Many employers are concerned workers won’t see the value in an HSA plan where workers are responsible for most of the upfront expenses. To convince employees that an HSA is a good solution, they need to understand how it is better than other plans. An HSA is more flexible than a flexible spending account and doesn’t have a use-it-or-lose-it rule. As long as funds are spent on qualified medical expenses, account holders never pay taxes on the money. HSAs can have a lower price point than a PPO plan, allowing an employer to put some money into their employees’ HSA accounts. Payments for routine expenses apply toward the plan’s deductible and out-of-pocket maximum. Premiums could be higher in 2014, leaving less disposable income to set aside for medical expenses.
Five Reasons to Enroll in an HSA (BenefitsPro)
Related Regulatory Resources
This study will help you know the questions to ask your Baby Boomer clients and prospects, and will guide you in creating a customized retirement plan for them.
The average baby boomer changed jobs 11 times between ages 18 and 44. This opportunity is huge and it’s still growing.