Business Savings Accounts

Health Savings Accounts

Health Savings Accounts (HSAs) provide the means for saving on your health and medical costs and building for future retirement. Employers across the country are switching from low-deductible insurance plans to high-deductible plans. Part of what employers save on premium goes into HSAs, and workers spend from those accounts rather than tapping health insurance for every visit to the doctor.

For more information on the contribution limits for the current year visit www.irs.gov.

Benefits to the Employer

• Tax savings – No payroll taxes on employee HSA contributions made through payroll deductions. Federal income tax deduction for contributions you make to your employee’s HSAs.
• Compatibility – Compatible with almost any qualified high-deductible health plans so you don’t have to change your HSA provider if you change your insurance.
• Attract and Retain Employees – An employer-sponsored HSA is part of a competitive benefits package that can help you attract and retain valued employees.