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Lower Florida Group Health Insurance Costs

Moving from a lower deductible to a higher deductible will bring down the cost of health insurance. However, you might have an employee mutiny on your hands. This is where the Health Reimbursement Arrangement – HRA comes in. With an HRA you put money into a spending account for the employee. They use this money to pay for medical expenses, voluntary health insurance, etc. This is entirely employer funded and the unspent money is carried over and not lost. The funds belong to the employer and not the employee. The plan is usually set up to reimburse for medical expenses associated with a health plan like doctors visits, prescriptions, etc. The plan can be designed to reimburse for other expenses such as vision tests, dental, orthodontics, and much more.

The great part about these plans is that you design them. You control of how you want the plan to perform. First of all, you decide what you want to cover and how much you will pay out. Second, you are not pre-funding an account where unused money goes to the employee. Third, you can use a higher deductible health insurance plan. Finally, the employee will feel secure with the higher deductible plan knowing that there is some assistance for routine medical expenses.

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This entry was posted on Thursday, August 18th, 2011 at 4:12 am and is filed under Florida Group Health Insurance, Florida Health Insurance, Florida Medicare, Group Health Insurance, Health Insurance, Health Insurance Blogs, Illinois Health Inssurance News, Life Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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