Health Savings Accounts
Health Insurance Premiums continue to rise, making it tougher and tougher on small businesses to provide Health Insurance Coverage for their employees. High Deductible Health Plans (HDHPs) and Health Savings Accounts (HSAs) may provide your small business a way to reduce costs while minimizing the corresponding changes to your employees’ health care benefits.
What is a Health Savings Account?
HSAs allow employers and individuals to contribute pre-tax dollars for future medical expenses. The use of a HDHP is required to participate in HSAs. You will need to contact your insurance professional and/or accountant to see if the coverage you currently provide qualifies.
Facts to Know
Contact your local branch today to discuss how an HSA can benefit your business.