Traditional group health plans have been around for several decades. Boiled down, traditional insurance means a monthly premium is paid for a plan, and most of the risk is then transferred from the individual to the carrier. Traditional group plans consist of the same core elements: deductibles, copays, coinsurance, and the infamous out-of-pocket max. Every […]
If you are planning on giving extra pay to your employees and cancelling your group health coverage, there are some important things you need to understand before doing so. While there is value in giving employees more choice when it comes to their health benefits, there are a few ways you can improve the transition […]
In our previous post, we explored the basics of providing wage increases vs. health benefits. The wage increase model continues to grow in popularity and success, but we know there are still many questions around the topic. The following are four FAQs about providing employees extra pay instead of health insurance. Quick Definition: What is […]