About Health Savings Account Plans
Many businesses and individuals are setting up Health Savings Account Plans to enjoy these benefits:

Freedom of Choice		 Your health care dollars remain your money to spend on your health care needs as you see fit. Therapy, special shoes, braces, nursing services, doctor visit, dental visit, prenatal care. It’s your money! It’s your choice.
Portability Your HSA is your money.  What you don’t need for medical expenses you can save throughout your life.   An HSA is your own medical IRA.  Use it when needed and pass it on to your beneficiaries.
Affordability If you can afford health insurance you can afford an Health Savings Account Plan which is a combination of high-deductible insurance (HDI), and a tax-advantaged Health Savings account (HSA). By converting to a high-deductible insurance plan you save on monthly premiums. The money saved is used to build up your Health Savings account.
Flexibility You can add to the HSA as your cash flow allows. You can make larger HSA deposits when possible; but if your cash flow is low, just pay that lower cost premium and you won't have to worry about losing coverage.

 

How HSA's work in practice
Step 1 You  or your employer purchase a high deductible health insurance plan that would pay the costs of unexpected medical needs beyond that deductible amount.  
Step 2 Set up a Health Savings account in your own name.  Both you and your employer can contribute funds to that account with money saved by the lower insurance premiums.
Step 3 As you attend to routine health, dental, vision or other eligible  needs, use your HSA debit card to pay your bills.  Keep your receipts handy with your other tax information; no other paperwork burdens till tax time. 
Step 4 Enjoy opening  your own HSA bank statements, watch as your savings grow,  and see what funds are available to make your own health care choices.  
Step 5 If you have a major mishap, scoop up those receipts and submit a claim to the insurance company. Note most HSA carriers are now linked to HSA banks which keep track of your expenses and know when you have met your deductible.

 

HSA's and Employee Benefits
Take control of your health care benefits costs --- without losing health services for you, your employees,  or your families.
COST CONTROL:
Cost control will occur because individuals and employees are spending their own money (not "someone else’s money"). They shop wisely for their routine health care needs, and bureaucratic costs of the third party payer system are eliminated from the bulk of health care transactions.  

BUSINESS OWNERS

Triangle Medsaver Corp.  is part of the National Association for Alternative Benefit Consultants.  Regardless of the size of your business we can help you find an experienced agent or broker in your area who can explain the benefits of HSA's to you and to your employees.  We encourage you to read the links provided in this site and then let us know of your interest.  We will help you obtain information specific to the needs of your company.

 

Defined contributions might become the preferred method of providing health benefits to employees.  An excellent introduction to this is found  on the website of The National Center for Policy Analysis 

Write to us at HSA@medsaver.org