What is the difference between HMO and PPO health plans?
HMO: Requires referrals and primary care coordination
PPO: Offers more flexibility and out-of-network coverage
What are voluntary benefits?
Voluntary benefits are optional insurance products employees can purchase through payroll deductions.
Examples include:
Accident insurance
Critical illness insurance
Hospital indemnity insurance
What is a Flexible Spending Account (FSA)?
An FSA allows employees to set aside pre-tax money for medical expenses.
What happens to unused FSA funds?
Most FSAs follow the use-it-or-lose-it rule, though some plans allow a limited rollover.
Disclaimer
This information is provided for general educational purposes and should not be considered legal, tax, or compliance advice. Employers should consult with qualified professionals regarding their specific compliance obligations.