You Have Options
With today’s emphasis on consumer driven healthcare, many employers are moving to High Deductible Health Plans (HDHP) to save premiums and encourage employees to be more judicious about how they appropriate their healthcare.
Having determined that a HDHP is the right choice, employers are faced with the question of how to help their employees be the most efficient with their out-of-pocket costs. Many employers look to Health Savings Accounts (HSA) to help offset these expenses. However, Health Savings Accounts (HSA’s) are not the only option available to coordinate with their HDHP programs.
Primary options include the HRA (Health Reimbursement Account), HSA (Health Savings Account), or the FSA (Flexible Spending Account). While every circumstance cannot be illustrated in a brief of this nature, we encourage you to review the attached flowchart which outlines a basic decision tree that can guide your decision as to which plan might be best for your company’s needs.