eFLHealthinsurance Streamlines Health Reimbursement Arrangements so Companies Meet Dec. 31 Deadline

Dec. 20, 2011 - PRLog -- According to the Kaiser Family Foundation statehealthfacts.org, 64 percent of non-elderly Florida families who needed health insurance from 2008 to 2009 had at least one member working full time. The rising cost of group health insurance has been blamed for the decline in group benefits, but a Health Reimbursement Arrangement (HRA) can significantly reduce benefit costs for employers. With the December 31 deadline fast approaching, eFLHealthinsurance has streamlined the process to set up a HRA at www.eFLHealthinsurance.com/florida-hra.htm.

Employers find that rates are lower for plans in the individual market than in the group plan market. Specifically, plans with high-deductibles have some of the least expensive premiums. With the savings on premiums, employers have been able to compensate workers who need to meet plan deductibles to trigger coverage and still reduce company costs for health benefits.

Options such as Health Savings Accounts and Health Reimbursement Arrangements can be used to help workers meet plan deductibles. One of the main differences between these arrangements lies with ownership. Whether a HSA is funded by the employer or employee, the funds remain the property of the worker through retirement.

Health Reimbursement Arrangements, in contrast, remain the property of the employer. Rather than contribute a lump sum for the benefit of an employee, an employer may cover health care claims through an HRA as they occur. Employees get coverage to meet the deductible when needed, and employers reduce health care spending the rest of the time.

To keep health benefit usage at a minimum, some businesses are utilizing a different kind of HRA: Health Risk Assessments. Such monitoring, often through questionnaires, can highlight risk areas, produce cost projections and project how to decrease the need for health care while increasing productivity. This helps organizations target and track the effectiveness of health interventions within the workforce

Both employers and the self-employed may use similar suggestions designed to curb the increasing cost of health insurance and health care that are available at http://eFLHealthinsurance.com/The-eFLHealthinsurance-Comp.... Online resources for investigating and establishing a HRA may be found at www.eFLHealthinsurance.com/florida-hra.htm. Information regarding Health Savings Accounts is also available at www.eFLHealthinsurance.com/health-savings-accounts-in-florida.php.

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About eFLHealthinsurance:

eFLHealthinsurance has become a leader in providing educational resources that enable Florida families, individuals and small businesses to keep their health care costs low. Online information explaining how to find coverage to fit individual needs is available at www.eFLHealthinsurance.com/how-to-guide.htm and www.eFLHealthinsurance.com/health-savings-accounts-in-florida.php.

Florida residents seeking health insurance options in the individual market may use eFLHealthinsurance’s online resources or schedule consultations with professionals to compare coverage options to personal health care needs by calling 1-866-585-7661 between 9 AM and 11 PM Eastern.

eFLHealthinsurance also provides extensive resources that can lower health care costs that are not covered by insurance at www.eFLHealthinsurance.com/additional-benefits.htm.
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