Navigation Links
Zane Benefits Publishes New Information on Defined Contribution Health Plans
Date:5/12/2013

Park City, UT (PRWEB) May 12, 2013

Today, Zane Benefits, Inc. published new information on defined contribution health plans. Zane Benefits, which provides comprehensive and flexible alternatives to traditional employer sponsored health benefits, is the leader in health care reform, defined contribution and health reimbursement arrangements.

According to Zane Benefits’ website, businesses have relied on group health insurance to offer employee health benefits. However with continual renewal increases and new ObamaCare regulations, businesses of all sizes are looking at new options for offering employee health benefits. Because of these factors, many business owners are adopting a new strategy -- defined contribution health plans.

Defined Contribution Health Plans

According to Zane Benefits’ website, defined contribution plans are set up with a Stand-Alone Health Reimbursement Arrangement, or HRA. This is also referred to as a Section 105 HRA Plan. The stand-alone HRA allows any business or non-profit to reimburse employees for their health insurance and/or eligible medical expenses on a tax-free basis.

With defined contribution, the business provides employees with a monthly allowance. Employees shop and purchase their own individual/family coverage through a broker or through their state health insurance exchange. Employees are reimbursed tax-free up to the amount of their monthly allowance.

In other words, a defined contribution health plan acts like a business expense account specifically for health insurance premiums and health care.

How to Lower Health Benefits Costs with Defined Contribution

According to Zane Benefits’ website, lowering health benefits costs with defined contribution is simple: a business determines their budget for health benefits and builds the defined contribution health plan from there. In other words, because there are no minimum or maximum contribution amounts the cost of defined contribution is entirely controlled by the business.

Similar to a 401(k) retirement plan, a defined contribution health plan must include all legal documentation to ensure compliance with applicable regulations. Because of this, nearly all businesses use a defined contribution software or administrator. The administration platform needs to be an IRS, ERISA, ACA and HIPAA-compliant platform that includes electronic plan document creation and employee election processes.

Click here to read full article.

--

About Zane Benefits
Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHRA") for Health Reimbursement Arrangements (HRAs) and defined contribution health care. The flagship software provides a 100% paperless administration experience to employers and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about ZaneHRA, visit http://www.zanebenefits.com.

Read the full story at http://www.prweb.com/releases/2013/5/prweb10723050.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Benefits of Natural & Organic Bedding Discussed in Latest Article from The Sleepy Shopper
2. Zane Benefits Publishes New Information on the New Jersey Health Insurance Exchange
3. Altec Joins Sage Customer Symposiums in the North East to Present the Benefits of Integrated Document Management
4. Zane Benefits Publishes New Information on Defined Contribution Health Plans
5. Zane Benefits Publishes New Guide on Stand-Alone Health Reimbursement Accounts
6. Zane Benefits Publishes New Guide on Stand-Alone HRA Plans
7. Zane Benefits Publishes New Information on Health Care Reform for Small Businesses
8. Zane Benefits Publishes New Information on the Michigan Health Insurance Exchange
9. Impact with Martin Sheen Exploring the Benefits of Electronic Medical Records in New Report
10. Mediterranean Diet Benefits Heart, Even Without Weight Loss: Study
11. Royal Flush Havanese Reviews The Benefits Of Dog Ownership
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/12/2017)... ... October 12, 2017 , ... First Healthcare Compliance (FHC), an ... showcase a range of technology and learning solutions at the 68th Annual American ... to be held October 14–18, 2017 at the Mandalay Bay Resort in Las ...
(Date:10/12/2017)... ... October 12, 2017 , ... IsoComforter, Inc. ( https://isocomforter.com ... the introduction of an innovative new design of the shoulder pad. The shoulder ... maximum comfort while controlling your pain while using cold therapy. By utilizing ice and ...
(Date:10/12/2017)... ... October 12, 2017 , ... Dr. Parsa Mohebi, the ... medical article to the newly revamped Cosmetic Town journal section, featuring ... transplant procedure known as Follicular Unit Extraction (FUE). , Dr. Mohebi ...
(Date:10/12/2017)... ... October 12, 2017 , ... Women-owned and Grand Rapids-based workplace ... Brightest in Wellness® by Best and Brightest. OnSite Wellness will be honored at ... from 7:30 a.m. to 2 p.m. at the Henry Autograph Collection Hotel, located ...
(Date:10/12/2017)... ... October 12, 2017 , ... Farm ... California Berkeley, and other leading institutions in announcing the launch of the ... change the way animals are raised for food. , Founding members of the ...
Breaking Medicine News(10 mins):
(Date:10/11/2017)... -- Caris Life Sciences ® , a leading innovator in ... medicine, today announced that St. Jude Medical Center,s Crosson ... as its 17 th member. Through participation with ... Institute will help develop standards of care and best ... cancer treatment more precise and effective. ...
(Date:10/11/2017)... , Oct. 11, 2017  Hill-Rom Holdings, Inc. ("Hill-Rom") ... Surgical facility in Las Piedras, Puerto Rico ... and blades. ... the facility sustained minor structural damage, temporary loss of ... Repairs have been completed, manufacturing operations have resumed, and ...
(Date:10/10/2017)... Oct. 10, 2017   West Pharmaceutical Services, Inc. ... for injectable drug administration, today shared the results of ... for improving the intradermal administration of polio vaccines. The ... Summit in May 2017 by Dr. Ondrej Mach ... World Health Organization (WHO), and recently published in the ...
Breaking Medicine Technology: