Understanding Health Payment Accounts In Beckley, Huntington, Charleston, Morgantown, Parkersburg, WV, Palm Beach, FL, and the Surrounding Areas
Health insurance in Beckley, Huntington, Charleston, Morgantown, Parkersburg, WV, Palm Beach, FL, and the surrounding areas continues to be both necessary and expensive, and while most get their health insurance through their employer, there can still be times when using the health insurance can be expensive due to copays, coinsurance, and more. At Mark E. Snapp & Associates, we introduce employers to Health Payment Accounts offered through HealthEquity in partnership with Paytient.
Health payment accounts provide needed funds up front while offering an easy repayment plan to keep things within budget. This saves employees from having to take a hardship loan from their 401 (k) or other retirement sources, or from having to take out a personal loan with interest, or try to secure funds from family or friends. Health payment accounts bridge this gap and provide the necessary funds when they are needed, allowing people to seek medical treatments and improve their quality of life. Contact us today to learn more about this new augmentation to your health insurance offering.
How Health Payment Accounts Work Alongside Insurance
It is important to note that health payment accounts through HealthEquity and Paytient are not health insurance. Instead, they are a supplement to health insurance that allows employees to pay for fees up front and then repay that balance over time using a variety of options. For example, an employee might have a deductible of $1,000 that they need to pay when using their health insurance, and a health payment account can cover that deductible now and allow the employee to pay this balance off over time as they choose.
Rather than delaying medical help until they have the needed amount of money, health payment accounts allow them to seek treatment as early as possible, heading off more costly issues that will require more time and money compared to dealing with them early on. This keeps your employees in better health and reduces time away from work, while increasing quality of life overall.
Flexible Uses Beyond Traditional Healthcare
While it is often used in connection with health insurance, these health payment accounts through HealthEquity and Paytient can be used for a variety of different services, including dental bills, vision needs, veterinarian services, and more. Payments of balances can be done via payroll deductions, health savings accounts, or bank account drafts. This is a great employee benefit to include in your benefits package that directly complements your health insurance offerings.
From making it easier to cover out-of-pocket expenses to having flexible repayment options and more in Beckley, Huntington, Charleston, Morgantown, Parkersburg, WV, Palm Beach, FL, and the surrounding areas, a health payment account is a great addition to your employee benefits package. Mark E. Snapp & Associates can help you to integrate this new offering for all of your employees. Contact us today to learn more about adding health payment accounts for your team.
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