You’re likely paying your own health insurance premiums each month, but should you also cover your service workers’ premiums?
a photograph A restaurant bill with a 4% service charge added to cover “employee health insurance” recently went viral on X (formerly Twitter), prompting social media users to wonder what they would charge customers for. is fair.
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“This is ridiculous” some people Posted on Reddit. Other online commentators called on restaurateurs to make changes. “Please increase the price by 4%. They are either trying to make a political statement or they are basically doing price fraud,” another person posted.
Whether or not you believe health insurance premiums are justified, one indisputable issue is that medical bills are a significant expense. Here, we detail the story behind this viral post and what you can do to offset your own medical bills.
Surcharge is nothing new
These types of surcharges are not new and are not likely to go away. In fact, 15% of his restaurateurs plan to add surcharges or fees to customers’ checks to deal with rising food, supply and labor costs. According to the survey results, Recent research By the American Restaurant Association.
Diners have also experienced other surprising surcharges, such as general service and tap water. In addition, the suggested tip, called “”, tends to be higher.chip inflation“
In response to the overwhelming backlash against the surcharge practice, Los Angeles-based restaurant owner Zach Pollack said: Instagram. Pollack said the business was “specialized” and that due to the Affordable Care Act, “there are dozens, if not hundreds, of restaurants in Los Angeles that have introduced similar surcharges.” Told.
Under the Affordable Care Act, small businesses with 50 or more full-time equivalent employees are required to provide their employees with a minimum amount of health insurance.
But that compensation is expensive. On average, a US household spends 8.1% of her annual income on health care. latest data According to the Bureau of Labor Statistics. Health care is a huge expense for Americans, so it’s no surprise that some are looking for creative ways to cover it. While there may not be an immediate way to pay for medical bills for free, here are some ways to ease the burden.
read more: More than 65% of Americans don’t hunt around for anything. better auto insurance policy — and can cost $500 a year
Keep money in a health-focused savings account
Emergencies do happen. That’s why building a dedicated savings fund to cover health and medical expenses, no matter how small the contribution, can help.a Health Savings Account (HSA)When combined with a highly deductible health insurance plan, you can set aside tax-free money to pay for medical expenses. Investing your money in the market usually allows you to increase your savings at a nominal rate of return.
Funds from this account can be used to pay for health-related expenses, from health insurance deductions and doctor’s office copays to prescriptions and over-the-counter sunscreens.
The biggest advantage of HSA over traditional savings accounts is that deposits, earnings and withdrawals for medical expenses are tax-free.
Buy private health insurance deals regularly
As with other types of services and insurance plans, such as wireless carriers and car insurance, you may be able to: get better deals — As long as you’re willing to shop. If you have health insurance provided by your employer and would prefer it, the plans you can choose from are limited and subject to change only during the specified period of coverage.
However, if you choose to purchase private medical insurance, you should regularly check with competing insurers to see if they are more affordable. Similarly, there may be plans that offer expanded benefits or a wider network for the same price you’re paying today. If you find a better deal, be sure to read the fine print to make sure your long-term savings justify switching.
maintain healthy habits
Practicing healthy habits is not only good for you, but it can also help reduce potential medical costs such as expensive tests and treatments. For example, exercising regularly and maintaining a nutritious diet can help reduce the risk of developing health-related complications.
While healthy habits don’t completely avoid health care costs, getting regular exercise early in or in middle age can save you $824 to $1,874 a year in health care costs in retirement. 2021 Survey found. Likewise, making the most of your existing health insurance benefits and getting an annual checkup to discuss your health and concerns early and often can also help you avoid unexpected medical bills. help.
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This article is for information only and should not be construed as advice. It is provided without warranty of any kind.
