Article: The Latest Money Saving Group Health Insurance Strategies For California Employers
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The Latest Money Saving Group Health Insurance Strategies For California Employers
What are some the latest Strategies being used by Small Business owners in California to make their group health insurance premiums more efficient?
1. Health Savings Accounts (HSA)
This is a strategy where the employer buys a health plan with a large deductible. Typically, these are groups that are coming from a plan with a very low deductible. Since the higher deductible plans are usually much less money, the money saved is used to put into the employee's "Health Savings Account." The money in this account is used by the employee to pay qualified medical expenses. If it's not used, the money rolls over to the next year. The money belongs to the employee, even if they leave the company.
2. Health Reimbursement Arrangements (HRA)
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