Consumer-Driven Health Care Plans

Consumer-Driven Health Care Plans

Employers are all looking for ways to reduce the costs associated with health insurance. One such approach, which is increasingly gaining in popularity, is a consumer-driven healthcare plan. These health plans typically come with a high deductible but are more affordable than traditional group health plans.

The group benefits staff at Evans, Pires & Leonard can help you evaluate whether consumer-driven health care plans are right for your organization.

The philosophy behind this type of plan is to encourage policyholders to be more active in healthcare decision-making by giving them more of the financial responsibility for treatment options. Plans are usually associated with employee savings accounts that are dedicated solely for medical costs.

A health savings account (HSA) is one funding mechanism that can be paid for by the employee using pre-tax income. As an employer, you can supplement the HSA if you choose, but it belongs to the employee and can be carried to another job if the employee leaves your company.

Other savings options include a health reimbursement account (HRA), which is established and funded by the employer, and a flexible savings account (FSA), which is similar to an HSA but can be used with a traditional group health insurance plan as well. Funds in an FSA cannot be rolled over either to another employer or to another plan year. If they aren’t used, they are lost to the employee. Our specialists will help you examine the alternatives available to you.

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    Drive down costs while continuing to provide health coverage.

    With Evans, Pires & Leonard, you’re not a policy to us. We create a relationship with our customers through earned trust, integrity, experience, and knowledge. Give us a call at 860.289.6816 or email us, or if you prefer fill out and return the convenient form on this page. One of our professionals will contact you to discuss your insurance needs and our alternative solutions in helping to protect you. Since 1967, we have been serving the communities from Tolland to Glastonbury to Portland and Old Saybrook.