Examples of savings available with an Assureflex HSA,
shown as percentage of the Cost of Claims processed:
Assureflex HSA Option
providing Employee with $1,000.00 Tax Free benefit
$1,100.00 Premium less $100.00 Administration = $1,000.00 for Claim
Employer Expense = Cost of Claim plus 10.00% (plus Taxes)
Employer Refund Option
providing Employee with $1,000.00 after-Tax benefit
Example 1.
20.05% Marginal Tax Rate (at $39,020 and less)
$1,250.78 Salary less $250.78 Tax = $1,000.00 for Claim
Employer Expense = Cost of Claim plus 25.078% (plus Payroll Taxes)
Example 2.
32.98% Marginal Tax Rate (at $68,719 to $78,043)
$1,492.09 Salary less $492.09 Tax = $1,000.00 for Claim
Employer Expense = Cost of Claim plus 49.209% (plus Payroll Taxes)
Example 3.
46.41% Marginal Tax Rate (at $132,406 plus)
$1,866.02 Salary less $866.02 Tax = $1,000.00 for Claim
Employer Expense = Cost of Claim plus 86.602% (plus Payroll Taxes)
Group Insurance Option
providing Employee with $1,000.00 Tax Free benefit
Example 1.
80.00% Target Loss Ratio (at 50 plus Employees)
$1,250.00 Premium less $250.00 Administration = $1,000.00 for Claim
Employer Expense = Cost of Claim plus 25.00% (plus PST in Ontario)
Example 2.
75.00% Target Loss Ratio (at 25 to 50 Employees)
$1,333.33 Premium less $333.33 Administration = $1,000.00 for Claim
Employer Expense = Cost of Claim plus 33.33% (plus PST in Ontario)
Example 3.
66.67% Target Loss Ratio (at 10 to 25 Employees)
$1,500.00 Premium less $500.00 Administration = $1,000.00 for Claim
Employer Expense = Cost of Claim plus 50.00% (plus PST in Ontario)
Example 4.
60.00% Target Loss Ratio (at 3 to 10 Employees)
$1,666.67 Premium less $666.67 Administration = $1,000.00 for Claim
Employer Expense = Cost of Claim plus 66.67% (plus PST in Ontario)
Target Loss Ratio equals Claims as % of Premiums,
and varies depending primarily on the group size.
Assureflex has
- no Set-up Fees or Annual Fees
- no Advanced Funding Requirements
- no Pre-paid Monthly Premiums
just Claims plus 10% (plus tax), on a "pay as you go" basis.