Take a tour of benefit designs that can help you and your employees find more affordable coverage.
Health Savings Accounts (HSAs)
Health Savings Accounts, paired with a high-deductible health plan, can give eligible employees a way to save and pay for health-related expenses, while taking advantage of tax incentives.
With an HSA, you often pay a lower premium and save on taxes:
- Contributions to the account are tax-deductible.
- Earnings on investments are tax-free.
- Withdrawals made for qualified medical expenses are tax-free.
Download our HSA Guide
Health Reimbursement Accounts (HRAs)
Health Reimbursement Accounts are employer-funded accounts that work much like HSAs. HRAs generally help lower deductible amounts paid out of employees’ pockets.
Since HRAs are employer-funded, the benefit generally starts over from year to year and employees don’t have the option to contribute to their accounts.
Offering a cafeteria plan to your employees allows them to purchase customized benefits. With a cafeteria plan, employees choose different types of benefits – such as health insurance, group term life insurance, or flexible spending accounts
Section 125 Flex Plan
A flexible spending account (FSA) is a type of account that is typically set up through a cafeteria plan. An FSA allows an employee to set aside a part of their paycheck for qualified expenses, such as medical expenses and dependent care.
Nearly half of all small businesses don’t meet the requirements or don’t have the funds for a group health plan.
But you can still make health insurance available to your employees. Our partner company, America’s Healthplan Consultants, can provide individual health insurance options and assistance to your employees.