Company Touts BASE HRA+ as Proven Savings Method to Combat Soaring Health Costs

Online, March 23, 2011 (Newswire.com) - With employers across the country reporting 20-60% premium increases, many employers are seeking proven methods to contain health care costs. BASE®, a benefit administrator, has introduced the Health Reimbursement Arrangement to combat soaring health care costs for employers across the country.

One employer who implemented the BASE® HRA+ was faced with a 38% increase in health insurance premiums. They knew they needed to make some changes in order to keep their health insurance options affordable. After researching various insurance options, they found most plans in their target price range had significantly less coverage.

As the person responsible for benefits, Molly Varangkounh, worried that she would be unable to provide adequate coverage for her Iowa based company. She said, "Our company was lucky enough to have an agent who kept looking for better options for us, and introduced us to the idea of a Health Reimbursement Arrangement (HRA). This is how we learned about BASE®, an HRA Administrator, who explained how we could reduce our premiums without reducing our coverage."

After receiving a complimentary benefit analysis from BASE®, Molly's company elected to establish a BASE® HRA+ and was able to reduce their premium increase by 50%. They were able to capitalize on the benefits the BASE® HRA+ can provide and keep their health insurance premiums affordable for their employees.

Businesses across the country have followed suit, as there is no end in sight for rising health insurance premiums. Businesses looking to research their options are able to contact BASE® and request a complimentary benefit analysis.

By performing an analysis and outlining benefit spending to review how that spending is affected with the use of cost containment programs, such as the BASE® HRA+ and BASE® 125 Cafeteria Plan, employers are provided with the knowledge they need to make a decision that is best for their business and employees. It doesn't cost anything to perform an analysis, and it could wind up saving an employer thousands of dollars.