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

Business insurance plans for online business
Published by Andrew Edwards on May 10th 2012 | Insurance
While starting new online business consider business insurance as the prime requirement of your comp...
 
Product liability insurance is a risk management investment
Published by Andrew Edwards on March 14th 2012 | Insurance
Market has reached a position where from it is important for every company to look for risk manageme...
 
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...
 
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...
 
Facts about car insurance comparison website
Published by Jameshaven on March 16th 2012 | Insurance
If an individual is looking to buy car coverage, he would indeed need various quotes to estimate and...
 
Expert in different types of insurance and customized insurance services
Published by Caden on June 14th 2012 | Insurance
Insurance Express is an insurance provider of auto, car, commercial or business insurance etc. Other...
 
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...
 
Getting best deals on cheap auto insurance in Nevada
Published by Alabamaauto Insurances on January 17th 2012 | Finance
There are hundreds of resources that can help you to win that much desired cheap auto insurance in N...
 
Why to get mobile phone and iPad insurance
Published by Ashish Pandey on February 7th 2012 | Finance
Getting mobile phone insurance or iPad insurance can be a great tool to avoid unnecessary expense an...
 
Commercial general liability insurance to cover major issues
Published by Andrew Edwards on February 20th 2012 | Insurance
What kind of business developed by you, it is a major question which signifies type of coverage need...
 
Tips for effective Car insurance comparison
Published by Geenadavis on March 28th 2012 | Insurance
In order to obtain the lowest insurance rates it is a wise idea to compare various quotes. This will...
 
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 ...
 
Georgia health insurance plan made for everyone
Published by Ricky Martin on July 27th 2012 | Insurance
With all these benefits we can say that Georgia health insurance plan is made for everyone. And as e...
 
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...
 
Cheap classic car insurance – tips to find the best company
Published by Anneshirley on March 20th 2012 | Insurance
Having a classic car is a great source of pleasure. No matter for what purpose you use your classic ...
 
Maryland the state of expensive auto insurance
Published by Insuranceindian Aauto on March 5th 2012 | Finance
Maryland is famous for its expensive auto insurance unlike other states; the state is rated as the t...
 
Clarion Event liability insurance covers host of resources
Published by Michel Jordan on February 1st 2012 | Insurance
The article describes the public liability insurance for musicians offered by Clarion Associates to ...
 
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...
 
Compare car insurance online for more
Published by Jorjbush on January 12th 2012 | Insurance
With advancement in technology all the car insurance companies have taken a move ahead. Gone are the...
 
Get compensation by business interruption insurance for disastrous circumstances
Published by Andrew Edwards on January 2nd 2012 | Insurance
If you are running a business successfully and happy earnings gained on regular basis...