Consumer Directed Health Plans
 by: Michael Ertel

Most of you have heard about “consumer directed health plans”. The Bush administration has been a strong supporter of this concept as a way to get a handle on soaring healthcare costs. The recent inaugeration of Mr. Bush signals that consumer directed health plans will increasingly make up a larger percentage of group medical plans over the next several years. In the past, consumer directed plan designs have taken on many forms: Medical Savings Accounts (MSAs), Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs) and Health Savings Accounts (HSAs).

Many experts consider HRAs and HSAs to be the first generation of viable consumer directed health care products. HRAs are typically paired with a high-deductible health plan and are employer-funded Section 105 defined contribution plans. HSAs are the latest version of consumer directed health care plans. The core components of HSAs include a high deductible insurance product and a cash spending account. HSAs combine the pre-tax treatment of a FSA, the portability and roll-over characteristics of a 401(k), and the tax-free distributions of a Roth IRA.

One of the main goals of any consumer directed health plan should be to get the consumer more involved in both the cost and statistical outcomes of certain healthcare procedures. Informed healthcare consumers will make wise healthcare decisions and typically these decisions will result in both lower costs and improved quality.

Although the advantages of HRAs and HSAs can be substantial, employers will want to do their homework prior to setting them up. Effective implementation will require a clear understanding of the consumer directed healthcare plan that best fits your organization as well as the administrative requirements. Employee education will be essential. Companies will also need to look into how the creation of a HSA or HRA may affect their HIPAA medical privacy compliance requirements.

Just like most endeavors, the successful implementation of a HSA or HRA will greatly depend on how much research your organization does on the pro’s and con’s of each alternative. The type of consumer directed health plan that best fits your company will depend on a combination of your corporate structure as well as the overall objectives of your group health insurance plan.

Although consumer directed healthcare plans are becoming very familiar to human resource managers and other benefit professionals, remember that your employees and their dependents will need a substantial amount of education and communication.

About The Author

Michael Ertel is the founder of http://www.MedicalInsuranceNow.com which is a website that assists individuals and small business owners by providing side by side comparisons of health insurance alternatives.

MErtel@medicalinsurancenow.com

Austrian Philharmonic Silver Coin

Ever since the economy began to decline, precious metal values have gone through the roof. Gold and silver are the commodities of the decade, and probably will be for quite awhile longer. If you have been interested in investing in gold or silver, you need to make the right choice. First of all, you need to find gold/silver that is pure or close to pure. Precious metals tainted with too much standard metals cease to be precious, and their value drops like a rock. A great choice for investment is the Austrian Philharmonic Silver Coin. This popular coin was released shortly after the Gold Philharmonic, and mimicked much of the Gold coin’s popularity.

The Austrian Mint currently produces the Austrian Philharmonic Silver Coin, and the coin has only been released to the general public in very limited volume. The coin is very similar to the Austrian Philharmonic Gold Coin, and offers the same investment security as its golden cousin, at a much lower price. Silver continues to rise in value just as gold does, and is ideal for those who do not want to spend too much.

The Austrian Philharmonic Silver Coin consists of 100% pure silver. This means that each 1 once coin is 1 ounce of pure silver. This is NOT “solid silver”. Solid silver is a term used by many coin dealers to trick people into thinking that it is pure. Solid silver means that the amount of silver found in one section of the coin is the same in every area, or in other words, it is an even mix of silver and whatever other metal is used. Keep in mind that the Austrian Philharmonic Silver Coin is bullion, and not just a normal collector’s item. Bullion is a valid investment as it provides stability that even money cannot buy. Several people who used to swear by stocks and funds now have turned their attention to bullion and raw metals in order to steer clear of the incredibly volatile stock market. Also, as more people buy bullion, the price will go up. So, if you have been planning an investment, now is the time.

This coin is loved by many, and for good reason. It is a beautiful coin, and on top of that, it is a solid investment. The Austrian Silver Philharmonic coin, with it’s international backing familiar design, is a truly great alternative investment to any conventional investment you may be considering.

By: ttp://www.articledashboard.com/profile/Silverngold/113084>Silverngold

Article Directory: http://www.articledashboard.com

Buy Philharmonic Silver Coins for collection or investment. Check out our Silver Bullion auctions.

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