Consumer-Driven Health Plans, otherwise referred to as CDHP, consist of a tax-advantaged funding structure paired with a health plan. These plans encourage members to use their health care benefits judiciously, while giving them the freedom to decide where their allocated dollars go. Premiums are generally lower and cost sharing with employees help make coverage affordable for everyone. HAP’s CDHP can be offered using our HMO, PPO or EPO products and can be paired with a Health Savings Account or HSA.
An HSA is an individually owned bank account that can be used to pay for qualified medical expenses such as copays, coinsurance, deductibles, vision, dental services and more. An HSA is a good choice for employers who are looking for ways to reduce health care premiums, while still providing a tax-free way for their employees to save money on their out-of-pocket health care expenses. The good news is that the funds roll over every year and once employees hit 65, they can use the money for things beyond qualified medical expenses – like retirement!
HAP offers a variety of federally qualified high-deductible HMO, PPO and EPO plans to pair with an HSA, giving employees the opportunity to save for future health care expenditures.
Our HSA plans offer:
A Health Reimbursement Arrangement, or HRA, can be offered in conjunction with a high-deductible health plan, and is funded by the employer for each participating employee. It pays for eligible health care expenses typically covered under the medical plan. Unused funds can be carried over to the next year, an incentive to employees to use their personal HRA wisely.
HAP’s HRA puts employees in charge of their health care spending and creates incentives for cost control. Once a HAP or Alliance Health and Life plan design plan is selected, HAP and our HRA partner can help establish a reimbursement account of any dollar amount to help share the cost of healthcare between employers and employees. A HAP health plan paired with an HRA provides a financial incentive to employees to adopt healthy lifestyles and make informed health care choices.
Why choose a HAP HRA?
