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.
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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. From the intersection of HSAs and Medicare to the investment potential made possible by these accounts, we’ve got you covered.
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The 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At 65, any remaining funds can be withdrawn for non-medical reasons without penalty.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 Should You Partner with Avidia?
For Many Reasons…
- Avidia is a Top-Rated HSA Provider by Investors Business Daily.
- Members have zero monthly maintenance fees.
- We offer over 30 investment options to choose from.
- Our convenient mobile app allows members to track balances, expenses, investments, and more.
On top of that, our dedicated staff is here to help your clients and their employees make the most of HSAs!
Dedicated Staff Here to Help
When you need help, Avidia Health's expert staff is on the job.