Navigation Links
How To Reduce Cost Without Sacrificing Your Health Coverage
Date:7/16/2009

DETROIT, July 16 /PRNewswire/ -- With health care premiums increasing across the board, many companies are looking for alternative options to decrease spending without losing employee coverage. Now employers have the option to maintain the quality of coverage for their employees and lower their costs by as much as 25% by taking preventive measures through Health Reimbursement Arrangements (HRA).

An HRA is a government-based program created to encourage small businesses to provide benefits to their employees. HRA's are usually offered as part of a consumer-directed health plan, which provides employees with important new benefit options while raising consumer awareness of cost; which then empowers consumers with greater decision-making control over their health spending.

To contain the cost of insurance premiums, The Benefits Group focuses on creative plan design, switching to high deductible health plans (without lowering benefits to employees), which greatly lowers premiums. Due to a climate change in the health insurance industry and a double-digit increase in premiums, many companies have been forced to reduce benefits, shift more costs to employees or drop coverage entirely. "The consumer market has created a demand for affordability and plan options. The popularity of HRA plans are making this possible," says David Bommarito, President of The Benefits Group.

HRA's are open to employees employed by companies of all sizes, unlike some plans. The HRA contributions are an unfunded liability and are only paid if claims rise above a set point and are capped to a known liability and are free from state, federal and FICA taxes.

For example, Net Results Group, Inc., located in Southfield, Michigan, increased their deductible by $1,500. "The premium savings allows the company to fund the increase in deductibles on behalf of their employees without reducing their benefits and still save 18% on their health care budget," says Bommarito. With dental, we are typically able to save about 40% with comparable benefits.

Since 1986, The Benefits Group, located in Rochester Hills, Michigan, has been a full-service employee benefits company providing all aspects of employee benefits; group medical, dental, vision, short and long term disability, 401(k)'s, FSA's, EAP's and more. For more information about The Benefits Group, visit www.healthbrokers.com. For more information on this release contact Marco at Marco@MaverickMediaAgency.com


'/>"/>
SOURCE The Benefits Group
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. 2009 National Ergonomics Conference Schedule Announced, Focus on Productivity & Profitability With Reduced Workforces, All Major Sponsors Renew & New Exhibitors Join the Expo
2. Fractional Eyelift Procedure Reduces Eyelid Drooping and Wrinkles with Minimal Recovery Time
3. Condoms May Reduce Herpes Risk
4. Research identifies successful new treatment for Hodgkins lymphoma, reduces long-term risks
5. Diabetes Advocates Call For National Strategy, Leadership to Reduce Diabetes and Advance Detection and Treatment
6. State privacy rules reduce electronic medical sharing by 24 percent, warns Management Insights
7. Asian spice could reduce breast cancer risk in women exposed to hormone replacement therapy
8. New research to reduce drug side-effects
9. Strength Testing Could Reduce Pitching Injuries
10. Reduced diet thwarts aging, disease in monkeys
11. Migraines Linked to Reduced Breast Cancer Risk
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/12/2016)... Seattle, WA, and Washington, DC (PRWEB) , ... ... ... PATH and the Siemens Foundation today announced a new initiative—the Siemens ... technologies for low-resource settings. The partnership will recruit top students from U.S. ...
(Date:2/12/2016)... ... 12, 2016 , ... Each year, the American Physical Therapy Association (APTA) offers ... the Anaheim Convention Center. Almost 10,000 physical therapists across the country are expected to ... more about their chosen field and network with their colleagues. As in years ...
(Date:2/12/2016)... Appleton, Wis. (PRWEB) , ... February 12, 2016 ... ... its second Lean Leadership Series at Zuckerberg San Francisco General Hospital on April ... to practice new behaviors and create new habits. The workshops cover a broad ...
(Date:2/12/2016)... Washington, NC (PRWEB) , ... February 12, 2016 , ... ... the surrounding areas, is initiating a charity drive that will raise funds earmarked to ... at John C. Tayloe Elementary School. , “My school is in a low-income area ...
(Date:2/12/2016)... (PRWEB) , ... February 12, 2016 , ... ... of the Pittsburgh metro area, celebrates the beginning of the latest charity campaign ... develop social skills through art. Donations to this worthy cause are currently being ...
Breaking Medicine News(10 mins):
(Date:2/12/2016)... 12, 2016  Aralez Pharmaceuticals Inc. (Nasdaq: ARLZ ... Company will ring the Nasdaq Closing Bell at the ... at 4:00 p.m. ET on Tuesday, February ... Adrian Adams , will perform the honorary ... 4:00 p.m. ET.  A live webcast will be available ...
(Date:2/12/2016)... , Feb. 12, 2016  Apellis Pharmaceuticals, ... a $47.1 million Series D preferred stock ... Management, Hillhouse Capital Group and venBio Global ... Investments, AJU IB Investment, and Epidarex Capital. The ... to further advance clinical trials in the ...
(Date:2/11/2016)... 2016 - Cardiac Marker ... Medicine and Cancer Therapy. - European Point of ... Markets. - Key Diagnostic Testing Markets. - ... in Genetic Testing. - Molecular Diagnostics in Infectious ... Over-the-Counter Diagnostic Products World Markets. - Point of ...
Breaking Medicine Technology: