TOP 5 REASONS TO HAVE AN HSA TODAY

<November 14, 2018>



Now more than ever, Americans just like you are turning to Health Savings Accounts (HSAs) to make healthcare more affordable. An Avidia HSA empowers you to pay for qualified medical expenses and save for the future with reduced monthly premiums through an accompanying HDHP.


So, what’s the buzz all about? See for yourself with these 5 perks that’ll make you want to enroll in an HSA today!


1 Triple Tax-Advantaged

HSAs have three tax advantages. Contributions are tax-free, potential interest gains accumulate tax-free and distributions are tax-free when used to pay for qualified medical expenses. This means contributions to your HSA are made prior to your income being taxed, you don’t pay taxes on account growth and you won’t be taxed when using the funds to pay for qualified medical expenses. That’s what we call a triple win! Plus, with zero monthly maintenance fees through Avidia, you’ll save even more.


2 Savings Solution for Future Health Needs

Think of it as, well, a savings account for your health! An HSA with an accompanying High Deductible Health Plan reduces your overall monthly premiums. You can redirect this money that would have been spent on monthly premiums to your HSA. Unused contributions accumulate and can be used for future medical expenses or to supplement retirement income. For example, unused funds in your HSA can be used to pay COBRA or other medical insurance premiums during periods of unemployment.


3 Flexible Funds

Your HSA funds can be used for non-medical related expenses. However, there is a 20% penalty before age 65 and ordinary income tax will be charged on the money withdrawn for non-medical reasons. At age 65 remaining HSA funds can be withdrawn for non-medical related expenses without penalty. Plus, Avidia makes it convenient to access your HSA funds with a debit card. Paper checks can also be provided.


4 Investment Options

HSAs are powerful financial tools that help you pay medical expenses. But your HSA can do much more than that. As an Avidia HSA participant, you have the opportunity to utilize our optional investment account service available through our partnership with Devenir. When you open an investment account you will be able to invest a portion of your HSA balance in mutual funds, where they earn tax-free interest. View our investment options here.


5 Portable

Unlike an FSA, the accumulated balance in your HSA rolls over from year-to-year. You own all HSA account funds. When you change employment or retire, your funds move with you! No ‘use it or lose it’ rule with Avidia.


So, don’t delay on gaining healthcare savings. Open an HSA today! Avidia HSAs are easy to open, easy to use and easy to manage. You can open an HSA on your own or through your employer.


Learn more about enrolling today

ATTRACT TOP TALENT WITH AN AVIDIA HSA

<November 12, 2018>



In a swiftly expanding job market, it’s more challenging than ever before for employers to attract and retain top talent. Employees are looking for much more than competitive pay in a job offer. They desire high quality benefits that allow flexibility and deliver more options. An Avidia Health Savings Account with an accompanying HDHP is a highly coveted employee benefit, and one that you could be using as a recruitment tool today..


Consider these 3 key reasons an Avidia HSA helps to attract top talent:


1 Flexible Funds

HSAs are a unique option for employees because the employee owns the account. Unlike FSAs, HSA funds roll over year to year with no use-it-or-lose-it rule. These funds accumulate over time and the employee carries the HSA with them regardless of whether they change jobs or retire. Plus, an employee can use these funds for non-eligible medical expenses after the age of 65.


2 Affordable Healthcare Option

High Deductible Health Plans (HDHP), also known as HSA compatible health plans, cost less for employees each month over traditional plans. As healthcare costs continue to rise, this plan along with an HSA provides an alternative and more affordable option for employees. Savings gained from reduced monthly premiums can be placed into their HSA which accumulates tax free.


3 Triple-Tax Advantage

HSAs have three tax advantages for employees. Contributions to HSAs are made prior to income tax, taxes aren’t paid on account growth and funds aren’t taxed when used to pay for qualified medical expenses. For employers, the contributions made to employees’ HSAs are tax-deductible for the year in which they were made.


While offering employees an HSA is a great way to attract top talent, having a partner that’s dedicated to the highest quality of service is vital to retaining them. At Avidia, delivering a tailored HSA solution for your business is our sole focus. We deliver the most value in HSAs with zero monthly maintenance fees, along with the personalized service your employees deserve.


View our HR HSA Digital Kit today for complimentary HSA resources.


View HSA Digital Kit

HOW YOU CAN SCORE BIG HEALTHCARE SAVINGS WITH AN AVIDIA HSA

<December 12, 2018>



We all know that healthcare is expensive, and costs are continuing to rise. So how do you obtain quality coverage at an affordable price? Think HDHP & HSA!


A High Deductible Health Plan (HDHP) combined with an Avidia HSA allows you to pay less on your premium each month while still obtaining high quality coverage. These unused premium funds are then invested by you into your HSA so when the need for a doctor’s visit does arise, you can tap into these tax-free savings to pay for the higher deductible. Think a high deductible is scary? Don’t fear! Once you meet your yearly deductible, your insurance plan kicks in to cover the rest, much like a traditional coverage plan.


When you get a HDHP with an HSA, you can gain 3x the savings on healthcare, plus additional Avidia only savings. Here’s how:


TAX-FREE CONTRIBUTIONS

Contributions to your HSA are tax-free because they’re made prior to income tax.


INTEREST ACCUMULATES TAX-FREE

Taxes aren’t paid on account growth for HSAs, allowing interest to accumulate tax free.


TAX-FREE HEALTH CARE

When used to pay for qualified medical expenses, like doctor’s visits and medical goods, HSA funds are not taxed. Plus, you can use these funds for non-eligible medical expenses after the age of 65.


ZERO MONTHLY MAINTENANCE FEES

With an Avidia HSA, you’re charged ZERO monthly maintenance fees allowing you to save even more on healthcare!


Want to learn more about why you should get an Avidia HSA? Watch our WHY HSA video here!

HOW HSAs CURVE RISING HEALTHCARE COSTS FOR EMPLOYEES

<December 12, 2018>



According to an article by the Advisory Board, US consumers spent a whopping 3.5 trillion dollars last year on healthcare. That number is predicted to continue to rise in 2019. The average health plan costs a single person $450 per month, with the family plan costing around $1,200, not including deductibles. Are your employees struggling to keep up with these growing healthcare expenses? The answer is likely yes. So, what’s a dedicated HR representative or employer like yourself to do? The answer is simple – offer a high deductible health plan (HDHP) with an accompanying HSA.


A HDHP combined with an Avidia HSA allows the employee to pay less on their premium each month while still obtaining high quality coverage. These unused premium funds are then invested by the employee into their HSA so when the need for a doctor’s visit does arise, the employee can tap into these tax-free savings to pay for the higher deductible. Think a high deductible might scare your employees? Don’t fear! Once the employee meets their yearly deductible, their insurance plan kicks in to cover the rest, much like a traditional coverage plan.


When you offer a HDHP with an HSA, you offer your employees 3x the savings on healthcare, plus additional Avidia only savings. Here’s how:


TAX-FREE CONTRIBUTIONS

Contributions to an HSA made by your employees are tax-free because they’re made prior to income tax


INTEREST ACCUMULATES TAX-FREE

Taxes aren’t paid on account growth for HSAs, allowing interest to accumulate tax free.


TAX-FREE HEALTH CARE

When used to pay for qualified medical expenses, like doctor’s visits and medical goods, HSA funds are not taxed. Plus, an employee can use these funds for non-eligible medical expenses after the age of 65.


ZERO MONTHLY MAINTENANCE FEES

With an Avidia HSA, your employees are charged ZERO monthly maintenance fees allowing them to save even more on healthcare!


While offering employees an HSA is a great way to assist them save on healthcare, having a partner that’s dedicated to the highest quality of service is vital to helping them make the most of their account. At Avidia, delivering a tailored HSA solution for your business is our sole focus. We deliver the most value in HSAs with zero monthly maintenance fees, along with the personalized service your employees deserve.


View our HR HSA Digital Kit today for complimentary HSA resources.


View HSA Digital Kit

Ready to speak with an Avidia representative to learn more about what an HSA can do for your employees? Contact Lynda Westbrook at l.westbrook@avidiabank.com or 978.875.2453 today.


HEALTHCARE SAVINGS, RETIREMENT PERKS AND INVESTMENT OPTIONS - OH MY!

<January 1, 2019>



Healthcare savings, retirement perks and investment options? Oh my! What account could offer all of these things?


Any guesses? That’s right! A Health Savings Account. Now more than ever before, Americans are turning to HSAs to make healthcare more affordable. An Avidia HSA empowers you to save for the future and pay for qualified medical expenses today. Take a look at exactly how an HSA through Avidia offers savings in healthcare, retirement perks and investment opportunities by reading below.


Healthcare Savings

An HSA with an accompanying HDHP is a smart, alternative way to pay for healthcare expenses and a savings solution for future healthcare needs. Another great feature to note, HSAs are triple tax-advantaged. Contributions are tax-free, potential interest accumulates tax-free and distributions are tax-free when used to pay for qualified medical expenses. And with zero monthly maintenance fees through Avidia, you save even more!


Retirement

You own your HSA funds! They stay with you year-after-year by rolling over, even if you change jobs or health plans. Plus, when you turn 65, your HSA funds can be used for any purpose all without penalty (but you will pay taxes on what you use.)


Investments

As an Avidia HSA participant, you have the opportunity to utilize our optional investment account service available through our partnership with Devenir. When you open an investment account you will be able to invest a portion of your HSA in mutual funds, where they earn tax-free interest. View our investment options here.


So, don’t delay on gaining healthcare savings, retirement perks and investment options. Open an HSA today! Avidia HSAs are easy to open, easy to use and easy to manage. You can open an HSA on your own or through your employer.


Learn More About Enrolling Today

HSA the right way with Avidia Health, visit www.avidiahealth.com now to experience the Avidia advantage.


NATIONAL BANK OFFERING – COMMUNITY BANK SERVICE

<January 1, 2019>



HAs an employer or HR professional, it’s likely on your plate to ensure your employees are satisfied with their workplace benefits offerings. It’s also likely that you’re the one who gets an ear-full when they have complaints about lack of service from one of these benefits vendors. Often, national HSA vendors offer a wide span of inflated solutions but might not be able to deliver the local, personalized service your employees both expect and deserve.


That’s what makes Avidia Health different.


National Bank Offering

With over $1 billion in assets, 140 years of experience and clients in all 50 states, Avidia Health is the partner your business needs to deliver the big bank HSA experience your employees desire. Avidia provides an affordable, scalable solution combined with leading technology. Did we mention HSAs are our sole focus? We focus on one product, to deliver the best product, all backed by Avidia Bank, an FDIC-insured, full-service financial institution.


Community Bank Service

At Avidia, we understand that a negative service experience ruins even the best of products. That’s why we put dedicated effort into personalizing our members’ experience to ensure their individual needs are met. Our HSA programs are built around your employees’ greatest needs. We focus on providing the cost-effective HSA program that delivers the results you want with the service feel of a community bank. Our high-touch service efforts ensure our clients have the best experience in the market, guaranteed.


Not all HSAs are created equal. Choose a partner that you and your employees can truly depend on for a best-in-class HSA product and high-touch service. At Avidia, delivering a tailored HSA solution for your business is our sole focus. We deliver the most value in HSAs with zero monthly maintenance fees, along with the personalized service your employees deserve.


View our HR HSA Digital Kit today for complimentary HSA resources.


View HSA Digital Kit

Ready to speak with an Avidia representative to learn more about what an HSA can do for your employees? Contact Lynda Westbrook at l.westbrook@avidiabank.com or 978.875.2453 today.


NEW YEAR, NEW WAY TO SAVE ON HEALTHCARE

<February 1, 2019>



It’s 2019! Many of us make resolutions in the new year. These resolutions are often around accomplishing a goal. This can be eating healthier, paying off a loan or just saving more money in the coming year. Avidia supports all of your goals, and if your personal resolution is to save more money in 2019, we have the perfect solution for you – an Avidia HSA. If you have a High Deductible Health Plan or HDHP, an Avidia HSA allows you to pay for qualified medical expenses, while saving for your future.


Learn how an Avidia HSA will help you save money in 2019 below!


Savings x3

Contributions to your HSA come out of your paycheck pre-tax, accumulate potential interest tax-free and distributions are tax-free when used to pay for qualified medical expenses. You’re gaining money by utilizing an HSA in 2019!


Portable

There’s no use it or lose it rule with an HSA. Unlike other accounts, your HSA funds are yours to keep! Your money rolls over year-after-year even if you change jobs. An HSA is a true savings account for your health.


Peace of Mind

Unused contributions will accumulate over time. These contributions can be used for future medical expenses or to supplement retirement income. For example, unused funds can be used to pay COBRA or other medical insurance premiums during periods of unemployment of temporary layoff.


Future Funds

Funds can be used for non-medical expenses. At age 65, any remaining HSA funds can be withdrawn for non-medical reasons without penalty. Ordinary income tax will be charged on the money withdrawn for non-medical reasons.


Going Further

Available in 50 states, Avidia makes your money go even further with zero monthly maintenance fees! That’s even more to save.


Make 2019 the year you meet your savings goals. Open an HSA today! Avidia HSAs are easy to open, easy to use and easy to manage. You can open an HSA on your own or through your employer.


LEARN MORE ABOUT ENROLLING TODAY

NEW YEAR, NEW WAY TO ATTRACT TALENT

<February 1, 2019>



It’s 2019! Last year was a positive year for the economy with unemployment rates at a low. This positive shift gave more job opportunity to employees, while making competition among employers stiff. Employees are looking at benefits package now more than ever before. Are you offering 2019’s shiny, new health benefit to attract employees? We’re talking about Health Savings Accounts and you should be! If you offer a High Deductible Health Plan or HDHP, an Avidia HSA allows your employees to pay for qualified medical expenses, while saving for their future.


Learn why an Avidia HSA is a top tool to attract talent in 2019 below!


Savings x3

Contributions to your employees’ HSA come out of their paycheck pre-tax, accumulate potential interest tax-free and distributions are tax-free when used to pay for qualified medical expenses. You’re helping them gain more money by utilizing an HSA in 2019!


Portable

There’s no use it or lose it rule with an HSA. Unlike other accounts, your employees’ HSA funds are theirs to keep! Their money rolls over year-after-year even if they change jobs, which is an attractive, flexible option. An HSA is a true savings account for their health.


Peace of Mind

Unused contributions will accumulate over time. These contributions can be used for future medical expenses or to supplement retirement income. For example, unused funds can be used to pay COBRA or other medical insurance premiums during periods of unemployment of temporary layoff.


Future Funds

Funds can be used for non-medical expenses. At age 65, any remaining HSA funds can be withdrawn for non-medical reasons without penalty. Ordinary income tax will be charged on the money withdrawn for non-medical reasons.


Going Further

Available in 50 states, Avidia makes your employees’ money go even further with zero monthly maintenance fees! That’s even more to save, and even more to attract them to your place of work.


While offering employees an HSA is a great way to attract top talent, having a partner that’s dedicated to the highest quality of service is vital to retaining them. At Avidia, delivering a tailored HSA solution for your business is our sole focus. We deliver the most value in HSAs with zero monthly maintenance fees, along with the personalized service your employees deserve.


View our HR HSA Digital Kit today for complimentary HSA resources.


VIEW HSA DIGITAL KIT

HOW AN AVIDIA HSA PUTS THE BENEFIT BACK IN HEALTH PLAN BENEFITS

<March 1, 2019>



Healthcare prices are continuously on the rise putting a strain on employers to provide affordable options to their workforce. Employers across the U.S. are turning to HSAs to save on monthly premiums, attract top talent, and retain their current employees by providing affordable, robust benefit packages.


Here are 4 ways HSAs put the benefit back in your benefits plan


  1. Cost Savings
    • When your employees make pre-tax contributions through their paycheck into their HSA, you actually save too. These pre-tax funds are excluded from FICA, unemployment and workers compensation taxes. Plus, the more you encourage your employees to contribute, the more they save. Win, win!
  2. Affordable Coverage Option
    • HSA-compatible health plans, also called High Deductible Health Plans or HDHPs, provide affordable coverage while maintaining quality. HDHPs offer lower premiums compared to traditional plans, slower premium increases and preventative care is often covered at 100% before the deductible is met, with no co-payments.
  3. More Engaged Employees
    • Studies show that employees who own an HSA are more likely to be engaged in their health. A HDHP and HSA work best for individuals who maintain a higher level of health and have low utilization, so employees are more likely to stay on top of their health, ask about costs prior to appointments, and seek out information about generic prescription alternatives and lower cost treatment options.
  4. Reduced HR Workload
    • Our recently updated HSA portal delivers exceptional service to your employees in an easy to use digital format. They can access all of their HSA information and manage their funds in one convenient location. This reduces your HR team’s workload.

HSAs offer the affordable benefits solution that today’s workforce craves. You can attract new, top talent to your organization while maintaining the workplace satisfaction your current employees desire.


Ready to learn more? View our HR HSA Digital Kit today for complimentary HSA resources.


VIEW HSA DIGITAL KIT

HSA TAX FACTS – WHAT YOU NEED TO KNOW

<March 1, 2019>



Did you set up a health savings account through Avidia last year? If so, congratulations! You deserve a pat on the back for setting yourself up for numerous tax advantages! Now that it’s tax season, you may be wondering exactly how having an HSA will impact your tax return. Here are 4 things you should know about your HSA this tax season:


  1. Forms You’ll Receive
    • If you made contributions to your HSA during the year, you’ll receive Form 5498-SA. If you withdrew from your HSA during the year, you’ll receive Form 1099-SA. You may receive only one, or both of these forms depending on your HSA activity.
  2. Employer Contributions
    • Did your employer contribute to your HSA during the year? If so, the amount they contributed will be included in your total contribution amount.
  3. Deductions
    • You will not necessarily deduct the total HSA contribution amount from your income on your tax return. This depends on if you made the contributions alone, or if you made them via your employer’s payroll
    • If you set up your account outside of your employer and sent contributions to Avidia on your own, you used after-tax money to fund your HSA. HSA contributions are pre-tax, so you will deduct the contribution amount from your income. This way, you won’t end up owing taxes on the contributions in your HSA.
    • Did you set up your HSA through your employer? In this case, your contributions came out of your paycheck, meaning they’ve already been deducted from your total income. Your W-2 will show a lower amount of total income than it would have shown if you did not contribute to your HSA. Your contribution amount doesn’t get deducted from your income on your tax return.
  4. Report Your HSA Details
    • To report on the contributions to or withdraws from your HSA to the IRS, you’ll use Form 8889. This form is where you will calculate how much money, if at all, you should deduct from your income for your HSA contributions. If you’re using a tax software, it will complete this form for you.

We understand that taxes can be confusing. If you have any questions about your HSA in regard to your taxes, we’re happy to help. Contact hsainfo@avidiabank.com for assistance. .


Source: https://hsastore.com/learn/taxes/hsa-contributions-tax-return

SHOP ‘TILL YOU DROP: WHAT’S COVERED BY YOUR HSA?

<April 2, 2019>



Your Health Savings Account is a very useful tool. You likely already know that it delivers triple tax savings, with Avidia furthers your money with zero monthly maintenance fees and lowers the amount of money you spend on health-related items. But, you might be surprised at exactly what items you can purchase with your HSA through the HSA store! See below for a few items you might not expect to see covered by your HSA.


  • All Things Maternity
    • Moms-to-be can find over 161 HSA-eligible maternity and baby items on the HSA store. From Pre-natal vitamins, baby thermometers, to breast pumps – your HSA covers many needed maternity items.
  • Pain Reliever
    • Popular pain reliever and fever reducer can add up – luckily, they’re covered by your HSA. Find brands like Aleve, Tylenol, Pamprin and Motrin on the HSA Store or at your local pharmacy.
  • Lasik Eye Surgery
    • Lasik is a miraculous and quite expensive procedure. The price of Lasik can range from $1,000 to $3,000, and sometimes more. Having an HSA is a nice option to help curve this expense.
  • Sunscreen
    • Sunscreen is essential to preventing skin cancer, so it’s rightly a covered HSA-eligible item! Shop on the HSA Store and browse numerous sunscreen brands and protect your skin while saving.
  • Owlet Smart Sock + Cam
    • This increasingly popular baby registry request is HSA-eligible! The Owlet Smart Sock + Cam tracks the heart rate and oxygen levels of a baby and notifies parents when somethings amiss – letting mom and dad sleep soundly.
  • Dental Care
    • Cavities hurt – and so does the dentist bill after you get one treated. Luckily, your HSA covers dental care and procedures!
  • Allergy Testing
    • Pollen can be a real drag and wreak havoc on your sinuses. Allergy tests from pollen, ragweed or anything else are covered by your HSA. You can also purchase Allergy relief like Flonase, Allegra and Zyrtec through the HSA Store.

You have everything to gain by getting an HSA today! Avidia HSAs are easy to open, easy to use and easy to manage. You can open an HSA on your own or through your employer.


To see all covered items visit the HSA store at https://hsastore.com.

WHAT MAKES AN HSA PROGRAM SUCCESSFUL FOR YOU AND YOUR EMPLOYEES?

<April 2, 2019>



An Avidia Health Savings Account paired with an accompanying high-deductible health plan can be a great option for your organization. Your business will be able to attract top talent looking for a diverse and flexible benefit option, and your current employees will benefit through more affordable health plan and care options. But designing a plan that encourages participation is critical to success. Here are Avidia’s plan design recommendations:


  • Provide Incentives:

    The monthly premium for a high-deductible health plan is typically lower than traditional, but the lower cost comes in tandem with a high deductible. Here are a few things you can do to ease the transition to your HSA program.
    Tips:

    • Offer to pay a higher percentage of the premium
    • Provide two HSA-compatible plan deductible levels
    • Contribute to your employees’ HSAs
  • Educate and Communicate:

    Communication is always key – and with an HSA, education is equally important. HSAs are relatively new, making education on the benefits and uses necessary. Avidia helps to educate your employees for a successful rollout and acceptance rate.
    Tips:

    • Begin communication early, well before enrollment begins
    • Educate your employees and their spouse (when applicable)
  • Program Design Examples to Combat Concerns:

    Premium Concerns – for employees who place a high value on low premium costs:

    • Pay 80-100% of employee premiums towards an HSA-compatible health plan
    • Offer several deductible options to ease the transition to HSA plans

    Deductible Concerns – for employees that are concerned about high deductibles:

    • Contribute 50-100% of the deductible of the HSA

    Combination of both – for employees that place a high value on having lower premium costs:

    • Pay 75-100% of employee premiums towards an HSA-compatible health plan
    • Contribute 30-60% of the deductible to the HSA

While offering employees an HSA is a great way to attract top talent, having a partner that’s dedicated to the highest quality of service is vital to retaining them. At Avidia, delivering a tailored HSA solution for your business is our sole focus. We deliver the most value in HSAs with zero monthly maintenance fees, along with the personalized service your employees deserve.


View our HR HSA Digital Kit today for complimentary HSA resources.

VIEW HSA DIGITAL KIT

QUALIFYING FOR AN HSA: WHAT YOU NEED TO KNOW

<May 15, 2019>



There are numerous advantages to opening a Health Savings Account (HSA). Your HSA account allows you to save on medical expenses and gain a triple tax advantage – contributions are tax-free, potential interest accumulates tax-free and distributions are tax-free when used to pay for qualified medical expenses. Plus, an HSA through Avidia offers flexibility, convenience and investment options. And while all of these reasons are convincing enough to open an HSA with the help of Avidia, you might be asking, ‘do I qualify?’


We’ve put together a list of qualifications to review while you’re considering opening an HSA.


Any adult can open an HSA if:



You have coverage under an HSA qualified High-Deductible Health Plan (HDHP)

  • To open an HSA, you must be enrolled in a High Deductible Health Plan that is HSA qualified. HDHPs allow you to pay a lower premium each month, while putting those savings into your HSA. If a medical need arises, you may pay a higher deductible, but with your triple tax savings funds in your HSA you can pay with ease.

You have no other medical coverage

  • You can only obtain an HSA under an HSA qualified HDHP. If your secondary insurance is not through a qualified HDHP, you will not be eligible to participate in contributing to an HSA.

You’re not enrolled in Medicare

  • Once you enroll in Medicare, you can’t obtain an HSA or continue to contribute pre-tax dollars into your HSA. You can however continue to withdraw money from your existing HSA after you enroll to pay for qualified medical expenses.

You cannot be claimed as a dependent

  • HSAs are limited to adults who cannot be claimed as a dependent on someone else’s tax return.

While offering employees an HSA is a great way to attract top talent, having a partner that’s dedicated to the highest quality of service and education is vital to retaining them. At Avidia, delivering a tailored HSA solution for your business is our sole focus. We deliver the most value in HSAs with zero monthly maintenance fees, along with the personalized service your employees deserve.


Now that you understand if you qualify, open an HSA today! Avidia HSAs are easy to open, easy to use and easy to manage.

LEARN MORE ABOUT ENROLLING TODAY

DO YOUR EMPLOYEES QUALIFY FOR AN HSA? WHAT YOU NEED TO KNOW

<May 15, 2019>



A Health Savings Account offers numerous advantages to both you and your employees. For you, an HSA along with an HDHP offers an enticing new health plan option for both current and potential employees. For your employees, an HSA offers a way to save on medical expenses, gain triple tax advantages and investment opportunities. And while all of these reasons are convincing enough for you and your employees to want an HSA option with the help of Avidia, you might ask – ‘will my employees qualify?’


We’ve put together a list of qualifications so you can better understand and educate your employees on enrolling in an HSA.


Any employee can open an HSA if:



The employee has coverage under an HSA qualified High-Deductible Health Plan (HDHP)

  • To open an HSA, the employee must be enrolled in a High Deductible Health Plan that is HSA qualified. HDHPs allow employees to pay a lower premium each month, while putting those savings into their HSA. If a medical need arises, they may pay a higher deductible, but with triple tax savings funds in an HSA they can pay with ease.

The employee has no other medical coverage

  • The employee can only obtain an HSA under an HSA qualified HDHP. If they have secondary insurance and it is not through a qualified HDHP, they will not be eligible to participate in contributing to an HSA.

The employee is not enrolled in Medicare

  • Once the employee enrolls in Medicare, they can’t obtain an HSA or continue to contribute pre-tax dollars into their HSA. They can however continue to withdraw money from an existing HSA after they enroll to pay for qualified medical expenses.

The employee cannot be claimed as a dependent

  • HSAs are limited to adults who cannot be claimed as a dependent on someone else’s tax return.

While offering employees an HSA is a great way to attract top talent, having a partner that’s dedicated to the highest quality of service and education is vital to retaining them. At Avidia, delivering a tailored HSA solution for your business is our sole focus. We deliver the most value in HSAs with zero monthly maintenance fees, along with the personalized service your employees deserve.


View our HR HSA Digital Kit today for complimentary HSA resources.

VIEW HSA DIGITAL KIT

HOW YOU CAN GAIN SUMMER SAVINGS WITH AN HSA

<June 15, 2019>



Summer is here and that means it’s time for summer fun! However, summer fun can often add up quickly with entertainment like movie tickets, amusement parks and overnight hotel stays at the beach. And while summer expenses are adding up, your healthcare expenses won’t be put on pause to align with your budget! A Health Savings Account through Avidia Health can help you save on healthcare expenses and add more cushion to your budget. ’


Here are 3 reasons to open an Avidia HSA this summer:

  1. Lower Monthly Premiums
    • In order to obtain an HSA you must participate in a High Deductible Health Plan. A High Deductible Health Plan allows you to pay less on your premium each month while still obtaining high quality coverage. These unused premium funds are then invested into your HSA so when a medical need arises, you can tap into these tax-free savings to pay for the higher deductible.
  2. Tax-Free Contributions
    • You gain 3x the savings on healthcare, plus additional Avidia only savings. Contributions to your HSA are tax-free because they’re made prior to income tax. Interest accumulates tax-free as taxes aren’t paid on account growth for HSAs. And, when used to pay for qualified medical expenses, like doctor’s visits and medical goods, HSA funds are not taxed. Plus, with Avidia you are charged ZERO monthly maintenance fees, allowing you to save even more!
  3. Your Funds, Your Way
    • You own your HSA funds. Unlike FSAs, your HSA funds roll over year after year with no use-it-or-lose-it rule. These funds accumulate over time and you take them with you regardless if you change jobs or retire. Plus, you can use your funds for non-eligible medical expenses after the age of 65 – a good supplement to your retirement fund!

Summer is here – so don’t delay! Open an HSA today and start saving on medical expenses. Avidia HSAs are easy to open, easy to use and easy to manage. You can open an HSA on your own or through your employer.


LEARN MORE ABOUT ENROLLING TODAY

HELP YOUR EMPLOYEES GAIN SUMMER SAVINGS WITH AN HSA

<June 15, 2019>



Summer is here and that means it’s time for summer fun! However, summer fun can often add up quickly for your employees with entertainment like movie tickets, amusement parks and overnight hotel stays at the beach. And while summer expenses are adding up, their healthcare expenses won’t be put on pause to align with their yearly budget! A Health Savings Account through Avidia Health can help them save on healthcare expenses and add more cushion to their budget.


Here are 3 reasons to offer an Avidia HSA to your employees this summer:

  1. Lower Monthly Premiums
    • In order to obtain an HSA your employees must participate in a High Deductible Health Plan. A High Deductible Health Plan allows them to pay less on their premium each month while still obtaining high quality coverage. These unused premium funds are then invested into the employee’s HSA so when a medical need arises, they can tap into these tax-free savings to pay for the higher deductible.
  2. Tax-Free Contributions
    • Employees gain 3x the savings on healthcare, plus additional Avidia only savings. Contributions to their HSA are tax-free because they’re made prior to income tax. Interest accumulates tax-free as taxes aren’t paid on account growth for HSAs. And, when used to pay for qualified medical expenses, like doctor’s visits and medical goods, HSA funds are not taxed. Plus, with Avidia they are charged ZERO monthly maintenance fees, allowing them to save even more!
  3. Their Funds, Their Way
    • Employees own their HSA funds. Unlike FSAs, HSA funds roll over year after year with no use-it-or-lose-it rule. These funds accumulate over time and employees take the funds with them regardless if they change jobs or retire. Plus, they can use their funds for non-eligible medical expenses after the age of 65 – a good supplement to retirement fund!

Summer is here – so don’t delay! Help your employees open an HSA today so they can start saving on medical expenses. While offering employees an HSA is a great way to attract top talent, having a partner that’s dedicated to the highest quality of service is vital to retaining them. At Avidia, delivering a tailored HSA solution for your business is our sole focus. We deliver the most value in HSAs with zero monthly maintenance fees, along with the personalized service your employees deserve.


View our HR HSA Digital Kit today for complimentary HSA resources.

VIEW HSA DIGITAL KIT

Keeping You Up-to-date On 2020 HSA Limits

<July 1, 2019>



It’s hard to believe but 2020 is right around the corner! There are several months left to enjoy 2019, but it is important to prepare for the coming year and the changes it brings affecting Health Savings Accounts. Every day American’s are turning to Health Savings Accounts (HSAs) to make healthcare more affordable. An Avidia HSA empowers you to pay for qualified medical expenses and save for the future with reduced monthly premiums through an accompanying HDHP.


It’s vital that you have all of the information needed to make the best decision on choosing a health plan option that is right for you. It’s also vital that you are knowledgeable to ensure you make the most of your health plan benefits. At Avidia, we pride ourselves on outstanding customer service. We keep you up-to-date at all times on all things HSAs to help you make educated, empowered decisions. The IRS recently release the 2020 HSA Contribution Limits, HSA Catch-up Contribution Limits, Minimal Annual HDHP Deductible and Maximum Out-of-Pocket for HDHPs. While the limits rose modestly from 2019, they are an important factor in helping you make informed decisions on the choice to utilize an HDHP with accompany HSA.


Please see below for the 2020 Annual HSA Contribution Limit, HSA Catch-up Contributions, Minimum Annual HDHP Deductible and Maximum Out-of-Pocket for HDHPs as established by the IRS. The below chart also shows a side by side comparison of 2019’s established limits as well as the year-over-year changes.


2019 2020 Change
Annual HSA Contribution Limit Self-only: $3,500
Family: $7,000
Self-only: $3,550
Family: $7,100
Self-only: +$50
Family: +$100
HSA Catch-up Contributions $1,000 $1,000 No Change
Minimum Annual HDHP Deductible Self-only: $1,350
Family: $2,700
Self-only: $1,400
Family: $2,800
Self-only: +$50
Family: +$100
Maximum Out-of-Pocket for HDHP Self-only: $6,750
Family: $13,500
Self-only: $6,900
Family: $13,800
Self-only: +$150
Family: +$300

Don’t miss out on healthcare savings - open an HSA today! Avidia HSAs are easy to open, easy to use and easy to manage. You can open an HSA on your own or through your employer.


LEARN MORE ABOUT ENROLLING TODAY

HSA the right way with Avidia Health, visit www.avidiahealth.com now to experience the Avidia advantage.

Keeping You & Your Employees Up-to-date On 2020 HSA Limits

<July 1, 2019>



It’s hard to believe but 2020 is right around the corner! There are several months left to enjoy 2019, but it is important to prepare for the coming year and the changes it brings affecting Health Savings Accounts. Every day American’s are turning to Health Savings Accounts (HSAs) to make healthcare more affordable. An Avidia HSA empowers employees to pay for qualified medical expenses and save for the future with reduced monthly premiums through an accompanying HDHP.


As an employer, it’s vital that you have all of the information needed to make the best decision on providing affordable health care options for your employees. It’s also vital that you are knowledgeable to help your employees best utilize their benefits. At Avidia, we pride ourselves on outstanding customer service to both you and your employees. We keep you up-to-date at all times on all things HSAs to help you and your employees make educated, empowered decisions. The IRS recently release the 2020 HSA Contribution Limits, HSA Catch-up Contribution Limits, Minimal Annual HDHP Deductible and Maximum Out-of-Pocket for HDHPs. While the limits rose modestly from 2019, they are an important factor in helping employees make informed decisions on the choice to utilize an HDHP with accompany HSA.


Please see below for the 2020 Annual HSA Contribution Limit, HSA Catch-up Contributions, Minimum Annual HDHP Deductible and Maximum Out-of-Pocket for HDHPs as established by the IRS. The below chart also shows a side by side comparison of 2019’s established limits as well as the year-over-year changes.


2019 2020 Change
Annual HSA Contribution Limit Self-only: $3,500
Family: $7,000
Self-only: $3,550
Family: $7,100
Self-only: +$50
Family: +$100
HSA Catch-up Contributions $1,000 $1,000 No Change
Minimum Annual HDHP Deductible Self-only: $1,350
Family: $2,700
Self-only: $1,400
Family: $2,800
Self-only: +$50
Family: +$100
Maximum Out-of-Pocket for HDHP Self-only: $6,750
Family: $13,500
Self-only: $6,900
Family: $13,800
Self-only: +$150
Family: +$300

While offering employees an HSA is a great way to attract top talent, having a partner that’s dedicated to the highest quality of service is vital to retaining them. At Avidia, delivering a tailored HSA solution for your business is our sole focus. We deliver the most value in HSAs with zero monthly maintenance fees, along with the personalized service your employees deserve.


View our HR HSA Digital Kit today for complimentary HSA resources.

VIEW HSA DIGITAL KIT