H.S.A. Plans are a great option for companies looking to reduce the cost of their health care package.  Monthly premiums for these insurance plans are typically a fraction of the cost of traditional plans! 

In conjuction with an H.S.A. high-deductible medical plan, you’ll be able to set up a Health Savings Account. This account allows the employer, the employee or both to contribute funds on a pre-tax basis, which you may use to pay for expenses such as:

1. Charges applied to your health plan deductible
2. Dental & Orthodontia services
3. Vision care services
4. Prescription services
5. Over-the-counter medications prescribed by your doctor 
6. Certain medical equipment

In summary, the key to understanding an H.S.A. plan is to realize there are two separate parts:

• First there is a high deductible health insurance plan that must meet certain requirements to qualify.  
• Second, there is a Health Savings Account where pre-tax funds are deposited & used to pay for your out-of-pocket health costs
  (a list of eligible items is provided in IRS publication 502).

Feel free to contact us for more information on H.S.A. Plans.  There are also many online resources that can help you understand how they work – please see our Resources & Links section if you’re interested in learning more!