Health Savings Accounts were developed to help address the issue of rising health care costs. With money-saving features and special tax benefits+, these accounts are very popular with employers and their employees.
HSAs CAN ALSO PROVIDE SIGNIFICANT ADVANTAGES TO YOUR EMPLOYEES:
- By participating in a High Deductible Health Plan (HDHP), employees can enjoy relatively affordable health insurance premiums.
- They retain control over the account and can decide how to use the money.
- An HSA is completely portable, meaning an employee can keep the account even if changing jobs, changing medical coverage or becoming unemployed.
- There is no “use it or lose it” provision. The funds roll over from year to year.
*Annual Percentage Yield (APY). Dividends compounded and credited monthly. Rates subject to change without notice.
+Before you open your account, consult your tax advisor for current IRS laws and regulations associated with these types of accounts and whether they are a suitable investment for your financial situation.