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Health Savings Accounts – An Innovative Solution to Rising Health Care Costs

For organizations large and small, rising health care costs are taking their toll on employees and on the bottom line.  For many employers, health care expenses are the number one expense next to salaries and are an increasingly worrisome business concern.

There is an innovative solution available for employers to tackle rising health care costs.  Health Savings Accounts (HSA’s) are employee-owned accounts that are a cross between a Flexible Spending Account, an IRA and a 401(k).  HSA’s are a great solution for organizations struggling to keep costs reasonable for both employees and employers.  These plans can help employers:

• Reduce or control your organization’s spending on health care benefits;

• Promote employee involvement and accountability in purchasing health care services;

• Provide a more affordable health care plan option for employees;

• Provide a savings vehicle for future health care coverage; and

• Reduce your payroll taxes when integrating HSA’s as part of your cafeteria plan.

Blue Shield of California is a leader in providing solutions and has developed a variety of high deductible health care plans that are HSA-eligible.  These plans are available to qualified Chamber member companies with five to 50 enrolled employees as part of the Chamber Program.  As a Chamber member you can also take advantage of preferred rates, no medical questions, and a variety of other plan options: HMO, PPO and POS. 

Ask your independent agent or broker to get a quote for your group on the Chamber Blue Shield Health Care Plans when you come up for renewal. Or, log on to www.sdchamber.org and go to Benefits of Membership to have a Chamber member agent contact you.  For more information on the Chamber Blue Shield Health Care Plans call (619) 544-1305.