Many employers have increased health plan deductibles to manage costs, with some adding a high deductible health plan (HDHP). However, the resulting financial stress and delay in care can negatively impact workplace health, productivity, employee retention and ultimately the bottom line. Because of their limitations, HSAs have not effectively addressed these concerns. With BeneBoost, a supplemental health insurance plan that is HSA-compatible, you can help eliminate the perceived downsides of HDHPs.
*BeneBoost is a hospital indemnity plan providing confinement as well as additional out-patient indemnity benefits.
An employer-sponsored plan that delivers what HSAs and voluntary plans can’t.
Provides the extra protection of insurance with coverage for routine and unexpected medical expenses; benefits available from day 1.
Can be offered to all employees or select group(s) of employees; can offer to any enrollment tier (no need to match primary healthcare plan).
Can co-exist with HSA funding (if employee or employer want to fund HSA).
The word supplemental comes with a connotation of superfluous or unnecessary, and unfortunately that connotation is sometimes carried over to supplemental health insurance. But with the recent shifts in the benefits industry, supplemental health insurance has taken on new importance. A Little History For years, supplemental health insurance was considered an afterthought and an optional […]
Read moreHigh deductible health plans (HDHPs) have steadily become the norm, not the exception, as employers seek to contain healthcare costs. As of last year, a majority of employers (51%) offered one of these plans.[i] And one analysis by the Centers for Medicare and Medicaid Services found that 28% of covered workers are enrolled in an […]
Read moreVoluntary insurance, also referred to as worksite voluntary insurance, is the most common type of supplemental health insurance. A few examples of voluntary insurance plans are critical illness, cancer and hospital indemnity. For years, voluntary insurance has dominated the supplemental market, which is why when employers and brokers think of supplemental insurance, their minds automatically […]
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