Health Savings Accounts
Learn how offering your employees the opportunity to contribute to a health savings account (HSA) could be the unique employee benefit that sets your company apart.
In the current job market, offering medical insurance as part of an employee benefits package is quite common. If you already have this coverage in place, then you might assume that this is all that you can offer to attract prospective applicants and to keep current staff members content. However, there are other steps that you can take to extend your employee health benefits.
One way that companies can offer their employees extended healthcare coverage is by setting up a health savings account (HSA). HSAs usually act as supplements to existing medical insurance, covering the medical expenses that a standard medical plan will not pay for. By setting up an HSA at your company, you can give your employees access to the comprehensive health care that they need. Interested in adding an HSA to your employee benefits package? Then here’s how SCH&A can help.
Managing Your Benefits
We at SCH&A understand that organizing a comprehensive employee benefits package for your company can be difficult. This is why we strive to make the package development process as simple as possible. If you want to add an HSA to your benefits package, then it’s important that you understand what they entail and how they work.
When you set up and HSA, you and/or your employees contribute money (some companies offer contribution matching or simply offer a set contribution amount on behalf of their employees) to the account. This money sits in the HSA like it would in a bank account, expect this money is tax-free and can therefore accumulate more interest. When your employees need supplemental medical coverage, then they can use the money that’s been saved in the HSA to take care of their expenses. This is what you need to know about how HSAs work to the benefit of your employees. If you are interested in learning more, then don’t hesitate to contact the experts at SCH&A for further explanation.
Choosing Us
When you rely on SCH&A for your employee benefit needs, you can rest easy knowing that you have our knowledge, insight, and resources at your disposal. Trust us for the innovative and comprehensive solutions to all your employee benefits needs.
Interested in learning more about what HSA benefits can do for your business? Then contact us at SCH&A for assistance today.
