Consumer Driven Health Care—What’s Left in Your Wallet?

Written by Michael G. Kirwan, ChFC, CLU
Published Winter 2008 in the Bergen, Union and Morris County Newsletters


Over the last, now nearly four decades, I have been privileged to have worked with the Medical Community and, in particular, with the engines and drivers of the most resourceful, brightest and finest HealthCare givers in the World, our physicians.

As we hurdle into the next decade(s), things will have to change. Many of us can recall the late 80’s and early 90’s, when the physicians fell prey to the lure of the hospitals taking over their practice, relieving the practitioner’s from the bondage of expenses, and headaches, and returning their hectic lives to normalcy? The minute the entrepreneur, self–employed, self–motivated, proud and involved owner was removed from the equation, the business, yes business, began to fall apart and if you were there in the beginning, you will recall the end, or is it the beginning AGAIN!

Next to your Payroll and perhaps Malpractice Insurance, are the abhorrent and ever escalating costs of Health Insurance. Much like the physician practitioner’s who successfully recaptured their practices, HSA’s, Health Savings Accounts or HRA’s, Health Reimbursement Accounts can achieve similar results in recapturing your bottom–line.

  • HSA’s– 40%–50% savings over current PPO/POS plans. In and Out of Network Benefits, No Referral
  • Can be structured for the highly compensated
  • Available in combination with (in addition to) your current plan and carrier
  • HSA/IRA Optional Contribution–up to $7,650 per year –“Tax Deductible” and Deferred Savings”
  • “Use It or Keep It!” vs “Use It and Lose It” – your account is yours to keep
  • “Tax Free Withdrawals” to pay optical, dental, orthodontia and more!
  • “Tax Free Withdrawals” to pay for Long Term Care on a “Tax Deductible” basis

Our firm has been on the cutting edge of these avant–guard HSA and HRA Programs since their inception in 1997 and the success we have achieved for our clients is directly attributable to the Savings and Services we have been privileged to provide, as one entrepreneurial service provider to another.

Continuing to expand our cutting edge services, we are constantly in pursuit of new ideas and partners that can further enhance the products and services we uniquely provide exclusively to our clients. In this regard, we will shortly be launching a first in the HSA industry. Our HSA clients will now be able to combine the availability of a Full Service Brokerage Account with the assistance of a Professional Money Manager to enhance the performance of their ever accumulating, Tax Deductible and Tax Deferred Savings in their HSA/IRA Accounts.

Anticipated additional services this year will include the promotion of Discounted Association Group and Individual Disability Plans, with “True Your Specialty” definitions and Discounted Association “Tax Deductible” Long Term Care (LTD) Programs with several of the premier carriers in the business.

Let us show you how we can assist in keeping more in your wallet!


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