth Coverage Extension
Benefit Resource Inc.
JANUARY 4, 2023
This is excellent news for employers and HR professionals who want to provide employees with access to affordable healthcare services. The two-year renewal of pre-deductible telehealth coverage will allow employers and their employees better access to healthcare services without having to pay large out-of-pocket costs.
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Changing Your Benefits Plan? Consider the Soft Costs
Total Employee Benefits
OCTOBER 15, 2021
Shifting to a new medical insurer may make significant changes to which providers are considered in-network and may force employees to change medical providers or incur higher out-of-pocket costs to stay with their current doctor. There may also be changes in what services require prior authorizations on different plans.
Having a Baby? Use Your Pre-Tax Funds to Save
Benefit Resource Inc.
JANUARY 3, 2022
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). Did you know having a child qualifies for special enrollment?
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Top 3 Hiring Trends for 2020
Best Money Moves
DECEMBER 18, 2019
Employers can also remind employees when it’s time to get flu shots, when open enrollment starts, and have someone available to review healthcare benefits and out-of-pocket costs to help them better understand changes each year. .
New Insulin Price Cap Could End Up Saving Payers Money in the Long Run
HR Digest
MARCH 24, 2023
In January, the Inflation Reduction Act capped the monthly out-of-pocket insulin costs at $35 for seniors on Medicare. Reducing out-of-pocket cost-sharing for insulin does mean payers and insurers may be covering a greater share of the costs.
How Your Covered Employees Can Find Quality, Affordable Care
Employer Connection
DECEMBER 5, 2022
They also can see estimated out-of-pocket costs, based on their health benefit plan. The easy-to-use, intuitive tool from Healthcare Bluebook is offered at no additional cost to covered employees via their employer-sponsored plan. Effective Jan. Visit the Trustmark Regulatory Updates blog for more information.
5 Things You Didn’t Know About Your FSA
CorpStrat
FEBRUARY 22, 2023
One of the biggest financial challenges people in the US are facing is whether or not they’re able to afford healthcare. Healthcare costs have risen faster than inflation. In 2023, having some money set aside to cover these out-of-pocket costs is critical for most employees.
16+ types of employee benefits you should consider
Genesis HR Solutions
SEPTEMBER 22, 2020
Cancer insurance is supplemental insurance, and most types pay policyholders a lump sum upon diagnosis with a covered cancer, while others offer supplemental payments for healthcare costs. Accident insurance helps employees pay for the medical and out-of-pocket costs that you may incur after an accidental injury.
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