Create A Work Environment that Supports Happy & Healthy Employees
What is an HSA?
A Health Savings Account (HSA) is a tax-advantage account that offers triple tax benefits empowering you to prepare for and manage healthcare costs. As a compliment to your retirement plan, HSA’s help you prepare for the $285,000 or more you will need for retirement medical expenses. HSA’s can also be used to pay tax-free today for qualified medical expenses – from doctors’ visits, prescriptions, deductibles, as well as dental and vision expenses.
Who is Eligible to have an HSA?
In order to qualify for an HSA, you must be an adult who meets the following qualifications:
• Have coverage under an HSA-qualified, high deductible health plan (HDHP)
• Have no other health insurance plan (this exclusion does not apply to certain other types of insurance, such as dental, vision, disability or long-term care coverage)
• Not enrolled in Medicare
Why have an HSA?
Security – HSA can provide a savings buffer for unexpected or high medical bills
Affordability – In most cases, you can lower your monthly premiums when you switch to health insurance coverage with a higher deductible, and these HDHPs can be paired with an HSA.
Flexibility – You can use your HSA to pay for current medical bills, including your deductible and expenses your insurance may not cover. Or you can save your funds for future medical expenses. A list of expenses are provided by irs.gov refer to Publication 502, visit irs.gov or consult a tax professional.
A Health Savings Account (HSA) is a tax-advantage account that offers triple tax benefits empowering you to prepare for and manage healthcare costs. As a compliment to your retirement plan, HSA’s help you prepare for the $285,000 or more you will need for retirement medical expenses. HSA’s can also be used to pay tax-free today for qualified medical expenses – from doctors’ visits, prescriptions, deductibles, as well as dental and vision expenses.
Who is Eligible to have an HSA?
In order to qualify for an HSA, you must be an adult who meets the following qualifications:
• Have coverage under an HSA-qualified, high deductible health plan (HDHP)
• Have no other health insurance plan (this exclusion does not apply to certain other types of insurance, such as dental, vision, disability or long-term care coverage)
• Not enrolled in Medicare
Why have an HSA?
Security – HSA can provide a savings buffer for unexpected or high medical bills
Affordability – In most cases, you can lower your monthly premiums when you switch to health insurance coverage with a higher deductible, and these HDHPs can be paired with an HSA.
Flexibility – You can use your HSA to pay for current medical bills, including your deductible and expenses your insurance may not cover. Or you can save your funds for future medical expenses. A list of expenses are provided by irs.gov refer to Publication 502, visit irs.gov or consult a tax professional.
Why consider a tax advantaged savings plan?
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An Affordable Benefit WhyFit Pro costs 0$ per employee per month. Yes, it's true. The app is free to each employee. Plus, you will receive discounts on any wellness services, such as yoga instructors, massage therapy, nutritionists, art therapy, etc.
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