HSA

Health Savings Accounts (HSAs) are a powerful tool for employees enrolled in High Deductible Health Plans (HDHPs), offering a tax-advantaged way to save and pay for healthcare expenses. With an HSA, employees and/or employers can set aside pre-tax funds to cover eligible medical costs, including doctor visits, prescriptions, dental, and vision expenses. Unlike other accounts, HSA funds roll over year to year, allowing employees to build savings for future healthcare needs without losing unused funds. This feature makes HSAs an excellent long-term savings option for medical expenses, supporting employees with both current and future healthcare costs. Additionally, the funds grow tax-free, and withdrawals for qualified expenses are also tax-free, making HSAs a flexible, cost-effective benefit that grows alongside an employee’s healthcare needs.