Don't know what an HRA is? Well, you soon will. HRAs, which are essentially business expense accounts for healthcare, have been around since 2002. However, most Americans have no idea they exist. Zane Benefits, a technology company based in
ZaneHRA is an "HRA," or health reimbursement arrangement, that allows employers to get out of the health insurance business. With ZaneHRA, employers set aside a certain sum every month, say
"The primary reason most businesses have not already switched to an HRA is they don't know the option exists," says Lindquist. "We have dedicated substantial resources to change that."
Lindquist isn't kidding. The Zane Benefits website (http://www.zanebenefits.com) is full of information and educational resources for those wanting to learn more about HRAs and Healthcare Reform. The free resources range from whitepapers (see the HRA 101 Whitepaper) and webinars (see How Healthcare Reform Affects CPAs) to blogs (see the Employee Health Benefits Blog) and guides (see the Employer's Guide to Defined Contribution) dedicated to specific topics.
Some forward-thinking employers have embraced "getting out of the health insurance business" and are already proclaiming the benefits.
Many others have provided case studies that share a similar message: the ZaneHRA philosophy is the solution to ObamaCare.
Lindquist likens Zane's philosophy to the shift in recent decades to 401(k) plans, where employers provide tax-deferred dollars, and it's up to employees to invest them. "Employers will be relieved of a crushing moral and financial obligation that they should never have taken on in the first place," he says.
Critics say Zane's HRA doesn't take account of those people who can't get individual coverage because of previous or existing illnesses.
Lindquist is not alone. New studies, including one from McKinsey, predict U.S. businesses are gearing up to abandon traditional health coverage in favor of the "defined contribution" HRA model. That's because employees no longer need employers to purchase quality health insurance, and, starting in 2014, employees earning less than 400% of the FPL (
Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHRA") for Health Reimbursement Arrangements (HRAs). The flagship software allows employers to offer a "business expense account" for healthcare. Zane Benefits does not sell health insurance. For more information about ZaneHRA, see http://www.zanebenefits.com.
Read the full story at http://www.prweb.com/releases/2012/12/prweb10197938.htm
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