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Delivering Healthcare Options for Employees

An employee healthcare plan today is most likely at the top of the list of expensive employer-paid benefits. And, over the past 15 years or so, employers have seen their plan rates increase significantly as the cost of healthcare rises. Many employers have turned to alternative, viable options that they can offer, including making available consumer-driven health plans (CDHPs). These plans are designed to shift more of the financial responsibility for medical decisions onto the insured employee, resulting in more thoughtful use of funds.

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Helping you balance benefits with cost. 

At Provident Protection Plus, in addition to offering traditional group health plans, we can provide businesses with the ability to provide employees with consumer-driven health plans, savings accounts that employees can use for medical costs. Employees fund health savings account (HSA) with pre-tax income, but, as an employer, you can also choose to supplement it. The HSA belongs to the employee and can be transported to another job if he or she moves.

Another option is an HRA, or health reimbursement account, which is set up and funded by the employer and is used to reimburse participating employees for qualifying medical expenses.

A flexible savings account (FSA) option is also available, which is similar to the HSA, but it can be associated with a traditional health insurance plan, as well. Deposited funds are pre-tax dollars and are not subject to payroll taxes. Funds not used by the end of the plan year are lost to the employee.

Provident Protection Plus to serve your employee benefits needs.

With more than 65 years of experience, Provident Protection Plus, Inc. has provided insurance protection services and employee benefits throughout New Jersey, New York and parts of Pennsylvania. We are licensed in 37 states and not only provide excellent protection and value for our clients, but also offer education and insight into risk management practices. Provident Protection Plus success hinges on our unique ability to build strong personal relationships with our customers in order to provide best-in-class insurance solutions. Give our professionals a call toll-free at 888.990.0526, email us or fill out and send the form on this page for a free consultation and quote.