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Confused About Healthcare Terms? We Can Help. There are many new terms, abbreviations and jargon in healthcare communications. This glossary can help. https://lnkd.in/e6X6kwt

Looking to Add Benefits Without the Cost? Consider Non-Insured Benefits to Round Out Your Benefits Program Workplace demographics are rapidly changing, with generational shifts and rising healthcare costs creating gaps in traditional health insurance coverage. To address this, employers are increasingly turning to non-insured benefits. Initially, life, disability, and accident insurance were the main voluntary benefits, but non-insured options are now emerging. These benefits, which include telemedicine, identity theft protection, and caregiver resources, don’t involve premiums, claims, or deductibles. They help employees save on healthcare and lifestyle expenses. The adoption of non-insured benefits is rising even faster than that of insurance-based voluntary benefits a decade ago. According to recent surveys, the top non-insured benefits (in alpha order) are: Adoption Advocacy Beauty and Wellness Cancer Screening Child Care Benefits Discount RX Card EAP Elder Care Executive Benefits Functional Medicine Gap Plans Gender Affirming Resources Gym/Fitness Tools Lifestyle Accounts Long-Term Care Medicare Guidance Meditation Menopausal Benefits Pet Insurance Tech & Roadside Assistance for Truckers Tuition Assistance Send us a message if you’d like to learn how to get started with your employee benefits program.

Understanding Health Insurance Premiums for Small Businesses Today, employees prioritize health insurance as a key benefit, making it essential for small businesses to attract and retain top talent. However, managing health insurance premiums can be challenging. This guide covers the fundamentals of health insurance premiums, how small businesses can manage costs, and strategies for making informed decisions. What Are Health Insurance Premiums? A health insurance premium is the monthly payment required to keep a policy active, ensuring employees have access to medical care. Key components include: *Base Rate: The initial cost based on claims data. *Adjustments: Modifications based on location and industry. *Taxes and Fees: Additional government-imposed costs. Factors Influencing Premiums Several elements can affect health insurance costs: Employee Demographics: Age, family status, and gender impact risk assessments. *Type of Coverage: More comprehensive plans usually have higher premiums. *Geographic Location: Costs vary by region. *Industry Risks: Certain industries may face higher premiums. Financial Impact on Small Businesses Health insurance premiums can be a significant expense but also enhance employee morale and recruitment. To manage this: *Cost-Sharing Strategies: Determine how much of the premium the business will cover versus employees. *Tax Implications: Employer contributions are often tax-deductible. *Budget Forecasting: Anticipate annual premium increases. Attracting and Retaining Employees Offering quality health insurance is an investment in your workforce. Candidates often prefer employers with comprehensive benefits, which can lead to increased loyalty and productivity. Healthier employees may also take fewer sick days. Strategies to Manage Costs *Explore Different Plans: -High-Deductible Health Plans (HDHPs): Lower premiums with higher out-of-pocket costs, especially when paired with HSAs or FSAs. -Tiered Benefits Plans: Provide multiple options at varying price points. Promote Wellness: Implement wellness programs, such as fitness classes and health screenings, to encourage a healthier workforce and potentially lower premiums over time. Research Options: Research plans, join industry associations for group health plans, or consult a broker for exclusive deals. Leveraging Kavi Kavi can help small businesses access competitive health insurance rates as well as dental, vision and other plans to ensure a comprehensive benefits plan you can afford, and that your employees will love. By understanding health insurance premiums and exploring all options, small businesses can provide valuable benefits while managing expenses effectively. To get started, reach out to [email protected], or send a message through Linked In.

The Ultimate Guide to Small Business Dental Insurance Introduction: Why Dental Care Matters Oral health is a crucial component of overall well-being. As noted by the Mayo Clinic, issues in the mouth can lead to serious health problems like cardiovascular diseases and diabetes. This underscores the importance of providing affordable dental insurance to your employees, helping them understand the benefits available upon enrollment. Finding Affordable Dental Insurance Dental care costs can be significant, making dental insurance the second most requested employee benefit after medical coverage. From routine cleanings to more complex procedures, having insurance can help manage these expenses effectively. Understanding Dental Insurance Dental insurance specifically covers oral health services, including routine check-ups, fillings, and more. It typically includes features like networks, deductibles, and coinsurance, ensuring a portion of services is covered, depending on the procedure. Why Offer Dental Insurance? Regular dental visits are vital for maintaining good oral health, which can ultimately reduce overall medical costs. Providing dental benefits alongside medical insurance can significantly enhance employee satisfaction and loyalty. Dental Insurance FAQs How Does Dental Coverage Differ from Medical Coverage? While medical insurance covers a wide range of healthcare needs, dental insurance focuses specifically on oral care, including regular check-ups and specialized treatments. Is Any Dental Coverage Included in Medical Plans? Medical plans typically offer pediatric dental coverage, but adult dental care requires a separate dental insurance plan. Can I Contribute to Employees’ Dental Premiums? Absolutely! You can choose to offer either contributory or voluntary plans, allowing you to help cover employee premiums. Conclusion: Enhancing Employee Wellness Incorporating dental insurance into your employee benefits package is a strategic move that enhances overall wellness and productivity. At Kavi, we partner with Delta Dental of Washington to offer flexible plans to suit any budget. Contact us today to learn more!

Retention Through Recognition: How Delta Dental Benefits and Wellness Programs Signal Value in the Workplace The op-ed discusses the importance of employee retention in today's competitive job market, emphasizing that traditional methods like salary increases are not enough. A study by the RAND Corporation reveals that comprehensive wellness programs, including dental benefits, significantly improve employee health and business performance. Delta Dental of Washington's dental plans play a crucial role in promoting overall well-being by preventing health issues that could lead to absenteeism and reduced productivity. The article argues that recognizing employee health through such benefits fosters loyalty and reduces turnover, making businesses more attractive to top talent. For small and medium-sized companies, offering robust dental benefits can differentiate them in the job market. Ultimately, investing in wellness programs not only supports employee health but also enhances organizational success, aligning with the findings of the RAND study. The conclusion stresses the need for businesses to address the full spectrum of employee needs to build a resilient workforce. Read the full article below.

Why Dental Benefits? Special posting from our dental partner Delta Dental of Washington! As business leaders, we often look for ways to drive growth and improve our bottom line, yet we may overlook the role that employee well-being plays in this equation. Dental coverage plays a critical role in maintaining a healthy, productive workforce. When employees have access to regular dental care, they are less likely to miss work due to preventable issues, and their overall health improves. The result? A more engaged and efficient team, which directly impacts business performance. It’s time we rethink how we approach benefits, recognizing that comprehensive coverage, including dental from @Delta Dental of Washington, is not just an employee perk but a strategic investment in our business’s future.? #Leadership #EmployeeWellness #BusinessStrategy #WorkplaceHealth #employeebenefits

Telehealth for Small Business Modern health care has rapidly evolved due to advancements in technology and digital platforms, enabling patients to access medical resources and consult with doctors via smartphones. This shift has made telemedicine a popular choice for routine care and beneficial for small businesses managing health insurance budgets. What is Telemedicine? Telemedicine provides health care services online rather than through in-person visits. While not all services can be offered virtually, many employees are opting for online consultations for annual checkups and non-emergency care. Why Choose Telemedicine? *Convenience and Accessibility: Employees can schedule appointments and consult with providers from anywhere with internet access, including rural areas. *Safety: Virtual visits help reduce the spread of contagious diseases. *Cost-Effective: Regular online checkups can catch issues early, potentially reducing overall health care costs. *Enhanced Engagement: Employees can easily communicate with providers and access educational materials. *Integrated Benefits: Telehealth is increasingly expected as part of employee benefits, with utilization surpassing pre-pandemic levels. Addressing Misconceptions *Newness: Telemedicine has existed for decades, but recent technology has improved its effectiveness. *Accessibility: It's not only for remote areas; many patients choose virtual visits for convenience. *Effectiveness: Virtual consultations can effectively address many health concerns, though emergencies still require in-person care. Future of Telemedicine Advancements like AI and mobile diagnostics are enhancing telemedicine, making health care more accessible and affordable for small businesses. Continuous monitoring and instant specialist access improve employee health outcomes and reduce costs. Get Started Small businesses should promptly incorporate telemedicine into their benefits. For more information, contact Kavi at [email protected].

Evaluating the Needs of Your Business and Employees The cost of health insurance significantly impacts employees. Over 6% of adults skip necessary medical care due to cost. To protect employees, small business owners need to understand the costs of their health insurance plans. The good news is that small business are uniquely able to balance the small business health plans and the cost of these plans for their employee and their businesses. Cost Management Strategies Once the business has selected a plan, there are several ways to manage costs and provide the best coverage for employees.?These include: *High Deductible Health Plans (HDHPs): These plans, combined with Health Savings Accounts (HSAs), offer tax benefits and flexibility. Ensure employees understand deductible costs to avoid confusion. *Wellness Programs: Implementing health screenings, fitness programs, and mental health resources can promote workplace wellness without significantly increasing costs. *Employee Cost-Sharing: Typically, a business must cover at least 50% of premiums. High employee costs can impact your ability to attract and retain talent, so balance premiums carefully. *Government Incentives and Tax Credits: Check for Small Business Health Tax Credits, which can cover up to 50% of premiums, potentially reducing your costs. Employee Enrollment and Education Educating employees on your plan and its options is important in ensuring employees understand and take advantage of this benefit. ?Your carrier can provide education through handouts or sessions. Communicate deadlines and provide an enrollment checklist to help them make informed decisions. Navigating the Insurance Marketplace Navigating health insurance can be challenging, but providing the right coverage is crucial for a secure, transparent work environment. Stay informed about the latest in health insurance to best support your employees. To help small businesses navigate the healthcare landscape, get a free quote from Kavi and our insurance experts will walk you through your options, at no obligation to you. ?Just send us a message.

Understanding Comprehensive Health Insurance for Small Businesses Health insurance can be confusing for small business owners unfamiliar with the industry. Knowing the basics is crucial to offer the best coverage and comply with legal requirements. In Part 1 of this series, we will outline the basics of health coverage to give small business the knowledge they need to make informed decisions. What is Comprehensive Health Insurance? Health insurance helps employees cover medical costs, reducing financial burdens during emergencies or procedures. Comprehensive health insurance covers an even broader range of services. There are two primary types of health insurance that offers comprehensive coverage: * Health Maintenance Organizations (HMO): Offers lower out-of-pocket costs, and requires a primary care physician within the network. *Preferred Provider Organizations (PPO): Offers more flexibility with providers, with higher premiums, and out-of-network costs. Essential Services in Comprehensive Coverage Essential coverage is just that for small businesses employees – essential.?Here’s typically what’s included: Inpatient Services: *Hospital stays *Surgical procedures *Emergency services *Maternity and newborn care *Specialized care (ICU, cardiac care) *Diagnostic tests and imaging *Rehabilitation services Outpatient Services: *Doctor’s office visits *Preventive services (screenings, immunizations) *Outpatient surgery *Prescription medications *Mental health counseling Providing a mix of these services ensures financial security and strengthens the employee-employer relationship. Legal Requirements Alongside essential coverage services, employers need to be aware of the legal requirements that come with comprehensive health coverage. *Affordable Care Act Mandates: Adhere to government reporting, waiting periods, and disclosure rules. *Reporting and Disclosure Requirements: Provide employees with Summary of Benefits and Coverage forms. *COBRA Compliance: Ensure continued coverage for terminated employees. *State-Specific Mandates: Stay updated on state rules for small business health insurance. *Non-Discrimination Policies: Ensure equal coverage without discrimination. Failing to meet these requirements can lead to penalties, fines, and lawsuits. Conclusion Understanding health insurance terms, plan types, essential coverages, and legal requirements helps businesses make informed decisions. In Part 2, we'll discuss evaluating employee needs, cost management strategies, and navigating the insurance marketplace. Or, for immediate assistance, message us,?