Empower your employees with an HSA

For employers who prefer a modern approach to healthcare costs, integrated health savings accounts (HSAs) feature many advantages, and they give your employees the tools they need to be better informed healthcare consumers.

Good for you, good for your employees

An integrated HSA, which can be paired with any BlueSolutions or Access Blue New England plan, helps both you and your employees realize tax savings.

Employers

  • Easy administration. We make setup simple.
  • Cost savings. Our HSA-eligible plans generally offer lower premiums.
  • Tax savings. Both employer and employee HSA contributions can provide tax savings.
  • More engaged employees. Higher deductibles promote better informed healthcare choices.

Employees

  • More spending power. Since they’re using pre-tax dollars, their money goes farther.
  • Tax savings. Contributions can lower income tax; interest earned is tax-free; and there is no tax when the money is used for qualified medical expenses.
  • Convenience. They can pay bills online, on their mobile app, or with debit cards and checks.
  • Mobile access. With the BlueSolutions Spending on the Go app, employees can view account balances, update profiles, and submit claims.

HSA employer tax savings example*

Employer with 30 employees each contributing $1,500 in pre-tax payroll deductions to their HSA annually.

Pre-tax contributions per employee:

$1,500

Number of employees:

30

Total employee annual HSA contribution:

$45,000

FICA Tax %:

7.65%

Estimated annual employer tax savings:

$3,443

*This example is for illustrative purposes only and does not represent actual tax impact. FICA tax % based on 2018 rate and subject to change.

More options to cover expenses

We also offer health reimbursement arrangements (HRAs) and flexible spending accounts (FSAs). Talk to your broker or BCBSRI account executive for more information.

This communication has been prepared for informational purposes only, and is not intended to provide, and should not be relied on, for tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction. HSAs are not insurance.

Have a question?

If you want help designing your employee health benefits or you just need a quick answer, send us your contact info and we’ll be in touch soon.

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