Control Healthcare Expenses and Deliver
Better Benefits for You
Save, Retain, Recruit
As consumer driven healthcare is on the rise, the demand for HSAs continues to grow. Employers across the country are turning to HSAs to save on monthly premiums and attract and retain employees through affordable, robust benefit packages that let them take control of their healthcare expenses.
Avidia HSAs are easy to open, easy to use, and easy to manage. Avidia provides affordable HSAs while ensuring quality, personalized service.
Partner With AvidiaImproved Cost
Savings
Affordable Plan
Coverage
Increased
Employee Health
Employee
Engagement
Maximize Internal
Resources
Additional
Benefits
Improved Cost Savings
When employees make pre-tax contributions to their HSA, their employer saves. The pre-tax amount is excluded from FICA, Unemployment, and Workers Compensation taxes. The more employers encourage their employees to contribute, the more they save.
Affordable Plan Coverage
HSA-compatible health plans provide affordability without giving up coverage. These plans offer lower premiums compared to traditional plans, lower premium increases, and preventive care often covered at 100% before the deductible is met, with no-payments.
Increased Employee Health
By pairing an HSA program with a wellness program, employers are able to promote and incentivize better overall health. As employees become healthier, their healthcare utilization decreases.
Employee Engagement
Employees who own an HSA are more likely to be engaged in their health, ask about costs prior to making appointments, seek information about generic prescription alternatives, and select lower cost treatment options.
Maximize Internal Resources
The Avidia Health eClaims Manager is a free service that allows your employees to easily manage every aspect of their HSA, from one place, reducing HR workload.
Additional Benefits
- Flexibility in controlling benefit costs
- Employee retention and attraction
How Your Employees Benefit
Tax Benefits
Ownership in Healthcare
Additional Investment Potential
Control Expenses
Pay COBRA Premiums with HSA Funds
Purchase long-term care insurance
Supplement Retirement Income
Tax Benefits
Contributions to HSAs reduce taxable income. Health Savings Accounts grow in the same tax-deferred manner as IRAs. These funds can be used to pay for qualified medical expenses on a tax-free basis.
Ownership in Healthcare
HSAs return healthcare ownership to the end-user. The accounts are owned by the accountholder, and the balances roll over from year to year.
Additional Investment Potential
HSAs provide employees with the opportunity to save for future medical expenses and/or invest for even greater earning potential.
Control Expenses
The accountholder determines which qualified expenses will be paid from their HSA, how they will be paid and when.
Pay COBRA Premiums with HSA Funds
Preserve liquidity between jobs or during times of unemployment. Special tax-free withdrawals are permitted.
Purchase long-term care insurance
Use tax-deferred dollars to plan for long-term needs.
Supplement Retirement Income
Once enrolled in Medicare, the accountholder may use HSA balances to pay for out-of-pocket Medicare expenses tax-free, or choose to use HSA balances for non-medical purposes by claiming the amount of the withdrawal as income for tax purposes, penalty-free.
How Your Employees Benefit
An Avidia Health HSA is a convenient and smart way to pay for medical expenses and reduce taxable income. An HSA is a tax-favored account used in conjunction with an HSA-compatible health plan, usually a High Deductible Health Plan (HDHP).
Tax Benefits
Ownership in Healthcare
Additional Investment Potential
Control Expenses
Pay COBRA Premiums with HSA Funds
Purchase long-term care insurance
Supplement Retirement Income
HSA Program Design
What Makes an HSA Program Successful?
Designing a plan to encourage participation is critical to success. Click below for Avidia’s plan design recommendations and examples that can maximize your enrollment potential.
Provide Incentives
Premium costs of HSA-compatible plans are typically lower than traditional plans; however, with the lower cost is a higher deductible. Here are a few things you can do to ease the transition to your HSA program:
- Offer to pay a higher percentage of the premium
- Provide two HSA-compatible plan deductible levels
- Contribute to your employees’ HSAs
Education & Communication
Education is a key component to a successful rollout and acceptance rate.
- Begin your communication early, well before enrollment begins
- Educate your employees and their spouse (when applicable)
Program Design Examples
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 to the HSA
Combination - for employees that value low premium costs and are concerned about high deductibles:
- Pay 75-100% of employee premiums towards an HSA-compatible health plan
- Contribute 30-60% of the deductible to the HSA
