HR Professionals Magazine

NOVEMBER 1, 2023

Because each covered procedure and each medical provider in a network will have their own negotiated arrangement, these files can be massive. for, and your plan might be paying $1,500.00, for the same procedure performed by the same medical provider at the same facility. The short version: the buck has been passed to you. Not so much.

Medical 52

Medical Management Out of Pocket Cost Healthcare 52

InterWest Insurance Services

MAY 18, 2023

” HDHP enrollees enjoy lower up-front premium costs in exchange for higher potential out-of-pocket costs for copays, coinsurance and deductibles, and high health care users may experience significant outlays not covered by insurance. If enrolled three or more years, 55% were satisfied.

Out of Pocket Cost 94

Out of Pocket Cost Health Savings Account Deductions Deductible 94

The Workcomp Writer

MARCH 20, 2023

In both decisions, the majority indicated that such reimbursement requirement was unencumbered by language in Section 2102 of the MMA stating that nothing in the MMA should be construed to require an insurer or a health plan to provide coverage for medical marijuana. Sheets received medical treatment that included two back surgeries.

Medical 52

Medical Out of Pocket Cost Workers’ Compensation Employment 52

InterWest Insurance Services

FEBRUARY 20, 2024

As health insurance costs have risen, more employers have started offering their employees this option as the upfront premiums are often lower than with other plans. HSAs are tax-advantaged accounts that allow enrollees to save up to pay qualified medical expenses.

Deductions 84

Deductions Deductible Out of Pocket Cost Health Savings Account 84

InterWest Insurance Services

JUNE 27, 2024

The IRS has issued a new bulletin, reminding Americans that funds in tax-advantaged medical savings accounts cannot be used to pay for general health and wellness expenses. The essence of what is reimbursable comes down to whether it’s a qualified medical expense.

Out of Pocket Cost 80

Out of Pocket Cost Flexible Spending Account Food Health Savings Account 80

InterWest Insurance Services

AUGUST 29, 2024

If your staff are using their plans less frequently than their peers at other companies, it could point to issues, such as the plan being too costly, either via the employees’ share of premiums or out-of-pocket costs. By digging deeper into claims, you can see where your workers are mostly going for health care services.

Out of Pocket Cost 92

Out of Pocket Cost Health Insurance Insurance Utilities 92

InterWest Insurance Services

MAY 2, 2024

The primary care dentist acts as a “gatekeeper” to more advanced services, and ensures that any referrals to more advanced or specialized levels of care are legitimately medically necessary. However, there still may be a network, and your out-of-pocket costs may be lower if you see dentists from within these networks.

Insurance 62

Insurance Out of Pocket Cost Deductions Deductible 62

InterWest Insurance Services

MARCH 22, 2022

The Department of Health and Human Services has issued some new “frequently asked questions” for its Affordable Care Act pages, and new guidelines that require health plans to expand what they are required to cover with no cost-sharing.

Out of Pocket Cost 85

Out of Pocket Cost Insurance Medical Consulting 85

Best Money Moves

OCTOBER 22, 2024

Furthermore, 51% of employees would need to dip into their savings or checking accounts for unexpected medical bills. Younger generations are particularly vulnerable, with 72% unable to afford $1,000 in out-of-pocket healthcare costs.

Out of Pocket Cost 59

Out of Pocket Cost Healthcare Health Savings Account Medical 59

InterWest Insurance Services

JANUARY 18, 2024

As health insurance costs have risen, more employers have started offering their employees this option as the upfront premiums are often lower than with other plans. HSAs are tax-advantaged accounts that allow enrollees to save up to pay qualified medical expenses.

Out of Pocket Cost 57

Out of Pocket Cost Deductions Deductible Voluntary Benefits 57

Best Money Moves

NOVEMBER 4, 2020

The ever increasing cost of healthcare combined with uncertainty about coverage, deductibles and copays keep some employees from getting the medical care they need. More than 40 percent of employees have deferred medical care because of financial concerns, according to research by Willis Tower Watson.

Healthcare 111

Healthcare Out of Pocket Cost Voluntary Benefits Management 111

Best Money Moves

OCTOBER 22, 2024

Furthermore, 51% of employees would need to dip into their savings or checking accounts for unexpected medical bills. Younger generations are particularly vulnerable, with 72% unable to afford $1,000 in out-of-pocket healthcare costs.

Out of Pocket Cost 52

Out of Pocket Cost Healthcare Health Savings Account Medical 52

Griffin Benefits

JULY 30, 2021

While these higher deductibles are offset by cheaper monthly medical premiums and often by employer contributions to Health Savings Accounts (HSA), HDHP plans are nevertheless structured in such a way as to promote heightened "healthcare consumerism.". In a future post, we'll offer tips on how to save money on common medical procedures.

Medical 52

Medical Pharmaceutical Deductions Deductible 52

InterWest Insurance Services

JANUARY 27, 2023

Recent studies have highlighted an alarming trend in American health care: More and more people are struggling with medical bills and many are delaying care due to high costs. The most recent poll by Gallup found that 38% of those surveyed said they or a family member had delayed care in 2022 due to high costs.

Out of Pocket Cost 79

Out of Pocket Cost 401(k) Deductions Deductible 79

Higginbotham

FEBRUARY 21, 2023

Cost Sharing in Insurance Although insurance companies take responsibility for many of the costs that arise, policyholders are also responsible for some out-of-pocket costs on top of the premium. This is called cost sharing, and it’s common in many types of insurance. What about the out-of-pocket maximum?

Health Insurance 52

Health Insurance Out of Pocket Cost Insurance Deductions 52

PeopleKeep

DECEMBER 29, 2021

While it sounds confusing, having dual insurance like this is perfectly legal—you just need to make sure you’re coordinating your two benefits correctly to make sure your medical expenses are being covered compliantly. Whether or not you’ll have any out-of-pocket costs.

Health Insurance 91

Health Insurance Insurance Out of Pocket Cost Medical 91

WEX Inc.

APRIL 25, 2024

Similar to other health plans, once you meet the deductible, insurance begins to cover a portion of medical expenses. The remaining portion, known as coinsurance, becomes your responsibility until you reach your out-of-pocket maximum. An HDHP provides coverage for a wide range of medical expenses.

Health Savings Account 52

Health Savings Account Deductible Deductions Out of Pocket Cost 52

InterWest Insurance Services

JUNE 2, 2023

For the most part, people use their funds in FSAs and HSAs to reimburse themselves for out-of-pocket costs like copays, health insurance deductibles and the cost of prescription medications. Vitamins and supplements Sleep deprivation treatment and medication Breast pumps Birth control devices (condoms, pills, etc.)

Out of Pocket Cost 93

Out of Pocket Cost Health Savings Account Medical Health Insurance 93

The Workcomp Writer

OCTOBER 20, 2022

In an unpublished opinion, the Court of Appeals of New Mexico affirmed a decision by a state workers’ compensation judge that denied an injured worker’s request for full reimbursement of out-of-pocket costs for medical cannabis used in connection with his injury [ Barrozo v. Albertson’s, Inc. LEXIS 372 (Oct. 11, 2022)].

Out of Pocket Cost 72

Out of Pocket Cost Workers’ Compensation Medical Insurance 72

InterWest Insurance Services

MAY 26, 2023

While drugmakers have been assailed for years for increasing their prices and driving the cost of medications higher and higher, there is another player in the health care space that is receiving increased scrutiny: pharmacy benefit managers. Those rebates can be significant.

Out of Pocket Cost 91

Out of Pocket Cost Manufacturing Insurance Medical 91

InterWest Insurance Services

AUGUST 10, 2022

The reason: According to research from Johns Hopkins University, poorly managed chronic medical conditions cost employers an estimated $198 billion every year. These costs show up in several ways: Direct usage of medical services such as preventable ER visits and hospitalization. Cost of temporary workers.

Deductions 86

Deductions Deductible Family and Medical Leave Act Health Savings Account 86

Employer Connection

APRIL 9, 2024

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. Remind covered employees to shop online for healthcare using Healthcare Bluebook TM.

Healthcare 40

Healthcare Out of Pocket Cost Life Insurance Medical 40

Benefit Resource Inc.

APRIL 20, 2023

Consider Any Upcoming Medical Expenses Once you’ve reviewed your expenses from last year, think about any upcoming medical expenses you might have. This could include things like dental visits, eye exams, and even over-the-counter medications.

Out of Pocket Cost 83

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

InterWest Insurance Services

AUGUST 1, 2023

Going out of network is discouraged with high out-of-pocket costs. Preferred provider organizations – PPOs contract with hospital and provider networks to help control costs. While they will cover services outside of the network, the cost is higher than going in-network.

Family and Medical Leave Act 92

Family and Medical Leave Act Out of Pocket Cost Deductions Deductible 92

InterWest Insurance Services

AUGUST 10, 2023

While drugmakers have been assailed for years for increasing their prices and driving the cost of medications higher and higher, there is another player in the health care space that is receiving increased scrutiny: pharmacy benefit managers. Those rebates can be significant.

Out of Pocket Cost 80

Out of Pocket Cost Manufacturing Insurance Medical 80

InterWest Insurance Services

AUGUST 22, 2023

Going out of network is discouraged with high out-of-pocket costs. Preferred provider organizations – PPOs contract with hospital and provider networks to help control costs. While they will cover services outside of the network, the cost is higher than going in-network.

Family and Medical Leave Act 86

Family and Medical Leave Act Out of Pocket Cost Deductions Deductible 86

Employer Connection

SEPTEMBER 12, 2023

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. Healthcare Bluebook is included with self-funded major medical plan designs administered by Star Marketing and Administration, Inc.

Healthcare 40

Healthcare Out of Pocket Cost Life Insurance Medical 40

InterWest Insurance Services

DECEMBER 29, 2023

On top of higher premium layouts, workers in small firms may also pay higher deductibles and have higher out-of-pocket medical costs: About 59% of employees in small firms have a family-plan deductible of at least $3,000 before the plan will start covering most services.

Deductions 79

Deductions Deductible Out of Pocket Cost Health Savings Account 79

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.

Hospitality 93

Hospitality Out of Pocket Cost Insurance Medical 93

InterWest Insurance Services

APRIL 18, 2024

Studies show that one in four adults skips needed care or medications due to cost. Consider adding a direct primary care benefit, which allows workers and covered family members unlimited appointments with their primary care physician with no out-of-pocket costs. Offer mental health or sick day leave.

Out of Pocket Cost 72

Out of Pocket Cost Parental Leave Work From Home Insurance 72

InterWest Insurance Services

DECEMBER 28, 2021

Most employers offer major medical coverage to their full-time employees. But that still leaves workers and their families with significant exposure to financial hardship in the event of a serious medical emergency. Medical equipment, such as wheelchairs or walkers. But your employee now has some significant medical bills.

Voluntary Benefits 86

Voluntary Benefits Hospitality Insurance Out of Pocket Cost 86

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.

Out of Pocket Cost 98

Out of Pocket Cost Insurance Carriers Management Finance 98

Employer Connection

JUNE 15, 2023

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. Healthcare Bluebook is included with self-funded major medical plan designs administered by Star Marketing and Administration, Inc.

Healthcare 40

Healthcare Out of Pocket Cost Life Insurance Medical 40

Benefit Resource Inc.

JANUARY 4, 2023

In addition, the bill also expands coverage options for virtual visits, allowing for a wider range of medical needs to be addressed remotely. 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.

Deductions 40

Deductions Deductible Out of Pocket Cost Healthcare 40

InterWest Insurance Services

JULY 13, 2023

this year and at a faster clip in 2024 as inflation hits medical costs. 39% offer a medical plan with no or a low deductible or cost-sharing (e.g., Programs also include pain management, which can reduce medical costs and improve patient outcomes. copay plan).

Employment 84

Employment Out of Pocket Cost Health Insurance Health Savings Account 84

Higginbotham

SEPTEMBER 16, 2024

Employees must pay the deductible out of pocket before the plan contributes to covered care costs. However, depending on the specific plan, preventive care may be covered before the deductible is met with no out-of-pocket costs. By opting for a higher deductible, employees can secure lower monthly premiums.

Deductions 52

Deductions Deductible Health Savings Account Health Insurance 52

InterWest Insurance Services

JUNE 16, 2022

An insurer that offers the narrow network plan will contract with a local, community-based medical provider, large enough to ensure they have all the specialties needed for the insurance plan. There is no limit if your employee goes out of network. Many people think the plans are restrictive, but that’s not the case.

Employment 93

Employment Out of Pocket Cost Health Insurance Insurance 93