Texas Group HSA Plans

Affordable Group Health Insurance Options for Texas Small Business Owners

Group Health Savings Accounts, or HSA Plans, are an important new options for Texas employers and their employees. An HSA is a savings account established exclusively to pay for qualified medical expenses on a tax-free basis. A Health Savings must be used in conjunction with a qualifying High Deductible Health Insurance Plan (HDHP). These plans are beneficial to both the employer and the employee becuase the premiums usually cost less than a stand PPO or HMO plan

HSA Advantages for Employers and Employees

The high deducutible health insurance plan works in combination with the HSA to help employees pay for covered medical expenses. First, the insurance plan itself provides discounts to employees for using in-network providers. Then, the health savings account is established by employees to pay for their qualified medical expenses.

Group HSA plans offer many advantages to the employer, including lower premiums for Texas group health insurance, tax savings for contributions made by the employer into employee's HSA accounts, and in the long run, ower claims ratios as employees begin to think more about their healthcare spending.

Introducing an HSA Option into your Texas Small Group Health Plan

When first introducing an HSA option for the Texas group health plan, many employers choose to contribute a small amount into each employee's health savings account to get them started. Contributions into the employee HSA by the employer are tax-deductible to the employer. Likewise, contributions into the employee HSA by the employee are tax-deductible to the employee.

Your Texas group health insurance broker at CBG can help you set up a group HSA plan for your small business. If you are switching from a standard PPO or HMO plan, we can show you how to offer a dual option plan, giving employees the choice between trying an HSA plan or paying a bit extra out of their paycheck to keep their standard PPO. Employees like choices, and a dual option will help them become accustomed to a new concept in small group health insurance. We find that most employees will usually select the base plan offered by the employer - but giving them a choice show thems they are valued by you, their employer.

Our agency offers Texas Group HSA insurance plans with several different carriers, so we can help you shop for the best rates.P>

To talk to a group health insurance advisor about how an HSA insurance plan might fit your needs, please contact us. Speaking with one of our Texas HSA insurance experts will help you to identify the options that match your goals.