A partnership was announced this morning by eHealthinsurance and a small business advocacy group that seeks to fix a serious the small business problem: the lack of health insurance.
EHealthinsurance has partnered with the National Federation of Independent Business to offer a customized technology designed to facilitate the use of HSAs.
EHealthinsurance represents nearly 200 individual health insurance carriers and has about 9,000 to 10,000 different health insurance plans listed on its site.
EHealth Senior Vice President Sam Gibbs said the Mountain View, Calif.-based company began noticing that over the last 15 months many small businesses were no longer purchasing group health insurance plans and instead were signing up for individual coverage.
EHealth has created a tool that encourages a business owner to contribute to an employee's HSA. For example, if a company has 10 employees, the business owner may decide that he could contribute $500 per employee per year toward HSAs.
Individuals are not penalized if they use HSA funds to pay for qualified medical expenses and any unused funds can be rolled over if they are not used by the end of the calender year.
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