Byte-Sized Benefits: Conquering Health & Benefits Confusion for the Everyday Employee

Nearly 40% of employees report that they stopped taking a medication because of the refill cost, and this rate of medication non-adherence contributes to billions of dollars each year in avoidable health care spending, including costs related to emergency room visits and hospital readmissions. Tune in to learn practical ways you can combat these rising costs and get the care you need.

• OneDigital Prescription Discount Program
• GoodRx: "What's the Difference between a  Brand-Name Drug and a Generic Drug?"

Every now and then, we stumble into those situations we categorize as “too good to be true.” "There’s just no way", we think. We’ve been duped before and won’t fall into that trap again. But today’s episode addresses something that really and truly is good, and believe it or not, it’s related to your insurance. I’m talking about Preventive Care. 

• HealthCare.gov - "Preventive care benefits for adults"
• Office of Disease Prevention and Health Promotion - "Clinical Preventive Services"
• Business Insider - "14 statistics you probably didn't know about preventive healthcare in the United States"

Selecting in-network providers and facilities to manage your health care is an essential cost control strategy that many employees overlook. While you may feel tied to your personal doctor of many years, the price tag associated with that relationship if they are considered out-of-network may be the reason to consider a move. This episode tackles the why behind those provider networks, and how an employee like you can effectively locate the right in-network provider for your needs.

Many of us pay for our kids to attend preschool, summer day camp, and before or after school programs, and many of us have in-home childcare as well. Additionally, many of us cover our parents or in-laws on our taxes and pay for various adult daycare services too, or maybe your spouse is physically or mentally impaired and needs custodial support. Now imagine receiving on average about 30% of tax savings on all of these expenses. I bet you’re listening now….

• IRS Publication 503: Child and Dependent Care Expenses
• WageWorks Dependent Care FSA Eligible Expenses
• Check out other episodes of Byte-Sized Benefits

Despite that fact that millions of Americans experience mental health struggles, we still shy away from talking about it. Learn why it's essential that we acknowledge these emotional hurdles to discover healing, and strategies to support your loved ones through similar mental health challenges.

Resources:

• SAMHSA: Substance Abuse and Mental Health Services
• Suicide Prevention Hotline: 1-800-273-Talk 
• Check out other episodes of Byte-Sized Benefits

Survey Data:

• https://www.ajmc.com/view/patient-and-clinician-experiences-with-telehealth-for-patient-followup-care 
• https://www.healthcaredive.com/news/patients-give-high-marks-to-telehealth-but-uptake-still-limited/565928/#:~:text=Among%20consumer%20telehealth%20companies%2C%20Teladoc,scores%20of%20843%20and%20820
• https://www.jdpower.com/business/press-releases/2019-us-telehealth-satisfaction-study 

The facts are plain and simple - contributing money into your HSA gives you extra money in your pocket, and it does so in a variety of ways. Whether you enjoy the income tax savings, or the tax-free spending on qualified items, or the investment opportunities to grow your account, an HSA is an incredibly effective vehicle to get you more cash money. Tune in to learn 8 tips to make the most of your HSA starting today.

Show Notes:

• Free Income Tax Calculator
• IRS Publication 502

Did you receive eight different plastic ID cards this year for your various benefits plans? I did. And even I, a self-proclaimed benefits expert, was overwhelmed by how to manage them all. This episode tackles simple hacks of digitizing your ID cards so they are at your fingertip within a moments notice and in your time of need.

This is a series for all of us – the everyday person sick of insurance jargon and complicated concepts, and sick of feeling taken advantage of by the insurance industry. This show addresses some common healthcare hacks you can master starting today to make the most of your employee benefits plans.