Ceridian News release on latest Kaiser Benefits Survey on health care cost and Flexible Spending Accounts (FSA).
Rising health care costs breathe new life into the value of pretax benefits
February 29, 2008. What’s old is new in 2008 with the high cost of health care again topping the list of concerns for many of your clients … and presenting you with yet another opportunity to show the value of pretax benefits.
And by reminding your clients of the significant savings Flexible Spending Accounts can bring them and their employees, you show your value as their benefits adviser!
As recently reported in the Employer Health Benefits Survey (Kaiser Family Foundation), U.S. health-benefit costs rose last year by 6.1 percent, which is higher than the overall rate of inflation and the increase in workers’ earnings
As costs continue to soar, many of your clients - especially those with small businesses - are being forced to shift more health costs to already-burdened employees.
Consumer-directed health care holds promise, but a Flexible Spending Account is one of the most innovative, practical ways to help your clients and their employees combat the rising costs of health care right now. Although many employers offer FSAs, there exists a need for education on how employees can take advantage of the service.
For example, your clients may know that an FSA can help manage out-of-pocket health expenses, but remind them that their employees can also use an FSA to reimburse their mileage expense for eligible health provider visits.
Employees typically save an average of 30 percent on eligible expenses by using tax-free money and your clients pay no taxes on their employees’ paycheck contributions - a win-win for all.
About Ceridian Benefits Services
Ceridian is a leading provider of benefits services and offers HR solutions for businesses of all sizes. We partner with brokers nationwide to provide small and mid-market companies with value-adding services designed to help reduce administrative costs.
Learn more about our services ceridian.com.
Ceridian Benefits Services
Ceridian is a leading provider of benefits administration services including:
COBRA and HIPAA Services
Flexible Spending Accounts (FSAs)
Health and Welfare Services
Premium Only Plans (POP)
Tuition Reimbursement Services
Commuter Reimbursement Services
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To learn more about Florida group health insurance, Tampa group health insurance, Sarasota group health insurance, Miami group health insurance, or Orlando group health insurance, visit Grouphealthflorida.com or call 1-800-873-5713.
