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:6/25/2016)... ... ... Austin residents seeking Mohs surgery services, can now turn to Dr. Jessica ... Peckham for medical and surgical dermatology. , Dr. Dorsey brings specialization to include Mohs ... Mohs Micrographic Surgery completed by Dr. Dorsey was under the direction of Glenn Goldstein, ...
(Date:6/25/2016)... ... ... First Choice Emergency Room , the largest network of independent freestanding emergency ... its new Mesquite-Samuell Farm facility. , “We are pleased to announce Dr. Ogunleye ... M. Muzzarelli, Executive Medical Director of First Choice Emergency Room. , Dr. Ogunleye ...
(Date:6/25/2016)... ... 25, 2016 , ... On Friday, June 10, Van Mitchell, Secretary of the ... to iHire in recognition of their exemplary accomplishments in worksite health promotion. , The ... Health & Wellness Symposium at the BWI Marriott in Linthicum Heights. iHire was one ...
(Date:6/24/2016)... ... June 24, 2016 , ... Those who have experienced traumatic events may suffer ... unhealthy avenues, such as drug or alcohol abuse, as a coping mechanism. To avoid ... healthy coping following a traumatic event. , Trauma sufferers tend to feel a range ...
(Date:6/24/2016)... ... June 24, 2016 , ... The Pulmonary ... Dallas that it will receive two significant new grants to support its work ... marked its 25th anniversary by recognizing patients, medical professionals and scientists for their ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... , June 24, 2016  Collagen Matrix, ... design, development and manufacturing of collagen and mineral ... announced today that Bill Messer has ... Marketing to further leverage the growing portfolio of ... devices. Bill joins the Collagen Matrix ...
(Date:6/24/2016)... , June 24, 2016 ... of the "Structural Electronics 2015-2025: Applications, Technologies, ... In-Mold Electronics, Smart Skin, ... Photovoltaics Structural electronics involves electronic ... load-bearing, protective structures, replacing dumb structures such as ...
(Date:6/24/2016)... Research and Markets has announced the ... Tests" report to their offering. ... The World Market for Companion Diagnostics covers the ... analysis in the report includes the following: ... Kits) by Region (N. America, EU, ROW), 2015-2020 , ...
Breaking Medicine Technology: