Show Your Employees You're Invested in Their Health
Union Savings Bank Health Savings Accounts (HSAs) are designed to help your employees save for qualified medical expenses with tax-free money, so they can feel prepared and confident in managing their health plan premiums and other qualified health costs. And as an employer, you too can benefit from offering your employees a Health Savings Account (HSA). It’s an added value that will help you recruit and retain current and potential employees.
One of the main advantages of an HSA is that it may reduce your FICA and federal unemployment tax liability, as well as state taxes*. Other benefits to offering an HSA to employees include:
- Contribution flexibility – For 2017: Employer + employee contribution limits are: $3,400 for self-only, $6,750 for family; note: these limits can change year to year
- Tax deductibility – Your contributions to employee HSA’s may be tax-exempt*
- Ease of administration – Employees control their own accounts, so all you have to do is send employee payroll deductions to the account on behalf of the employee
*Consult your tax advisor for information regarding tax implications.