Vision Coverage Can Reduce Overall Health Care Costs
Research has found that employers who offered their workers stand-alone vision benefits experienced $5.8 billion in cost savings in the aggregate over four years due to reduced health care costs, avoided productivity losses, and lower turnover rates. That’s because individuals who
Health Plans Dropping Out-of-Pocket Cost Waivers for COVID-19 Treatment
As the light at the end of the pandemic tunnel gets brighter, more health insurers are ceasing to offer cost-sharing waivers for COVID-19 treatment. After legislation was enacted in 2020 that required health insurance companies to cover COVID-19 tests and vaccines,
Put Money into an HSA instead of a 401(k) After Employer Matching: Report
One of the main recommendations for employees with 401(k) plans is that they should contribute at least enough to their plan every paycheck to ensure they receive the maximum they can in their employer's matching contributions. But a new study by
Addressing Pandemic Fatigue Among Your Staff
As the country and our businesses continue trudging along and hope that vaccines will pave the way out of the COVID-19 crisis, employers are increasingly seeing the effects of pandemic fatigue among their workers. The same issues people are grappling with
HDHPs Do Not Slow Down Health Care Spending: Study
A new study has found that high-deductible health plans have only a limited effect on the growth of health care spending for people who sign on for these plans. The National Bureau of Economic Research researched HDHPs over a period of
100% COBRA Subsidy in Effect Through Sept. 30
The recently enacted American Rescue Plan Act of 2021 includes a 100% COBRA subsidy for up to six months for employees laid off during the COVID-19 pandemic. The subsidy is in effect through September 30. Due to the short ramping up
Group Health Plans Must Cover COVID-19 Testing for Asymptomatic People
The Centers for Medicare and Medicaid Services announced in late February that private group health plans cannot deny coverage or impose cost-sharing for COVID-19 diagnostic testing, regardless of whether or not the patient is experiencing symptoms or has been exposed
HHS Proposes Higher Cost-Sharing Limits for 2022
The Department of Health and Human Services has proposed cost-sharing limits that would apply to all Affordable Care Act-compliant health insurance policies for the 2022 policy year. The ACA imposes annual out-of-pocket maximums on the amount that an enrollee in a
IRS Lets Employers Give Workers a Break on FSA Contributions, Health Plan Rules
New guidance from the Internal Revenue Service allows employers to temporarily give their employees extra benefits leeway in making changes to their flexible spending accounts (FSAs) and health savings accounts (HSAs). The guidance, in response to the COVID-19 pandemic, also allows
The Top Five Health Conditions Driving Insurance Costs
A new study has identified the top five health conditions that are driving the overall cost of group health plan outlays, and without which spending would actually be falling. The report is enlightening, and employers can use the findings to offer