Health Savings Account, also known as HSA, is an employee benefits account that helps relieve the financial strain that stems from healthcare costs. Savings from this account may be used for qualified healthcare expenses. This benefit allows beneficiaries to enjoy tax benefits as the money that goes to an employee’s HSA account is not taxed (up until it reaches an annual limit). If employees contribute money after tax is applied, then they are free to deduct their tax time contributions when they file their taxes. Employees will appreciate that they can earn tax-free interest on the amount that they have accumulated in their HSA account.

Comparative Solutions ensures the correct administration of HSA benefits to your employees. Your team will be made aware of how their HSA may be effectively used, especially to complement HDHP (High Deductible Health Plans). We encourage businesses and their employees to set aside tax-free dollars which may come in handy in the future to pay for out-of-pocket healthcare expenses. As an employer, you will benefit from offering your workers affordable healthcare insurance and coverage that is generally less expensive compared to traditional health plans.