Health Savings Account
A Health Savings Account (HSA) is an individually-owned and managed account that allows participants with Qualified High Deductible Health Plan (QHDHP) to pay for qualified medical, dental, vision, prescription, and deductible expenses with tax-free money.
BPC’s HSA Administration Services include designing a plan that meets the organization's goals and IRS guidelines, working with health insurance agents and providers of the client’s choice, preparing HSA plan documents, Summary Plan Descriptions, enrollment and claim forms, and administering the day-to-day operations of your HSA.
The HSA Triple Tax Advantage
• Pre-tax contributions decrease taxable income meaning more money in your pocket.
• Investment accounts earn tax-free interest meaning more money for the future.
• Paying for eligible expenses with tax-free money increase purchasing power.