Traditional health benefits have been going up in cost for years. Since 2006, healthcare costs have tripled compared to how much compensation has increased. Because of this, innovative solutions have been developed to mitigate those rising costs without sacrificing the quality of benefits and coverage. HSA, FSA, and HRA are all tools that serve as […]
Most employers are aware of how important it is to provide employees healthcare. Many times, an employer helps by purchasing the best priced insurance plan they can find and leave it at that. In most cases, employers don’t want to overspend, especially on healthcare. After all, 50% of employees account for only 3% of the […]
Just last week, new HRA rules have been announced in a joint publication by multiple Federal agencies. These rules open up more options to employers who want to help their employees find affordable health coverage, specifically in the form of new HRAs. These two new HRAs are called an Individual Coverage HRA and the Excepted […]
The language used in health insurance is probably most similar to that old Disney movie Rocketman, where the unsuspecting genius Fred Randall is called upon to become an overnight-astronaut. Because of the urgency of the mission, he didn’t have time to learn the acronyms, so to fit in he started just making up his own. […]