Employers now have an alternative to traditional group health insurance plans. They can provide workers with a fixed monthly allowance to buy individual coverage. This allowance can be used tax-free for health insurance premiums or medical expenses. A new initiative has been announced, which introduces a federal regulatory model.

Further details about this program are available. It is backed by the state and allows employers to define their monthly contribution.

The initiative was officially announced by state officials and a federal administrator. More information can be found through the source.