Health Savings Account (HSA) can provide significant tax savings for individuals. HSAs were established in 2004 as a way for individuals covered by high-deductible health plans (HDHPs) to pay unreimbursed medical expenses and deductibles on a pre-tax basis. For those who qualify, the HSA offers many advantages over the traditional medical flexible spending account.
HSAs offer flexibility and portability for individual participants. They also offer significant tax savings and the ability to direct the investment of funds in the participant's account. Eide Bailly' professionals can help you understand plan details and evaluate if an HSA is right for your employees. If you choose to implement an HSA, Eide Bailly can also administer the account, relieving you of the burden of having to fully understand the intricacies of an HSA.
Let us help you evaluate the benefits of an HSA for your company. HSAs have specific health plan requirements and various funding choices. We are well-versed on HSAs and will work with you to evaluate their potential value to your company. Our solution is all-encompassing, with fund vehicles and administrative options that can be customized to each employer. Eide Bailly's professionals go the extra mile to create and implement the right plan for you, and to keep employers up-to-date on new opportunities in the benefits field.