While I’m on this health thing, let me suggest something else you can do to help your employees stay healthy:
Yeah, it’s Lorne Zalesin inspiring me again, but this time it’s on Health Savings Accounts (HSAs). What’s not to like about these supplements to high-deductible group insurance plans? They allow employees to contribute money — tax deductible — to a fund that pays tax-free interest and permits withdrawals to pay medical bills without tax penalties. The employee can carry over all unused savings and interest year over year, without limit, even into retirement.
Your employees can bank the difference in premiums between a low-deductible plan and a high-deductible plan and have a fund to cover those deductibles when they occur.
Learn more about HSAs at the US Treasury website.