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Give Your Employees

A Triple Tax

Advantage.

Health Savings Accounts (HSAs)

To help you deal with the continuing rise in health insurance premiums, American Fidelity offers an HSA program that allows you to save money, and gives your employees the option to take control of their healthcare expenses.

An HSA is a tax favored “IRA” type of account that helps pay for the medical expenses of your employees and their dependents. When set up through a Section 125 Cafeteria Plan, HSA contributions are made on a pre-tax basis and can provide significant FICA savings for both you and your employees. You must offer and your employees must be participating in a Qualified High Deductible Health Plan (HDHP) to contribute to an HSA. In addition, earned interest on an HSA is tax free.

HSA Tax Advantages

One of the best features of an HSA is the tax savings potential – tax free contributions, earnings and distributions. Participants can make tax free HSA contributions that are deducted from their paycheck under your Section 125 Cafeteria Plan, which can result in tax savings for both you and your employees. Also, any funds that remain in the account will accumulate tax free interest, and as long as the money is taken out for a qualified expense, reimbursements are also tax free.

Advantage of Partnering with American Fidelity

American Fidelity believes that it is important to understand all the fees associated with your HSA including any hidden or back-end fees. Many HSA vendors typically charge fees to HSAs that apply to regular checking accounts such as overdraft fees, stop payment fees, researching fees, etc. American Fidelity handles the majority of account administration through one monthly maintenance fee, so participants do not have to worry about being charged for regular account activity.

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