Employers with high deductible health plans (HDHPs) get details on staying HSA-compliant.
If your benefits portfolio includes a qualified high deductible health plan (HDHP) such as BlueSaver or BlueDirect, you may be eligible to also offer employees a health savings account (HSA) to help them pay out-of-pocket costs. Contributions to an HSA are not subject to federal income tax at the time of deposit. Funds can be withdrawn at any time to cover any qualifying medical expenses and rolled over from year to year.
(BCBSND does not offer HSAs but we can help you get set up with a reputable HSA provider through our partner, Azurance Group. Your BCBSND representative can also help guide you.)
Because of the tax implications, HSAs are governed by the Internal Revenue Service (IRS). In general, HSAs haven’t changed dramatically over time. However, limits and maximums and other details evolve slightly from year to year.
This handy comparison chart will help you and your employees stay compliant this year. Download the Health Saving Account Guidelines