Health Savings Accounts

  • Do your clients want healthcare coverage plus a way to invest for their financial future?

    Our qualified high deductible health plans with an HSA offers your clients great basic coverage and a chance to save money and invest it for future healthcare expenses. Helping people choose an HSA health plan also allows your clients to reduce their taxable income. We make it easy to enroll in and to manage both the health plan and the savings account.

    HSAs offers a triple tax advantage:

    1. Contributions are 100% tax deductible
    2. Funds withdrawn to pay for qualified medical expenses are not taxed
    3. Interest earnings accumulate tax-deferred and are tax free when used to pay qualified medical expenses

    You also enjoy:

    • Monthly rates that are lower because of higher plan annual deductibles
    • Accrued interest over time on unused funds
    • The opportunity to invest funds in a variety of mutual funds-with no transaction fees
    • HSA funds are owned by your client, meaning they can keep them if they change to another health plan
    • HSA funds can be used without penalty for nonmedical expenses if you are 65 or older or if you become permanently disabled (You will still owe tax on the funds you withdraw)

    How an HSA with a qualified high-deductible health plan works

    • Pays 100% for covered preventive care and certain preventive prescription drugs from day one
    • Your clients pay-either out of pocket or with their HSA funds-all medical and pharmacy expenses until they meet their annual deductible. Then the plan pays 100% of expenses for the rest of the year
    • Funds not spent from the HSA continue to accrue interest

    Member resources available: