A Health Savings Account (HSA) is a tax-advantaged financial account that works with a federally qualified, high-deductible health plan. A high-deductible health plan gives you a lower monthly premium. The combination of a high-deductible health plan and an HSA gives you effective, affordable healthcare coverage. 


Top 10 reasons to consider an HSA for your company:

  1. An HSA gives your employees three tax benefits:
    • HSA contributions reduce their taxable income
    • Money in their accounts earns tax-free interest
    • Withdrawals are tax-free when used for eligible medical expenses
  2. Employees decide when and how to use their HSA dollars
  3. The account can be used to pay for eligible expenses that aren’t covered by the health plan, such as coinsurance, copays and deductibles
  4. Money not used in one year rolls over and is added to the account balance the next year
  5. The employer, the employee or both can contribute to the HSA in a given year
  6. The HSA works with the company-sponsored health plan
  7. Employees have fast and easy access to HSA dollars when they use their HSA debit card
  8. Online tools and support are available to manage the account anytime
  9. A portion of the HSA dollars can be invested in a variety of stocks, bonds and mutual funds. Or, money can be left in the account to grow

The money in the HSA belongs to the employee, even if they change jobs or retire