Health Savings Accounts Overview
Help Your Employees Save on Medical Expenses for Today and in the Future:
Designed to be used in conjunction with a high-deductible health plan (HDHP), HSAs are quickly becoming the go-to employee benefit account. HSAs are triple tax-advantaged: employees will not pay taxes on contributions, nor will they pay taxes on interest earned or upon withdrawal for qualified expenses. As an employer, you’ll save on high insurance premiums by offering an HDHP.
Perks of the Plan:
• Short-term advantages—decrease costs and payroll taxes for employer and employee.
• Long-term advantages—employees can rollover and invest tax-free contributions to plan for the future.
• Multiple payment options—debit card, online bill pay, checkbook and online transfers.
• Fund flexibility—accounts are portable, and funds can be used for any qualified health expense.
• Innovative resources—claim feed from health carrier, integrated investment platform, mobile app, and multiple banking partners.