Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Demand for Ohio High Deductible Insurance Plans Goes Up

By Tracy McManamon Subscribe to RSS | December 2nd 2011 | Views:
loading
 
  



New surveys by benefits consulting firm Mercer point out high-deductible health plans (HDHPs) are becoming popular among U.S. employers. The reason is that such plans help cut premiums by transferring a greater share of healthcare expenses to workers. Annual premiums for employer-sponsored family coverage went up by up to 9 per cent in 2011 according to the Kaiser Family Foundation/Health Research Educational Trust 2011 Employer Health Benefits Survey.

Ohio employers are also waking up to the potential cost savings of HDHPs which have higher deductibles and lower premiums than traditional health plans. If you are doing business in the Buckeye State and looking for Ohio health insurance for your workers, this is the perfect time to sponsor enrollment in an Ohio high deductible health plan.

Potential Cost Savings of HDHPs

Insured workers make payments up to a defined annual deductible amount before the HDHP plan pays for any benefits. The Internal Revenue Service (IRS) sets the minimum deductible for HDHPs.

High deductible plans include a Health Savings Account (HSA) and workers pay for more of their initial medical expenses with the money deposited by them and their employers into the HSA. Unused contributions to this account can be rolled over from year to year, allowing workers to build up a fund to pay for future medical expenses.

According to the 2011 Kaiser survey, workers have to pay an average deductible of $1,908 in HDHPs covered by a health savings account. With traditional health plans, the deductibles are well under $1,000. Thus, HDHPs are cutting costs for employers because the combination of high deductible and lower premiums is encouraging workers to be more careful about their medical expenses. The advantage of these plans is that the savings in premium expense can be contributed to the HSA and made to pay for out-of-pocket medical expenses.

Many HDHP Options for Ohio-based Employers

High deductible health plan and HSA plan sponsors should ensure that their Ohio high deductible health plan documents and communications are prompt and correctly updated to reflect the IRS HSA, HDHP 2012 indexed amounts. Leading Ohio health insurance companies such as Aetna, Medical Mutual of Ohio, UnitedHealthOne, Humana and Anthem Blue Cross Blue Shield offer several HSA-qualified HDHPs for employers to choose from. Getting professional guidance is the best option when it comes to obtaining HSA-based health ohio Articles"> insurance Ohio plans that meet employer corporate goals while providing as much benefits as possible for workers.

Tracy McManamon - About Author:
Tracy McManamon is a licensed health insurance Ohio agent with over 22 years of experience. He and his team members can help you find an affordable Ohio health insurance plan that ideally meets your needs.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/insurance-articles/demand-for-ohio-high-deductible-insurance-plans-goes-up.htm

Related Insurance Articles Subscribe to RSS

Vauxhall Corsa Insurance gives you best insurance
Published by Ahmadgill on January 26th 2012 | Insurance
Now a day our company is committed in giving you cheap insurance and cutting rates on Vauxhall Corsa...
 
What is Home insurance and Its Benefits?
Published by Mbrewster on March 25th 2012 | Insurance
House is the best place of our comfort and generally our precious investment we ever had. Even most ...
 
Availing benefits from cheap California auto insurance
Published by Auto Insurances on January 14th 2012 | Finance
In this period of inflation who doesn’t want to save money? Every one seeks to save money from eve...
 
Getting the best Georgia auto insurance
Published by Auto Insurances on January 17th 2012 | Finance
As the state of Georgia is very notorious for having a big number of car accidents and also incident...
 
Tips to find cheaper van insurance
Published by Robmarshall on March 28th 2012 | Insurance
Running a business is no laughing matter. It can be quite difficult and probably a business owner is...
 
What will influence the cost of your income protection insurance?
Published by Jenymorison on December 9th 2011 | Insurance
If you have decided to purchase income protection insurance for yourself then surely it can prove to...
 
Some ways to find cheap car insurance
Published by Robmichae on March 16th 2012 | Insurance
As you probably know, auto insurance is very mandatory, but costly part of having and driving a car....
 
Know more about cheap car insurance
Published by Anneshirley on April 12th 2012 | Insurance
It is not a tough thing to find car insurance, but yes it is very hard to find the classic car insur...
 
All new drivers should be conversant with laws regarding auto insurance!
Published by Jerry on March 10th 2012 | Insurance
When you are a first time car owner or buyer, there are usually many things that you may need to edu...
 
Dental insurance plans
Published by Lessardcasey on January 13th 2012 | Insurance
Most people have experienced the unpleasant feeling of a cavity or other nagging tooth problems. How...
 
Individual medical health insurance
Published by Lessardcasey on November 30th 2011 | Insurance
Individual medical health insurance is something that every man and woman should have, unless they a...
 
Low cost medical insurance procedure
Published by Lessardcasey on March 28th 2012 | Insurance
Low Cost Medical Insurance is difficult to come by these days, but there is one superb company out t...
 
How commercial insurance smooth the progress of home based business
Published by Andrew Edwards on December 6th 2011 | Insurance
Test your business skills first before starting a home based business...
 
A quick guide to reducing your auto insurance premium rates
Published by Jerry on March 10th 2012 | Insurance
In this day and age, it has become very important that one tries to get a decent means of transport....
 
Tips to find the best car insurance comparison sites
Published by Geenadavis on February 25th 2012 | Insurance
Shopping around for the cheap auto insurance online can be a challenging task if you do not know how...
 
Look at us and buy affordable business insurance
Published by Andrew Edwards on March 14th 2012 | Insurance
While making choices in for business insurance you should not avoid us...
 
How to compare classic car insurance online
Published by Anneshirley on March 20th 2012 | Insurance
If you drive classic car then you must be familiar with the requirements for suitable insurance cove...
 
How to do Car insurance comparison before buying a car insurance coverage
Published by Geenadavis on March 28th 2012 | Insurance
The very first thing after purchasing a new vehicle is to get it covered because it is extremely ess...
 
Steps to find car insurance comparison sites
Published by Geenadavis on March 1st 2012 | Insurance
In today’s economic downturns, owning an automobile is more of necessity then a luxury, and if an ...
 
Affordable medical insurance plan
Published by Lessardcasey on January 13th 2012 | Insurance
In today's world, it's important to be prepared for emergencies. While having a savings account is a...