Health Savings Account (HSA)
As health care costs continue to soar, finding ways to offer affordable health benefits to your employees is a challenge. A Health Savings Account solution from Lifetime Benefit Solutions can give your employees more spending money per paycheck while they save money on out-of-pocket health care expenses.
An HSA is a tax-advantaged savings account that is used in combination with a qualified high deductible health plan (HDHP) and gives your employees a new way to manage health care costs. They can use the HSA funds to cover qualified health care expenses—from copayments at the doctor’s office to pharmacy bills, dental care, vision care and more.
Lifetime Benefit Solutions HSA helps you:
- Add depth and flexibility to your employee health benefits and retirement plans with secure, FDIC-insured financial accounts*
- Reduce FICA and FUTA payroll taxes
- Save money on health insurance premiums by offering HSAs along with qualified high deductible health plans
- Provide web-based, fully integrated portals with 24/7/365 access to account information
- Promote healthier lifestyle choices through increased employee involvement
- Debit card transactions, direct deposit reimbursement and electronic statements
Access Health Spending Account App
Lifetime Benefit Solutions HSA helps your employees:
- Offset rising health care costs with tax-free funds
- Plan for future health expenses with tax-free investment accounts that grow year over year— no “use-it-or-lose-it” annual requirement
- Easily monitor health spending with convenient debit cards and secure online account access
- Plan for retirement—after age 65, participants can use HSA funds for non-qualifying expenses
* Dollars put into the HSA account are initially invested in a FDIC-insured interest-bearing account on behalf of the participant/account-holder. The participant/account-holder has the ability to invest these dollars into a variety of investment funds.
My HSA Planner
We know that the benefits of an HSA vary based on the unique lifestyle and financial goals of your employees.
Which makes it difficult and time consuming for you to explain the benefits of an HSA in a way that resonates to help them *actually* use or sign up for an account.
Introducing My HSA Planner. This easy-to-use HSA decision tool helps both of your HSA and non-HSA employees learn the benefits of an HSA account.
