HSAs are Quickly Becoming the Tax Benefit of Choice!
Employees covered under a High Deductible Health Plan (HDHP) are eligible to participate in an HSA -- a tax-advantaged savings and investment vehicle that offers three separate tax benefits:
* Contributions are pre-tax
* Withdrawals for qualified expenses are tax-free
* Earned interest on investment funds is tax-free
HSAs have more advantages than an FSA because they have higher annual contribution limits, no use-it-or-lose-it rule, no limit on carryovers, and offer an investment option in which earnings grow tax-free! With no risk of forfeiture, employees can maximize tax savings by contributing up to the annual limit every year. They use this tax break to pay for current healthcare expenses, and are able to plan for future expenses. And without the pressure to spend unused funds before year-end, employees are able to make better, smarter healthcare choices.
The TASC HSA Plan (full service) provides comprehensive administration for every aspect of the Plan, and delivers value-added features to ensure optimal customer experience. Limited Service HSAs and Plan Only HSAs are options also.
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