The IDEA of an HSA (Health Savings Account) is not for the employer to save money.
See here: http://en.wikipedia.org/wiki/Health_savings_account It's for the employee to have a employer-funded savings account for medical expenses. Putting the normal, small expenses on the employee. So if the employee is healthy and doesn't see a doctor much, that employee can realize a savings account that grows. There is coverage in the case of a large problem. So, while premiums ARE technically lower for the employer, the employer is then SUPPOSED to put what essentially is the difference between a traditional premium and an HSA premium in the employees HSA account. This is a small step toward people paying for their own healthcare and having a savings later on in life when health care costs are higher. The advisor I talked to stated that the payoff seems to be about 18 months. In 18 months, if you don't have much in expenses, you begin to build your savings account to a point where it outperforms what a "normal" person would pay for out-of-pocket expenses. If you run it dry constantly, then it will not perform well for you, and therefore YOU should stay on a traditional premium plan. This is an employee-by-employee decision to make depending on the life circumstances of THAT employee and his/her family needs. ----- Original Message ----- From: Bret Clark To: WISPA General List Cc: memb...@wispa.org ; motor...@afmug.com Sent: Wednesday, July 28, 2010 4:56 PM Subject: Re: [WISPA] [WISPA Members] Health Insurance We went through an independent broker who essentially had created a small business group plan of area businesses that help keep cost down verses us going to the insurer ourselves. Another thing to consider is Health Savings Accounts (HSA) which are a lot less then regular health insurance but at least affords some piece of mind for employees in the event they are faced with a serious medical or health issue. Bret On Wed, 2010-07-28 at 19:07 -0400, David Weddell wrote: I know that we are constantly battling pricing in health insurance. We would be interested in how we could participate in a “WISPA” group plan and with 60+ employees and families that we cover, you can imagine our monthly premium. I would assume that in an association plan, the more that participate, the better rates could be negotiated. We would be interested in helping with negotiations if needed. I believe this is a great idea and could benefit WISPA as a whole and encourage membership as well. Regards, David Weddell VP Business Development & Corporate Partnerships Omnicity, Inc. www.omnicity.net OTCMarkets: OMCY 866 586 1518 Corporate Office 765 499 7310 Cell From: members-boun...@wispa.org [mailto:members-boun...@wispa.org] On Behalf Of Rick Harnish Sent: Wednesday, July 28, 2010 5:40 PM To: 'WISPA General List'; memb...@wispa.org; motor...@afmug.com Subject: [WISPA Members] Health Insurance I am curious about all the small operators out there. What are you doing for Health Insurance? Do you have individual policies? Are you on your wife’s policy? Is there a need for a WISPA Group Health Insurance Plan? I will be investigating this topic over the next few weeks. I will most likely send out a survey in a week or two once I get together with an underwriter and see what the feasibility is. Between now and then, I would like to encourage discussion to see whether it is worth our effort. My goal is to offer a group plan that will assist those who do not have enough employees to justify an in-house group plan for their employees or themselves. Hopefully, we can reduce your cost and improve your coverage. Respectfully, Rick Harnish President WISPA 260-307-4000 cell 866-317-2851 WISPA Office Skype: rick.harnish. rharn...@wispa.org -------------------------------------------------------------------------------- WISPA Wants You! Join today! http://signup.wispa.org/ -------------------------------------------------------------------------------- WISPA Wireless List: wireless@wispa.org Subscribe/Unsubscribe: http://lists.wispa.org/mailman/listinfo/wireless Archives: http://lists.wispa.org/pipermail/wireless/ ------------------------------------------------------------------------------ -------------------------------------------------------------------------------- WISPA Wants You! Join today! http://signup.wispa.org/ -------------------------------------------------------------------------------- WISPA Wireless List: wireless@wispa.org Subscribe/Unsubscribe: http://lists.wispa.org/mailman/listinfo/wireless Archives: http://lists.wispa.org/pipermail/wireless/
-------------------------------------------------------------------------------- WISPA Wants You! Join today! http://signup.wispa.org/ -------------------------------------------------------------------------------- WISPA Wireless List: wireless@wispa.org Subscribe/Unsubscribe: http://lists.wispa.org/mailman/listinfo/wireless Archives: http://lists.wispa.org/pipermail/wireless/
