Benefits for a balanced budget: Give your employees flexibility and save money, too.
Health savings accounts (HSAs) are quickly becoming the tax benefit solution of choice.
Why? Because HSAs offer a triple tax advantage for account owners:
1. Contributions reduce taxable income.
2. Earnings on the account (and investment options) are built up tax-free.
3. Qualified medical distributions are not subject to taxation.
HSAs, aka a medical IRA, can be used as a retirement vehicle or to pay for medical expenses after retirement. At PrimePay, we offer multiple HSA trustee options to help figure out your clients' needs.
HSA accounts are created automatically through the enrollment process. The HSA trustee will furnish disclosures by mail.
Here are a few key features:
• Compliant debit card that pays for qualified expenses.
• Multi-account debit card technology.
• Investment opportunities.
• Complimentary POP documents to allow for employer FICA savings.
• A dedicated client success team.
• HR Advisory: All PrimePay clients have access to our comprehensive HR resource to help maintain compliance, for free.
Bonus: Let us administer your payroll, COBRA, and HSA together for a streamlined approach.
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