5 Benefits of Health Savings Accounts
Triple Tax Advantage for Your Employees
Your employee's contributions are tax-deductible, funds grow tax-free, and all interest earned is tax-deferred. An HSA is a great alternative to an individual retirement account (IRA).
Affordable Health Care Option
The premium percentage is often lower on a high deductible health plan when compared to a typical preferred profiler organization (PPO) plan.
Increased Control for You
As the employer, you have access to an online portal to manage your employees and payroll contributions.
Increased Control for Your Employees
HSAs give your employees complete control to manage their funds (i.e., using the money for an eligible medical expense or saving for retirement).
Competitive Benefit Option
A key benefit of an HSA for your employees is that the funds move with them, no matter where they go. HSAs provide lifelong value to your employees. Any funds left in the account will continue to accrue while remaining tax-deferred and earning interest.