Make Sure Your Employees Know the Basics of HSA Reporting And Record Keeping
Health savings accounts (HSAs) give individuals a tax-favored way to save for and pay for health care expenses. HSAs may be established by employers for their employees, or by individuals outside of an employer-based plan. Eligibility hinges on whether the individual is covered under a qualified high deductible health plan (HDHP), and has no other disqualifying health plan coverage (such as Medicare or coverage under another plan).
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Considering a Dental Plan? Comparing Key Features Critical to Making the Right Choice
Dental insurance frequently is cited as among the types of benefits most sought after by employees. With relatively low and predictable premiums, dental insurance is an excellent choice for a company looking to add to its benefits offerings.
Whether the employer contributes to the cost of coverage or offers it on an employee-pay-all basis, comparison shopping among carriers will help guarantee selection of a plan that is both appropriate for the workforce’s needs, and a good value. The following are among the considerations to keep in mind when comparing dental insurance plans--
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Making the Case for Long-Term Care Insurance
The case for long-term care (LTC) insurance becomes more compelling with each passing year. According to figures published by the Bureau of Labor Statistics (BLS), the cost of receiving LTC services in one’s home (for five hours per day, five days per week) averages $20,000 annually, while the cost of a semi-private room in a nursing home averages $52,000. The latter figure becomes more dramatic when one considers projections that this cost will rise to $190,600 by the year 2030, and that the average length of stay in a nursing home is 2.6 years.
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Complementary and Alternative Medicine Becomes More Conventional
In growing numbers, individuals are turning to complementary and alternative medicine (CAM) as part of their health care regimen. A report from the Centers for Disease Control and Prevention’s National Center for Complementary and Alternative Medicine found that 36% of U.S. adults have used some form of CAM. The most utilized CAM therapies (excluding prayer) include natural products (herbs, botanicals), used by 19%; deep breathing exercises, 12%; meditation, 8%; chiropractic care, 8%; yoga, 5%; massage, 5%; and diet-based therapy, 4%.
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