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Adding a Health Savings Account (HSA) will make your employee benefit package more attractive to attract and retain employees. HSAs mix a high deductible health plan with a tax-favored health savings account that pays expenses toward the deductible. Look at these other benefits:
Share the cost of healthcare expenses with your employees. Contributions you make to your employee HSA qualify as employer-provided medical expense coverage under an accident and health plan. You can make contributions in a lump sum or as frequently as you choose and there is no minimum! As the employer, you also benefit because the expenses:
Health Savings Account legislation requires that you make comparable contributions to all eligible employees. These contributions are considered comparable if either the same dollar amount or percentage of the deductible is contributed. In situations where contributions are made through a Section 125 Plan, the comparability rule does not apply and matching contributions are allowed. For details, see IRS Notice 2004-50 Q&A 47.
Account set up is easy! Employees can open their HSA online, by mail or in person at one of our facilities. But first we need to get your business set up for the HSA so give us a call and we will get started!
By providing a Health Savings Account to your company's benefit package, you provide your employees an opportunity to:
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