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Selling Insurance to Businesses - HSA with HDHP

Name: Selling Insurance to Businesses - HSA with HDHP
Uploaded: 2014-10-31T19:29:03+00:00
Duration: 1 min 12 s
Channel: Michael Viñal
Description: In this brief sales dialogue, Speaker B cites research from the Agency for Healthcare Research showing that low deductibles and small copays can raise a…

31 Oct 2014 · 1 min

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1:12

In this brief sales dialogue, Speaker B cites research from the Agency for Healthcare Research showing that low deductibles and small copays can raise a company's health insurance costs by up to 40%, because employees tend to file claims for minor expenses they could otherwise pay out‑of‑pocket. Speaker B argues that the proper solution is to combine tax‑exempt Health Savings Accounts (HSAs) with low‑cost, high‑deductible major medical plans (HDHPs). This combination lets employees cover routine care with pre‑tax dollars while the insurance covers major, catastrophic events, thereby reducing overall insurance costs for the employer by as much as 40%, limiting rate increases, and giving employees flexibility in choosing benefits.

Chapters

Here's the problem.
According to the Agency for Healthcare Research, low deductibles and small copays can increase the cost of company health insurance by as much as 40% because minimal copayments make it easy for employees to submit insurance claims for minor healthcare expenses that they can afford to pay without insurance. Of course, we all need insurance to cover major healthcare expenses like surgery or hospitalization. But expecting our health insurance to pay for minor medical expenses like checkups, flu shots, and teeth cleaning is like expecting our auto insurance to pay for— What's the solution? Tax-exempt health savings accounts and low-cost major medical insurance. It's a combination that can reduce the cost of your insurance by as much as 40%. Minimize your rate increases, allow your employees to choose their own healthcare benefits, and pay for all their healthcare expenses with tax-deductible dollars.