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We understand the challenges businesses face in providing employee benefits. Whether your company has 10 employees or 1000, we can partner with your business to enhance loyalty and job satisfaction by providing excellent claims service to your employees.
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HSAs-The Latest in Health Care Coverage....
You know that things need to change when Wal-Mart Stores, the master of controlling the cost of everything, is worried about the rising cost of employee healthcare. The giant retailer has made announcements recently that they are trimming back their health benefits.
Health Savings Accounts (HSAs) and the high-deductible plans that go with them are one of the answers to this nationwide concern. HSAs are available to both employers for their employees and to individuals.
Here are some aspects of this new type of plan:
· You must have a high deductible health insurance plan in order to open the HSA.
· Switching to a high deductible health insurance plan will save significant money in premium which should then be deposited into the HSA.
· Your HSA contributions are tax deductible, up to the maximum, even if you don’t itemize on your federal tax return.
· Since you own your HSA, you have the freedom to keep it when you change jobs.
· There is never any tax on the money you withdraw to pay for qualified expenses.
· You are responsible for the use of the account and may be required to show proof of your expenditures to the IRS.
This just might be the answer you are looking for, but you may still have more questions. CLICK HERE to visit the United States Treasury's website for complete information.
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