What are pre-tax savings and post-tax savings? Understanding taxes relating to health savings accounts (HSAs), flexible spending accounts (FSAs) and other benefits plans can be time-consuming and difficult to explain. Pre-tax savings are tied directly to FICA taxes. You may be wondering what FICA is and how does pre-tax savings work for HSAs and FSAs?...
Health Savings Account (HSA)
A Health Savings Account is a powerful tool to help you save for retirement and a way to pay for your family’s emergency medical expense. It can only be used with a qualified High Deductible Healthcare Insurance Plan (HDHP). It is set up with a partner bank and the money in the account always stays with the employee. The dollars in the account are only available for reimbursement as they are funded.
When setting up an HSA with Advantage Administrators, not only are you allowed to set up an HSA account, but we also include at no additional charge
- Debit Cards
- Investment Options
- Online Access to HSA Accounts