Navigation Links
Zane Benefits Publishes 5-Step Defined Contribution Evaluation

(PRWEB) December 12, 2012

Zane Benefits, the leader in Defined Contribution and Health Reimbursement Arrangement (HRA) solutions for business health benefits, today published an article for businesses exploring Defined Contribution as an option for employee health benefits.

We've all heard the buzz and read the statistics. Businesses across America are canceling traditional group health plans at a staggering rate. Many more businesses have never offered health insurance to begin with, due to high costs and minimum participation requirements. The vast majority of these organizations are looking to defined contribution healthcare plans as an affordable alternative.

How Defined Contribution Health Insurance Works
With Defined Contribution, employers have more control and employees have more choice. Instead of an employer paying for a defined benefit such as a group health plan, they fix their costs by establishing a defined contribution.

The employer determines how much their contribution will be, and what expenses are eligible. Expenses can range from health insurance premiums, doctor visits, prescription drugs, and much more. Most employers cover a wide range of expenses to make their defined contribution healthcare plan a full health benefit package. Other employers use defined contribution healthcare to supplement existing benefits packages, or to reimburse for dental or vision coverage.

Employees like defined contribution healthcare plans because they are able to choose an individual health insurance plan that suits their needs. Once a qualified premium or expense is incurred, the employee simply submits his or her receipts (using third party HRA software) for reimbursement. Because these expenses are reimbursed tax-free, the employer and employees can save up to 50% combined in taxes.

How to Determine if Defined Contribution Healthcare is Right for a Business
By completing a Defined Contribution Readiness Worksheet, an employer will be better prepared to discuss moving to such a plan with a broker. Here are some key questions that every organization must answer in order to determine if they are ready for a defined contribution healthcare plan:

1. Does the organization have 1 or more employees?

2. Has the organization offered several plan options for employees in the past?

3. In past years, has the employer passed health care coverage expenses on to employees?

4. Is it important for the employer to maintain a consistent contribution amount and allow your employees the option to buy up for the coverage they want?

5. Is the organization looking for a solution that can be more automated to facilitate employee choices?

When "yes" is the answer to these questions, transitioning to a defined contribution may be a good fit for a business. Discuss options with your broker, and make sure to include a talk with a defined contribution administrator who can explain how a defined contribution healthcare plan could work for a business today – or what businesses can do today to get ready for a defined contribution solution.

  • - -
About Zane Benefits, Inc.
Zane Benefits, Inc, a software company, helps insurance brokers, accountants, and employers take advantage of new defined contribution health benefits and private exchanges via its proprietary SaaS online health benefits software. Zane Benefits does not sell insurance. Using Zane’s platform, insurance professionals and accountants offer their clients a defined contribution plan with multiple individual health insurance options via a private health exchange of their choice.

Read the full story at

Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Why Health Insurance Brokers Need An HRA Administration Partner: Zane Benefits Publishes Info
2. Zane Benefits Publishes Health Care Reform Implementation FAQs
3. Probiotic Action Responds to an Article Discussing the Health Benefits of Probiotics
4. HRAs vs. GAP Health: Zane Benefits Publishes Information
5. Penalties for Individuals Not Purchasing Health Insurance in 2014 - Zane Benefits Publishes Information
6. ISA Surgical Publishes Real Stories of the Benefits of Medical Tourism In Mexico From US And Canadian Patients
7. Defined Contribution: A Healthcare Win for Brokers, Employers & Employees - Zane Benefits Publishes Information
8. Dec. 12 Atlantic Information Services Webinar to Address the Nuances of New HHS Essential Health Benefits Regulations
9. Zane Benefits Publishes Information About Over-the-Counter (OTC) Medicines, Drugs and HRAs
10. Using an HRA to Comply with San Francisco's HCSO Requirements - Zane Benefits Publishes Information
11. New study review examines benefits of music therapy for surgery patients
Post Your Comments:
(Date:12/1/2015)... ... December 01, 2015 , ... ... is everything. That is why Hollister Incorporated has launched the VaPro Plus Pocket™ ... next product in the VaPro touch free catheter portfolio,” said Michael Gresavage, Vice ...
(Date:12/1/2015)... ... 01, 2015 , ... McLean, VA., December 1, 2015 - ... per sprint agile development contract to support the National Geospatial-Intelligence Agency's (NGA) IT ... software engineering, infrastructure, as well as operations and sustainment support to the NGA’s ...
(Date:12/1/2015)... ... ... XTC Semifinals 2016 - CES, Las Vegas, Nevada - Extreme ... 2016, the world’s largest Consumer Electronic Show, where they will present to a panel ... Pacific Investments Veronica Serra, and venture capitalist Tim Draper among many other top names ...
(Date:12/1/2015)... Beverly Hills, CA (PRWEB) , ... December 01, ... ... honored by Modern Luxury’s Angeleno Magazine as a Modern Man for 2015. ... luxury lifestyle publisher in the United States. Established in 1994, Modern Luxury includes ...
(Date:11/30/2015)... ... November 30, 2015 , ... ... Brooke Bennett are collaborating with brands across various categories through traditional and social ... make up an elite group of Gold Medal Moms who can connect with ...
Breaking Medicine News(10 mins):
(Date:12/1/2015)... TELTOW, Germany , December 1, 2015 ... a leading global manufacturer of eye and gaze tracking ... included SMI remote eye trackers as a component of ... assess concussions, eye sight, and medical and performance issues ... is part of SMI,s mass-market-ready eye tracking platform, which ...
(Date:12/1/2015)... , Dec. 1, 2015  Lexicon ... today that top-line data from its TELECAST ... etiprate in treating carcinoid syndrome in cancer ... the clinical benefit observed in its pivotal ... as a companion to TELESTAR primarily to ...
(Date:12/1/2015)... Dec. 1, 2015  ImmunoCellular Therapeutics, Ltd. ... Andrew Gengos , President and Chief Executive ... December 3, 2015. Mr. Gengos plans to ... program in patients with newly diagnosed glioblastoma ... TIME:    12:15p.m. ET/9:15a.m. PT LINK: ...
Breaking Medicine Technology: