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One distinct advantage of the
BASE® HRA+ is the flexibility it offers in plan
design. The BASE® HRA+ can still benefit small business owners whether or not they currently offer group health insurance. This plan can also be layered with other health benefit plans.
For employers with a group health insurance plan already in place,
the BASE® HRA+ greatly benefits both the employer and employees. In many instances, employers are able to significantly lower costs on their insurance premiums with high deductible health plans. Employers can apply these savings to fund the HRA to pay for qualified out-of-pocket expenses. The additional benefits ease the financial burden associated with higher deductible plans that the employees will be subject to. This strategy is saving employers all over the nation thousands of tax dollars while providing their employees with benefits that they normally wouldn’t have been able to take advantage of.
Even if an employer does not offer group health insurance, both employers and employees still benefit from enrollment into the BASE® HRA+. Employers are able to set aside money to reimburse employees for qualified out-of-pocket expenses.
This option is another way that both employer
and employees benefit from the BASE® HRA+.
To inquire about the different BASE® HRA+ plan design options, please contact one of our Benefit Specialists today.
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