A Health Savings Account (HSA) can be a great way to reduce the financial burden of rising health care costs, both for employees and business owners. For employees, the primary benefit of an HSA is that it allows for contributions to the plan–which are then used to pay for health care costs–on a pretax basis. By incorporating a high-deductible health plan along with an HSA, many businesses have seen a significant drop in the overall and individual cost of providing employer-sponsored benefits and health insurance.
Need a good resource about offering an HSA and how it can benefit your business? Click here to learn the basics of how it works and the different components of a high-deductible plan.
Here are some of the other features and benefits of offering a competitive HSA plan to your employees:
These are just a few of the ways than an HSA can be structured to maximize the benefit to your business and employees. Health Savings Accounts cover a range of tax-exempt options, including Flexible Spending Accounts (FSA) and Health Reimbursement Accounts (HRA).
The website for the National Conference of State Legislators has a wealth of information about HSA limits and requirements. Click here to learn more about the regulations and laws that apply to offering a group HSA!
Have questions about or need a cost estimate for offering a qualified HSA to your employees? Call us today at the number at the top of the page to learn how we can help! All estimates and consultations are FREE of charge and we also offer price quotes at no charge through our online request form!
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