Adding coinsurance to a group plan drives down the overall cost of the plan but the impact on employees is not always positive. Find out how to use a Health Spending Account (HSA) to offset the costs associated with the introduction of employee coinsurance – a win-win for both the plan and employees.

Convincing your clients:
– It allows employees to share in the cost of the plan – lowering the overall plan cost
– The introduction of coinsurance will cause a reduction in the deposit needed, which can be redirected to the HSAs, allowing for the same monthly bill amount
– Employees can use their HSA funds for:
– Out-of-pocket coinsurance amounts
      – Or additional services not covered under the group plan

Getting started:
– Verify your group’s coinsurance levels
– Account Managers available to support Advisor with analysis & HSA amount recommendation
– Can be implemented at renewal or mid-year
– Support available from Benecaid to educate potential clients as well Plan Members on HSA basics

Interested in finding out more about how this strategy has worked for Benecaid clients? Contact your Benecaid Benefits Consultant or email us at advisors@benecaid.com.

For Benecaid’s Health Spending Account terms and conditions please click here.