A Win-Win Benefit
With healthcare costs continuing to rise, a health savings account (HSA) is a smart way to save for qualifying medical expenses.
Most adults under 65 who are not enrolled in Medicare and are covered under a high-deductible health plan (HDHP) can qualify for an HSA. HDHPs have higher deductibles and out-of-pocket expense limits than traditional health plans but typically have lower premiums.
Our HSAs have competitive interest, tax advantages* and no “use it or lose it” policy.
Business HSA Features
In addition to lower premiums, employees and employers can take advantage of the following benefits:
- Employers can make contributions to their employees’ HSAs.
- Employer and employee contributions may be tax deductible.
- Unlike a flexible spending account (FSA), employees will not lose the money in their HSA if it isn’t used by the end of the year.
- Unused HSA balances can be rolled over into retirement.
- Upon retirement, employees may continue to use their HSA funds tax-free if the funds are used to pay for qualified medical expenses.
To learn more about how our dedicated team can assist in creating personalized offerings for you and your business, please contact a Business Services Representative at 414-867-6322 or fill out the form below.