BASE® Reports Proven Savings Method to Combat Soaring Health Costs

March 9, 2011 - PRLog -- Small and medium-size employers try to shop around for health insurance, but have few alternatives from which to choose. With employers across the country reporting 20-60% premium increases, many employers are seeking proven methods to contain health care costs.  BASE®, a benefit administrator, has helped many of these types of employers combat soaring health care costs with a Health Reimbursement Arrangement.

The BASE® HRA+ has helped employers across the country.  Whether employers are looking to enrich their current benefit plans, offset benefit cutbacks, or implement cost saving measures, BASE® works diligently to ensure that each plan meets the specific needs of each client.

The Midwest is just one portion of the country being plagued by health insurance premium increases.  Just over a year ago, an Iowa company was faced with a 38% increase in health insurance premiums.  They knew they needed to make some changes in order to keep their health insurance options affordable.  After researching various insurance options, they found most plans in their target price range had significantly less coverage.

As the person responsible for benefits, Molly Varangkounh, worried that she would be unable to provide adequate coverage for her Iowa based company.  She said, “Our company was lucky enough to have an agent who kept looking for better options for us, and introduced us to the idea of a Health Reimbursement Arrangement (HRA).  This is how we learned about BASE®, an HRA Administrator, who explained how we could reduce our premiums without reducing our coverage.”

After receiving a complimentary benefit analysis from BASE®, Molly’s company elected to establish a BASE® HRA+ and was able to reduce their premium increase by 50%.  They were able to capitalize on the benefits the BASE® HRA+ can provide and keep their health insurance premiums affordable for their employees.

Businesses across the country have followed suit, as there is no end in sight for rising health insurance premiums.  Businesses looking to research their options are able to contact BASE® at 1-800-309-8012 and request a complimentary benefit analysis.  

By performing an analysis and outlining benefit spending to review how that spending is affected with the use of cost containment programs, such as the BASE® HRA+ and BASE® 125 Cafeteria Plan, employers are provided with the knowledge they need to make a decision that is best for their business and employees.  It doesn’t cost anything to perform an analysis, and it could wind up saving an employer thousands of dollars.

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BASE® administers a variety of employee benefit plans that are customized to meet the needs of each client. Plans include:

•Health Reimbursement Arrangement (HRA)
•SamplePay®
•HRA+
•125 Cafeteria Plan (FSA / DCAP / HCPR / POP)

http://www.baseonline.com