Category: Benefits

12.14 Cost Sharing With Your Employees in Benefits

Most times when we walk into a prospect meeting , one question we always ask is, How do you share in the premium costs with your employee?” Often the answer is a percentage or a defined contribution. We ask them how this was developed, and the answer is shocking, We have always done it this […]

12.8 We Have Choice of Plans. Is This a Good Strategy or a Bad One?

For years employers have been giving employees a menu if options to choose from while selecting benefit options. The theory was centered around giving the employee more control in their healthcare options. Much like the 401k the thought was to let the employee decide what investment choices were best for themselves. Why should healthcare be […]

12.8 Rating Structure

Insurance companies set rates based on assessing risk as we all know. Conversely, the insurance companies set rates for the higher out of pocket cost plans lower than they need to be. Why? They figure employees who select these options are generally healthier and do not use the plan. This creates a large spread in […]

11.30 Flexible Spending Account

Why should I choose a Flexible Spending Account (FSA)? A flexible spending account lets you save money by setting aside pre-tax dollars for eligible medical, dental, vision, and dependent care expenses incurred by you, your spouse or your eligible dependents. Take home more money Putting money into an FSA decreases your taxable income, which means […]

11.29 Save with your HSA or FSA on back-to-school expenses

Are you preparing to send your kids back to school soon? You might be surprised to learn that your health savings account (HSA) and medical flexible spending account (FSA) can help you save on purchases of a variety of back-to-school, expenses, including: Thermometers. Thermometers. You can use your HSA or FSA to purchase a thermometer, which […]

11.15 What is a dependent care FSA?

A dependent care flexible spending account lets participants set aside pre-tax dollars to help pay for dependent care. Contributing to this benefit reduces taxable income and spreads the benefits of pre-tax dollars throughout the year, helping you save 30 percent or more on your dependent care costs. It’s a smart way to save money on expenses […]

8.24 How to Make an HSA Work for You

HSAs are great. They give you a tax-advantaged way to fund your healthcare while allowing you to allocate your reduced premiums in a way that make sense for your family. There are a lot of benefits, but a common question we get is “How will this change my day-to-day healthcare experience?” The short answer is […]

8.15 FSAs, HSAs and HRAs: How can employers use all three to get better coverage and lower health costs?

Over the last decade or so, there has been a quiet shift in how employers are thinking about their approach to health coverage. Traditionally, you’d find a set of plans and let your employees choose how they would cover their health needs. But there was a problem: all employees were choosing the best plan available […]