Navigating health insurance can feel like planning a vacation. You wouldn’t pack for a beach trip if you’re headed to the mountains, right? Similarly, choosing a health plan requires careful consideration. Open enrollment is your chance to design a plan tailored to you; it is your yearly opportunity to review and adjust your employee benefits … Continued
Early Preparation Is Crucial for 2025 Open Enrollment With the 2025 open enrollment season around the corner, employers have an opportunity to develop attractive benefits offerings and proactively communicate with employees to win them over. Early preparation can help show employees they are valued, convince top performers seeking job changes to stay in their current … Continued
Today’s workforce is a mix of generations, but you can’t afford to overlook Millennials, the largest generation in the workforce. Known for their flexibility and problem-solving skills, Millennials bring a powerful combination of experience and value to any company. Millennials, also known as Generation Y, are a driving force in today’s job market. This generation … Continued
What Employers Should Know About Precision Medicine Precision medicine, also known as personalized medicine, aims to customize medical care by considering the unique characteristics of each patient. The approach focuses on getting the right treatment to the patient at the right time and for the right price. At its core, precision medicine recognizes that individuals … Continued
5th Circuit Requires Health Plans to Continue Providing Free Preventive Care The 5th U.S. Circuit Court of Appeals recently ruled that a key component of the Affordable Care Act’s (ACA) preventive care mandate is unconstitutional. However, in a decision it referred to as a “mixed bag,” the 5th Circuit limited its ruling to the plaintiffs … Continued
Medical expense accounts can help you save on all kinds of healthcare costs. Here are some you may not know about yet. HSA, FSA, and HRA can typically be used for: Medical expenses: Doctor visits, surgeries, prescriptions, dental and vision care, and mental health services. Over-the-counter (OTC) medications: Many OTC medications, including pain relievers, allergy … Continued
Managing healthcare costs can feel like deciphering a complex code. Three acronyms frequently pop up: HSAs, HRAs, and FSAs. But what exactly do they mean, and which one is right for you? Let’s break down these accounts and explore how they can help you save on qualified medical expenses. Understanding the Accounts: Health Savings Accounts … Continued
Today’s workforce is a mix of generations, and Gen X is a group you can’t afford to overlook. Known for their flexibility and problem-solving skills, Gen X employees bring a powerful combination of experience and value to any company. Gen X, those born between 1965 and 1980, makes up a significant chunk (27%) of today’s … Continued
Report: Health Care Costs Are 254% Higher for Privately Insured Patients Than Those With Medicare A new RAND report revealed that in 2022, private insurers paid hospitals an average of 254% more than what Medicare would have paid for the same services, a jump from 224% in 2020. The study found that 2022 prices for … Continued
Health savings accounts (HSAs) have become a vital part of many employers’ benefits packages, offering employees a powerful tool to manage healthcare expenses while benefiting from tax advantages. However, managing HSAs goes beyond just facilitating contributions. It also involves understanding and addressing mistakes with distributions that employees might encounter. This article delves into the basics … Continued