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February 1, 2005
Livingston-based PrintingForLess.com Announces New Health Benefit Program
Livingston, MT, February 1, 2005 - PrintingForLess.com ("PFL") has announced that it has become the first Montana company to fully implement a Health Savings Account insurance program. First authorized by Congress in the fall of 2003, Health Savings Accounts are a new option for health insurance and have two parts. The first part is a high deductible health insurance policy that covers large medical bills. The second part of the Health Savings Account is an investment account from which you can withdraw money tax-free for medical care.
"Funding for employees' health savings accounts comes from the approximately 40% lower premiums paid for insurance with higher deductibles," said Marne Reed, Human Resources Director. The funds in the accounts can be used to pay for the deductibles, co-pays or any number of health care issues not traditionally covered by health insurance. According to Reed, "Health Savings Accounts put the decision making power back in the hands of the employee and gives them an incentive to negotiate the costs of services with their providers which will further lower the ongoing cost of health care."
PFL began working on implementation of the program in October of 2003 and met stiff resistance from the area insurers. "Insurance companies and agents in this area have been slow to meet consumer demand for alternative health insurance programs," said Dan Rice, Director of Development. With a smaller population and fewer insurance carriers Montana has traditionally faced some challenges when it comes to providing cost effective coverage. "We have been in contact with several larger area employers that are trying to implement these types of programs and hope that our early adoption will help increase competition in this area."
The implementation of a Health Savings Account program continues PFL's history of offering innovative benefits to its employees. It currently operates the only state licensed, company owned child care facility in Montana, allows dogs at the work place and is rapidly expanding its workforce with 18 open jobs. Reed commented, "As the economy continues to improve in the area it is important for us to continue to offer the best benefits we can to continue to attract and retain high quality employees."
PrintingForLess.com, Inc. is based in Livingston, Montana, and is the leader in the sale of commercial printing over the Internet. PFL has pioneered a new category of business-to-business e-commerce by addressing a lucrative niche within the $120 billion per year printing industry. Recognized as one of the fastest growing private companies in America during 2002, 2003 and 2004, PFL has received national press coverage in Forbes, People, and Inc. Currently employing 110 people, PFL is continuing its expansion and expects to break ground on a new 46,000 square facility before the end of the year.