According to the Centers for Disease Control and Prevention, heart disease is the leading cause of death for American women – but despite the launch of numerous awareness initiatives, barely half understand the risks. Let’s look at what heart disease is and what we (especially women) can do about it. Heart Disease Basics “Heart disease” includes a variety of conditions that affect the heart structure and how it functions. Coronary artery disease, the most common, occurs
Third-party administrators enable employers to offer benefits that help them attract and retain their valuable talent. However, employers do not own all benefit funds, nor do employees. These are essential questions when enrolling in benefits and spending down funds. So, let’s discuss who owns benefit accounts and ensure everyone fully understands the benefit account portability. What is portability? Benefits portability refers to the ownership of benefit account funds. If a particular type of benefits account
Employers battle high healthcare costs by finding ways to reduce expenses and by achieving significant returns on the investments they ultimately make. With benefits being such an important factor in employee retention, return on investment is often the most critical. One method of increasing utilization and realizing a greater return on the employer investment in certain types of benefits is to rebrand them. Rebranding Targets Four commonly underutilized benefits that can be boosted by rebranding
If you own or have recently opened a Health Savings Account (HSA), you may wonder, “How much should I contribute to my HSA?” HSAs are a unique tax-advantaged tool for consumers to pay for qualified healthcare expenses and save for retirement. Understanding how funding works with this account is critical to answering the contribution question. HSA Funding Options After enrolling in a qualified High Deductible Health Plan (HDHP), you may open a Health Savings Account
2024 is underway, and high costs, persistent inflation, and an election year have some people feeling uneasy about health and wellness this year. What 2024 healthcare and benefits trends should TPAs watch, and how can they help employers meet changing needs and demands? 2024 Healthcare Trends Business Group on Health’s 2024 Large Employer Health Care Strategy Survey shares six healthcare topics trending for 2024: 2024 Benefits Trends Now, let’s look at the benefits that are trending for
Most health insurance policies require a deductible, but did you know there are different types of deductibles? Learn more about the deductible types, Health Savings Accounts (HSAs), HSA-qualified high-deductible health plans with embedded deductibles, and how they work together. What is a deductible? Deductibles require consumers to pay a share of their healthcare costs and encourage them to become informed consumers of healthcare services. However, there are several types of deductibles. In addition to standard
Qualified High Deductible Health Plan (HDHP) participants can use Health Savings Accounts (HSAs) to help cover their deductible responsibility. But what happens when they become eligible for Medicare? Medicare Basics Medicare is a federal health insurance program for those aged 65 and older as well as younger Americans with certain disabilities or End-Stage Renal Disease. Each of Medicare’s four parts offers a different type of coverage: HSA Basics An HSA is a tax-advantaged benefit that
DataPath, Inc., announced today a new partnership with Health-E Commerce®, the parent brand of FSA Store® and HSA Store®, to offer benefit participants easy access to online shopping, account balance information, and direct payment options for their tax-free healthcare accounts.
In 2024, perceived coverage gaps, flexibility, and affordability receive more attention as companies weigh prioritizing value versus shifting costs. November 27, 2023 By Bo Armstrong Originally posted on BenefitsPRO.com For 2024, brokers and TPAs will be well served to focus strongly on options that add significant value. In its recently released Survey on Health and Benefits Strategies for 2024, Mercer cited three key themes emerging from conversations with leadership from more than 700 organizations of varying
As the lingering effects of the pandemic continue to impact savings, the quest for financial security becomes even more critical. Despite easing inflation, many Americans find themselves unprepared for emergencies and retirement. Amid this savings struggle, the substantial growth of HSAs holds the promise of fostering growth for TPAs while helping participants better prepare for healthcare expenses and their retirement years.