Consumer-Driven Health Care
Kennion Will Help You Maximize Your Tax Savings And Comply With New Regulations
The Kennion Group is a leader in integrated consumer-driven health care (CDH) account administration. We have the financial tools designed to help business owners deal with rising cost of employee benefit plans. Our team works directly with employees, helping them set up and manage tax-free accounts and save money on health care, dependent day care and certain workplace commuting expenses.
In addition to administration of health accounts including: Health Savings AccountsHSAs, Health Reimbursement Arrangements HRAs, and Flexible Spending AccountsFSAs, Kennion's platform also includes a smart healthcare payment card, online account management, best-in-class health education tools, and an advanced claims substantiation system.
Kennion HRA
A health reimbursement account (HRA) is an employer-funded account that employers can provide to employees to assist with out-of-pocket medical expenses.
Kennion FSA
A flexible spending account (FSA) allows employees to set aside pre-tax dollars for eligible medical and dependent care expenses. This provides an average tax savings of 30-40%.
Kennion HSA
A health savings account (HSA) allows employees and employers to make tax-free contributions for eligible medical expenses. The funds rollover from year-to-year and earn interest. An HSA must be combined with a high deductible health plan.
Kennion POP
A Premium Only Plan enables employees to pay their portion of medical premiums with pre-tax dollars. Both employer and employee benefit from this type of plan:
- Employee reduces his/her taxable income,increasing take-home pay.
- Employer saves 7.65% FICA taxes on all employee contributions.
Tax-free plans provide employees with savings, flexibility and control. We add problem-solving innovation that frees employers from the administrative burden associated with tax-free benefits and gives employees the greatest benefit from their tax-free contributions. We add security, convenience and friendly, helpful support. The result is an added measure of service and ease that differentiates Benefit Resource in the marketplace.
