Small Businesses Implement Defined Contribution Health Plans to Reduce Healthcare Costs in 2014
Zane Benefits, Inc., a software company based in Park City, UT, reports that small businesses are rushing to establish Defined Contribution Health Plans for 2014. This rush comes as small businesses see the opportunity for cost savings and better health benefits in 2014.
According to Zane Benefits' website, group health insurance is broken for small businesses and their employees. The cost of premiums is unsustainable and a one-size-fits-all plan does not meet the diverse health needs of employees.
That's where Zane Benefits says new strategies, such as Defined Contribution Health Plans, come into play.
A "Pure" Defined Contribution Health Plan allows employers to give select employees monthly allowances to spend on their own health insurance policy in the individual/family market. This strategy enables an employer to determine exactly how much to spend on employee health benefits and save money on health benefits in 2014.
According to Rick Lindquist, President of Zane Benefits, "We are seeing an enormous uptick in the number of Defined Contribution Health Plan requests as small businesses see the value of individual health insurance and a Pure Defined Contribution approach. Our ZaneHealth solution allows a business to create the plan in less than 15 minutes online. Zero paperwork is required."
ZaneHealth is a cloud-based administration platform that allows employers to give select employees monthly allowances to spend on their own individual health insurance. With ZaneHealth, employers set aside a certain sum every month, say $200, that employees spend on their own health insurance policy in a state health insurance exchange or through a broker.
With ZaneHealth, small businesses can successfully transition to a health plan that creates happier employees, reduces costs and frees up time for meaningful work.
The Zane Benefits website (www.zanebenefits.com) has a library of educational resources for employers, health insurance brokers, and CPAs wanting to learn more about a Defined Contribution approach for 2014.
About Zane Benefits, Inc.
Zane Benefits, the #1 Online Health Benefits Solution, was founded in 2006 to revolutionize the way employers provide employee health benefits in America. We empower employees to take control over their own healthcare, while helping employers recruit and retain the best talent. Our online solutions allow small and medium-sized businesses to successfully transition to a health benefits program that creates happier employees, reduces costs and frees up more time to serve their customers. For more information about ZaneHealth, visit http://www.zanebenefits.com.