And why consumers benefit Steadily rising costs have everyone looking for smart ways to save money, particularly on health insurance. A great way to push back at inflation is to offer a Health Savings Account (HSA) to your employees. These savings accounts are a simple, effective and affordable way to find tax savings that benefits everyone: individuals, small businesses and large employers. An HSA is … Continue reading Why employers should offer an HSA
In the search for savings, beware of the risks Specialty carve-outs expose employers to ethical and compliance issues, and more On the surface, it sounds like a good idea. “Carve out” the most costly part of your prescription drug coverage, specialty drugs, by working with a third-party vendor that can focus on savings. But it’s important to understand what is happening behind the scenes and … Continue reading Considering a specialty carve-out?
Insuring your employees may be more affordable than you realize As a small business owner, you want to attract and retain good talent to help your business grow. You’re also juggling rising costs, a tight labor market, and the impact of a global pandemic. So, while you want to reward your employees for their hard work, you also want to make sure you are making … Continue reading Health insurance vs. a pay raise: What’s the better choice?
Level-funded plans offer an alternative approach for small employers Level-funded plans are gaining traction among businesses with 3 to 100 employees, and for good reason. If your business has generally healthy employees, these types of plans can lower premiums and provide a surplus refund when claims are lower than expected. BlueEdge level-funded plans offer flexibility and predictability, and can be viewed as a midway approach … Continue reading Considering a level-funded plan? Here are five strategies to consider
You don’t have to settle for a patchwork of benefits Prescription drug coverage is an important part of your employees’ health care. It’s also a major cost concern for you, as an employer. By bundling your employees’ pharmacy and medical benefits, there are major advantages. An integrated approach drives bigger savings for your company and provides better overall care for your employees. Improves health outcomes … Continue reading Get the complete picture: Bundle your medical and pharmacy benefits for better care, more savings
Sometimes, small group health insurance can be more affordable than individual plans that offer the same benefits and coverage. Generally, the Affordable Care Act (ACA) considers businesses with 1 to 50 employees eligible for small group health coverage. However, if you are a sole proprietor, you will need to buy coverage as an individual. To be eligible for small group coverage, your small business or … Continue reading How many employees do I need to qualify for small group health insurance?
While you are not required to offer health insurance to all your employees and their dependents, it’s highly recommended you do so. Offering a comprehensive benefits package goes far to keep your employees healthy and happy, while providing you with tax advantages. Groups with fewer than 50 full-time employees are exempt from the ACA employer mandate. This mandate requires groups of 50 or more full-time … Continue reading Am I required to offer health insurance to all my employees?
As a small business owner, you always have to strike a balance. While you know that a competitive benefit package is important to attract and retain talent, you also must work within a tight budget, and often, with limited resources. You have valid concerns about the expense and the long-term sustainability of providing your employees with health insurance. What should you do when health insurance … Continue reading How much must an employer contribute to the premium?
