Consumer Driven Plans

Consumer Driven Plans
You can help manage the rising costs of health care through Consumer Driven Health Plans, Health Savings Accounts, High Deductible Health Plans and Flexible Spending Accounts. Adding them to your employee benefits package can:

  • Lower company expenses through the cost sharing of a high-deductible health plan
  • Provide FICA tax savings on reduced salaries as a result of employee contributions to consumer directed plans

Most importantly, your employees receive cost-effective, quality health benefits for themselves and their families.

Flexible Spending Accounts
Flexible Spending Accounts (FSA) allow you and your employees to set aside money on a pre-tax basis to pay for eligible health care and dependent care expenses such as:

  • Deductibles
  • Copayments
  • Prescriptions
  • Vision and dental expenses
  • Child and elder care

By offering Flexible Spending Accounts, you can reduce employer and FICA taxes while participating employees can reduce their taxable wages. That means lower taxes for you, and added benefits for your employees. The more employees enroll, the more you save on payroll taxes.

High Deductible Health Plans
A High Deductible Health Plan (HDHP) can be a cost-efficient way to provide health benefits to your employees. An HDHP is a health benefit plan that charges a lower premium and has a higher deductible than traditional health benefit plans. It is usually paired with a Health Savings Account (HSA) to provide maximum benefits at the lowest cost. 

By combining an HDHP with an HSA, your employees receive quality coverage as well as the opportunity to set aside tax-free money for current year health expenses and build savings for future medical expenses.

Health Savings Accounts 
Health Savings Accounts (HSA) are integrated with High Deductible Health Plans (HDHP). An HSA is a unique, tax-advantaged account—money goes in tax free, earns interest tax free and is not taxed upon withdrawal to pay for qualified medical expenses. You, your employees, or even an employee’s family member may make contributions to the HSA.