Category Archive

Benefit Spotlight

Considering a Limited Purpose FSA?

Keesha Maybank 2025 September, Benefit Spotlight August 21, 2025

Making out-of-pocket payments for frequent trips to the eye doctor and dentist can add up to hundreds, if not thousands, of dollars — even with health insurance.

A High-Deductible Healthcare Plan (HDHP) often results in lower monthly premiums but can lead to significant healthcare expenses. A limited-purpose (also called limited-use) flexible spending account (LPSA) can help offset these costs, making regular or specialized treatment more affordable. While not everyone may benefit from an LPFSA, those who frequently pay for vision and dental treatments can significantly reduce their expenses with this type of account.

What Is an LPFSA?

A limited-purpose flexible spending account functions similarly to a general healthcare FSA, which employers offer to help employees save money on healthcare expenses. However, it provides more specific benefits for individuals with vision and dental needs. To determine whether an LPFSA is the right choice, it’s essential to weigh its advantages and disadvantages before enrolling.

Pros of an LPFSA:

  • 2025 contribution limit: Set to $3,300
  • Eligible expenses: Covers braces, fillings, eyeglasses (prescriptions), teeth cleaning, and eye exams
  • Tax-free funds: Contributions reduce taxable income
  • Employer contributions: Some companies contribute to employees’ LPFSA accounts
  • HSA compatibility: Employees can have a Health Savings Account (HSA) alongside their LPFSA to maximize savings
  • Additional expenses covered: Funds may be used for supplements, dental, and menstrual products

Cons of an LPFSA:

  • Eligibility: LPFSAs are only available to those enrolled in an HDHP with an HSA
  • Employment requirement: Self-employed or retired individuals do not qualify
  • Expiration of funds: Funds typically expire at the end of the year. For 2025, a rollover of up to $660 may be allowed, depending on the plan
  • Loss of funds upon job change: If you leave or are terminated, funds cannot be transferred to another account

Should You Enroll in an LPFSA?

The average out-of-pocket medical expense per capita in the U.S. has more than doubled from 1970 to 2022 and continues to rise. In 2024, Americans spent an average of $1,142 on medical bills, with individual costs varying based on healthcare needs. What sets an LPFSA apart from other FSAs is the ability to pair it with an HSA, which can maximize savings significantly.

Benefits of an HSA

Having an HSA alongside an LPFSA can increase savings over time. Unlike FSAs, health savings accounts (HSAs) are tax-free, never expire, and remain yours even if you leave your job. This means that withdrawals will not be taxed as long as the funds are used for eligible medical expenses. Since HSA funds roll over annually, pairing an LPFSA with an HSA allows individuals to save money year after year while reserving their HSA contributions for future expenses. This approach is ideal for those whose medical expenses are equal to or less than the $3,300 LPFSA contribution limit.

Drawbacks of an HSA 

To qualify for an HSA, individuals must be enrolled in an HDHP. HSAs are only compatible with LPFSAs, meaning other flexible spending arrangements do not qualify. Additionally, individuals cannot contribute to an HSA if they:

  • Are claimed as a dependent on someone’s tax return
  • Have Medicare coverage
  • Are included in a spouse’s healthcare plan

The IRS also limits contributions to HSAs. In 2025, singles can contribute up to $4,300, while families with HDHP coverage can contribute up to $8,550.

Choosing the Right Healthcare Plan

Making informed decisions about healthcare savings can lead to significant financial benefits in the long run. By carefully evaluating the advantages of an LPFSA and pairing it with an HSA, individuals can maximize tax savings while covering essential medical expenses. Planning ahead and utilizing employer-sponsored benefits ensures greater financial security, especially for those with frequent vision and dental needs. Ultimately, choosing the right healthcare plan means balancing current expenses with future savings, allowing individuals to feel confident in their financial and medical decisions. Taking proactive steps today can lead to better financial stability and improved healthcare access over time.

Since HSA funds roll over annually, pairing an LPFSA with an HSA allows individuals to save money year after year while reserving their HSA contributions for future expenses.

Lantern (Formerly SurgeryPlus)

Lynn White 2025 October, Benefit Spotlight August 12, 2025

Lantern is a benefit program offered by some employers to help employees and their families access high-quality, non-emergency surgeries.

Think of it like a concierge service for surgery — handling everything from finding a top-rated doctor to coordinating your travel (if needed). Lantern covers over 1,500 planned surgical procedures, including those in categories like spine, general surgery, orthopedic, ear, nose, and throat, cardiac, gastrointestinal, and injections.

The program partners with a nationwide network of carefully selected surgeons and facilities that meet strict quality and safety standards. And here’s the best part: when you use Lantern, your costs could be dramatically reduced — or even eliminated completely depending on your employer’s plan. This isn’t just a different way to schedule surgery. It’s a better, smarter, more supportive experience from start to finish.

Benefits

  • Lower (or No) Out-of-Pocket Costs – One of the biggest perks of Lantern is the cost savings. When you use the program, you may pay little to nothing out of pocket. That means no surprise bills later, and no guessing what your surgery is going to cost. Everything is explained upfront, so you can focus on healing.
  • Access to High-Quality Surgeons – Lantern doesn’t just partner with any providers. Every surgeon in the network has been vetted for training, experience, and outcomes. So instead of sorting through hundreds of options on your own, you’re matched with a specialist who’s proven to deliver great care.
  • Full-Service Support – From the first phone call to your post-surgery check-up, Lantern is with you every step of the way. You’ll be assigned a Care Advocate who will schedule appointments, help with paperwork, and even assist with travel arrangements if the best provider isn’t local. It’s like having a personal assistant just for your surgery.

How to Use Lantern

Getting started with Lantern is easy, and your HR team or benefits provider can confirm if it’s part of your plan. Once you’re enrolled, just follow these steps:

  1. Call the Lantern Member Services Line: You’ll speak with a friendly Care Advocate who will walk you through the process and ask a few questions about your needs.
  2. Get Matched With a Top Surgeon: Based on your procedure and location, you’ll be paired with a high-quality provider. If travel is required, they’ll help you plan that too — and in most cases, those travel costs are covered!
  3. Schedule and Prepare: Your Care Advocate will coordinate everything, from the consultation to surgery day and follow-up appointments. You’ll know what to expect every step of the way.

If you or a family member has a planned surgery coming up, check with your HR department or benefits provider to see if Lantern is available to you.

Pet Insurance

2025 August, Benefit Spotlight July 31, 2025

Taking your pet to the vet, even for a routine check-up, can be an expensive experience.

The bill tends to increase if your pet needs surgery, prescription medications, or treatment for illness. Enter pet insurance, a benefit offered by many employers because they know how expensive our furry, and some not-so-furry, friends can be.

What Is Pet Insurance?

Essentially, pet insurance is a policy offered in your benefits plan. It’s a policy that can help cover the costs of your pet’s medical care, from routine checkups to cancer treatments. In most cases, you pay a monthly premium and then submit a claim for any eligible expenses after going to the vet. It’s really that simple! Some plans may need you to hit a deductible before coverage kicks in.

What Does It Cover?

Pet insurance covers a wide variety of treatments, procedures, and injuries. Here’s a list of some of the things you could have coverage for:

  • Broken bones
  • Foreign object ingestion
  • Cancer
  • Hip dysplasia
  • Ligament tears
  • Cataracts
  • Medication
  • X-rays, blood tests, or MRIs
  • Emergency exam fees

What’s in It for You?

Enrolling in benefits can be overwhelming and adding in an extra cost for your pet may seem like something you can pass up. However, the American Veterinary Association encourages all pet owners to enroll in pet insurance because it can offset costs that will only keep rising due to the field becoming more technologically advanced. Better technology, equipment, facilities, and training required to perform procedures and implement modern medicine are rapidly increasing the costs of anything pet related.

Pet insurance can ease your mind by taking your thoughts off the financial burdens that come with a vet visit. This way, you can focus on your pet’s health instead of what it’s going to cost you. It allows you to choose the best treatment options without the financial constraints, and most of all, protects you financially by covering bills you would normally have to pay in full.

If you’re hesitant about pet insurance, you can always talk with your Benefits Department and can even consult your veterinarian on the best plan option for you and your pet.

Urgent Care vs. Standalone ERs

Keesha Maybank 2025 July, Benefit Spotlight June 18, 2025

Have you ever found yourself in a situation of not knowing if you should go to an urgent care or an emergency room?

While they seem similar, the two differ in several ways. Knowing where to go can help you save time and money.

Standalone ERs should be utilized by those experiencing life-threatening conditions. If you require immediate medical attention, the ER is your best bet. Urgent Cares, on the other hand, are the middle ground between your primary care physician (PCP) and the emergency room, according to Mayo Clinic. If the injury or illness is not life-threatening but it can’t wait until you can see your PCP, head to an Urgent Care. The following list goes into detail on some factors to consider before choosing where to go.

Standalone ER

Severity: Life-threatening conditions such as chest pain, severe abdominal pain, head injuries, and uncontrolled bleeding

Hours: 24/7

Cost: More expensive due to a higher level of care and resources available

Staffing: Board-certified emergency physicians and nurses trained in emergency care

Urgent Care

Severity: Mild conditions like sprains, minor cuts, urinary tract infections, and earaches

Hours: Typically operate during normal business hours with some weekend and evening hours; not 24/7

Cost: Less expensive than ERs; shorter wait times

Staffing: Mainly physician assistants (PAs), nurse practitioners, and sometimes physicians

The next time you find yourself in a situation trying to decide where to go, reference this list so you can make the best decision based on your needs.

Biometric Screening

Lynn White 2025 June, Benefit Spotlight May 6, 2025

A biometric screening usually measures height, weight, blood pressure, cholesterol levels, blood sugar, and waist circumference.

A biometric screening is a clinical test that measures various physical characteristics of the body, to determine an individual’s overall health. More importantly, the results of a biometric screening provide insights into potential health risks such as diabetes and heart disease. It is conducted by taking a blood sample, usually in the form of a finger prick.

Many employers use biometric screenings to assess their employees’ overall health. This allows them to implement personalized, helpful strategies into their wellness program to improve employee health.

Biometric screenings encourage individuals to make healthier lifestyle choices and urge them to participate in activities that promote good health. Our health is the most valuable asset we have and taking care of it should always be a top priority.

Give, Save, Spend: How to Adopt Healthy Financial Habits

2025 May, Benefit Spotlight April 23, 2025

Going off to work to pay for yesterday rather than tomorrow has become the norm for most Americans. The average debt reported in 2023 for each American was $103,215, with housing debt making the top of the list.

Credit card companies have increased the ability to get what you want now with an instant swipe or Apple Pay, and you can worry about it later. However, it is still possible to cut down debt and adopt healthy financial habits that can help you invest for you and your family’s future.

Saving for the Future

Investing your money for tomorrow’s unknown circumstances is important. Not only should you save for the unknown but for things you may want to do such as buy a house or car, retirement, college expenses, and vacations. It can be difficult to determine how much to save each month when expenses can consume most of your earnings, but starting small is best. As budgeting becomes more manageable, you will find that you can save more. Here are some more tips you can put in practice:

  • Start with what you can – If you can only save $10 a month, start there. As time progresses, pick up the value each month. Don’t beat yourself up if you must skip saving for a month or two.
  • Save unexpected money – There are times we receive birthday money, a bonus check at work, a nice tax refund, or sold some items for cash. These can be used to save extra as they don’t impact your monthly budget.
  • Automate savings – Whenever you receive pay from your job, you can set a portion automatically to your savings. This is helpful because you won’t need to set a reminder and will not feel tempted to take from your savings.
  • Audit your budget – As you create your budget, it’s best to perform an audit to see what expenses can be removed or reduce. Instead of going out to eat several times a week, limit that to two or three a month. Try at-home fitness or a run around the block instead of a monthly gym membership. Create small pockets of savings for large purchases like clothes, shoes, mini vacations, and tech gadgets.

Spending Wisely

If you can’t afford it today, it’s not worth purchasing. One of the best ways to avoid overspending or spending within your means is by creating a budget. A monthly budget will allow you to look over your income, focus on tackling your expenses, and seeing if you have room to enjoy. There are some ideas to consider when starting out on creating a budget or new habits you may want to incorporate:

Track your spending – Write down everything you spend your money on. Whether it’s on an app, spreadsheet, or pen and paper, tracking your money will help you know where it’s going.

Remove unnecessary expenses – There are some subscriptions or services that you might be paying for but no longer use. It’s time to cancel and reallocate that money.

Switch phone plan – Instead of having the latest phone or upgraded phone plan, switching them for cheaper can help you save money.

Refinance car or mortgage – You can save extra money by finding a better rate on your mortgage or car loan.

Pay off debt early – Before adding extra funds into your savings, see if you can try allocating more money towards credit cards, student loans, and other debt so that you can pay them off early.

50/30/20 rule – If you need help creating a budget, try sticking to the 50/30/20 rule for managing your income: 50% for essentials, 30% for extras, and 20% for savings and debt.

Why Giving Is Important?

Thinking about and managing money leaves many people feeling stressful. It falls within the top five reasons for divorce in the United States. You might be surprised but giving some of your money to charitable organizations after budgeting can help increase happiness and have long-lasting effects on your overall well-being. In a 2018 study, psychologists discovered that when people give often, their joy last longer. The opposite was also true. Those in the experiment who gave less experienced a decline in happiness over time.

Whether you decide to give for a personal connection to a cause that matters to you, for community support and projects, or for increased of happiness, your charitable giving will go beyond kindness and will help you feel less inclined to overspend.

Source:

https://www.merceradvisors.com/insights/personal-finance/the-benefits-of-charitable-giving/

https://www.usatoday.com/money/blueprint/debt/average-american-debt-statistics/

https://journals.sagepub.com/doi/abs/10.1177/0956797618814145?journalCode=pssa

https://www.forbes.com/advisor/banking/savings/why-is-it-important-to-save-

https://www.creditkarma.com/money/i/saving-money

Advantages and Disadvantages of Young Adults (Under 26) Staying on Their Parents’ Health Insurance

Kaylon Walton 2025 April, Benefit Spotlight March 7, 2025
Asian senior father and his adult son using laptop computer while sitting at home

Under the Affordable Care Act (ACA), young adults below the age of 26 are eligible to receive healthcare coverage under their parent’s medical plan.

Dependents are allowed to stay on even if they are married, in college, have kids, are not financially dependent on their parents, and are eligible to enroll in their employer’s plan.

The Pros of Staying on Your Parent’s Plan

Parents who have children over the age of 18 but under the age of 26 might want to consider keeping their child under their healthcare coverage. This could save your adult child hundreds or even thousands of dollars in medical expenses. Most young adults are not familiar in knowing which healthcare option is best for them and usually opt for the costly one. Some post-grad jobs don’t offer healthcare coverage or one that is suitable. Colleges can offer some that are also too pricey.

The Cons of Not Having Your Own Health Coverage

Some health insurance plans may charge high premiums when adding additional dependents. It’s best to compare healthcare coverages offered by your child’s job or college versus your company to see which offers the best coverage at a lower cost. You may want to consider different factors such as any chronic medical condition that your dependent may have as this could mean higher monthly premiums. Some health plan coverages charge for additional dependents added. Having more than one child on your health plan can increase premiums. Also, if your health insurance plan consists mainly of out-of-network doctors, this could also raise the cost of your insurance and out-of-pocket expenses.

Choose What’s Best

If you are considering whether keeping your child above the age of 18 on your health insurance is the best option, here are some key points you must keep in mind before enrolling.

  • Health insurance premiums can increase when adding dependents.
  • Compare the coverages of your family health plan and the one offered by your child’s employer.
  • Dependents with chronic medical issues can increase monthly premiums.
  • Healthy dependents help lower monthly premiums and increase higher deductibles which may allow you to be eligible for a Health Savings Account.

Having your dependent on your health plan can save them a lot of money in the long run. It’s best to look at different plans to see which works best for you and your dependent(s). If monthly premiums are too high with dependents but still seem like the better option, you can always have your child pitch in to cover costs if they are working full time.

Under the Affordable Care Act (ACA), young adults below the age of 26 are eligible to receive healthcare coverage under their parent’s medical plan.

Healthy dependents help lower monthly premiums and increase higher deductibles which may allow you to be eligible for a Health Savings Account.

Source:

https://www.cnbc.com/select/staying-on-parents-health-insurance-plan-under-age-26/

https://www.healthcare.gov/young-adults/children-under-26/

https://www.dol.gov/agencies/ebsa/about-ebsa/our-activities/resource-center/faqs/young-adult-and-aca

https://www.healthinsurance.org/faqs/under-the-aca-can-young-adults-still-remain-on-their-parents-health-plans-until-age-26/

Menopausal Support Is Here

Lynn White 2025 March, Benefit Spotlight February 13, 2025

Over 73% of women in 2021 reported not receiving treatments necessary to deal with menopausal symptoms.

Menopause is a natural process that marks the end of a woman’s menstrual cycle and happens to all women around their 40s or 50s. During this time, the production of estrogen and progesterone hormones that prep the body for pregnancy ends. There are numerous symptoms and health issues that can result from menopause. However, every woman’s body is different, so it is crucial to find resources provided through medical plans or vendors that can help ease the transition more securely.

Do I Need the Resources?

In the past, menopause symptoms and treatments were almost unheard of and under-reported. An online survey conducted via social media found that over 80% of women reported receiving no menopause education at school. Some women said that they learned about menopause through websites and friends. In the past few years, menopause awareness has risen in public health, yet over 73% of women in 2021 reported not receiving treatments necessary to deal with symptoms. In another 2023 survey taken by 2,000 American and British women, 80% agreed that managing perimenopause or menopause at work is a challenge but may fear sharing information with their employers as it could impact career growth.

Not only should women who are between the ages of 40 and 50 seek resources to help mitigate the challenges and questions brought on by menopause, but also those who received a hysterectomy or chemotherapy treatments may need additional support to help with the transition. If you fall between the age range for menopause or received certain treatments, it’s best to lookout for symptoms to know when it’s time to reach out such as:

  • Irregular periods
  • Hot flashes
  • Loss of bladder control
  • Trouble Sleeping
  • Loss of Libido
  • Mood Changes

Available Resouces

As the workforce ages and includes more women than ever before, employers recognize that menopause cause health challenges that may affect the productivity of some of their employees. To combat this, many jobs have teamed up with medical providers that offer resources in their health benefit packages for menopause support. Here are several options that are available through existing medical plans and vendors that might be beneficial to consider:

  • Ovia Health – Family health benefits platform that offers menopause support. Access education and guidance to better understand and effectively manage menopause with confidence.
  • Evernow – A subscription-based online platform that provides comprehensive care across all areas of menopause. Features include 24/7 in-app messaging with your provider, symptoms tracking, educational content, and access to community events. Membership plans are FSA/HSA eligible.
  • Gennev – Healthcare company that focuses specifically on menopause health. Available in all 50 states for those enrolled in Aetna, Anthem, or United Healthcare. You receive flexible scheduling, a fitness and weight management coach, and same-day prescription.
  • Midi Health – Women’s healthcare provider that is available through Aetna, United Healthcare, Health Net, Blue California, Anthem, and Cigna. It provides virtual visits, lifestyle coaching, and will assist in finding a facility near you for in-person care.
  • Maven Clinic – Provides employees and spouses through approved insurance plans support through all stages of reproduction from fertility to menopause. You receive free, 24/7 virtual access to menopause symptom management.

The number of healthcare companies that are now offering menopausal support is growing, and it is vital for women to know their options and seek out resources that will aid in their well-being during this natural stage of life.

Between 15 and 50% of perimenopausal and menopausal individuals may experience other menopause symptoms including anxiety and depression.
Sources:

Lifestyle Spending Accounts

Kaylon Walton 2025 February, Benefit Spotlight January 12, 2025
Woman enjoying herself in a café

A Lifestyle Spending Account (LSA) is a flexible benefit offered by employers to employees, designed to cover a wide range of personal well-being expenses that are not typically included in standard benefits packages.

Unlike traditional benefits like health insurance or retirement contributions, LSAs give employees the freedom to use a set budget for a variety of wellness-related or lifestyle-related activities, often beyond what’s covered by conventional benefits.

Common Uses for an LSA

  • Fitness and wellness: Gym memberships, fitness classes, personal training, or wellness apps.
  • Healthy eating: Subscriptions to healthy food delivery services or nutritional counseling.
  • Home office supplies: Desk chairs, ergonomic equipment, or other home office setup needs.
  • Travel: Fitness retreats, wellness vacations, or even transportation-related costs like commuting.
  • Professional development: Courses, seminars, or subscriptions for educational resources.

Key Features

  • Flexible: Employees can choose how to spend the funds within certain categories.
  • Annual or quarterly allowances: Employers may allocate a set amount of money each year or quarter for employees to spend on these approved services or products.

How Is an LSA Different From an HSA or FSA?

Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) can only be used for IRS-approved expenses such as medical copays, eyeglasses, or dental care, whereas Lifestyle Spending Accounts have fewer restrictions. The main difference, however, is that expenses submitted for reimbursement through a Lifestyle Spending Account are taxable to you. What does that mean? The reimbursed amount is considered income and is therefore subject to the same taxes as your normal wages. (In other words, your reimbursement will be the amount of the expense minus taxes.)

Girl on sofa with computer

Healthcare Transparency

2025 January, Benefit Spotlight December 23, 2024

Healthcare costs in the United States have long been a source of frustration for patients, with many unaware of the price of medical services until they receive a bill. This lack of transparency can lead to unexpected financial burdens, making it difficult for patients to make informed decisions about their care.

In recent years, there has been a growing push for cost transparency, driven by both consumers and policymakers. The goal is to give patients access to clear and accurate pricing information before they receive services, allowing them to compare costs and make choices that align with their budgets.

Several initiatives have emerged to promote transparency, such as the Affordable Care Act’s requirement for hospitals to publish standard pricing data, and new tools that allow consumers to estimate their out-of-pocket costs based on their insurance plans. These efforts aim to reduce the surprise medical bills that often result from unforeseen treatments or out-of-network charges.

Cost transparency can empower patients to take control of their healthcare spending, improve competition among providers, and ultimately drive down prices. As the demand for transparency grows, it could reshape the way we think about and interact with healthcare, fostering a more patient-centered and cost-efficient system.

‹  Older posts