Overview: Health care insurance provides protection against the risk of medical expenses and generally provides coverage for doctor visits, hospital stays, medicines and other medical expenses defined in the contract. Issuers of group health insurance can assess the risk associated with an employer's group and develop a financial arrangement typically in the form of a monthly insurance premium.
A health insurance policy or contract is a written document that defines the type and amount of health care services covered, and, if both parties agree, are renewable on a periodic basis, usually annually. In employer group health plans, employees usually share the cost of their health plan with their employer by paying their share of premium contributions and by paying deductibles, co-payments and co-insurance.
Author: Tracy Morley, SPHR, Legal Editor
Updated to include information on the forthcoming topics: Affordable Care Act, Flexible Spending Accounts, and Paid Time Off Benefits
The end of every calendar year brings with it a multitude of annual payroll and Affordable Care Act reporting and filing requirements for which an employer must carefully plan ahead. XpertHR provides the resources an employer needs to successfully manage key year-end challenges and deadlines
Updated to reflect an increase in the PCORI fee and under review in relation to the final rules regarding contraceptive coverage under the Affordable Care Act.
Updated to reflect new information regarding moving expense reimbursements, and meal and entertainment expenses, effective January 1, 2018.
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HR guidance on the importance of understanding health care insurance.