A Broker’s Guide to
Health Savings Accounts
Innovative Cost-Containment for Clients
Increasing healthcare costs are putting a constant strain on employers everywhere, and brokers need to possess the ability to control these costs for clients. That’s where Avidia HSAs shine.
Access HSA ToolkitYour Broker Toolkit for Health Savings Accounts
Clients asking questions about HSAs? As a top-rated HSA provider, we’re here to help broker partners understand the ins and outs of these beneficial accounts. Click each resource below to learn more about what Avidia HSAs have to offer.
Looking for More?
We’re happy to provide additional materials to our broker partners upon request!
Make a RequestThe Five Ws of HSAs
What is a Health Savings Account?
An HSA is a tax-advantageous savings account that can be used for medical expenses.
Triple-Tax Advantages
Contributions are tax free, potential interest accumulates tax free, & distributions are tax free.*
*when used to pay for qualified medical expenses
Flexibility
At 65, any remaining funds can be withdrawn for non-medical reasons without penalty.
Portability
Balances roll over year to year & accounts move with employees after changing jobs or retiring.
Who can benefit from a Health Savings Account?
From the broker to the members and even the employer, HSAs are beneficial for everyone.
Brokers
Brokers gain access to an innovative cost-containment tool that helps their clients save money.
Employers
Employers save on FICA, Unemployment, and Workers Compensation taxes.
Members
Members gain tax advantages, healthcare financial assistance, investment potential, and much more.
When can members enroll in a Health Savings Account?
Any time! Members do not need to wait until open enrollment as long as they meet the following criteria.
Have coverage under an HSA-qualified high-deductible health plan (HDHP)
Have no other medical coverage
Are not enrolled in Medicare
Cannot be claimed as a dependent on someone else’s tax return
Where do Health Savings Accounts help?
Avidia members can use their HSA funds for certain medications, medical equipment, and other healthcare-related expenses. In fact, anything on HSAStore.com can be purchased using HSA funds!
Co-Pays
Eyewear & Eyecare
Dental Work
Prescription Medication
And More!
Why are Health Savings Accounts beneficial?
Let's recap! HSAs...
- Are a tax-advantageous savings account for medical expenses.
- Are beneficial to members, brokers, and employers alike.
- Allow for enrollment at any time, so long as members fit the criteria.
- Allow members to use their savings for certain medications, medical equipment, and other healthcare-related expenses.
On top of that, HSAs are an excellent investment vehicle, allowing the invested funds to grow tax-free!
Dedicated Staff Here to Help
When you need help, Avidia Health's expert staff is on the job.