Know Your Perks
This benefit allows employees to set aside pre-tax dollars for medical expenses.
What is an HSA or FSA
This type of program often includes financial education, exercise, eating habits, gym reimbursements, fitness challenges, and step-tracking competitions.
What is a Wellness Program
This federal law requires employers to provide unpaid, job-protected leave for medical and family reasons.
(What is the Family and Medical Leave Act (FMLA)?)
In this traditional health insurance model, employers pay a fixed premium to an insurance carrier, which assumes all financial risk.
(What is Fully Funded insurance?)
This policy limits health benefits for spouses if they have access to coverage through their own employer’s plan.
What is a spousal carve-out?
This company-sponsored benefit provides financial protection to an employee's family in case of their passing.
What is life insurance?
Many companies offer this free and confidential program to support employees' mental health, financial counseling, and legal aid.
(What is an Employee Assistance Program (EAP)?)
This law ensures employees can continue their health insurance coverage after leaving a job, though they must pay the full premium.
(What is COBRA?)
This funding model blends aspects of fully funded and self-funded plans, where employers pay a set monthly amount but may receive refunds if claims are lower than expected.
(What is Level Funding?)
These third-party administrators manage prescription drug programs for health plans, negotiating discounts with pharmacies and drug manufacturers.
What are Pharmacy Benefit Managers (PBMs)?
This workplace perk helps employees pay off or refinance their school loans.
What is student loan assistance?
This type of insurance benefit covers therapy, counseling, and psychiatric care.
(What is mental health coverage?)
Employers offering insurance over 100 covered lives must file this form annually with the Department of Labor to report plan details and ensure ERISA compliance.
What is Form 5500?
Under this approach, employers take on the financial risk of paying employees’ health claims directly, rather than purchasing a traditional insurance plan.
(What is Self-Funding?)
This cost-containment process requires a healthcare provider to get approval from the insurance plan before delivering certain medications, tests, or treatments.
What is prior authorization?
Many companies offer this benefit to help employees further their education by covering tuition costs.
What is tuition reimbursement?
This annual health-related appointment can often be completed at work and helps detect issues early.
What is biometric screening?
This form confirms that a full-time employee was offered affordable health coverage.
What is a 1095 form
This type of reimbursement arrangement allows employers to offer tax-free stipends for employees to purchase their own health insurance.
(What is an Individual Coverage Health Reimbursement Arrangement (ICHRA)?)
Employers can analyze this type of data to identify high-cost claimants, utilization trends, and opportunities for plan design changes.
What are Claims or Utilization reports
This benefit provides partial income replacement when an employee is unable to work due to a non-work-related illness, injury, or childbirth.
What is short-term disability insurance?
To reduce burnout, some companies implement this policy where employees completely disconnect from work during vacations.
(What is a "right to disconnect" policy or enforced PTO?)
This testing ensures that certain benefit plans do not favor highly compensated employees over non highly compensated employees
What is Discrimination Testing
This alternative funding method involves a group of employers pooling their resources to share the risk of healthcare expenses.
(What is a Captive Insurance Plan?)
This prescription drug cost-control strategy requires patients to try lower-cost or generic medications before moving to more expensive alternatives.
What is step therapy?