|
|
 |
- What are the primary benefits to the employer to set up
an HSA for its employees?
- What are the limits on amounts contributed to an HSA?
- Can both the employee and employer contribute to the account?
- Must all my employees elect an HSA?
- Can the employer fund the full amount in advance versus
month to month?
- When are my insurance premiums due?
- Where should my premium payments be sent?
- Where should I send employee level adjustments?
- What are the primary benefits to the employer to set
up an HSA for its employees?
- An HSA serves to save money, cut taxes and help employees
build a healthier future. HSA funds can be used tax-free
to pay for dental, vision and a wide range of other services
not covered under the insurance plan. This makes the benefits
program offered by the small employer much richer than a
plan that they would otherwise not be able to afford. An
HSA also allows the employer who chooses to give allotted
health care dollars to employees rather than to an insurance
company. HSA contributions are 100% tax-deductible to the
employer who elects to contribute.
- What are the limits on amounts contributed to an HSA?
- Each year, an Employer is allowed to deposit into the
HSA account, up to 100% of the employee' s deductible amount
for individual coverage and 100% of their family coverage,
if elected.
- Can both the employee and employer contribute to the
account?
- Either the employer or employee may contribute to the
HSA account. Both may contribute to the same account in
the same calendar year.
- Must all my employees elect an HSA?
- No, it is not necessary for all of your employees to elect
an HSA plan as there are no participation requirements to
satisfy.
- Can the employer fund the full amount in advance versus
month to month?
-
- Yes. However, once that money is in the account it belongs
to the employee. If the employee leaves the company, that
money follows the employee.
- When are my insurance premiums due?
-
- Premium payments are due on the first day of each month.
- Where should my premium payments be sent?
-
- Premium payments should be mailed to:
Real Benefits Association
c/o TPA One
P.O. Box 1670
Danville, IL 61832
- Where should I send employee level adjustments?
-
- All adds, changes, terminations should be sent to:
Real Benefits Association
P.O. Box 74
Basking Ridge, NJ 07920-0074
|
|
