The IRS has released the 2023 maximum contribution amounts for health savings accounts and flexible spending accounts. You’ll want to make note of the changes when discussing your employee benefits during annual open enrollment. The changes, which the IRS releases in November each year, will affect contribution limits for HSAs, FSAs and 401(k) and other…
Commercial insurance companies are raising rates in most of their lines to account for increasing claims as well as the cost of claims, but another factor is forcing them to increase their rates further: reinsurance. When insurance companies underwrite policies, they will often not retain all of the risk. They will purchase reinsurance, which kicks…
InterWest Gives Back to St. Jude! With participation from every InterWest office, the Companywide InterWest Gives Back campaign raised more than $16,000 dollars for St. Jude Children’s Research Hospital. Thank you to everyone who participated & helped to raise funds to support St. Jude in their mission to end childhood cancer.
First came the Great Resignation during the second year of the pandemic as people left their old jobs in droves to find greener pastures elsewhere. To some extent, that’s still going on, but there is a new breed of employee who, for whatever reason, has decided to “quietly quit” their jobs. But they aren’t actually…
InterWest announces 2022 Distinguished Employee Award Winners! The following employees were identified by their co-workers as having demonstrated an extraordinary commitment to their clients, teammates as well as their community. This partnership between work and giving back makes them stand out for their invaluable contributions. Alexis Lewis Receptionist / Human Resource Administrative Assistant Administration Sacramento…
Despite the Workers’ Compensation Insurance Rating Bureau recommending that benchmark rates in California be increased in the last two years, the rates that insurance companies are charging for coverage continue falling. But the party may soon be coming to an end, according to a new report. The California Department of Insurance in fact rejected the…
One of the most difficult aspects of annual open enrollment is reaching workers who are disengaged from the process and never bother signing up for your group health plan and other benefits they could take advantage of. While employers shoot for maximum employee enrollment, there are always those employees who for a multitude of reasons…
A new law will require almost all contractors in California to carry workers’ compensation coverage, regardless of if they have employees or not. According to the author of the bill, State Sen. Bill Dodd, D-Napa, the new law was necessary due to the tendency of many small contractors to claim they have no employees, when…
InterWest’s Distinguished Employee: Monica Scott Monica is friendly, patient, persistent and always willing to work with new employees to share her expansive knowledge about markets and underwriters, which make their jobs easier. She has been successful in placing accounts that were being non-renewed due to wildfire hazard with other standard markets. She’s persistent with carriers…
By now you will know about the rapid uptake in telemedicine after the COVID-19 pandemic drove patients to use virtual appointments with their doctors. While this form of medicine seems like it’s here to stay, there are other technologies that employers can look to include in their group health plans to help employees get the…