High deductible health plans (HDHP) are by far the most affordable option for healthcare from a monthly premium standpoint. This makes them really attractive to younger, healthier people who don’t need a lot of care. But if you need a lot of care, an HDHP could end up costing you more than a more inclusive plan.
Whether you have employer-sponsored healthcare or you’re looking to buy healthcare on the individual market, there’s a strategy to getting the biggest bang for your buck. Sometimes that’s going with the cheapest available plan, and sometimes it’s going with the plan that covers all of your needs.
It’s hardly newsworthy that health insurance and health payments are becoming more expensive. This trend impacts employers, who still pay the majority of health care costs in the US, as well as employees whose share of the total costs continues to increase. This cost sharing occurs in a few components, as well as across insurance formats, the most popular choices being PPOs and HDHPs. Here we will discuss a few of the major factors in deciding to select one over the other.
Moving health insurance plans (or providers) is the most important benefits decisions you will make this year. It affects both your health and your wealth.
Health insurance is designed to deliver medical care and access, with set financial parameters. With that in mind, we will review why this goal can become somewhat convoluted and complicated when selecting a health plan.
Few benefits in healthcare are one size fits all. HSAs are no different. Finding an HSA, that works with your existing healthcare benefits (and payroll systems) will save you time and money today. Finding an HSA that scales as your business grows, will ensure you don’t have to waste time next year!
As a small business owner, health plan coverage takes your time and money. Every year. Leaving you exhausted and frustrated with health insurance. Properly evaluating health benefits will help unlock more nuanced value from your health insurance. Coupling health benefits with your health plan will get you past the year-to-year loop of increasing costs and decreasing coverage.
What is more important to a small business owner than keeping costs low and employees happy? Its hard to find both, especially when selecting a health plan. Lower costs, that still offers the benefits employees expect, are why a small business owner should choose an HSA-eligible health plan.
The complexities of the healthcare space aren’t for the faint of heart. New regulations pile on top of existing, as new products are added to the healthcare marketplace. These complexities, also create new healthcare and health savings opportunities.
In fact, combining health savings options in complex formats can save both employers and employees money year over year. Imagine paying less for healthcare and having health funds that can grow over the next 20 years. Where can I sign up?
The value and benefits of an HSA are hard to pass up. Their short-term and long-term savings options create flexibility to enable an HSA strategy that works best for you. In order to take advantage of these opportunities, you need to be eligible. Here are the requirements to determine your HSA-eligibility.
Healthcare debates seem to be eternally ripe in the political and benefits space. Costs are increasingly difficult to balance with coverage. Health insurance plans like HDHPs, PPOs, and HMOs all have clear benefits and limitations. Today we will break down the HDHP and why it’s a good option for employers and employees (no matter their age).
A recent survey found a significant increase in health plan options in 2018 for large employers. Large employers increased offerings of both traditional and high deductible health plans from 9% to 65%.
Open enrollment means options. You are given time to compare, review, and select your healthcare plan based on your expected needs. From there, you can add auxiliary benefits and health savings tools, like the HSA, to better optimize your cost and benefits experience.
There is a lot of healthcare jargon that further complicates and confuses us during the open enrollment period. We will help you remove that confusion so you can better review, compare and select health insurance plans during this open enrollment season.
Effective today, November 1, 2017, healthcare open enrollment for 2018 has arrived! This year, open enrollment for the health insurance marketplace is a bit shorter than in previous years. The good news is, we are here to provide the crucial details you need to get healthcare coverage in 2018.
When Alex & I started Lively, we did everything in our power to keep costs down (and we still are). As a result, when we hired the first two members of our team and put in place health insurance for them, I decided not to enroll in Lively’s health plan because I could get it through my wife’s company. At that time (and in my mind), the decision was simple.
Open enrollment is right around the corner, or for many of us, it has already started. Open enrollment is a perfect time to review your health insurance considerations. Not just because it’s required, but because healthcare costs are a top expense for many US households. Finding the best health insurance plan for yourself or your family could save you money, time and finally grant you peace of mind for all your health expenses.
The challenge of creating a balanced offering for employers in an expensive health benefits landscape leave many of us feeling short on options. However, by coupling health benefits together we can help alleviate the ever growing conflict between costs and benefits.
High deductible health plans aren’t win-win, but they are becoming more common with employers so if you don’t have one yet, it’s likely you will in the near future. They do create opportunities for greater flexibility and increased fiscal health security for the long term. Let us show you how to use high deductible health plans to your advantage. “What is a High Deductible Health Plan (HDHP)?”
At Lively, we live and breathe all things health accounts and HSA related, but you might not and why should you, you have better things to do! We want to help you save time, so let us give you the simple and straight forward details regarding HSAs (health savings accounts).
Time, money and employee productivity – three things that drive your business profitability but are often underperforming. See how HSA benefits can improve all three, and even pay for perks like employee massages.
Employee benefits account for nearly one-third of total employee compensation. That’s a big slice of the pie. So, if you make the decisions for your company’s benefits package, you want to clearly understand your options.
High-Deductible Health Plans (HDHP) can be like the monster under the bed. You need one to qualify for a Health Savings Account (HSA), and the much lower premium is great. However, if you don’t know how to manage your HDHP, it could be very scary.
Remember the days when you only paid $10 or $20 copayments for healthcare? If you don’t, your parents probably do. Employers picked up a big chunk of medical coverage expenses and health insurance plans. Then the bottom fell out.
No doubt about it. Health Savings Accounts (HSAs) are a popular strategy for the cost-saving healthcare consumer.
Here we are in mid-November, having just elected Donald J. Trump as president of the United States.
“Open Enrollment Decisions — A Consumer’s Dilemma (Or Is It?)”