Gap health insurance coverage helps members pay for out-of-pocket costs under a comprehensive health insurance plan, which is usually a high-deductible health plan (HDHP). It also offers a financial safety net for employees before primary coverage begins. That said, this supplementary insurance plan has limitations. This article explains what gap insurance is, how it works, and […]

If you’re an insurance broker, creating a unique benefits package for your clients allows you to tailor employee benefits that meet the specific needs and goals of a company and its workforce. Instead of offering a one-size-fits-all plan, you customize benefits aligned with company culture, values, and budget. This might include health insurance, retirement plans, wellness programs, and […]

In 2023, about 60% of people under 65 years old had employer-sponsored health insurance (ESI). However, even though ESI has been the largest source of health benefits for younger Americans, there is still uneven coverage that employers and brokers need to address. Through an individual coverage health reimbursement arrangement (ICHRA), employers can help provide more appropriate healthcare […]

When choosing health insurance plans to offer employees, employers need to balance sufficient healthcare with cost-efficiency. High and low deductible health plans can be beneficial if used in the right circumstances. Employers and insurance brokers can use this article as a guide in determining when to choose which option. What Is a High Deductible Health Plan (HDHP)? […]

The Affordable Care Act (ACA) requires employers with over 50 employees to provide specific healthcare benefits, although smaller employers may also do so. Employees can opt for these benefits during open enrollment. There is a set schedule at the federal level. However, some states have their own schedules if they have their own healthcare Marketplaces. Whether open enrollment […]

If you miss the open enrollment period for your health benefits, your existing coverage may simply be renewed. This is the case whether you’re insured through an individual plan or your employer. However, without an existing plan, you’ll have to wait until the next open enrollment. Only specific cases allow for enrollment outside of this schedule. This […]

Insurance brokers are essential in helping employer clients navigate the complex world of health insurance benefits. Employers will want to offer competitive benefits that attract and retain top talent while benefiting the business. Understanding the nuanced difference between a Medical Expense Reimbursement Plan (MERP) and an Individual Coverage Health Reimbursement Arrangement (ICHRA) will help you […]

Employers usually offer a high deductible health plan (HDHP) or a preferred provider organization (PPO) as one of their healthcare benefits. Each has its pros and cons. However, offering both can ensure employees choose what fits their needs best, without having to sacrifice the company’s bottom line. This guide breaks down the differences and why you may […]

Healthcare premiums represent the financial backbone of health insurance. They’re the regular payments that policyholders make to maintain coverage. Healthcare premium affordability is a significant concern among policyholders, especially considering premiums are expected to increase by 7% in 2025. For employer groups who want to deliver exceptional value to members, understanding what constitutes an affordable premium […]

In 2021, 49% of adults in the United States with an income of less than $24,000 annually were “cost insecure” regarding healthcare affordability. Another 14% were considered “cost desperate.” Sixty percent of adults earning the same amount stated that healthcare costs contribute to their stress. It makes sense that healthcare benefits from employers remain attractive to prospective employees. However, […]