As your agency, we will assist you in every step of your open enrollment process, whether you are the employer or employee. We will walk you through the plan options, explain out of pocket exposure, and break down your monthly portions for you and your family members before you enroll, ensuring that you are on the best plan for your needs. Our enrollment meetings are not only a great way to get to get to know us, it also guarantees your complete understanding of your company’s benefits.
Posts Tagged ‘health savings accounts’
Help Prevent Mistakes During Your Open Enrollment
Thursday, November 10th, 2011High Deductible Health Plans and HSA’s Growing in both Group & Individual Markets
Thursday, January 13th, 2011According to studies done in 2010, High Deductible Health Plans increased significantly in both the group and individual markets. Many found that taking on higher out of pocket plans greatly reduced their premiums, while not affecting first dollar benefits, such as preventive care or doctor office visits. It was shown that individual enrollment in HDHP’s increased from 39% in 2007 to 51% in 2010. Numbers were similar when reviewing group enrollment in HDHP’s. It is believed that as more information is provided to potential enrollees of HDHP’s regarding the benefits of adding on a health savings account, more people wanted to take advantage of the tax benefits as well. Overall, many feel that these plans gave them more control over their health care needs and costs as a whole.
Health Savings Account Contributions for 2010
Monday, October 5th, 2009
If you have more than one HSA account, these limits are going to be applicable for all the accounts together.
What Qualifies as a Tax-Deductible Medical Expense?
Friday, May 15th, 2009When it comes to Health Savings Account health plans, one of most common questions we hear is what is a qualified medical expense? As you know, you can use your savings account to cover expenses that are not covered by your health plan, though there are limitations as to what does and does not fall under the definition of eligible medical expense. According to the IRS Publication 502, Medical and Dental Expenses, the general purpose of the health savings account is to cover “Medical expenses are the costs of diagnosis, cure, mitigation, treatment, or prevention of disease, and the costs for treatments affecting any part or function of the body.” Such items that would fall under this category include:
Rate Increases and Your Options
Monday, May 4th, 2009Please note that while not everyone will be affected by annual rate increases, many of you will find that your rates are being adjusted by the insurance carriers. This is due to rising costs of health care, hospitalizations, and prescription drug costs. However, though your rates may be rising, this does not mean you are without options.
Sometimes the simplest answer is to raise your deductible. This means you may be taking on higher cost-sharing, but usually the premiums are reduced enough to make a huge difference.
Keeping Employees Aware of Benefit Packages
Monday, April 27th, 2009One of the most important things you need to do as an Employer offering health insurance is to make sure that your employees understand their benefit packages.
Here are some frequently asked questions that employees may have about their group health insurance plan:
How much do they have to pay?
As the employer in a group health insurance policy, it is your responsibility to provide at least some payment for monthly premiums for the policy.
It is important that your employees know exactly how much you will provide and what they will have to pay on the policy. Ideally, this should be answered before an employee signs up for your group health plan to avoid any confusion.



