Benefits Age HSA Saves Chicago Client 42%

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Employer was able to share the savings on their insurance premium with their employees and still ended up with a 42% savings. Benefits Age also featured in HSAReport.comÂ?s Â?This WeekÂ?s Big Question.Â?

Score another victory for Health Savings Accounts. Benefits Age, a leading Midwest provider of innovative employee benefits solutions, reports cutting one of their Chicago client’s health insurance costs by 42% after switching them to a Health Savings Account (HSA).

“The employer kicked some of that savings back to their employees, helping them to fund their individual HSAs, and the firm still ended up with a 42% savings,” Tim Elenz, Benefits Age President explains. “They couldn’t be happier. Some brokers don't like the idea of HSAs simply for the fact that it cuts their commissions. We're more interested in doing the right thing for our clients.”

Benefits Age is also featured in “This Week’s Big Question” at Industry notable Tim Elenz responded to the problematic issue of prescription drug coverage. "Whether you agree with George Bush or you don't agree with George Bush, his push behind HSAs has got to be the best thing he's ever done,” says Elenz. “But there have to be concessions around prescription drugs which won't cut too harshly into premium savings. At the very least, you have to allow consumers to purchase drug discount cards. "

“Of course, the argument could be made that consumers will begin to curb escalating prescription drug costs because it’s their dime, but that will depend on much more widespread HSA utilization, and that remains to be seen. Personally, I think HSAs will be a household name by 2006, but I’ve been wrong before.”

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About Benefits Age:

Recognized as one of the leading employee benefits specialists in the Midwest, Benefits Age has been providing innovative group benefits solutions since 1989 to companies ranging from small family owned businesses to large national corporations.                    

Contact Information:

Sean McFadden

Director of Marketing



847-397-5304 (fax)

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