Navigation Links
Zane Benefits Publishes New Information on How to Setup a Defined Contribution Plan
Date:10/21/2013

Park City, Utah (PRWEB) October 21, 2013

Today, Zane Benefits, the number one online small business health benefits solution, published new information on how to setup a defined contribution plan.

According to Zane Benefits’ website, pure defined contribution health plans are quickly becoming the future of small business health insurance.

A pure defined contribution health plan is where the business provides a fixed healthcare allowance that employees can spend on personal health insurance policies.

The shift from employer sponsored plans to defined contribution health plans is similar to the shift in retirement savings from pensions to 401Ks. After realizing the savings associated with moving away from defined benefit retirement plans, many businesses are also applying this model to their healthcare benefit programs.

With a pure defined contribution health plan, employees purchase health insurance and then submit documentation for tax-free reimbursement in accordance with the rules of the specific plan document. This type of medical reimbursement plan is governed by IRS Code Section 105, and is sometimes referred to as a Section 105 Plan.

According to Zane Benefits’ website, to set up a defined contribution health plan, employers should utilize a formalized plan to ensure compliance with the ACA, the IRS, HIPAA, and ERISA. Because of new ACA reforms, most companies will use a limited purpose Section 105 medical reimbursement plan, such as a limited Healthcare Reimbursement Plan, as the foundation of their defined contribution health plan.

And because of the HIPAA and compliance considerations, virtually all companies use a third-party to handle verification of medical expenses and/or reimbursement to employees.

Zane Benefits outlines the four steps small businesses take to set up a Pure Defined Contribution Health Plan.

Click here to read the full article.

--

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

Read the full story at http://www.prweb.com/releases/2013/10/prweb11243393.htm.


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

Related medicine news :

1. Zane Benefits Publishes New Information On Employee Retention With Millennials
2. Zane Benefits Publishes New Information on Employers of Choice
3. Zane Benefits Publishes New Information on New Guidance and HRPs
4. Finally, A Big Company Benefits Administration Solution For Every Company
5. Examining the Benefits of an International Breast Registry
6. Deepak Chopra Introduces Dream Weaver App for Smartphones with Strobe Lights, Making It Easy to Experience the Benefits of Meditation & Deep Relaxation Automatically
7. iconpractice Brings Cloud Computing Benefits to Chiropractic Practice Management Software
8. Pacific Prime Clients with Aetna to See Improved Medical Insurance Benefits
9. Zane Benefits Publishes New Information on COBRA vs Health Insurance Marketplaces
10. Taunton Social Security Disability Attorneys Help Taunton, MA Man Receive Over $17,000 in Past Due Social Security Disability Benefits
11. Austin Chiropractor, Dr. Julia Pinkerton Addresses Benefits of Chiropractic Care for Pregnant Woman in New Blog
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... 2016 , ... TherapySites, the leading website and ... Tennessee Counseling Association. This new relationship allows TherapySites to continue to extend ... exclusive benefits and promotional offers. , "TCA is extremely excited about this new ...
(Date:6/26/2016)... ... 2016 , ... On June 10-11, 2016, A Forever Recovery, a holistic treatment ... Longest Breakfast Table in Battle Creek, MI, where the rehabilitation facility is located. This ... of the world’s leading providers of cereal and other breakfast foods. Its residents often ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... ... health policy issues and applications at AcademyHealth’s Annual Research Meeting June 26-28, 2016, ... work on several important health care topics including advance care planning, healthcare costs ...
(Date:6/25/2016)... ... 2016 , ... As a lifelong Southern Californian, Dr. Omkar Marathe earned his ... David Geffen School of Medicine at UCLA. He trained in Internal Medicine at Scripps ... in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where he had the opportunity to ...
(Date:6/24/2016)... Marne, Michigan (PRWEB) , ... June 24, 2016 , ... ... To deal with these feelings, many turn to unhealthy avenues, such as drug or ... Center of Marne, Michigan, has released tools for healthy coping following a traumatic event. ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... 23, 2016 Roche (SIX: RO, ROG; OTCQX: ... its Elecsys BRAHMS PCT (procalcitonin) assay as a dedicated ... shock. With this clearance, Roche is the first IVD ... solution for sepsis risk assessment and management. ... and PCT levels in blood can aid clinicians in ...
(Date:6/23/2016)... , June 23, 2016 ... CAPR ), a biotechnology company focused on ... today announced that patient enrollment in its ongoing ... Duchenne) has exceeded 50% of its 24-patient target. ... in the third quarter of 2016, and to ...
(Date:6/23/2016)... , June 23, 2016 Bracket , a ... its next generation clinical outcomes platform, Bracket eCOA (SM) ... on June 26 – 30, 2016 in Philadelphia ... electronic Clinical Outcome Assessment product of its kind to fully ... Bracket eCOA 6.0 is a flexible platform for ...
Breaking Medicine Technology: