Group Health Saving Solutions
Help employees save more by offering cost-saving solutions.
Your employee benefits plan is one of your organization’s top expenses. Make healthcare more affordable for you and your employees by offering group health saving solutions. Improving the health and financial well-being of employees is not only good for your workforce but also good for your business.
Help employees save and pay for healthcare:
There is no one-size-fits-all when it comes to group benefits and that’s just as true for the type of savings account to offer. Through our relationships with carriers, we’re able to offer customized group health saving solutions for you to pass on to your employees. Group health saving solutions can be mutually beneficial to both employers and employees.
Health Savings Account (HSA)
A Health Savings Account (HSA) is a tax-deductible savings account that is used to help save for and cover qualified healthcare expenses and prescriptions. This account works much like a bank account – but specific to healthcare expenses. It’s owned by the member and the funds remain with that member. Unused amounts may be rolled over to be used in subsequent years. The IRS sets the maximum amount that can be funded- and this is for qualified high deductible plans only.
Health Reimbursement Account (HRA)
A Health Reimbursement Account (HRA) is intended to help control health care costs for the employer while maintaining rich benefits for the employees. Employers allocate a set dollar amount for employee medical expenses, up to a fixed dollar amount per year, and employees pay for health care expenses with tax-free, employer-provided funds.
Flexible Spending Account (FSA)
A Flexible Spending Account (FSA) is an arrangement that employees set up with their employers, allowing them to set aside pre-tax money to pay for various kinds of expenses, like medical expenses or child care.
When you collaborate with us, we start by gaining a deep understanding of your priorities. Then, we work together to create a forward-thinking strategy that is scoped, scaled and tailored to meet your unique needs. The result is a plan that’s built to adapt and evolve with changes within your workforce, and designed to help you:
- Manage costs
- Ensure regulatory compliance
- Enhance employee engagement
- Increase job satisfaction