Friday, March 1 is National Employee Appreciation Day, and if you’re looking for a way to show your employees that you truly value them — and help them out financially — it’s hard to beat offering Health Savings Accounts (HSA).
Sure, you could bring in a box of donuts or pass out gift cards, but HSAs will help make healthcare costs more affordable for employees, give them incentives to stay healthy, and reward them by providing additional funds for retirement. They also allow employers to offer a very attractive benefit while lowering overall costs. Continue reading
There’s a practical alternative for managing health care costs — and it’s available through your credit union. A Health Savings Account (HSA) combines a tax-exempt savings account with certain high-deductible health insurance plans. The idea is that the health insurance plan is there to cover catastrophic expenses such as emergency care and hospital stays, while the money in the savings account can be used to pay for basic healthcare needs. The money employees put in an HSA earns interest, and if the employee doesn’t use all the funds this year, the balance carries over for future years. Continue reading