Health Care Cost – Savings

Although the cost of health care seems to be stabilizing a bit, it is still important to take advantage of as many cost saving mechanisms as possible. Many employers have looked to Consumer Driven Health Plans as a means to reduce health care costs by shifting some responsibility to the employee.

It is important to educate employees on the tax benefits of various health savings tools that can supplement these High Deductible Health Plans. It is also important for the employer to understand the tax benefits with offering these plans and the advantages of funding them.

We have provided a chart that compares the technical implications of Health Saving Accounts, Health Reimbursement Accounts, and Healthcare FSA Accounts. See chart below: