Today, Californians are looking for ways to keep their employees and reduce costs.A great way to provide for employees is through a Health Savings Accounts.An HSA is a savings account that is paired with a qualified High-Deductible Health Plan to cover eligible medical expenses not covered by the health plan. Health Savings Accounts are a great way for consumers to pay for medical expenses and save for the future. Thanks to new Medicare Reform laws, most individuals with a qualified High-Deductible Medical plans can open an HSA and start taking more control over their healthcare dollars. What is the Value of the HSA ? 1.Lower current premium cost to employers. 2.Lower current payroll deduction to employees. 3. Provides Tax advantaged account to save for the future, 4.Fosters cost-conscious consumer choices. 5.Encourages greater transparency in provider pricing and quality reporting. What can you use your HSA funds to pay for? 1.Medical expenses before you meet your deductible 2.Services not covered by your health plan 3.COBRA coverage during periods of unemployment 4.Medical expenses after retirement 5. Long-term care expenses 6.Annual Health exams 7.Pre-natal and well childcare 8.Child and adult immunizations 9.Smoking cessation programs 10. Obesity weight loss programs 11.Screenings like mammograms, PSA tests What are the advantages to Employers? 1.Reduce health care costs . 2. Promote employee accountability. 3.Reduce actual spending and rate of growth for their health care benefit plan costs. 4.Simplify benefit administration through defined contributions 5.Can govern how their contributions are used 6.Lower the payroll base used to set workers compensation premiums and payroll tax contributions What are the advantages to Employees? 1.Pay for dental, vision, long-term care premiums, alternative medicine and covered services 2.Contributions and earnings grow tax-freeand are portable. 3.Accounts can accumulate over time in tax sheltered investments. 4.Premiums are affordable and tend to be more stable over time.
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Karen Adams Insurance Agency, 1035 E. Vista Way, #130, Vista, CA. (760) 295-1837. Specializing in San Diego, Orange, Riverside and San Bernardino Counties
