In 2024, the average annual premiums for employer-sponsored health insurance cost $8,951 for single coverage, a 6% rise from the previous year. For family coverage, this figure was $25,572, 7% higher than the previous year. This trend of rising medical costs looks set to continue into 2026. Considering these price increases, it’s not surprising that many employers […]

With rising healthcare costs, small business owners are looking to provide competitive health benefits while managing tight budgets. The Individual Coverage Health Reimbursement Arrangement (ICHRA) is one innovative solution gaining popularity for its flexibility and the cost control it affords to employers. This guide lays out the pros and cons of ICHRA solutions so you […]

Understanding the meaning of an HDHP lets you pitch the right plans to your clients. As a plan regulated by the Affordable Care Act (ACA), an HDHP has limits that can influence an employer’s decision. The plan offers benefits, such as lower monthly premiums and full coverage for preventive services. It also works with tax-advantaged accounts, like […]

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 […]