BUSINESS BANKING >> H.S.A.|
What is a Heath Savings Account (HSA)?
A Health Savings Account is an alternative to traditional health insurance; it is a savings product that offers a different way for consumers to pay for their health care. HSAs enable you to pay for current health expenses and save for future qualified medical and retiree health expenses on a tax-free basis.
HSA: A Small Business Health Care Alternative
Health care premiums are facing continued growth while many small business owners prepare this year’s budget. HSA or health savings accounts, provides new avenues for reducing current healthcare costs.
Benefits of an HSA
An HSA is particularly well situated to help small firms without medical plans to offer to their employees. An HSA is a form of tax-deferred retirement accounts that can be more easily drawn upon for emergencies than their IRA counterparts. Learn how an HSA can benefit your small business, give us a call today!
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