Driving Employee HSA Utilization for Employers and TPAs

Can you name all of the advantages of an HSA account? Here’s just a few:

  1. Lower your monthly health insurance premiums with a higher deductible. These HDHPs can be paired with an HSA
  2. You Can provide a savings buffer for unexpected or high medical bills
  3. Use the HSA to pay for current medical expenses, including your deductible and expenses that your insurance may not cover, or you can save your funds for future medical expenses
  4. You can withdraw money from your HSA at any time and for any reason
  5. They offer a triple-tax-advantage – tax-free contributions, tax-free withdrawals, tax-free interest on investment
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How to Plan for Future Cost Increases

I want to pose a question: Why do health insurance premiums go up? For quite a few reasons: people get more sick, procedures cost more money, medication costs rise… The list goes on. But I want you to consider this fact for a moment – Over the past 13 years salaries have risen at a rate of 43%. Pretty good, right? Now consider that over the same time period, insurance rates have risen 180%. That is a serious chunk of money going towards health insurance premiums. And it doesn’t seem to be getting any better (sad face).

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