Setting Up an HSA Program

When it comes to supporting the health needs of your employees – and your own family – a health spending account (HSA) offers more flexibility and financial power compared to group benefits. The HSA meets today’s consumer demand for custom tailored services while providing impressive tax efficiencies and advantages.

Because of their flexibility and tax benefits, HSAs have become very popular overseas. Many North American companies are now choosing them over group benefits with their rigid, compartmentalized allocations of money that you must spend within a given year.

HSAs are managed through an insurance company, which gives you the confidence of knowing that it is properly administered. Sit down with your Carte Financial Advisor to define the criteria you want in your HSA program.

As an employer, you can establish different categories of employees and set a spending limit for each. Employees pay their health expenses directly. They are reimbursed from the account, up to their yearly benefit limit. The claim is fully paid, with no deductible.

Their health expense becomes a tax deduction for you as the employer. You can structure an HSA as a stand-alone benefit, or as a supplement to your traditional group insurance plan.

Choose an HSA for your corporation, your employees, and your own family. Call your Carte Financial Advisor to discuss how HSAs can provide you with a superior health benefits program.