eHealth (NASDAQ:EHTH) has released BusinessHSA, an online health insurance platform for small businesses that cannot afford group health insurance. The new solution allows employers to co-fund and administer their contributions to employee individual health savings accounts (HSA).
The BusinessHSA platform provides online payroll administration to manage both employer and employee HSA contributions over time. It gives employees the ability to open an HSA, and research and apply for HSA-eligible health insurance plans. Employees can manage their HSA bank accounts online and have an eHealth-branded debit card.
"After ten years of working with employers, we know that most of them want to provide healthcare assistance for their employees, but fewer and fewer can afford a traditional group health insurance plan," Gary Lauer, president and CEO of eHealth, said in a statement. "We designed BusinessHSA to open up possibilities, to give these employers an innovative, easy and cost-effective alternative to group health insurance."