Zane Benefits Publishes New Information on Standalone Health Reimbursement Arrangements
Park City, Utah (PRWEB) July 05, 2013 -- Today, Zane Benefits, the online alternative to group health insurance, published new information on the pros and cons of standalone Health Reimbursement Arrangements.
According to Zane Benefits’ website, as a small business evaluates how to offer employees health insurance, they will likely consider a standalone HRA. Standalone Health Reimbursement Arrangements (HRAs) are an IRS-approved vehicle that allows small businesses to provide employees with tax-free contributions to their individual health insurance premiums and out-of pocket medical expenses. With a stand-alone HRA, a small business offers employees a "business expense" type of health benefit, as an alternative to a traditional group health insurance plan. Stand-alone HRAs are also referred to as "pure" defined contribution plans.
Zane Benefits provides pros and cons for both the small business and employees.
Pros for Small Businesses: According to Zane Benefits’ website, the four main pros of standalone HRAs for small businesses are: flexibility, employer control, tax savings, and employee recruitment and retention.
The five main pros of standalone HRAs for employees are: the benefits of pre-tax dollars, choice of plans, plan portability, plan value, and federal premium tax subsidies in 2014.
According to Zane Benefits’ website, there are two cons for small businesses: A Change in benefits administration, and limited tax benefits for some owners.
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About Zane Benefits
Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHRA") for Health Reimbursement Arrangements (HRAs) and defined contribution health care. The flagship software provides a 100% paperless administration experience to small businesses and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about ZaneHRA, visit http://www.zanebenefits.com.
Christina Merhar, Zane Benefits, http://www.zanebenefits.com, 800-391-9209 6725, [email protected]
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