Deciding to offer or enroll in health insurance is a crucial decision for employers, individuals, and families. It can be overwhelming to know where to start, especially if you’re a small business without an HR team or a benefits specialist. However, putting in the time and effort to set up a formal health benefits plan is … Read more
The health insurance industry increased its direct written premiums by $92 billion in 20251. If your health plan premiums have gone up since your last policy period, you’re not alone. Every year, individuals, families, and employers across the U.S. experience premium rate hikes. But many often don’t know why. If you’re shopping for a new health plan … Read more
Whether you’re an employer shopping for a group plan for your staff or an individual seeking insurance for you and your family, you’ve likely wondered about the difference between a high deductible health plan (HDHP) and a low deductible health plan (LDHP). If affordability is a concern, it’s important to choose coverage that fits your budget while offering you … Read more
Employers and HR managers often strive to offer their employees the best possible healthcare benefits. But with rising healthcare costs nationwide, it’s vital to ensure that the benefits you offer are also affordable. Two popular benefits that have gained traction over the years are account-based health plans (ABHPs) and health reimbursement plans. While these two benefits have … Read more
If you have a health plan, whether through your employer or the individual market, it’s essential to know common health insurance terminology. While some key terms may be confusing initially, learning them will help you understand which medical services your plan will pay for versus what you’ll pay out-of-pocket. One common term is coinsurance. Knowing the … Read more
If you employ a small workforce, you know how crucial it is to offer an attractive health benefit to retain your staff. However, most traditional options are better suited for larger organizations with more resources. In many cases, small employers lack the time to work with insurers, complete complex paperwork, or navigate the annual renewal process. Luckily, … Read more
Health insurance protects you financially when you need routine care or experience a medical emergency. But while health insurance covers many services and items, you’ll still have to pay for some expenses out-of-pocket, regardless of your insurer or plan type. Knowing which out-of-pocket medical expenses you may encounter can help you choose the right healthcare coverage … Read more
More employers nationwide are turning to the individual coverage health reimbursement arrangement (ICHRA) as an affordable and flexible way to offer health coverage. It allows employers to reimburse employees tax-free for individual health insurance premiums and qualified medical expenses. The federal government recognized the advantages of a stand-alone HRA for employers of all sizes by finalizing its rules … Read more
Group health insurance has been the traditional coverage option for employers seeking to offer health benefits. But today, employers are searching for ways to better manage their costs and support their teams through more personalized health benefits. This is why an increasing number of employers are turning to the individual coverage health reimbursement arrangement (ICHRA). This health benefit is … Read more
For many employers, health insurance isn’t a typical employee benefit. It’s the most important and most expensive benefit you can offer. Driven by rising hospital costs, increasingly chronic health conditions, and growing demand for specialty medications, employer healthcare costs have been steadily increasing over the past decade. As a result, business owners are asking an important question: … Read more