Growth in Employee Health Costs Begins to Slow Down
The rise in the costs of employer-based health insurance has slowed dramatically but it appears to largely be the result of a rise in high-deductible health plans, according to a new study by Mercer. Employers are spending an average of $11,920 per employee on health insurance this year. That amounts to a rise of only 2.4 percent over the previous year. The percentage of employees with high-deductible plans rose from 25 percent to 29 percent in 2016.
Is High-Deductible Health Insurance Worth the Risk?
As companies push workers to pay more for their medical care, millions of employees are facing a tough decision, choosing between high premiums and high deductibles. The choice is this: Pay more every month for peace of mind later, or pay less and run the risk of having higher out-of-pocket costs down the line. And increasingly, people are doing the math and deciding that the risk is worth it.
It's Open Enrollment Season. Have You Taken a Good Look at an HSA?
Many HSA owners fail to take maximum advantage of their HSAs. More affluent employees are foregoing valuable tax benefits by not steering their HSA balances toward long-term investments. And even employees who are using a "spend as they go" approach to their HSAs should consider using the accounts to take advantage of the tax breaks. If you've foregone the HDHP/HSA combo in the past, use open-enrollment season for employee benefits to revisit it.
6 Ways to Take Advantage of a Health Savings Account
A health savings account helps pay some current medical bills while earning money for future health needs. The initial investment must reach deductible requirements but, after that, the money grows tax-free. Here are six ways to take advantage of a Health Savings Account.
If you're like most people, there are a few times a year when you sit down to review your expenses. Then you try to figure out where you and your family can save money. One item you should consider is your healthcare costs in 2017. Open enrollment is the perfect time to sign up for a new health benefit plan or make changes to your current plan. Offered as part of those benefits, HSAs and FSAs are two simple ways for people to save money in the New Year.