Health Reimbursement Arrangements (HRA)
Health Savings Accounts (HSA)
Flexible Spending Accounts (FSA)
Voluntary Employee Beneficiary Associations (VEBA)
Retiree Reimbursement Accounts
Wellness Incentive Accounts
Health & Welfare Fund Administration
Business-to-Business Procurement & Sourcing
Self-Insured Benefit Plans
Short-Term Health Care Savings and Long-Term Health Care Benefits:
London's health savings accounts (HSA) are pre-taxed health care savings accounts that help your employees pay for their health care expenses during your plan year, as well as, invest their funds to plan for future costs. HSAs are a perfect tool for employers who want to increase the benefits offered to their employees while lowering the cost of their health insurance plan. London takes care of all the enrollment, banking, and claim administration required to operate each account in order to maximize your HSA experience.
HSAs are Two-Part Benefit Plans:
Health Savings Accounts (HSA)
Decrease costs and payroll taxes for employer and employee.
Employees can rollover and invest tax-free contributions to plan for the future.
Claim feed from health carrier, integrated investment platform, mobile app, and multiple banking partners.
Multiple Payment Options:
Debit card, online bill pay, checkbook and online transfers.
Accounts are portable and funds can be used for any qualified health expense.
High Deductible Health Plan (HDHP): YOUR HEALTH
Health insurance plan that has a higher member out-of-pocket responsibility, called a deductible, before insurance carrier begins paying towards your medical expenses.
Although your health plan’s deductible is higher, your premiums will be generally lower to help you afford the potential higher out-of-pocket expense.
The health plan covers all the same services as a traditional health plan such as hospitalization, office visits, labs and prescriptions.
Bank Account (HSA): YOUR WEALTH
Savings account funded with pre-tax dollars that helps you pay for your qualified health care expenses.
Qualified health care expenses include services applied toward your deductible as well as other health care necessities incurred by you and your tax dependents such as dental and vision expenses.
HSA is an FDIC-insured interest bearing bank account.
Funds in the pre-tax bank account rollover from year to year.
Funds can be invested to plan for long-term health care needs.
The HSAs can be funded with tax-deferred contributions by the employer, and/or pre-tax dollars automatically deducted from your employees’ paychecks. Your employees can use the funds in their HSA to pay for qualified expenses, such as, deductibles, copays, eyeglasses, dental, etc. Any unused funds in the HSA at the end of the annual term will carry over from year to year.The most unique segment of London's HSA is the ability for the employees to invest portions of their funds into interest-earnings vehicles such as mutual funds, money market accounts, and equity funds.
The benefits of implementing HSAs are achieved by both the employer and employee:
Benefits to Employer =
Benefits to Employee =
©2015 All rights reserved. London Health Administrators - www.londonhealthusa.com