Consumer-driven health care

Posted August 13th, 2020 in Employers, Producers

Technology has influenced employee behavior and changed expectations. They are no longer comparing good and services, but instead experiences. As a result, they are demanding innovation, engagement, and personalization across every aspect of thier lives, including healthcare.

Posted July 30th, 2020 in Employers, Producers

Do you remember the days when employers could change from a $500 deductible plan to a $5,000 deductible plan and save 40-50% on insurance premiums? Then those same employers would offer a Health Reimbursement Arrangement (HRA) to cover most or all the deductible increase for employees who have chronic conditions or who experience unexpected medical events. The net result provided employers with significant savings while providing employees with substantially similar benefits. Those days still exist.

Posted July 14th, 2020 in Producers

As healthcare costs continue to rise, consumers are becoming increasingly responsible for out-of-pocket expenses, regardless of their health plan type. By pairing every health plan with a consumer-driven account, your clients will not only save money but also provide their employees with a better way to manage their healthcare spending.

Posted January 21st, 2020 in Employers

Consumer-Driven Health Plans (CHDPs) have been steadily gaining in popularity for several years now. According to the Society for Human Resource Management (SHRM) 2018 Annual Benefits Report, 40% of the employers surveyed now offer a CDHP to their employees. SHRM defines a CDHP as a Health Reimbursement Arrangement (HRA) or a Health Savings Account (HSA) paired with any underlying medical plan.

Posted October 4th, 2018 in Employers, Producers

Consumer-Driven Health Plans (CHDPs) have been steadily gaining in popularity for several years now. According to the Society for Human Resource Management (SHRM) 2018 Annual Benefits Report, 40% of the employers surveyed now offer a CDHP to their employees. SHRM defines a CDHP as a Health Reimbursement Arrangement (HRA) or a Health Savings Account (HSA) paired with any underlying medical plan.

Posted January 30th, 2015 in Producers
Flexible Benefit Service Corporation (Flex) promotes tax-advantaged benefits with pride. As the industry shifts more responsibilities to the individual, a constant driver of ours has been to focus on cost-effective health care solutions. In fact, this is not a new thing for us. Flex pioneered this approach with the initial launch of Medical Savings Accounts (MSAs) in 1997 and continued with Health Savings Accounts (HSAs) in 2004.
 
Posted June 6th, 2014 in Employers, Producers

A recent analysis predicts that 50 million Americans will be covered by Health Savings Account (HSA)-qualified health plans by Jan. 1, 2019up from approximately 11 million today. With the creation of private exchanges spurred on by the Affordable Care Act (ACA), these consumer-driven health plans have been revealed as a crowd favorite.

Posted May 2nd, 2014 in Producers, Employers, Individuals

How do the annual maximum Health Savings Account (HSA) contribution limits apply to an eligible individual with family High-Deductible Health Plan (HDHP) coverage for the entire year if the family HDHP covers spouses or dependent children who also have coverage by a non-HDHP (e.g. Medicare, Medicaid, HMO)?

Posted April 25th, 2014 in Producers, Employers, Individuals

On April 23, 2014, the following limits were released by the Internal Revenue Service (IRS) under Revenue Procedure 2014-30 for Health Savings Accounts (HSAs) in 2015.

These limits are updated annually and reflect cost-of-living adjustments.

HSA contribution limits

$3,350 for individual coverage (increased $50 from 2014)

$6,650 for family coverage (increased $100 from 2014)

Posted March 21st, 2014 in Producers, Employers, Individuals

Let José walk you through what a Health Savings Account (HSA) is.

This high-level overview shows some things that HSA money can be used for along with maximum contributions for 2014.

Click through the slides below for the details and feel free to share with a friend.

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