Applied Benefit Concepts takes advantage of current marketplace trends and uses them to our client's advantage. By promoting high-deductible health plans where appropriate, you are able to capture substantial medical premium savings while maintaining the integrity of your health plans. We employ an innovative approach of allocating premium savings to offset employee deductible expenses, which are then paid directly to providers, allowing both employer and employees to seamlessly share in the process.
For starters, though, there are several important things to know about High-Deductible Health Plans before electing for Health Re-imbursement and Health Savings Accounts. Fortunately, ABC has the knowledge and experience to guide you in the right direction.
Before you can establish and fund a Health Savings Account (HSA), you must be insured under an HSA- compatible High-Deductible Health Plan (HDHP) with an annual deductible of at least $1000 for an individual and at least $2000 for a family. An HDHP can be purchased individually or through an employer-sponsored plan.
Your maximum HSA contribution is limited by the size of your HDHP deductible. So, to take full advantage, purchase an HDHP with a deductible at least close to the legislated HSA contribution caps of $2650 for an individual and $5250 for a family.
To learn more about High-Deductible Health Plans, please contact us.