Call Us: (610) 853-9075 • Toll-Free: (855) 222-5727
Call Us: (610) 853-9075 • Toll-Free: (855) 222-5727

June 2013 Newsletter

 

The Harrison Group

 

COMPANY
SERVICES
EMPLOYEE CENTER
RESOURCES
BLOG

 

 

 

The Harrison Group

 

Our
Mission

The
Harrison Group’s mission is to provide exceptional products and
services that are flexible and responsive which enable our clients to
offer their employees the best possible employee benefit plans.

 

Contact
Us

Richard H.
Miller,  Jr.
President

Telephone:

610.853.9075

Toll Free:

855.222.5727
Fax:
610.853.9079

 

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Black Stripes

June 2013

Issue No. 4

  

CuriousCurious
About Consumer-Driven Health Plans?

Learn more about the
tax savings and flexibility offered by these third-tier health
insurance plans, which allow members to use health savings accounts (HSAs), health reimbursement arrangements (HRAs),
flexible spending accounts (FSAs) or
similar medical payment products, to directly pay routine healthcare
expenses. Check out this short video on how consumer-driven
health plans (CDHPs) can help employers and employees alike save BIG
while putting you in charge of your healthcare plan.

 

 

GrowthConsumer-Driven
Health Plans Continue to Show Strong Growth

 

Enrollment growth

  • 16.5
    million Americans currently in HSAs, growing at a rate of 22.5
    percent
  •  U.S.
    banks held $15.9 billion in HSA deposits at the end of last
    year
  •  38
    percent of employers offered an HDHP with an HSA in 2011
  •  Nearly
    two-thirds of employers will offer an HDHP with an HSA in 2013

 

 

Offerings remain steady while
enrollment
increases

  • HRAs
    were offered by 25 percent of companies in 2012
  • Enrollment
    in high-deductible plans with HRAs increased from 34.2 percent
    to 37.9 percent in 2011
  • When
    employees have a choice between CDH plans and another medical
    plan, enrollment averages 31 percent for HRA-based plans and
    21 percent for HSA-based plans

         

 

Largest market

  • Over
    85 percent of large employers offer FSAs, but only 20 to 22
    percent of eligible employees enroll, totaling 33 million
    people
  • FSA
    enrollees make an average election of $1,400, resulting in a
    net tax reduction of about $200, and $75 forfeited per year

         

Source:  “Using Cards Creatively to Increase
Revenue and Decrease Costs,”
   *Evolution1
Webinar, May 7, 2013

*Evolution1
is The HG’s Prepaid Debit Card Partner

 

 

AdvantageThe HG’s Advantage™ Card Offers a Better Way 

Buying with Credit Card in the Pharmacy.

What makes consumer-driven healthcare work? In theory,
giving consumers more control over their healthcare expenses, and
more responsibility for their healthcare decisions, means that they
will make better and more informed choices, resulting in happier
employees, and reduced costs for employers.


However, in order for consumer-driven healthcare to be effective, the
administration of such a program must not become a burden. That’s
where The Harrison Group’s Advantage Card comes
in.  <<Read more>> 

 

 

MainstreamConsumer-Driven Healthcare Goes Mainstream:
10
Years, 10 Catalysts of Change in Benefits

By Kathryn Mauer

Hospital Outpatient Entrance SignA
decade ago, consumer driven health care was little more
than a fad-just one more temporary fix aimed at the country’s
troubled health care system.

 

But not
anymore.

 

The last
decade has seen massive growth-not to mention wider acceptance-of
consumer-driven healthcare and related products by both employers and
employees. <<Read more>>

31
South Eagle Road, Suite 205, Havertown, PA 19083  

Phone:
610-853-9075   ·   Toll Free: 855-222-5727
·   Fax: 610-853-9079

 

 

The Harrison Group, Inc.

3 Raymond Drive, Suite 201, Havertown, PA 19083
Call us: (610) 853-9075
Toll-Free: 855-222-5727
Fax: 610-853-9079
Email: service@theharrisongrouponline.com

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