Consumer Directed Health Plans
Most of you have heard about "consumer directed health plans". The Bush administration has been a strong supporter of this concept as a way to get a handle on soaring healthcare costs. The recent inaugeration of Mr. Bush signals that consumer directed health plans will increasingly make up a larger percentage of group medical plans over the next several years. In the past, consumer directed plan designs have taken on many forms: Medical Savings Accounts (MSAs), Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs) and Health Savings Accounts (HSAs).Many experts consider HRAs and HSAs to be the first generation of viable consumer directed health care products.
HRAs are typically paired with a high-deductible health plan and are employer-funded Section 105 defined contribution plans. HSAs are the latest version of consumer directed health care plans. The core components of HSAs include a high deductible insurance product and a cash spending account. HSAs combine the pre-tax treatment of a FSA, the portability and roll-over characteristics of a 401(k), and the tax-free distributions of a Roth IRA.One of the main goals of any consumer directed health plan should be to get the consumer more involved in both the cost and statistical outcomes of certain healthcare procedures. Informed healthcare consumers will make wise healthcare decisions and typically these decisions will result in both lower costs and improved quality.Although the advantages of HRAs and HSAs can be substantial, employers will want to do their homework prior to setting them up.
Effective implementation will require a clear understanding of the consumer directed healthcare plan that best fits your organization as well as the administrative requirements. Employee education will be essential. Companies will also need to look into how the creation of a HSA or HRA may affect their HIPAA medical privacy compliance requirements.Just like most endeavors, the successful implementation of a HSA or HRA will greatly depend on how much research your organization does on the pro's and con's of each alternative. The type of consumer directed health plan that best fits your company will depend on a combination of your corporate structure as well as the overall objectives of your group health insurance plan.Although consumer directed healthcare plans are becoming very familiar to human resource managers and other benefit professionals, remember that your employees and their dependents will need a substantial amount of education and communication..
Michael Ertel is the founder of http://www.MedicalInsuranceNow.com which is a website that assists individuals and small business owners by providing side by side comparisons of health insurance alternatives.MErtel@medicalinsurancenow.comFinancial Planning for the MTV Generation
(ARA) - So, you were born between 1965 and 1978. Are you tired of the Generation X label and being portrayed by the media as a cynical, Xtreme sports-loving, body-piercing slacker? If you're one of the 76 million Americans that are considered to be "Xers," you may see yourself more as an independent, career-minded, technologically savvy, young adult. As someone between the age of 22 and 35, "Xers" most likely tune out the thousands of marketers with retirement messages geared towards "boomers." Insurance providers, investment companies and financial planners are virtually ignoring the millions of Americans considered to be "Xers." Meanwhile this misunderstood group continues to buy homes and select mortgage companies and retirement plans with little attention and relevant advice.So, are boomers the only generation that should be concerned about their future? Absolutely not. Planning for your future can be tough for anyone, no matter what his or her age. But individuals between the ages...
Financial Planning for the MTV Generation
Ira > Financial Planning for the MTV Generation
The Basics of Business Record Keeping
As a business owner, you may rely on an outside accountant to do your taxes and prepare financial statements. However, it's best that you or someone in your organization take on the responsibility of keeping an accurate set of financial records. Keeping good records yourself, no matter how unpleasant it may seem, will minimize the costs of paying an accountant and allow you more control of your financial information and operations. Maintaining good records can also help you avoid headaches at tax time by keeping track of your receipts and other records throughout the year. This can help you remember the various transactions you made during the year so you can properly document and maximize your tax deductions.
Normally, tax records should be kept for three years, but some documents - records relating to a home purchase or sale, stock transactions, IRA and business or rental property - should be kept longer.Good record keeping not only enables the IRS to evaluate your business...
The Basics of Business Record Keeping
Ira > The Basics of Business Record Keeping
Kindred Media Group and Solaris Entertainment Announce Production Begins on 'Superheroes'
West Hollywood, CA (ContentDesk) October 28, 2005 -- Kindred Media Group announced today that it has partnered with Solaris Entertainment to begin production on writer-director Ed Radtkes Superheroes, the first film to be financed at the production stage by Kindred.Produced by Greg OConnor ( Tumbleweeds, Miracle ) and Solaris exec Josh Fagin with industry veteran Ira Deutchman, Superheroes is an lyrical and imaginative independent feature film that tells the story of a thirteen-year old orphan thief who escapes the mean streets of New York by stealing video cameras with his friends and retreating into the documented lives of New York City tourists. Superheroes began production on October 15, 2005, and stars Jeremy Allen White, Peter Appel, Justin Soto, Samantha Hosie-Leung, Gil Rodgers, and Ed Seamon. OConnor is also producing the upcoming Pride & Glory for New Line, which will star Colin Farrell, Edward Norton, and Nick Nolte. Ed Radtkes last film, the highly acclaimed...
Kindred Media Group and Solaris Entertainment Announce Production Begins on 'Superheroes'
Ira > Kindred Media Group and Solaris Entertainment Announce Production Begins on 'Superheroes'
Deadline Near For Taxpayers with an Extension to File
(ContentDesk) August 12, 2004 -- For the almost 8.5 million taxpayers who opted in April to get an automatic extension of time to file their 2003 federal income tax return, the deadline to file those tax returns is August 16, 2004.Those who cannot meet the August 16th deadline can apply for an additional two-month extension, which would give them until October 15th.
However, there's no guarantee that the IRS will grant them an additional extension. If an application for an additional extension is not approved, an individual must file his or her tax return by August 16, or face paying a late filing penalty of 5 percent per month on the unpaid tax.Individuals who own a business have until their tax filing deadline to save on 2003 taxes by contributing to a SEP-IRA retirement plan, says Daniel Lamaute, retirement specialist at Lamaute Capital InvestSafe.com.
The SEP IRA contribution limit for 2003 is $40,000 or 25% of compensation, whichever is less.
A free application...
Ira > Deadline Near For Taxpayers with an Extension to File
The Main Goals A Financial Plan Should Accomplish
This article is going to briefly touch on the main things a financial plan should accomplish. You don't need a professional to help you draw up your own financial plan, but you might need professional advice and help to put some of your plans into action. Such as advice on your insurance needs to make sure you, your family and your home are adequately covered, tax advice to make sure you are not paying too little or too much, investment advice to ensure that you can reach the amount you would like to retire with while still putting money aside for your children's education and advice about what to put or not to put in your will.Those are the things you should speak to a professional about, but you should have your financial plan worked out before you speak to one so that you can let them know exactly what you wish to accomplish with your plan. Your goal is financial success; your method for reaching that goal is your financial plan. After you have drawn up your plan is the best time...
The Main Goals A Financial Plan Should Accomplish
Ira > The Main Goals A Financial Plan Should Accomplish
Five Top Colorado Bioscience Company CEOs Present at This Year’s BioWest Investor Forum
Denver, CO (ContentDesk) July 28, 2006 -- The Colorado BioScience Association (CBSA) and the Colorado Office of Economic Development and International Trade (OEDIT) jointly announce participation of the following Colorado bioscience CEOs in the BioWest Investor Forum on August 24, 2006 (3:45 - 5:45 p.m.), at the Colorado Convention Center:
Paul Berns, Allos Therapeutics; John Serino, Encision; Bill Freytag, Myogen; Patrick Mahaffy, Pharmion; and Ken Collins, Replidyne. This is the first time that a group of CEOs at this level have presented in one place at one event in Colorado, says Denise Brown, CBSA Executive Director. They will discuss their newest clinical findings, regulatory approvals and other relevant investor information. Conference registration is required in order to attend the Investor Forum.
Complete registration details for the BioWest Conference and Expo are available at http://www.BioWestConference.com."The...
Ira > Five Top Colorado Bioscience Company CEOs Present at This Year’s BioWest Investor Forum
Consumer Directed Health Plans Ira
Consumer Directed Health Plans shoes Ira
insurance Consumer Directed Health Plans Ira
Consumer Directed Health Plans