Beneficial Conversation
With many companies now in open enrollment, HR staff have lots to talk over with employees. Benefit provider and public education company WageWorks has some suggestions about the things that are most important for workers to think about.
The first aspects of national health-care reform are kicking in, with major changes including the availability of free preventative care and the ability to add adult children up to age 26 to parents’ plans. The new law also changes how flexible spending accounts can be used to buy over-the-counter drugs, and it eliminates lifetime and annual cost caps.
WageWorks also suggests talking with employees about flexible spending accounts. Many Americans are confused about how they work, and just one in five people with access to an FSA enrolls. The firm, which sells FSA programs, says participants can save up to 40 percent on out-of-pocket health costs.
WageWorks also suggests talking with employees about their health benefits all year long, not just during open enrollment periods. Keeping a conversation going allows workers to evaluate how their package is working so they can make more informed decisions net time around.
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