In our ever changing health insurance world we are seeing more high deductible plans than before. HSA's are the next logical addition to your benefit offering to your employees. Contributions to an HSA made by the employer may be excluded from the employee's gross income and the account is portable from one employer to the next or even when an employee leaves the work force. Employees can claim a tax deduction for their contributions and the interest on the assets in an HSA account are tax free.
In order for an employee to be eligible and qualify for an HSA he/she must be covered under a high deductible health plan (HDHP), have no other health coverage (except permitted), not enrolled in Medicare and not claimed as a dependent on someone else's tax return. Please note that you can have both a limited purpose FSA account (covering dental, vision and preventive care expenses only) and make contributions to an HSA.
Health Savings Account (HSA) plans are a great way to control the cost of your healthcare expenses.
Ask Murfee Meadows if a HSA plan would work for you.