View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
May 25, 2012updated 13 Apr 2017 8:44am

Empire Life adds health care spending account

The Empire Life Insurance Company (Empire Life) has said it is adding a traditional health care spending account (HCSA) to its group products A health care spending account is a product that can help employers manage costs, enhance a plan and offer employees more choice Empire Life has offered an Incidental Health Benefit, and is now expanding its offering to include a traditional HCSA.

By Ronan Mccaughey

The Empire Life Insurance Company (Empire Life) has said it is adding a traditional health care spending account (HCSA) to its group products.

A health care spending account is a product that can help employers manage costs, enhance a plan and offer employees more choice.

Empire Life has offered an Incidental Health Benefit, and is now expanding its offering to include a traditional HCSA.

According to Empire Life, a HCSA can help business owners manage escalating health care costs.

This is because business owners decide how much to allocate to employees and know that amount is fixed, unlike insured benefits where the premiums may rise every year in line with rising costs and utilization.

Empire Life offers two standard HCSA options: a plan that allows employees to carry forward unused credits in their account, and a plan geared towards small businesses that requires employees to use the benefit credits within a calendar or benefit year.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Life Insurance International