Health care costs continue to climb for employers and employees alike, with no relief in sight. There’s a solution to help both sides ease the financial burden – a Health Savings Account (HSA) from Members’ Advantage Credit Union!
A Health Savings Account is fairly basic in nature – you, or the owner of the account, place pretax funds in a private investment account. Contributions to this account can be made by individuals, employers, or both. As money in your HSA accumulates, you can withdraw funds (also tax-free) to help handle your qualified medical expenses. Plus, you earn interest on the balance!
You can apply HSA funds toward almost any health care need, whether it’s offsetting deductibles, paying for prescriptions, covering preventive care, or settling other out-of-pocket medical bills. HSAs are quickly becoming the preferred complementary program to today’s High Deductible Health Plans (HDHP). Many employers now package HSAs with their benefits program, and individuals can open their own account as well, independent of their insurance provider or their employer. You can even use HSA money to pay for the health care expenses of your spouse and dependent children who aren’t covered by your HDHP.
Members’ Advantage Credit Union offers you all the convenient and cost-saving features of a Health Savings Account! Whether you’re looking for a new incentive for your employees or a private account for your family, you can count on Members’ Advantage Credit Union for a solution to all your HSA needs.
HSAs truly benefit everyone involved and help curb the growing health care challenges. We’re proud to offer you this incredible program so you can meet today’s medical costs. Discuss your options with a Members’ Advantage Credit Union representative today!