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Zane Benefits Publishes New Information on Defined Contribution Health Plans

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.

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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

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