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Why are you hearing so much about Health Savings Accounts (HSAs)?
- HSAs are the basis of a new federal initiative (enacted in December, 2003) that allow individuals the ability to control health care spending
- HSAs allow companies and individuals to purchase qualified High-Deductible Health Plans with significantly lower annual premiums
- Contributions to HSAs are tax-deductible and HSA funds grow tax-free
- Qualified healthcare expenses can be paid for with tax-free HSA funds
Company gains...
- Significantly
lower annual healthcare premiums
- Funding employee HSAs
generates valuable and visible goodwill
- Employee directed
healthcare should lower future healthcare costs
- Turnkey
administration
Employee gains...
- Lower health premiums for the employee and his/her family
- Company/individually funded tax-free savings account
- Tax-free dollars used to pay for qualified healthcare
expenses
- Greater control and choice over healthcare spending
decisions
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"Within 30 days, Mindshare implemented a benefits program that improved
our coverage and saved us money. In addition, Mindshare directly fields
various employee benefits issues from employees, which allows me to spend
time on other
important things."
-Julie Bock, HR Manager - Tech Excel Inc. |
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