As healthcare spending escalates, many organizations are looking to design innovative programs that curb costs without sacrificing overall employee care and satisfaction. One cost-shifting strategy gaining popularity amongst employers is the reference-based pricing (RBP) model. How RBP Works RBP works by setting spending limits on certain procedures or services — …
In light of the current COVID-19 pandemic, employees have the opportunity to take advantage of the loosened requirements regarding how they can spend their health savings account (HSA) dollars. Employees can now utilize their HSA dollars to pay for telehealth services, over-the-counter (OTC) medications, feminine hygiene products and more. Many …
During this unprecedented time, employers are looking for ways to provide a sense of relief to their employees. We’ve outlined items employers can share with workers to assist them in light of the COVID-19 crisis. Relief due to Legislation & Carrier Action Updates to new legislation continue to be released …
A patient’s ability to better access healthcare and overcome traditional barriers of time and distance comes with the help of innovative technologies. To keep up in a world consumed by tech, the healthcare industry continues to listen to the demands of its consumers with further acceptance and utilization of telemedicine. …
When an individual is searching for a job or is already currently employed, health benefits remain a high point of interest, a necessity, especially in a strong economy and tight labor market. Recent surveys suggest, 80% of employees would choose additional health benefits over a pay raise. This explains why …
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 …
