Health Spending Accounts (HSA)
Healthcare Spending Accounts (HSA)
The Flexible Choice to a Group Benefit Plan
A Health Spending Account (HSA) gives you the option to expand on the type of health expenses your company will cover while only charging you if the HSA gets used.
A different option from the traditional group health and dental plans, HSA’s can cover:
- Professional services, such as chiropractor, physiotherapy or dental services, above the annual maximums allowed in group benefits coverage.
- Medication not usually covered in drug plans.
- Eyeglasses & contact lenses if an existing plan doesn’t cover them.
At the beginning of the coverage year, a pre-determined amount of money is available for employee benefits.
An HSA can be a great incentive for employee retention, taxed at a better rate than an increase in salary or bonus, and gives your employees the freedom to take care of themselves and their families.