Why haggle with group plan premiums and administration when you can offer a Health Reimbursement Plan? The Zane Benefits software platform is accessed online through an easy-to-use login. Once your business account set up on the platform, providing better benefits is as easy as four simple steps:
1. You set a monthly allowance — a "defined contribution"—that accrues in your employees’ healthcare balance. Allowances are typically based on family status or job criteria.
2. Employees use the health insurance marketplace to choose their own individual insurance policy. Since they are enrolling in their own plan, they get to choose their own coverage and benefit levels—according to their individual needs.
3. The software verifies premium expenses submitted by the employee, and you use the system to reimburse the employee for their health plan costs—up to their available healthcare balance.
4. The software works alongside your payroll system, and handles the verified reimbursements as tax-free—facilitating tax savings for both parties.
Small business owners can avoid the hassle and expense associated with traditional employer insurance plans by reimbursing health premiums instead of paying them. Watch this video to learn the four simple steps for setting up a legally compliant reimbursement health benefits plan.
Setting up your Zane Benefits subscription is a simple, paperless process. Most of our clients are able to offer ZaneBenefits to their employees in less than 15 minutes online. Your subscription also helps you comply with applicable legal regulations, and our customer service staff is second-to-none at assisting your through transitional questions or concerns.
Questions? Give us a call 1-800-391-9209