HSA/HRA

Want to provide a consumer-directed care program for your employees while you both save money? Sign up for an HRA or HSA-compatible insurance plan.

What is a Health Savings Account?

A Health Savings Account (HSA) allows members to set aside a portion of their pre-tax income to an interest-bearing account used for qualified medical expenses and medications. Anyone enrolled in a high-deductible health plan can contribute to an HSA. Benefits include:

• The money stays with the member, even if they change jobs
• No time limit on using funds
• Contributions are free of FICA and FUTA taxes

More Information

HSA/HRA Advantages

The HSA/HRA product offering is an opportunity for you to offer consumer-directed plans to your employees, empowering them to build health savings and benefit from significant tax savings. It also means employees will be able to have a record of their claims and what to pay or not pay.

Benefits of HSA/HRA products:

• Employees can typically save on insurance premiums
• Savings can be deposited tax-free into an HSA account
• Savings roll over year after year allowing for future medical spending
• Employer contributions to medical spending account
• Savings build fast