Health Savings Account (HSA)
If your company offers a high-deductible health plan (HDHP), you can also offer a Health Savings Account for employees.
These funds fill in the gaps from the healthcare plan while providing tax advantages. An HSA is also a great way to save for retirement.
HSAs are paired with high-deductible health plans (HDHPs), while FSAs are available with various types of health insurance plans.
HSAs offer greater flexibility and ownership as funds roll over and accumulate year after year, while FSAs typically operate on a “use it or lose it” basis with funds expiring at the end of the plan year. Additionally, HSAs allow for investment options and provide triple tax advantages.