by user | Feb 14, 2022 | Explainers
Industry Terms What is Life Insurance? Life insurance is a contract that you enter into to ensure that your loved ones are financially protected in the event of your death. The contract states that, upon your death, the insurance company will pay a specific amount of...
by user | Feb 13, 2022 | Explainers
Industry Terms What is an HRA? HRA is a Health Reimbursement Arrangement, a tax-free fund solely funded by the employer to cover employees’ medical expenses. HRAs may be offered along with other employer-provided benefits such as the FSAs or High Deductible Health...
by user | Feb 13, 2022 | Explainers
Industry Terms What is an HSA? HSA is a Health Savings Account, a tax-exempt account funded by the employee or the employer to cover the employee’s out-of-pocket medical expenses. HSAs must accompany a corresponding High Deductible Health Plan (HDHP). A Limited...
by user | Feb 13, 2022 | Explainers
HRA, HSA, FSA Health & FSA Limited Purpose Comparing the tax-advantaged gap funds that help to manage the healthcare services and qualified medical expenses. Use this chart to determine which one would be most fitting to your employees and your needs. Compare...
by user | Feb 13, 2022 | Explainers
Industry Terms Guidance for Employers to Choose the Right Set of Medical Plans Most employers offer a choice of three or four medical plans in the employer-sponsored insurance market. Some smaller employers may offer just two plans or sometimes a single plan with no...
by user | Feb 13, 2022 | Explainers
Industry Terms Guidance for Employers to Choose the Right Set of Medical Plans Please review the Understanding Health Insurance Costs topic prior to reviewing this material. Knowing the costs helps you make better decisions. Factors that play role in this decision...
