Archive for October 7th, 2010

Blue Cross Blue Shield Helps Small Businesses

Thursday, October 7th, 2010

Blue Cross Blue Shield announced on it’s website that Independence Blue Cross in Philadelphia has 25 new health insurance plans that will really help small businesses with 2 to 50 employees.  The press release, “Independence Blue Cross Unveils New Health Plan Options for Small Businesses,” describes the Blue Solutions plans that became available on October 1.  Blue Solutions are available as HSA plans, or Health Savings Accounts, copay, and deductible plans.  All of them have prescription drug coverage included as well.  Many people who did not previously have access to HSAs will now, which is crucial as these types of insurance plans skyrocket in popularity.

HSAs are a great way for employers and employees to receive quality health care in an affordable way.  Either or both make contributions to this account that pays for health expenses.  Since consumers are paying for the health care needs until meeting their deductible HSAs are having a positive effect with people living healthier lifestyles and taking control over their health.  There are many tax advantages when you compare health insurance with an HSA.  Employers consider contributions business expenses for tax purposes and employees reduce their taxable income by contributing to the account.  Any interest earned is free of taxes when used for qualifying expenses and reimbursed medical expenses that qualify are also tax free.

The Blue Solutions plans comply with all of the recent health care reform changes that are taking place currently and into the future.  They also have a wide array of options within the plans such as choosing HMO, PPO, High-Deductible and other plans.  Employers and employees have the option for any type of coverage they desire, depending on how much they are willing and able to spend.  Promoting healthier lifestyles is important to Blue Cross Blue Shield so they have added Healthy Lifestyles components like gym membership reimbursement and help to cover the expense of quitting smoking.  There is a Blue Solutions plan available to meet anyone’s needs.