Category: Group Insurance

If you are thinking of offering group insurance or a HRA to your employees, or if you are already offering them one or both, you might be wondering how to withhold employee insurance premiums and your contributions from their paycheck. Do the deductions come out of their paycheck pre-tax or after-tax? In some cases, you…

Offering employees health benefits is important for businesses in all fields to do, but nonprofit organizations often struggle to provide healthcare. Research conducted in 2019 found that only 18% of nonprofit organizations offer group health insurance. Over 80% of these organizations said that they couldn’t afford group health insurance, while others said that they have…

Employee Assistance Programs (EAPs) have been around for longer than you might think, and have an interesting origin. They began in the 1940s as programs to help combat employee alcoholism, and from there the Employee Assistance Program evolved to help employees manage daily challenges in work and life. Maintaining a healthy work life balance can…

When you decide to offer group health insurance to your employees, you will need to fill out multiple forms, and provide others to your employees. This can be a tedious process, but if you have an HR department, then they will most likely deal with most of the forms and paperwork. But that does not…

Being a business owner has its perks, but it also comes with a lot of responsibilities. One of these responsibilities is keeping your employees happy and healthy by offering them some kind of health benefits. Group health insurance can be quite costly, but there are other alternatives you can offer that will help your employees…

One of the best ways to attract and retain the best employees is to offer competitive benefits. These benefits can come in many forms and are an important part of any employee's compensation package. One of the most important benefits to most employees is health insurance; in fact, 56% of employees would prefer a healthcare…

Despite the fact that health insurance is an important and very popular employee benefit, many small business owners have been canceling their group insurance policies. For some business owners, even the tax credits that are meant to help provide coverage to employees do not offset the price of group insurance enough. For other business owners,…

Health Reimbursement Arrangements (HRAs) and Health Savings Accounts (HSAs) are both great options for  employees and employers who want to save money on group health insurance costs. Many employers and employees wonder if they can have both at the same time, and the answer is: yes! If you are willing to offer your employees both,…

Each year, the IRS sets contribution limits for Health Savings Accounts (HSAs). This year, HSA contribution limits are up by about 1.5% from 2020’s amount. New contribution limits for 2021 are going up $50 for individuals and $100 for families. Limits are set based on a calendar year. and the allowable contribution is prorated by…

The Employee Retirement Income Security Act of 1974, also known as ERISA, was designed to define the rules and standards for retirement and healthcare benefits. It was created to protect the assets of those who are retiring and to set out rules for how employers manage their healthcare plans. If you are an employer who…

Employers who have trouble providing their employees with a traditional group health insurance plan sometimes turn to health reimbursement arrangements (HRAs) to help. HRAs are not health insurance, they are employer-funded accounts approved by the IRS that help employees pay for qualified out-of-pocket medical expenses. They can also help pay for their individual health insurance…

One of the best ways to attract better employees is by offering group health insurance. Unfortunately, providing high quality health insurance usually means that your business is going to pay a lot for premiums. With premium prices soaring, many small businesses are struggling to continue offering group health insurance to their employees. In fact, according…

Being a small business owner means being on a tight budget, so fitting in a group health insurance plan for your employees can seem a bit overwhelming. Offering group health insurance, though, is not something that you should overlook. If you do not offer a healthcare plan, you might find that it is more difficult…

As a small business owner, you want to provide the best for your employees. That includes offering group health insurance that will not break the bank. When researching group health plans for your employees, you've probably come across the terms “group health” and “blanket health”. Both are different in what type of coverage they provide…

If you own a business that employs fewer than 50 people, then you are not required to offer your workforce group health insurance - but that doesn’t mean that you can’t, or that you shouldn’t. Many small business owners find that having healthier and happier employees is worth the cost and the administrative headaches of…

If there’s one thing that we can all agree on, it’s that 2020 has been an unusual year, especially when it comes to healthcare. We’ve seen a once-in-a-lifetime pandemic, and we still don’t know what all the effects of it will be. Take, for example, costs for employer-based healthcare. If you’re an employer, you’re right…

It’s that time of year again! For many employers who offer healthcare benefits, the fall means open enrollment for your employees. It’s time to start thinking about how you’re going to present your group health insurance plan to your employees, and how you can help them to understand what is being offered to them. But…

As an employer, you are entrusted with a lot of personal information about your employees. This is especially true when it comes to their healthcare. You provide their health insurance plan, and you are the one who will need to obtain health information in case of a work-related injury, or if your employee requests medical…