EPO plans are more restrictive in this Job Function Email List respect, but are also able to negotiate lower fees by guaranteeing health care providers that it's members will use in-network Job Function Email List doctors. These plans are also negotiated on a fee-for-services basis, whereas HMOs are on a per-person basis. HSA (Health Savings Account) An Job Function Email List HSA is a tax-advantaged account used to pay existing and Job Function Email List future medical expenses.
HSAs are used in conjunction Job Function Email List with high-deductible health plans (HDHP), which will make some with pre-existing conditions ineligible. Also, HSAs must be Job Function Email List funded with cash. Communicating the terms of this account to your employees is important, as a large number of HSAs are underfunded or improperly funded. Job Function Email List The health savings accounts were signed into the law by George Bush in 2003, and have become an affordable alternative to a group health plan. When inquiring about an Job Function Email List HSA, there will be a few things you will want to clarify. While HSAs generally cover routine medical expenses and copays, some can provide dental and vision care as well.
Since HSAs can be combined with certain compatible plans, it is Job Function Email List important to understand how money from the account will be allocated. And finally, you will want to know about cashing out your HSA balance. The amount Job Function Email List is taxable and could be subject to a ten percent excise tax. HRA (Health Reimbursement Arrangement) An HRA is exactly what it sounds like. The employer reimburses the employee for health care. As an employer, you Job Function Email List will usually have the option to contribute to a reimbursement fund, or to pay fees as they are incurred. These reimbursements can be deducted from your taxes, and are tax-free for your employees, saving you both money.