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Health Savings Accounts

A High Deductible Health Plan (HDHP) paired with a Health Savings Account (HSA) is an increasingly popular insurance option for business owners to offer their employees.

  • Manage insurance costs while providing health benefits that attract and retain a qualified workforce.
  • HSA contributions can be funded by the employee, the employer, or both
  • Payments you make are tax deductible for your business.

High Deductible Health Plan

If rising healthcare expenses are impacting your profits, switching to an HDHP can help you reduce the amount of money you spend on health insurance premiums for your employees. An HDHP is an alternative form of health insurance where plan holders pay lower premiums in exchange for a higher deductible.

 
High Deductible Health Plan Annual Deductibles
 
Type of Coverage Minimum Annual Deductible Maximum Annual Out-of-Pocket* Private / Exchange
Individual 2016: $1,300
2017: $1,300
2016: $6,550 (Private) / $6,850 (Exchange)
2017: $6,550 (Private) / $7,150 (Exchange)
     
Family 2016: $2,600
2017: $2,600
2016: $13,100 (Private) / $13,700 (Exchange)
2017: $13,100 (Private) / $14,300 (Exchange)
 
* Includes deductibles, co-payments, and other amounts, but not premiums

Health Savings Account

A Health Savings Account helps your employees pay for qualified medical expenses not covered by an insurance plan. HVFCU can provide your employees with an HSA Checking Account and free HSA Visa® Debit Card to pay for their qualified medical expenses.

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