Blog Post: CHOICE ADMINISTRATORS® LAUNCHES HSA CALIFORNIA

 ORANGE, CA – Sept. 30, 2008 — CHOICE Administrators ® , a division of The Word & Brown Companies, today announced the launch of HSA California – a new program that offers employers with 2-50 employees a way to minimize insurance costs and offer staff excellent medical benefits, federal tax-advantaged opportunities to pay for qualified medical expenses, and the ability to save on a federal tax-free basis for the future. 

“HSAs are becoming more and more popular for employers and employees looking for ways to reduce insurance costs,” said Ron Goldstein , president of CHOICE Administrators. “HSA California is unique in the marketplace because it allows employers to offer HSA-compatible benefits through two health plans – Health Net and Kaiser Permanente – and pay only one monthly insurance premium.” 

Health Savings Accounts (HSA) were established by the federal government in 2004 to give employers and individuals a way to lower health insurance premiums and save for future health care expenses – tax-free. HSAs allow people to contribute pre-tax money to special interest-earning or investment accounts if they are enrolled in a high-deductible health insurance plan. These HSA funds can be used to pay for qualified out-of-pocket medical expenses such as medications, doctor visits, hospital stays, eyeglasses, and even weight-loss programs.

HSAs are great savings tools because contributed funds rollover year after year, unlike Flexible Spending Accounts (FSA). After age 65, funds can even be used to pay for non-medical expenses and are taxed at an individual’s regular income tax rate. 

With HSA California, employers and employees enjoy these benefits and more. Employers pay only one monthly bill for all services and can apply the money they save on insurance premiums to employees’ HSA accounts. They even receive free access to online human resources support.

 Employees benefit from HSA California because they can choose from Health Net and Kaiser Permanente health plans at different deductible levels and purchase dental, vision, life, and section 125 benefit plans. They receive prescription discounts, participation in a free hearing program, and access to wellness360™ – an online health and wellness tool that financially rewards people for utilizing the site. 

Employers and employees can also create self-managed HSA accounts through Bancorp Financial Center , making it easy for participants to set-up, fund, and manage everything online.

 For information, call 1.866.251.4625 today or login to www.hsacalifornia.com.

About CHOICE Administrators ®

CHOICE Administrators ® , a division of The Word & Brown Companies, is based in Orange , Calif. It is the nation’s leader in developing and administering employee-choice health benefit programs for employer groups of all sizes. Serving approximately 180,000 members through nearly 12,000 employers, CHOICE Administrators enables business owners to control their health care budgets through defined contribution and single-source administration, while allowing employees to pick from a variety of health insurance plans.

CHOICE Administrators’ programs include CaliforniaChoice ® , CaliforniaChoice 51+, Kaiser Permanente Choice Solution, and HSA California – successful consumer-driven health care programs for small- and mid-sized employer groups; and Contractor’s Choice ® , a unique program for employers on public works projects.

About The Word & Brown Companies

The Word & Brown Companies, headquartered in Orange , Calif. , provides services to nearly 55,000 employers covering more than 6 million people across the nation. During its more than 20-year-span, The Word & Brown Companies has become the nation’s recognized leader in developing and offering innovative technology and health benefit plan models and the nation’s most sophisticated employee benefits services to companies of all sizes. The Word & Brown Companies includes: The Word & Brown General Agency; CHOICE Administrators ® ; CONEXIS; and Quotit ® Corporation.

 

Visit http://wordandbrowncompanies.com for more information.