Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA) are two ways employers can help employees better manage the cost of healthcare. They’re an employee benefit separate from medical insurance, and you cannot enroll in both types. These accounts are designed to pay for a lengthy list of “qualified medical expenses” to alleviate or prevent Read more…
Category: Benefits Strategy
;Best practices and insights about how to design and run your company’s wellness benefits program.
Benefits Strategy
Is a Health Insurance Broker Right For My Company?
Health insurance brokers are like real estate agents. Just as a real estate agent can help you find the perfect property, an insurance broker can set you up with the perfect benefits plan for your company. Health insurance brokers are a bit different, though. Your broker is a licensed industry expert who will do the Read more…
Benefits Strategy
Survey Says: To Stay Competitive, Offer a Wellness Reward
If you want to compete with other companies’ corporate wellness programs, you’re going to have to pay. A recent study found that nearly nine out of ten employers—86 percent, up from 74 percent in 2017—now offer financial rewards as part of a corporate health and wellness platform. These rewards often take the form of HSA Read more…
Benefits Strategy
Health Savings Accounts and Your Wellness Program
Health Savings Accounts are tax free savings accounts for healthcare related expenses. These accounts allow employees to put tax free income into a bank account specifically reserved for healthcare spending. Health Savings Accounts allow employees to save money, have better control of their health related finances, and they’re budget friendly for all employers. Better yet, Read more…
Benefits Strategy
Four Reasons Why Your Health Insurance’s Wellness Features Just Aren’t Enough
Health insurance carriers typically offer wellness features bundled with their health plans. Many offer discounts and reimbursements for weight loss programs, free health tips, and even help you see report cards of your health over time. Many employers are tempted to just use their carrier-provided tools as their main employee benefits wellness program. Unfortunately, the Read more…