A common question we receive from small employers is, “Can we still use a Health Reimbursement Arrangement (HRA) to reimburse employees for their health insurance? The answer is, it depends. This article covers when an HRA may be used for individual health insurance reimbursement. We’ll also cover HRA alternatives to help with employees’ health insurance costs.
With the 2016 Obamacare open enrollment period right around the corner, all eyes are on which plans will be offered in the Health Insurance Marketplaces, and whether costs are going up or down. So far, 11 states have announced their 2016 proposed rates and the premium increases are surprisingly modest.
Small and medium-sized nonprofits face unique challenges with hiring and retaining employees. With limited resources, leadership teams must be strategic about how to allocate compensation and benefit dollars. To gain control over the organization’s health benefits budget, and to show appreciation to loyal, hardworking employees, many nonprofits are switching from group health insurance to individual health insurance reimbursement. What? Why? How?
There are several medical reimbursement plans available to employers - HRPs, HRAs, HSAs, FSAs, and POPs. The acronyms can be confusing, and so can the new health care reforms. So, which reimbursement plans can be used for health insurance premiums?
When it comes to health benefits, controlling costs has become a major challenge for small nonprofit organizations. Each year, leadership teams are faced with tough fiscal decisions at health insurance renewal time: increase the budget again, reduce coverage, change health benefits, or cancel benefits. These are challenging conversations to have. Nonprofits need quality health benefits to attract and retain employees, but with affordable and controllable costs.
Reimbursement of healthcare expenses is a common strategy among employers of all sizes because it allows employers to control healthcare costs and provides employees more choice in how they spend their healthcare dollars. For small businesses, healthcare reimbursement is an emerging alternative to offering traditional health insurance coverage.
Employees are requesting help with the cost of their health insurance, and your small business would like to contribute. What can you do? It’s pretty simple. Help them with the cost. How? There are tax-free and taxable options available. Here are five quick resources to point you in the right direction.
Employee health benefits are expensive, and for many small businesses, purchasing health insurance is out of reach. But here’s a different way to think about health benefits; offering health benefits can help your small business save money overall. And, there are new "name your price" models that make health benefits attainable.
Today, it is common for small employers to help employees with their personal health insurance - instead of contributing to a group health insurance policy. In fact, only 54% of small and midsized employers (with fewer than 200 employees) offer traditional health insurance coverage. As employers increasingly adopt ways to help employees with health insurance, one approach is to give employees cash for health insurance. Can you do this? Yes. Are there rules to follow? Absolutely. This article outlines four simple rules to consider when giving employees cash for health insurance (or reimbursing employees for health insurance). Follow these rules to avoid hefty penalties and fees.
Disclaimer: The information provided on this website is general in nature and does not apply to any specific U.S. state except where noted. Health insurance regulations differ in each state. See a licensed agent for detailed information on your state. Zane Benefits, Inc. does not sell health insurance.