The Murphy Insurance Group Blog

Comparing HSAs, FSAs, and HRAs: Which Approach is Best?

Posted by Alissa Pfeiffer on December 29, 2015 at 8:45 AM

Employers are increasingly looking to consumer driven health plans to help soften the blow of continually rising health care costs. Depending on the model, these plans typically include Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), and Health Reimbursement Arrangements (HRAs). Some plans allow employees to use these accounts to pay for medical expenses that are not covered by insurance, while employers use others to provide employees with a fixed dollar amount with which they can purchase health care services. Below is some some basic information about the similarities and differences between HRAs, FSAs, and HSAs.

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Employee Feedback: Why You Need It and How to Get It

Posted by Alissa Pfeiffer on December 21, 2015 at 8:19 AM

Although you may feel as though you have a handle on your business, you may be in the dark regarding your employees’ satisfaction with the company as a whole, your policies, or the way employees are treated. Without this knowledge, you cannot successfully increase employee morale and loyalty to the company, nor can you fully meet your employees’ needs.

According to the Employment Times, employees are more productive, have fewer work-related accidents, file less workers compensation claims, are less likely to steal from their employers, are less likely to quit, and are more likely to recommend the company to a friend when they feel as though they are cared about at work.

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When is a Workers Compensation Claim Compensable?

Posted by Alissa Pfeiffer on December 14, 2015 at 8:36 AM

Carefully evaluating workers compensation claims is crucial in helping your company save money and prevent fraud. Workers compensation is a form of insurance that offers employees medical coverage in the event they are injured during a work-related function. Depending on the state of residence, it may also give compensation for disabilities sustained or cover rehabilitation costs so the employee can return to the workplace quickly and smoothly.

Workers compensation is crucial to protecting employees, but it is often a source of contention among employers because it comes with considerable gray areas. When is a claim compensable?

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Voluntary Benefits: How to Educate Your Employees

Posted by Alissa Pfeiffer on December 8, 2015 at 8:40 AM

Offering voluntary benefits is a great way to enhance your benefits package, differentiate from competitors, and increase employee satisfaction—all with little impact on your budget. But while employers may choose to offer numerous types of voluntary benefits that can deliver convenience and value for employees, many employees do not understand the advantages of these voluntary benefit options or are unclear how they work. Educate your employees on the advantages of these voluntary benefits so that you both reap the rewards.

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The Cost of Inaccurate Disability Ratings

Posted by Alissa Pfeiffer on December 2, 2015 at 8:11 AM

As health care and insurance costs continue to rise, a single disability rating issue can result in significant costs for employers. Inaccurate disability ratings—when an injured worker’s level of impairment is overstated in a disability rating assessment—often go unnoticed by employers. Inaccurately high disability ratings can affect state and federal payouts, increase premiums for organizations with experience-based coverage, and can elevate costs for self-insured organizations. Inaccurate impairment ratings may also subject employers to Americans with Disabilities Act (ADA) compliance.  

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