Small Businesses Implement Health Reimbursement Arrangements to Reduce Healthcare Costs in 2013
Zane Benefits, Inc., a software company based in Park City, UT, reports that small businesses are rushing to establish a Health Reimbursement Arrangement (HRA) before the December 31st deadline for 2013. With ZaneHRA, employers can set up an HRA in less than 15 minutes online and administer the program in less than 5 minutes per month.
An HRA, or health reimbursement arrangement, allows employers to give select employees monthly allowances to spend on their own health insurance policy in the individual/family market. HRAs enable an employer to determine exactly how much to spend on employee health benefits.
According to Rick Lindquist, President of Zane Benefits, "We are seeing an enormous uptick in the number of stand-alone HRA requests as December 31st approaches. Our ZaneHRA solution allows a business to create the HRA plan in less than 15 minutes online. Zero paperwork is required."
Zane Benefits provides a cloud-based HRA administration platform ("ZaneHRA") that allows employers to give select employees monthly allowances to spend on their own individual health insurance 100% tax-free. With ZaneHRA, 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. The employer can write off the expense for tax purposes, just like traditional health benefits, and the money doesn't count as taxable income for the employee.
The Zane Benefits website (www.zanebenefits.com) is full of information and educational resources for those wanting to learn more about HRAs. Specifically, there is an HRA “Case Study” section that shares real-life, firsthand information about existing ZaneHRA clients’ utilization of the HRA concept.
Last month, Zane Benefits announced a new 30-day free trial of its ZaneHRA software platform. Businesses that set up the free trial will receive immediate access to ZaneHRA’s features including paperless signup, electronic plan design, online enrollments and real-time reporting. To start a free trial, go to www.zanebenefits.com and click “Free Trial”.
About Zane Benefits, Inc.
Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHRA") for Health Reimbursement Arrangements (HRAs). The flagship software allows employers to offer a "business expense account" for healthcare. Zane Benefits does not sell health insurance. For more information about ZaneHRA, see www.zanebenefits.com.