Providing Value with Health Spending Accounts

At one time, Doc Crookshank peddled his snake oil liniment and miracle cure-all elixirs from his horse-drawn wagon. He and his old-timey Travelling Medicine Show enjoyed their time in history. Much like traditional health benefit plans. 

Don't get us wrong, we have nothing against insured health benefit programs. They work for some companies and we're happy to sell them...when they're the right fit. However, generally speaking, we think - actually we know - Health Spending Accounts provide more value to both Plan Sponsors and Plan Members.

Don't believe us? Here are our top 3 reasons:

1. Tax-Friendly

HSAs and related fees are 100% tax-deductible for the Plan Sponsor company. 

There are no complex considerations as to whether payroll deductions are required because HSAs are 100% tax-free for employee Plan Members.

2. Budget Friendly

Cost control - BOOM! 

Unlike traditional health benefits, there are no nasty surprises at renewal time. Plan sponsors decide on the budget. Check out our other article on how you can set your budget.

3. Flexibility

We've said it before and will scream it off the rooftop again and again until people get it! Okay maybe we won't actually scream it but we won't be shy about telling anyone who will listen. The only limitation on reimbursements is the amount available in the account. There are no restrictions on the number of chiropractor visits and no co-pays or deductibles. 

As long as an expense is eligible, and the Member has funds available, we'll reimburse it - simple.

Just think about it - it's all we ask

Can't be talked out of traditional health benefits? Consider adjusting your coverage on your traditional plan and blending it with an HSA. Your existing and prospective employees will appreciate it. They can use it for deductibles, co-pays, and things not covered because of Plan limits. 

You might also consider self-insuring through our Enhanced Health Blends program. You still maintain cost control, avoid costly renewals and you design the plan for your team's benefit - not the insurance company's.

Talk to your Financial Advisor today about modernizing your benefit plans. Don't have an Advisor, we can find you one

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