To save on group health care coverage costs, many employers consider investing in consumer-driven health plans (CDHP’s). We offer a variety of health spending accounts, including:

Flexible Spending Accounts (FSAs)— An employer can greatly benefit from the savings in payroll and FICA taxes, many times covering the expense of the plan itself. Through flexible spending accounts, employees set aside pre-tax dollars for healthcare, and dependent care expenses that are not covered by health insurance plans (deductibles, co-payments, etc.).

Health Reimbursement Arrangements (HRA) (aka Personal Care Accounts or PCAs)— Employers save by paying a lower premium for a higher deductible policy. Also, HRAs enable employers to make defined contribution to the funding of healthcare. The employer’s annual contribution to the HRA is often set at about one-half of the higher deductible. The employee will pay out-of-pocket, making them a careful consumer of medical services.

Health Savings Accounts (HSAs)—Groups HSAs are designed for those already covered by a high-deductible health insurance, such as a PPO. Employers are entitled to deduct the sum of employees’ high-deductible insurance premiums as a business expense. Corporate tax, as well as income tax, can be reduced by contributions into an HSA. Due to non-discrimination rules for HSA contributions, any corporation with many employees sets a practical limit on contributions to all its employees.

PPO Plan with benefit allowance — PPO plans are the solution for businesses to fulfill their requirements for HSAs. A PPO plan offers basic health insurance coverage.

Employees may be eligible for in-network expenses:

Physicians services (ex. office visits)
Routine outpatient laboratory tests and X-rays
Hospital services, emergency room services, and outpatient surgery
Annual exams and other preventative care services, including home health care; physical, speech and hearing therapy; and hospice.