In today’s marketplace, many people get their health insurance coverage from a spouse’s benefits plan; however, a growing number of married couples maintain separate individual health insurance coverage.
According to a recent report by Glassdoor, employees and would-be employees have an edge in today’s job market, with 90 percent of recruiters surveyed saying it’s a candidate-driven market. The report also reveals important points for businesses looking to hire and keep the most qualified workers. In today’s candidate-driven environment, companies need to prioritize employee retention. Employee benefits and employee engagement is a big part of that.
Health savings accounts (HSAs) have been around since 2003; however, many people remain unfamiliar with them. Similar to a personal savings account, an HSA allows an individual to use untaxed savings to pay their own individual health insurance costs—and to receive employer contributions up to a certain amount.
Recent health-care reform initiatives, including the passage of the 21st Century Cures Act in December 2016, have ushered in significant changes that will affect the health insurance industry through 2017 and beyond. One of the new changes includes updates to Health Reimbursement Arrangements (HRAs), one of the best ways for small businesses to offer health benefits to their employees. Here are four things to know about HRAs and changes in health law for 2017.
Many people assume that individual health insurance, which is insurance you purchase on your own, is more expensive than group health insurance, which is a policy an employee gets through their company. So how much does individual health insurance cost? How does it stack up against company-based group health insurance? Data shows that individual health insurance is, on average, more affordable than group coverage. Furthermore, the passage of a new federal law in 2016 created a third health insurance option for small businesses to offer their employees that can help businesses fix their health benefit costs.
Health savings accounts (HSAs) have become a popular option for people who wish to have comprehensive individual health insurance while building up tax-free savings they can roll over from year to year. According to research firm Devenir, more than 16 million people had an HSA in 2015.
IRS Publication 502, Medical and Dental Expenses, defines medical care for the purpose of deducting medical expenses and reimbursing medical expenses through programs such as HSAs and HRAs. Health Reimbursement Arrangements, or HRAs, are defined contribution plans through which employers can reimburse their employees for eligible medical expenses.
An analysis of individual and family health insurance policies available in 2017 reveals that costs have increased across the board from 2016. eHealth, the nation’s largest private online health insurance exchange, released its latest Health Insurance Price Index report on January 13. It looked at the average health insurance premium cost for individual and family policies during the first two months of this year's open enrollment period.
You probably already know that the cost of living varies greatly from region to region. Where you live dictates how much you pay for just about everything, from housing to the cost of dinner at your favorite restaurant. But did you know that your zip code also plays a role in the cost of group health insurance? According to a recent survey conducted by United Benefit Advisors (UBA), geography was one of several factors that affect the cost of health insurance.
The U.S. Department of Health and Human Services (HHS) has released the federal poverty level (FPL) guidelines for 2017. Individuals whose household income falls between 100 and 400 percent of the FPL may be eligible for a premium tax subsidy that can lower their health insurance cost. What Is the Federal Poverty Level? Also known as “poverty guidelines,” the FPL is used to measure a household’s poverty status. Adjusted each year for inflation, the FPL can help determine if a family qualifies for certain government benefits, such as Medicaid, food stamps, or funds for education.
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.