A quarter of large employers now offer a consumer-driven health plan. And almost 70% are thinking about introducing one.
Why? Because this innovative approach to health insurance -- increasingly popularized by Health Savings Accounts -- is one of the most effective ways to control costs. In fact, a 2006 survey by Deloitte Consulting just found that cost increases for consumer-driven plans in large firms will average only 2.6% this year. Meanwhile, other plan types will see their costs increase from 6.6% to 7.5%.
So when are you going to get on the bandwagon?
Maybe you're an entrepreneur just starting out and you need to insure yourself. Maybe you're a small business owner and you need a good insurance plan to attract top-notch employees. Maybe you run a multi-million-dollar company and are looking to provide better insurance for your team -- and cut costs.
A Health Savings Account just might be the perfect solution for you. HSAs are just two years old, but they're already transforming America's insurance landscape. Over three million have been established so far, and more and more savvy folks are coming on board every month.
A Health Savings Account? What's that? Millions of otherwise intelligent people still don't have a clue. They're really not so complicated. A HSA makes health coverage more like, well, insurance. After all, the reason you buy car insurance is to protect yourself in the event of a catastrophe. Routine things like maintenance and minor repairs you take care of yourself. You don't "insure yourself" against a flat tire or a new turn-signal bulb.
An HSA is actually a tax-free bank account that works in tandem with a high-deductible health insurance plan. That plan is far cheaper than traditional insurance, which is vastly over-priced because it covers every nick and scratch. A high-deductible plan protects you from serious medical bills.
To be precise, the insurance kicks in after you've paid the first $1,050 to $2,700 in expenses, depending on your plan.
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