Everybody uses their health savings account (HSA) a little differently, and that’s OK. In fact, flexibility is one of the many advantages of an HSA. However, there are a few things you should keep in mind to make sure that you’re utilizing your HSA as efficiently as possible. Be Smart …
As health care costs continue to rise, so has the value of voluntary benefits. Voluntary benefits allow employers to offer benefits that are attractive to employees without added cost to the company. Many employers consider expanding their voluntary benefits to compensate for employees’ increasing health care costs. Employees benefit because …
UnitedHealthcare has reported that “62% of participants in wellness programs say their productivity has improved, 56% have had fewer sick days and 30% say they had a disease detected thanks to these programs” – proving that wellness programs do improve employee lifestyles and decrease employer costs. Rebecca Madsen, chief consumer …
“Move over 401(k) and health insurance plans, there’s a new company benefit tailored to the millennial workforce. The “Student Loan Repayment Benefit” is the name, and it is being offered by employers, who contribute a certain dollar amount per year toward paying off an employee’s student loans. So far, only …
An EOB is a form that insurance companies send to their members to explain what part of a claim was paid by insurance, what part was not paid and why. Frequently, the terminology and language used on an EOB requires advanced understanding of medical procedure naming conventions and insurance contract …
With healthcare costs continuing to rise, new “insurance programs” are coming to market with the intent of driving better consumer behavior. Some Employers are adopting reference based pricing which puts onus on the employee to do their due diligence before “buying” a service. As price transparency for “shop-able” services are …
High deductible health plans (HDHP) are becoming a popular health plan offering among employers nationwide. HDHPs can encourage employees to spend their health dollars wisely and can motivate them to take charge of their own health and wellness. To maximize the odds that your HDHP will be a success, avoid …
How Does Your Business Measure up? An attractive benefits program is vital for your recruiting and retention efforts, but it is also a significant expense. To ensure you are providing a package that is both competitive and economical, you need to know how your offerings compare to those of other …
By: Carolyn McLaughlin-Smith Transparency in the health insurance business is a continual challenge. At Creative Benefits, we research policies meticulously before signing on the dotted line. But even when we dig deep and anticipate every fee — and pass that information along to policyholders — there are still fees we …
Benefits and wellness news to inform, empower and inspire… Creative Benefits, Inc. publishes The Pulse quarterly for the benefit of employees covered by health insurance through their employers. Our hope is that we make health insurance easier to understand so that employees can make the most of their health insurance …
Employers may feel relieved when insurance renewals are over, but the fact is their job is only half done. The next step en route to the finish line is Open Enrollment. During Open Enrollment, employees learn about benefits, select coverage, fill out enrollment forms and receive identification cards. It takes …
By: Ed Hourigan Most employees don’t think about Medicare until they need it. Year after year, they enroll in employer provided health benefits. For some, it is almost automatic. Then, when they approach Medicare age, they realize things are changing. Suddenly they need to figure out what to do. When …
It’s that time of year again. Temperatures are falling, days are getting shorter, and at Creative Benefits, we have insurance renewals and open enrollment on our minds. Most companies schedule health insurance renewals and open enrollment in December and January so the time to start thinking about these things is …
By: Macee Keelan Most employers have two overall goals when shopping for benefits. First, they want an appropriate level of coverage to protect employees. Second, they need coverage that they and their employees can afford. When healthcare costs are continually rising, achieving this balance is no easy feat. In response …
On the surface, disability and life insurance policies may seem more or less interchangeable, but a savvy benefits administrator knows how to adjust these products to make them better. When customized appropriately, disability and life insurance products are anything but cookie-cutter. Designing insurance policies can be compared to choosing options …
