Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHRA") for Health Reimbursement Arrangement (HRAs) and defined contribution healthcare. The flagship software provides a 100% paperless administration experience to employers and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about ZaneHRA, check out our Software.
What is ZaneHRA?
Employers use ZaneHRA to open and manage their own stand-alone HRA or defined contribution health plan completely online, electronically enroll participants and print welcome kits, and monitor expenses and reimbursements in real-time.
Employees obtain their own individual health policies from a designated health insurance broker (see below), submit premium and medical expenses online, via fax, or mail, and receive same-day reimbursement via check, payroll addition, or direct deposit. Zane Benefits does not sell health insurance.
Insurance Professionals Partner with Zane Benefits and use ZaneHRA to provide clients with a cost-saving health benefits option. Insurance brokers earn compensation on ZaneHRA referrals and retain 100% of the health insurance compensation from carriers. ZaneHRA is distributed by leading health insurance carriers, agencies, brokers, and accountants.
What is GroupHRA?
GroupHRA is an application of the ZaneHRA platform that allows employers to save money on group health policies by raising the annual deductible and reimbursing employees in real-time for their under-deductible medical expenses. With GroupHRA, an employer raises the deductible on its current plan to reduce costs. The increased deductible will expose employees to higher out-of-pocket costs. So, the employer will use GroupHRA to offer a healthcare allowance to employees to cover the difference. The result is that the employer and employees pay less for the same benefits they have now.
Defined contribution health benefits and HRAs provide many advantages over traditional employer-sponsored benefits. Employers can fix their costs on a monthly basis by establishing a defined contribution health plan that gives employers and employees full control over healthcare costs – the employer’s costs are predictable and controllable, while employees are given full control over their health care dollars and choose a portable plan that meets their exact personal needs.
Employee Choice - Employer Control - Better Benefits