Open enrollment is the time of year reserved for you to make changes to your benefit elections and unfamiliar terms can make this process confusing. Use these definitions of common open enrollment terms to help you navigate your benefits options. Coinsurance – The amount or percentage that you pay for certain covered health care services […]
Making wise decisions about your benefits requires planning. By selecting benefits that provide the best care and coverage, you can optimize their value and minimize the impact on your budget. Many people get tripped up when asked to select benefits for themselves and their families because these decisions can be complicated, and it is often […]
Most individuals go through a number of life events that affect their health benefit needs and the choices they make. There are several important federal laws that affect your benefits under a job-based health plan. Below is a list of life events and a brief description of federal laws that may protect your rights when […]
On May 28, 2019, the IRS announced the inflation-adjusted limits for HSAs for 2020. Nearly all of the dollar limits currently in effect for 2019 will change for 2020. What are the adjustments? The HSA contribution limit for self-only coverage will increase by $50 to $3,550. The HSA contribution limit for family coverage will increase […]