My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

Growth Strategies

Pick and Save

Get with the health-care savings programs!
Magazine Contributor
2 min read

This story appears in the March 2004 issue of Entrepreneur. Subscribe »

If you're not providing health coverage for your employees because of the high cost, consider a health-care savings program as an affordable alternative to traditional insurance. These programs use the same types of provider networks that insurance companies do, negotiating prices and passing on the savings to their clients. Some also maintain escrow accounts to pay participants' medical bills.

"When people have to pay for their own medical care, this is a way to get it at a much better rate," says Judith Henkels, president and CEO of Care Entrée, a Grand Prairie, Texas, company that offers noninsurance solutions to health-care costs.

Health-care savings programs can be used as a stand-alone benefit or in conjunction with traditional medical insurance in a way that can reduce premiums. A key element of such programs is teaching participants how to be savvy health-care consumers and get the best rate for the services they need.

Henkels says recent legislative changes have made it easier for companies like hers to offer a variety of options for small and midsize businesses that want to offer some sort of health-care benefit to employees. New products are hitting the market regularly; a good way to educate yourself on what's available is to start by doing an Internet search on "health-care savings programs." Talk to several providers as well as your insurance agent before making a final decision.

Jacquelin Lynn is a freelance business writer in Orlando, Florida.

More from Entrepreneur

New York Times bestselling author Nicole Lapin can help you pitch your brand to press and strengthen your media training.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Create your business plan in half the time with twice the impact using Entrepreneur's BIZ PLANNING PLUS powered by LivePlan. Try risk free for 60 days.

Latest on Entrepreneur